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Location: NJ | Kaman Announces Agreement to Sell Music Segment
BLOOMFIELD, Conn., Oct. 29 /PRNewswire-FirstCall/ -- (Nasdaq: KAMN) Kaman Corporation announced today that it has entered into a definitive agreement to sell its wholly owned subsidiary, Kaman Music Corporation (KMC), to Fender Musical Instruments Corporation (FMIC) of Scottsdale, Arizona for approximately $117 million in cash, subject to specified post closing purchase price adjustments. The stock purchase agreement, which contains customary representations and warranties and covenants, has been approved by the Kaman Board of Directors. Closing is targeted to occur prior to January 1, 2008, subject to the satisfaction of customary closing conditions, including termination or expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
KMC, which comprises the company's entire Music segment, owns Ovation Guitars, LP and Toca hand percussion products, Gibraltar Hardware, Genz Benz Amplification, Hamer Guitars, and is the exclusive U.S. sales representative for Sabian Cymbals, and exclusive worldwide distributor of Takamine Guitars and Gretsch Drums. Privately held FMIC is the world's leading electric guitar manufacturer. In addition to owning the world-renowned Fender brand name, FMIC also owns Guild guitars, Charvel Guitars, Jackson Guitars, SWR Bass Amplification, Tacoma Guitars, EVH products, and is the exclusive worldwide distributor of Gretsch Guitars.
Kaman Chairman and CEO, Paul Kuhn, stated, "We have invested in KMC over the years to build our leadership position in the industry and KMC has been a positive contributor to the overall success of Kaman Corporation. However, our longer-term growth strategy has evolved to a focus on the aerospace and industrial distribution segments, which has meant finding a new home for KMC. We are very pleased to have attracted a strategic buyer of Fender's stature, and we are confident that KMC will have a bright future under Fender's leadership."
"We are delighted to welcome the Kaman Music Corporation into the Fender Family," said Bill Mendello, Chairman and Chief Executive Officer of Fender Musical Instruments Corp. "KMC is one of the most respected companies in the musical instrument industry. We have very similar cultures that have been developed over many years. The distribution expertise that Kaman Music brings to the music marketplace will complement and strengthen FMIC's growing operational excellence and ultimately offer dealers and consumers a better way to access a wider variety of high-quality music products and accessories."
Edward Miller, President of Kaman Music Corporation added, "There is great synergy between Kaman Music and Fender, both of which are deeply rooted in the long history and colorful culture of popular music. The acquisition of Kaman Music by Fender forms the most dynamic partnership of manufacturing and distribution expertise in the music industry."
Kaman was advised by Lazard and the law firm, Skadden, Arps, Slate, Meagher & Flom, LLP. Fender was advised by the law firm, Sullivan & Cromwell LLP.
SOURCE Kaman Corporation
CONTACT: Russell H. Jones, SVP, Chief Investment Officer & Treasurer of
Kaman Corporation, +1-860-243-6307, russell.jones@kaman.com
P{lease note I have no clue what this means for Ovation. I find it interesting that it happenes on my Birthday. |
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Location: CT | AAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHH!!!!!!!!!!! :eek: |
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Location: Texas | Well, I don't know what all of that means either for Ovation - I hope that doesn't mean all ovation/Adamas guitars will be make overseas now. Better buy those USA ovations now, just in case. :rolleyes: |
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Location: Rego Park, NY, | I hope this won't affect our annual trip to the Mothership.
On a happier note Happy Birthday Al!! |
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Location: Minneapolis, Minnesota | Glad I got in when I did....
How's this for irony... I traded my 1980 FENDER 75 Tube amp for my new 2006 12 string Legend LX just this weekend! Karma!!! |
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Location: Minden, Nebraska | Happy Birthday, Al! May the best be yet come.
Now I'm the proud owner of pre-Fender Ovations! |
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Location: NJ | HappyBirthday, Al!! |
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Location: Paris/France | I don't know what to think about this news. :rolleyes:
We will have soon Mexican O's...
And Joyeux Anniversaire Al !!!! ;)
J :) |
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Location: NJ | the most intelligent thing I can think of to say at this point is:
the one constant is that there will always be change. |
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Location: Phoenix AZ | Maybe we have our next gathering in Scottsdale AZ !!! |
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Location: SoCal | Interesting news. It's way way too early to speculate as to what this means. The people at Fender are pretty smart. They took a company, that 25 years ago was worth almost nothing except the name and have built a huge empire. Don't they also own Guild? Anybody know what else they own? Gretch?
Hey, at least Kaman Music wasn't bought by Gibson!
Happy Birthday Al, you old fart, you..... |
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Location: boulder | cheers Al!!!!
if you can't make 'em, buy 'em!!!!!
