One Year Out: Has Gibson Really Turned Over A New Leaf?Posted by Zander on Thursday, 19 September 2019
When I first started writing this article, I thought I was going to be rehashing some old material about Gibson (under owner Henry Juszkiewicz) and one particular completely crappy business practice: "The Bumblebee Capacitors".
But while doing research for that article (the bumblebee capacitors debacle is still a pretty interesting and an instructive case study), I was lead to a whole lot of other things: namely the information that is now this article. Most notably that there was a whole chain of events, playing out across several years, under Juszkiewicz's leadership that caused the failure of Gibson, and the forced sale that threw "Henry J" out, and that brought in new investors and new company leadership. Early last month, it had been a year since Gibson went through that ownership and leadership change.
Henry Juszkiewicz acquired Gibson in 1986 for $5m. 5 Million Dollars. That's it. Now, 1986 is quite a bit different from 2019 in terms of how much inflation has devalued the dollar, but $5 million still seems a pittance given the storied Gibson name...