Gibson ‘running out of time — rapidly’

Petergrifindor

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ehb

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I support a level playing field. If it takes a knot being snatched in some country's ass here and there, so be it. Say we send something to some country for $100 but once there it is tariffed and is now $175. Say that country ships something to the US for $100 but once it gets here, it is still $100. Well, I am about to snatch a knot in your ass over that $75 tax that almost doubles the cost of our product in your country and plus the $75 goes into your country's Gummit's pocket. That is on just ONE item. It's like math. Imagine millions of that item shipped there in one year. Taxes/tariffs go to the Gummit of the country doing it.

I think the US and Canuckistan should be no tariff either way.

This country lost gillions of jobs over non-level playing field. Well, it just may get leveled a bit now...

We once built things for ourselves not too long ago. We still have the talent, machines, and facilities. We can once again build stuff for ourselves. Spin up time will be brief.

Tax us and we will tax your ass back... Block us, we will block you....

It's about damn time....
 

ehb

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This may push for more actual "free trade" agreements...

Free trade goes both directions...
 

ehb

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I think Hankie will cave in the last moment before the fire sale tents and tables are set up in the parking lot, and move on to some 'emeritus' bullshit position with office in the third storage room on the left....in the basement...

He deserves credit for saving Gib. They were literally about to have to close up shop and do a fire sale. He DID save them and pulled them back up to the top.

He also deserves credit for dragging them down to about the same level as when he first stepped in to save them....or worse....

Gib over the decades has driven multiple brands in the ground... Seems like folks would see a freaking pattern by now...
 

Dolebludger

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I agree with Peter that bankruptcy appears unavoidable for Gibson. Henry may cave in and leave the company to be sorted out by the creditors, but can THEY save it at this point? I have seen many cases where such a move proves to be only a delay in the inevitable.
 

Tone deaf

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I agree with Peter that bankruptcy appears unavoidable for Gibson. Henry may cave in and leave the company to be sorted out by the creditors, but can THEY save it at this point? I have seen many cases where such a move proves to be only a delay in the inevitable.
They do over $1.5B in revenues. I am guessing cash flow must be about $75 million. All of the owners' value is in the equity. Bankruptcy makes the equity worth zero. The owners (Henry et al) have every reason to accommodate the wishes of new debt and equity in order to maintain a hundred to a couple hundred million worth of equity, which they lose the second the company files for BK.

If this was a public company and management didn't own the company, it would be BK in no time flat. However, management is very skewed to the equity (i.e. the owners of the company) in the Gibson scenario...as they should be.
 




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