I agree with Vision btw :rolleyes:
Actually the vxt I played through a fender acoustic sonic (name???) amp w/ built in effects sounded really sweet.
can't see this affecting the mothership to much to quickly...the money making gits are already built overseas, maybe the ct factory will head more in the Hamer direction-less guitars made, higher quality for each. Odd man out would seem to be the benz amps...
the pre fender ovations, man those were the good days... |
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Location: Omaha, NE | I have to think this is good for Ovation. Big time good.
Who would you rather have own you (if you are a guitar factory): An publicly traded, integrated aerospace/industrial manufacturing concern or a privately held music company? Seems like a no brainer to me, notwithstanding that Kaman Corp (and Kaman personally) gave birth to Ovation.
And of course when Fender looks at KMC, they look right past Ovation and see the distribution business. That's the real gem here for them.
I see some chance that Fender would like to spin off Ovation/Hamer and concentrate on the distribution side. But the more likely scenario is that they continue to build their stable of brands and work them internally.
I think this makes sense. |
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Location: Omaha, NE | Oops...posted twice... |
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Location: Latitude 39.56819, Longitude -105.080066 | as moody said...could've been Gibson. I think so far as the sale goes, we were lucky.
I assume my pre-fender ovations just went up 20% in value.
Please check the "for sale" section for my latest offerings! |
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Location: Upper Left USA | First – Happy Birthday Al!
Second – What are the dimensions across the top on your Dreadnaught Wooden Adamas?
Thirdly – My prayers and wishes for all of the Hamer/Ovation Workers as they transition and anticipate the future. Better or worse, richer or poorer…
Fourthly and on topic – I am also a Tacoma Fan and they have made a transition over to FMIC in the last few years. Currently their Factory in Tacoma Washington is robustly working on Tacoma, Guild and other USA made instruments under the FMIC umbrella. In the Tacoma Factory case I have seen the resources to accomplish mission goals provided for and no reduction in work for the Craftspeople in the factory.
I will also state that FMIC’s customer service is at the bottom!
Not personal, not available, no direct lines and the doors are shut to the public.
As my friends at the Unofficial Tacoma fan site do, I will start to refer to my Ovations as “Pre-Fender”.
Fifthly – If it means that the Ovation/Hamer family could set up shop in Tacoma WA I would be happy to provide area information and a warm welcome! |
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Location: Lake Hiawatha, New Jersey | Happy Birthday Al!
I have always found Fender's products to be very well made. They certainly seem to know what they're doing. I just bought a Mexican made Jazz Bass and I'm very happy with it. Very good value for the money. I'm sure that, if it's profitable, they will leave Ovation alone. I hope that it works out well for everyone in CT. |
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Location: Marlton, NJ | I have worked for a couple of companies that have been acquired and I would say that this is at best neutral for Ovation. Best case is that FMIC leaves O alone - worst case - they take what they want (distribution, technology, etc) and get rid of the redundancies. |
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Location: Blue Ridge Mountains | Happy Birthday Al! Many happy returns!
Moody P.I. wrote: Interesting news. It's way way too early to speculate as to what this means. The people at Fender are pretty smart. They took a company, that 25 years ago was worth almost nothing except the name and have built a huge empire. Don't they also own Guild? Anybody know what else they own? Gretch?
The first thing that Fender did when they bought Guild was to move it out of the Northeast factory where they had been made for many many years and took them to the West Coast. I fear that may very well be the fate for Ovation. On one hadn a real shame; on the other, probably a good thing for Ovation in the long run...well I hope so anyway.
Mike Lewis is head of Gretch Guitar Sales (FMIC) worldwide and is a longtime friend of mine: I am going to email him to ge his take on this! |
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Location: Capital District, NY, USA Minor Outlying Islands | Like Woody said, as I'm also a fan of tacoma, it was a shot in the arm for them. I'm hoping the same thing will happen to ovation. It's my recollection, that Guild's are now being built by Tacoma, so the guild people got reduced. But their product wasn't very good, while ovations are top notch.
Since Ovations are sui generis, it'll probably be neutral for them, and they may not move. The Hamer people fill a nitch for high end set necks for Fender, so they may even expand. The question as Tuppy points out so gleefully is where will they be built. Do you consolidate? Are the factories for making set necks and bolt ons so different? Will solid body production be moved to scotsdale? What do the bean counters say? Interesting times. |
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Location: Utah | Maybe at least the O website will be improved and kept up to date!
Will FendOvation start releasing factory distressed signature guitars, like the Clapton Blackie Strat? |
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Location: Canton (Detroit), MI | ALRIGHT!!!! Now my five Os and my five Strats are siblings!!!!! :D
I already had Ovation and Fender stuff intermingled in my den....guess I was just "ahead of my time".....
Roger |
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Location: Flushing, MI | Originally posted by Old Applause Owner:
ALRIGHT!!!! Now my five Os and my five Strats are siblings!!!!! :D
I already had Ovation and Fender stuff intermingled in my den....guess I was just "ahead of my time".....
Roger Yeah, me too - with three O's and three Telecasters. Not to mention a couple of fine old amps.
