News

The Ukulele Craze Continues…

Christian Wissmuller •
  • Upfront
• August 19, 2013
{youtube}RylxBtEM0sI{/youtube} Fast-forward to the 3:50 point to hear a uke as you've never heard it before!  Read More...

Musser Arrives in Elkhart

Christian Wissmuller •
  • Upfront
• August 19, 2013

With new positions in the south plant and the equipment in place Musser is settling in well to its new home at the Conn-Selmer Elkhart Campus.  Full production began this week (August 18).

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Steinway Sale: Paulson Tops Samick and Kohlberg in Bid, Doubles Share Value

Christian Wissmuller •
  • Upfront
• August 16, 2013

Hedge fund billionaire John Paulson really wants Steinway. While just this past December Steinway stock was selling at $20 a share, he is now paying $40.

A bidding war was sparked by Paulson’s unexpected bid this past Tuesday. The move prompted Steinway’s biggest shareholder, