A few issues back I reported on the troubles at the Gibson Guitar Company and shared the legendary status of Gibson guitars in the music world. Fearing little argument, I would say that Gibson and Fender guitars helped shape the world of electric guitars more than any other brands. That being said, here is a follow up on the Chapter 11 filing of bankruptcy from the eyes of guitarist and self-described guitar geek, Joe Bonamassa, who undoubtedly has his finger on the pulse of the guitar world.
In some recent interviews, Joe has tried to calm the nerves of those who fear the loss of their favorite Gibson guitar. Joe was quoted, saying, “I know the people that are taking over Gibson, and they are good guys. They’re guitar guys. What a lot of people don’t realize about Chapter 11 is people go, ‘Oh, Chapter 11. Oh, my god. There won’t be a Les Paul or a Flying V!”
Joe continued, “Chapter 11 is basically designed to keep the wolves at the door at bay and allow a company that’s a very good company ultimately, to just have a chance to kind of restructure before they have to pay their light bills and everything else. So, it’s gonna be great.”
Joe also confronted the rumor that he might buy the Gibson company. He laughingly stated, “How well off do you think I am? I play blues rock for a living. It’s like a vow of poverty!”
The estimated debt of Gibson is reported to be in the $250 million range, so it’s hard to imagine any musicians that would be willing to spring for “a great deal” on a struggling guitar company. Maybe Paul McCartney, or Eric Clapton, or Paul Simon-folks in that category of money makers in the music world could consider it. Don’t wait up for it! Hopefully, it’s enough to have Joe Bonamassa, a guitar legend, give his blessings to the Gibson Guitar Company, and calm the nerves of future Gibson guitar owners. Let’s hope so.
In the meantime, I encourage all of you guitar slingers out there to go get yourself a Gibson guitar if you have a few thousand sitting around the house! Seriously, Gibson has made some excellent guitars and hopefully they will continue to do so. Someday I hope you are fortunate enough, as I am, to call yourself a “Gibson owner”. By the way, you don’t have to buy the whole company!
-Johnny Divine