Ya think Fender will get around to making that round, lyrachord backed resophonic guitar that I've always wanted to see? Call it a D'Ovation (for Dobro and Ovation - get it?). |
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Location: Nashville TN. | Happy Birthday
I not too about this.
Ovation as we know it may end.
I am very concernd for thier future. |
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Location: NW NJ | This whole thing makes me a little sick...
But the bright note is that it is Al's birthday - Happy Birthday Amigo! |
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Location: Vernon CT | I don't see this being a good thing. It's all about money for corporate America. The Co.(Bain Capitol) that owns my Co. 3yrs ago has stripped us clean, cut sales from 6 billion to less the 2 billion. Cut jobs ( after 29 yrs last day is 12/3).
Bain just bought Guitar ctr/Musician friend/Music and Arts ctr. Other co's they own are Staples,
K.B toys. Both these co's were reduced in size,
and I can see the writing on the wall for G.C.
The point is, don't be suprised if the same thing is done to Kaman Music by Fender. |
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| Happy Birthday Al!!
guess I'd better get my repairs and refinishes up to CT pretty quick.
Glenn |
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Location: Boise, Idaho | I hadn't thought about that, Glenn. I may have to rethink my long range plans for repairs. I don't think there's enough time for a short range plan, though, so may have to just wait and see what happens to the service department after January 1. I've owned shares in a few companies that got taken over and it sure didn't help my portfolio. Usually the winners in those deals are the guys with the golden parachutes. |
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Location: Tychy, Poland | Hmm. If Fender won't interfere with Ovation too much (for example move factory, change personell etc.) i don't think there will be major changes. I think one thing that could be in minus, is that i think Fender people won't be so visionaire and they might stop development of Adamas line.
Since i don't have any guitar i could send to them for repair (Probably if i'd send them my "Trainwreck" they'd use only tuning keys and piezo and put it into whole new body) i'm not so scared in short term.
But - to be honest - i was planning on buying some brand new Ovation next year (If dollar will keep it's low position vs Euro and zloty), and i wouldn't like to see Fender Music on the label.
Maybe i'll look for some NOS Custom Legend 30th anniv reissue? ;-)
BTW.
Happy Birthday AL! |
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Location: Le Havre (France) | Joyeux anniversaire Al !!! |
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Location: Capital District, NY, USA Minor Outlying Islands | Actually, you have a good point LBJ. When Tacoma was taken over, they blew out a lot of old stock, so keep an eye out. |
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Location: Tucson, AZ | Originally posted by Phil Wong:
I hope this won't affect our annual trip to the Mothership. ...FWIW Fender is NOT as ameniable to visits as Kaman apparantly was.
...Oh, they DO occassionally have them (I attended one on 2002), but it's clearly NOT something they enjoy doing...even with the PR-guy doing all the talking. |
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Location: SoCal | All we really know at this time is that Fender bought KMC.
Everything else is pure speculation. |
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Location: Slightly northwest of Trader Jim | Remember Harley Davidson? :eek: |
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Location: Scotland | This isn't a guitar company buying a another guitar company, it's a major distributor buying another major distributor. In tems of market share KMC were one of the biggest. Fender wholesale, even though they are only a little over a year old weren't far behind. This will put Fender Wholesale in an incredibly strong position as one of the biggest, if not the biggest musical instrument distributors in the USA and possibly the world. I suspect that Hamer and Ovation, which are merely products in KMC's vast portfolio will not see any changes in the short term. Who knows what will happen in the future, however with the exception of Guild, who as a company were pretty much dead in the water when Fender aquired the name, they seem to be letting their other brands (and they have lots, Gretsch, Jackson, SWR etc) just get on with it. |
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Location: Nashville TN. | Originally posted by moody, p.i.:
All we really know at this time is that Fender bought KMC.
Everything else is pure speculation. I know what they did with Guild.
Ovation not a West Coast company.
I hope it doesn't become one. |
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Location: Canton (Detroit), MI | But Guild was pretty much "dead" anyway. Ovation is a profitable concern. It would cost more money than it would be worth to move Ovation to WA and Hamer to CA when there is a perfectly good factory in CT cranking out saleable product apparently at most of capacity.
I don't see big changes coming from the consumer's standpoint within a year or two. Within the company.....well.....who knows? It seems that whoever buys a company has to stick their name on the building and flex their corporate ego.
Roger |
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Location: Parkersburg, WV | Any word on Takamine?
Patsbro |
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Location: SoCal | Well, might be a change in "artist relations" :rolleyes: |
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Location: Chicago | Will I still get my guitar sent back to me after repairs?
How will warranties be honored? |
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Location: Omaha | Well, as human being do, we're all wondering how this will affect each one of us personally; and I wonder if it will mean the end of left-handed Ovations. They still haven't added their LX (new bodies) in a lefty model, this makes me think there will not be ANY lefties made very soon down the road...this is what happened with Guild after the Fender purchase.
Guild used to be fairly lefty friendly,now they offer a total of ONE (Chinese) lefty Guild, a dreadnaught. I should have ordered a lefty Bluesbird around 5-6 years ago when I was thinking about it!
