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Post by bluesmama on Jan 28, 2020 3:00:05 GMT -5
Guitar.com reports that;
FENDER ANNOUNCES OWNERSHIP CHANGE, WITH SERVCO BUYING TPG GROWTH’S SHARES Longtime investors Servco Pacific Inc have acquired a majority stake in the company.
According to the report current management will not change and that all are looking forward to the new majority stockholder partnership with Servco.
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Post by gato on Jan 28, 2020 10:25:35 GMT -5
"Servco has been involved in the musical instruments industry since 1937, and its relationship with Fender began as a dealer of its products in the 1950's." The "involvement" in musical instruments, based on Servo's website, seems limited to retail sales. Most of their holdings and dealings involve car dealerships, tire stores, home appliances and so on. Nothing about innovation or development of guitars or amps. One can only hope we are not looking at another CBS (Clueless Business Suits) debacle. www.servco.com/
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Ryder
Wholenote
Butterscotch Blues
Posts: 856
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Post by Ryder on Jan 29, 2020 10:34:18 GMT -5
I don’t like it, I tell you, I don’t like it one bit!
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Post by 6l6 on Jan 29, 2020 12:59:50 GMT -5
I went through EIGHT corporate buyouts during my working career. In every instance the product became worse over time due to clueless bean counters calling the shots.
This is bad news for Fender and its customers. And the folks at the top need to start working on their resumes because their jobs are toast.
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LadyJazzer
Halfnote
Retired, but still gigging
Posts: 71
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Post by LadyJazzer on Jan 29, 2020 13:05:08 GMT -5
This is “The beginning of the end.” Hang on to your classic old ones. They’re about to go up in value.
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Post by jhawkr on Jan 29, 2020 13:40:14 GMT -5
Agree it’s the beginning of the end. Just makes my Fender stuff more valuable.
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Post by markfromhawaii on Jan 29, 2020 17:21:36 GMT -5
I just saw this and I'm really surprised. Servco is a family-run business which had its start in Hawaii. Its market base is largely in Hawaii and the Pacific, Guam especially. My cousin was Controller there for a while years ago. My wife ran their now defunct Keiki Music studio in Waipahu. Locally, they are know as THE Toyota dealership in Hawaii. guitar.com/news/industry-news/fender-announces-change-in-ownership-servco-tpg-growth/
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Post by Chris Greene on Jan 29, 2020 17:38:02 GMT -5
The guitar business is, mostly, dead now. Very few young people are interested in playing guitar as compared to the time so many of us grew up in. I'm still a fan of Fender's history and products from recent years but my guitar buying days are long over. The market for guitars is aging out and there's not enough new customers to pick up the slack. Unless another huge guitar band like The Beatles comes along, in 15-20 years, the guitar market will be dead.
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Bronx
Wholenote
Posts: 273
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Post by Bronx on Jan 30, 2020 20:23:15 GMT -5
The 3 bolt neck era returns?
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Post by jefe46 on Jan 30, 2020 20:53:19 GMT -5
NORLIN revisited ?
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