And, once again, my timing is terrible; I just sold my 'pre-Fender' lefty Legend L777-5! |
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Location: Madison, Wisconsin | Mauvais? |
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Location: The Great Pacific Northwest | As someone said, it's all speculation.
I have been thinking today of what to say, maybe words of encouragement, but can't think of anything except this one possible thread killer..
Has anyone, ever, anywhere, heard of an acquisition, of any size, that in the long run turned out to be a good thing for the people in general, of the company bought?
I can think of many that started out with good intentions. I can think of a few where the company (with different people) prospered at least for the short term, but in the long term, I have seen MANY just fade away or dissolve.
Once in awhile, the "staple" makes it full circle. Someone mentioned Harley Davidson, and in the guitar world there Traveler was bought by Fender and is now Traveler again and doing better than ever.
Again, it's all speculation and I wish all of our friends in CT the best. |
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Location: Upper Left USA | We need a new instrument Maker in the Northwest.
And you know you can do it! |
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Location: SoCal | Michael,
But we need dry wood...most of the year, you're humidity is 100%
:eek: :eek: :p :eek: :eek: |
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Location: Budd Lake, NJ | Willard, I've been thinking the same thing--CWK2, where be you? Are you bound and gagged someplace, struggling for release, working against your bonds, hoping that an onslaught of bereted Fishsticks and French Fries will rescue you? Or perhaps you know all and can't tell? The silence is deafening....
--Karen |
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Location: Madison, Wisconsin | My guess is he's unable to comment due to contractual agreements but it would be nice to know he's still alive and as you say, not bound and gagged. |
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Location: Nova Scotia, Canada | As much as I like (old) Fender stuff, I'm just not feeling the love at all right now. |
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Location: big island | he's making cameo appearances on the takamine forum today... |
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Location: 6 String Ranch | I got a phone call this morning and found out then, just like all of you. Trust me on this, I'm the last person that the KMC people will be telling stuff to.
I think what this all means is that there may be Adamacasters in the future. Maybe Ballacasters, Customlegencasters. Work with it, it might grow on you...... |
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Location: Budd Lake, NJ | So does athlete's foot...and warts...and cellulite...
--Karen |
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Location: Phoenix, AZ | Originally posted by Mauvais Beal:
I got a phone call this morning and found out then, just like all of you. Trust me on this, I'm the last person that the KMC people will be telling stuff to.
I think what this all means is that there may be Adamacasters in the future. Maybe Ballacasters, Customlegencasters. Work with it, it might grow on you...... You might be right. And, realistically, we have no choice but to wait and see what happens.
But, right now, I don't feel so good. I ordered a Deluxe Balladeer in 1969. I took a chance on you and your father. I loved that guitar, and I still have it. Over the years, I could count on Ovation standing behind what they made, and, somehow, always making something that felt good and sounded good. While I do have a Tele, I do not get the feeling from FMIC that I can count on them to keep making something I will want. They try new things, but when the public does not flock to the new, they drop them and go back to relic'g and resurecting the old.
Porsche has used the line "there is no substitute" for many years. In thinking of acoustics, I can not come up with anything which might take the place of an Ovation. |
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Location: Brisbane Australia | Let's be positive about this.
It is better to be bought by a company of strength and standing in the same industry than maybe by some private equity group that wouldn't know a headstock from a vibrato.
Fender obviously thought buying Kaman was an asset. I would expect them to treat it as such and bring the good and positive things to their organisation. We can only hope.
Aren't pre CBS Fenders worth more?
I agree with some of the previous posts about pre Fender O's.
Birthday greetings from "Downunder" Al :) |
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Location: Orlando, FL | Wow! This was pretty unexpected news. It's only natural to expect the worst. But you never know, hopefully Fender will keep a hands off approach with a successful company. |
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Location: Marlton, NJ | I have just about the same feelings now as I had when working for the acquired company - uncertainty, fear, a little bit of excitement. I hope it turns out for the best. |
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Location: Thailand | Happy Birthday, Al
povation |
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Location: Omaha, NE | Honestly guys, I don't see how this is anything other than good news.
KMC inside of Kaman Corp was always an akward fit at best. Ever go to the Kaman Corp web site and see the banner graphic at the top? It has a montage of a helicopter, a guitar and some sort of industrial motor or pump. I don't consider myself anything like an expert on the dynamics of a diversified conglomerate, but it does seem to me that there should be an apparent synergy between divisions. Other than being an object of personal interest to CWK, the music division always seemed like the odd one out to me. BTW, there is a lot of interesting info to be culled from the Kaman Corp annual report .
So, you are Fender and you bought this thing. What have you got? I am totally speculating here, but I think they want the distribution business first and foremost. The name of the game for them is to grow through acquisition to a point where they have sufficient top line revenue to take the whole thing public. That's the play.
The impact on Ovation? Hard to say. The annual report doesn't break out revenue inside of KMC, so I don't know what impact Ovation has financially. But one thing is for sure: This may be a perfect time to take Ovation/Hamer Guitars private. That would be an interesting project. I'd love to get a look at the numbers and see if it could work. |
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Location: Central Massachusetts | Hope they don't have to give back the laser vibrometer! Sending good thoughts to the Ovation, Adamas, and Hamer folks in CT..
The little company I worked for got swallowed up by a big fish a few years ago. Even though I'm still gainfully employed, it's a huge cultural shift and many people opted not to ride it out even given the opportunity. |
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Location: Central Oregon | Originally posted by Callimachus:
Michael,
But we need dry wood...most of the year, you're humidity is 100%
:eek: :eek: :p :eek: :eek: I d'ruther be a little wet than one fire Tony! :)
And Happy Birthday Al! |
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Location: Central Oregon | Originally posted by Mauvais Beal:
I think what this all means is that there may be Adamacasters in the future. Maybe Ballacasters, Customlegencasters. Work with it, it might grow on you...... A custom Legend with a Fender headstock & a whammy bar! Oh yeah! |
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Location: Colorado Rocky Mountains | I have mixed feelings about this and sure hope for the best. I lean towards the belief that it is better to be (1) a self-contained profitable company that is (2) owned by a parent company that is in the same business rather than (3) being owned by a company in an unrelated business that has lost its historical attachment to the subordinate company. On the upside, Fender has tremendous capital and respect behind its name, and it understands the value of artist endorsement. On the downside, if it wants to grow the Ovation business, I can't imagine it will find much long-term advantage in doing so in a 150 year old patched up factory building that is charming and quaint, with a good heritage, but otherwise at its limit in production capacity. It would be nice to have some Fender execs, techies and fans (in addition to those of us who already appreciate Fender products) join this board and let us know what they think about this deal. |
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Location: Michigan | The sky is falling , The sky is falling ,
Chill Out Please..........
When a company buys a competitor it usually means that they are weak in the market that they need to get into ( Ovations / Adamas )so they have to buy one to stay in the game.
Has anyone ever seen a high end Fender acoustic/electric??
The last thing I think that they would do is immediatley start trying to change up the Ovation Adamas guitar line.
I was at my local guitar store last month and the owner knew that I had Ovations and opened up a brand new all carbon fibre guitar ( forgot the brand ) for me to play . There are some new players coming into the Carbon Fibre market so what better business decision for Fender to do than to buy a proven profitible guitar business and start making money with it right out of the gate unstead of having to spend a fortune on starting into a new venture that might take years to develop and possibly fail.
A high end Acoustic/Electric is a weak link in the Fender family and Ovation/Adamas brings them into the game right now.
Carbon Fibre is the future and Fender knows it.
Thats my take on it.GWB |
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Location: Houston, TX | First, Happy Birthday Mr. Pepiak. Thanks again for doing all you do.
Second, might want to prepare for more traffic on the site.
I agree with much of what has been said already - don't really know what it means, or how it will turn out. But I can understand a little bit of a sense of loss, or feeling nostalgic. I think I posted one time long ago in some marketing (click!) conversation that I liked the fact that Ovation and Hamer weren't necessarily measuring success in units moved. They occupied a nice niche that I relate to, and I don't really care if the masses get it. I think there are others on this board that share that sentiment, and it probably contributes somewhat to the sense of community on this board.
Now things have changed, but like everything else that happens I'll keep rolling with it until it doesn't make sense to me anymore.
I hope there is job security for all in Conn so they continue making great instruments. |
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Location: Rego Park, NY, | As long as Miles and Al don't change OFC to the "Ovation Fender Club" everything will probably be okay. On the other hand what do I know I only dispense drugs for a living. :rolleyes: |
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Location: 6 String Ranch | It's kinda like hearing that your ex-wife just died. |
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Location: SoCal | It's kinda like hearing that your ex-wife just died. Probably more for you, Beal, than the rest of us.... |
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Location: East Tennessee | Hopefully it will be a good thing. |
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Location: Nashville TN. | Originally posted by Phil Wong:
As long as Miles and Al don't change OFC to the "Ovation Fender Club" everything will probably be okay. On the other hand what do I know I only dispense drugs for a living. :rolleyes: Could make for more things to hurl out of the siege engine????
hum.........
naw
they just sell it relic for big money
Limited edition
New Hartford Relic
$5000
On the Bight side we getting 100% of Glen Campbell |
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Location: Nashville TN. | Now when I play my orginal song "The Luithier Song"
I only Have to worry about 2 companiesz givin me a cease and desist orders
The Luither Song
Words and Music by Paul Edward Zukowski
(c) 2004
Lets hear it for the men who built our Guitars
Those that let our fingers sing
Lets hear it for the men who built our Guitars
Without them we would not have a thing
Alfred Dronge you gave us Guild Guitar
with its one piece arched back
And Leo Fender gave us the Telecaster
He gave us that Stratocaster too.
Lets hear it for the men who built our Guitars
Those that let our fingers sing
Lets hear it for the men who built our Guitars
Without them we would not have a thing
Charlie Kaman gave us that wild
roundback Ovation Guitar
Then he gave us the graphite Adamas Model
its sitting in the Smithsonian
Lets hear it for the men who built our Guitars
Those that let our fingers sing
Lets hear it for the men who built our Guitars
Without them we would not have a thing
CF Martin you are quite the man
you made this here D-28
Its great sound only thing redneck like me
and Hippy can totally agree
Lets hear it for the men who built our Guitars
Those that let our fingers sing
Lets hear it for the men who built our Guitars
Without them we would not have a thing
Lets hear it for the men who built our Guitars
Those that let our fingers sing
Lets hear it for the men who built our Guitars
Without them we would not have a thing
Without you we would not have a thing |
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Location: Nashville TN. | I forgot I have to change verse 3 as effective
Nov 1 I'll be playing it on a 1719 Custom Legend.
Just change this to those. |
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Location: Boise, Idaho | Zukowski? Al, don't we have more than our quota of Pollocks on this board? |
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Posts: 194
Location: Las Vegas | Hey, Fender's had great luck with reissues of all kinds... maybe they'll want to reissue some classic Ovation solid and hollow body electrics, hmmmmmmmm?
Not to mention amps... |
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Location: NJ | Originally posted by Mark in Boise:
Zukowski? Al, don't we have more than our quota of Pollocks on this board? eh.....
scotty beams them down right in front of me |
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Posts: 11039
Location: Earth·SolarSystem·LocalInterstellarCloud·Local Bub | there's a good Polish joke in there somewhere, Al...
"Beam us down, Scottowski..."
"She's uhready set on "Defrost", Cap'n" |
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July 2003
Posts: 3111
Location: Nashville TN. | Originally posted by Jewel's Mom:
So does athlete's foot...and warts...and cellulite...
--Karen So
Karen
ROTFMAO!!!!!!
Fender fungus amonug us??
I think I like you!!
I like some Fender products.
I have CS setneck strat
"The Twin" tube amp.
Fender Champion 600 tube amp
and a Fender Passport 150.
Fender is a musical intrument maker and distributor. Better KMC goes there than
some investments banker who have no
knowledge of music business.
Plus with Fenders nastagia stuff,
Maybe Breadwinner Viper UKII Preacher and
Electric Storms might come back in small numbers
once in a while.
All have become collecable and have rising prices
PLus there may sharing of developement with the
VXT and VG Strat. Both habe huge potential.
Its not all bad news, but the unknown is scarry. |
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Location: Nashville TN. | Originally posted by xbj:
Hey, Fender's had great luck with reissues of all kinds... maybe they'll want to reissue some classic Ovation solid and hollow body electrics, hmmmmmmmm?
Not to mention amps... LOL
I had the same thought |
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Location: Cherry Hill, NJ | A pre CBS Fender... A pre Fender, Ovation. Could bring value to our existing collection. We've always said that Ovations don't get the respect they deserve. Could Fender change things? I guess it all remains to be seen. Just as long as they don't change the personal touch from that little old guitar factory in the 150 year old brick building in New Hartford, Ct. |
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Location: Nashville TN. | Originally posted by Mark in Boise:
Zukowski? Al, don't we have more than our quota of Pollocks on this board? I been since 2003
I'm in under the quota!!! |
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Location: Nashville TN. | Originally posted by Tommy M.:
A pre CBS Fender... A pre Fender, Ovation. Could bring value to our existing collection. We've always said that Ovations don't get the respect they deserve. Could Fender change things? I guess it all remains to be seen. Just as long as they don't change the personal touch from that little old guitar factory in the 150 year old brick building in New Hartford, Ct. Pre fender Ovations like will become full fledge collectors ideam.
Almost without a doubt.
I imagine the last Pre Fender USA Ovation may be snapped up real quickly off store shelfs. |
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Location: Boise, Idaho | Just kidding, PEZ. Maybe I should sign with my real name.
Mark Prusynski |
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Location: Nashville TN. | Originally posted by Mark in Boise:
Just kidding, PEZ. Maybe I should sign with my real name.
Mark Prusynski I know
I was kidding back |
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Location: Orange County, California | Happy (belated) B-Day Al.
When one large corporation (advised by lawyers) "buys" another large corporation (also advised by lawyers, usually stock the stock holders and the lawyers go play golf and have lunch somewhere, big money changes hands, and nothing really changes down-stream (unless the buyer has a penchant for gutting their acquisitions) that wasn't going to happen eventually. I really think KMC is an improvement to Fender's overall package. |
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Location: Australia | As a major fan of Gretsch guitars I can tell you that the Fender involvement has been a godsend for what was a fledgling brand.
They seem to understand what players want and totally revamped the spec's and the range of instruments to the point where a pre Fender is generally nowhere near as good a guitar as a post model.
Also their marketing with the "Frontline" style magazines has also worked really well for Gretsch.
I think Fender definately see great untaped potential in the Ovation and Hamer lines and will give both lines a big kick along which can only be a good thing.
....only time will tell |
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Location: Central Florida | Originally posted by richardd:
As a major fan of Gretsch guitars I can tell you that the Fender involvement has been a godsend for what was a fledgling brand.
They seem to understand what players want and totally revamped the spec's and the range of instruments to the point where a pre Fender is generally nowhere near as good a guitar as a post model.
Also their marketing with the "Frontline" style magazines has also worked really well for Gretsch.
I think Fender definately see great untaped potential in the Ovation and Hamer lines and will give both lines a big kick along which can only be a good thing.
....only time will tell As the proud and very happy owner of a "Post-Fender" Gretsch Country Gent, I have to agree with the above statement. While news of the sale came as a big surprise to most of us, I honestly believe it will be good for Ovation. My only concern is if Ovation-Hamer Customer service defaults to Arizona, which I hope it doesn't. |
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Location: Campbell River, British Columbia | I DO hope the Fender Reps pick up on our irreverent sense of humour as they flood this board....... |
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Location: Budd Lake, NJ | Yeah, except for those of us who may not have been being funny...... :D ;)
--Karen |
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Location: 6 String Ranch | I hear that Hamer is going to come out with a reissue of the Daytona. Would be something new for Fender. |
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Location: The Great Pacific Northwest | I guess I was ahead of the times for a change..
This is an actual Fender "Goth" Strat with an Ovation neck!!!! I put this together a couple of years ago. Maybe it sent some subliminal message. |
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Location: Sunshine State, Australia | 1) Happy Birthday Al
2) I don't think I'm too happy about this takeover. Time will tell. |
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Location: GATLINBURG TENNESSEE :) | I hope that the one good thing that come from this is a fresh marketing strategy for Adamas/Ovation guitars. As we have discussed many times before, marketing has really sucked. |
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Location: Texas | I have heard through the local guitar shops that knew about this aquisition before I did - all Fender wants is the distribution part of Ovation. Ovation has one and Fender doesn't. So my question is, if this is true, does Fender not know how to develop their own distriubtion center - do they have to buy a company to accomplish that?
I am sending my 1537 off to the mothership this week. I am not waiting around to see if customer service takes a dive and I hope John Budney is still part of all of this - he is so great and my guitars come back in perfect condition. Will that happen under Fender's control?
I don't know what the future holds but I have been through a large company purchasing the company I worked for - it wasn't pretty. Everything that was being done right, was changed. Offices were closed and many people lost their jobs or had to uproot their families to another location in the country.
Do I like what is happening - NO!!! |
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Location: NJ | ". . So my question is, if this is true, does Fender not know how to develop their own distriubtion center - do they have to buy a company to accomplish that? . ."
It's not the physical "Distribution Center".
I'm sure FMIC has several.
What they're acquiring is the distribution rights to various LINES of instruments (like Latin Percussion, for example) and the ability to incorporate the network that goes with it into FMIC. |
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Location: south east Michigan | Fender's knobs now go to "11"... so to speak. |
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Location: Texas | I hate change. :rolleyes: |
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Location: GA USA | I wonder what's the real prize that Fender is seeking in the purchase. Is it possible they might want the Takamine action to the detriment of Ovation, or plan to promote Ovation and do away with some other part of Kaman? |
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Location: Nashville TN. | Originally posted by guitargirl777:
Well my day is fairly ruined after reading this tidbit!! As a CT resident, how nice it has been to take a short drive upstate when I have wanted/needed work done etc. I really hope they don't do a Guild repeat performance! I like having Ovation in my home state...puts us on the map. So do I but a trade article says KMC will operate on its own for 3 years.
Lets hope that doesn't turn bad at 3 years 1 day. | |
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| "I wonder what's the real prize that Fender is seeking in the purchase."
That's the heart of the problem. If Fender was specific about why they were doing this, there wouldn't be all the questions and speculation about future job security, customer service, and product quality. I would like to think that Fender knew Kaman/Ovation were fine the way they are, and that's why they bought into them. | |
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Location: GA USA | Me too, Steve. I'll stay optimistic until I have a reason not to be. | |
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Location: Nashville TN. | Originally posted by Steve:
"I wonder what's the real prize that Fender is seeking in the purchase."
That's the heart of the problem. If Fender was specific about why they were doing this, there wouldn't be all the questions and speculation about future job security, customer service, and product quality. I would like to think that Fender knew Kaman/Ovation were fine the way they are, and that's why they bought into them. Reading the news stories its pretty obvious the wanted the KMC music distribution stuff. | |
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Location: Phoenix AZ | Maybe I'm just being stupid, but isn't it possible that being bought out by a huge musical instrument company with major name brand recognition is a good thing? Maybe increases the R&D funds available, improves advertising, more artist endorsements, lowers cost of raw materials, improves product quality, better benefits and salary for the employees? Maybe this is BETTER job security than being an odd fitting minority piece in a helicopter company? Does nobody ever think of the upside? Sure, nobody likes change. I know that it's all speculation and there's not a damn thing we can do about it, but it just surprises me that everyone immediately assumes the worst case scenario. | |
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Location: NJ | Dave is absoLUTEly right!!!
He IS being stupid. | |
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Location: NJ | But seriously Dave, I tend to agree with you.
The company that I work for is owned by a parent Corporation that owns six or seven other companies.
Said companies are ALL inter-related in the SAME industry.
One of our biggest competitors used to be owned by Dial Soap (still might be, I dunno). It got to the point that the parent Corporation didn't give a SH!T about our particular industry, . . . only the Bottom Line of the Annual Report to the Stockholders.
- one of the main factors as to WHY we took so much business away from them . . . | |
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Location: Colorado Rocky Mountains | I tend to agree with you, Tupp, and I think I said so when the news first broke. | |
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Location: Campbell River, British Columbia | But where's the entertainment value in that? Nothing but sweetness and light, joy and dancing.
Blech!
(that said, until someone has proof otherwise, it seems like a very good fit. Nobody kills equity. Nobody sane.) | |
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Location: Vermont USA | Better Fender than Gibson!
Someone give me an Amen
Pauly | |
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Location: Blue Ridge Mountains | 
"What, me worry?" | |
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Location: Blue Ridge Mountains | 
What, me worry? | |
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Location: south east Michigan | Tuppy's right.
Well said bro.
Look at the first posts on this subject and what you see expressed most is a heart felt concern for our friends at the Mothership. Guitars were coming in a distant second. | |
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Location: Boise, Idaho | Just visited the local mom and pop guitar store. They deal with Fender, but don't like Ovations. I was the first to tell them about the sale. Their response was that maybe now Fender will get their orders straight. They were pretty fed up with Fender.
Maybe KMC will solve the problem for Fender. Maybe not. | |
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Location: south east Michigan | The quote from our local independent guy was.."As if they don't have enough problems already." | |
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Location: SoCal | Brad, you and I both pointed out (along with Temp) that there was definitely an upside to this. It just takes a while for Tupp to process all this. Then he thinks it's his idea. Cliff was right.
Tupp is being stupid...... | |
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Location: The Great Pacific Northwest | In general, I'm a glass half-full vs half-empty. There are a lot of potential plus's for the brands involved. However, my biggest concern is for the fine folks in New Hartford and Bloomfield, CT. (and any other presence owned by Kaman)
It just goes back to something I have said before and that is... in my entire life, having been involved with my share of buyouts and mergers, while the "resulting company/brand" may end up in a better place, and the owners may end up better off, I have never ever never seen where it worked out well in the long term for the folks of the company that was acquired.
As we are all dreaming and speculating... Maybe the first order of business that Fender will do when the dust clears is to sell off Hamer and Ovation guitars to some US firm that is willing to keep the traditions alive. Maybe with exclusive distribution rights to FMI. | |
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Location: SoCal | Who knows? Maybe we should all pool our pennies and buy Ovation/Hamer and see if we could find some ex-gas jockey to run it..... | |
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Location: NJ | well I am usually the doom and gloom guy.
but I keep saying stop speculating and let it unfold and deal with it as it happens. that is all we can do. | |
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Location: Colorado Rocky Mountains | Originally posted by moody, p.i.:
Who knows? Maybe we should all pool our pennies and buy Ovation/Hamer and see if we could find some ex-gas jockey to run it..... This formula sure worked for Harley when a private group of investors bought the company from AMF back in the 80's. | |
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Location: SoCal | Al, I just saw an opportunity to pick on Tupp. I agree with you. | |
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Location: Nashville TN. | Originally posted by moody, p.i.:
Who knows? Maybe we should all pool our pennies and buy Ovation/Hamer and see if we could find some ex-gas jockey to run it..... Ironically I was going to buy a few shares of Kaman
right before this happen.
I had the same thought | |
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Location: Phoenix, AZ | Originally posted by ProfessorBB:
Originally posted by moody, p.i.:
Who knows? Maybe we should all pool our pennies and buy Ovation/Hamer and see if we could find some ex-gas jockey to run it..... This formula sure worked for Harley when a private group of investors bought the company from AMF back in the 80's. | |
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Location: GATLINBURG TENNESSEE :) | but I keep saying stop speculating and let it unfold and deal with it as it happens. that is all we can do.
...
In the mean time I think it would be a good idea to buy up all of the USA made ovations that are left to be aquired! (: | |
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Location: The Great Pacific Northwest | Fender has a nice contest going...
But I'd prefer this...
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Location: Colorado | Sheesh...I leave for a month or so - come back and the mothership is now part of another planet. | |
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Location: Campbell River, British Columbia | I was wondering who caused all this.
Now we know. | |
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Kaman sold to Fender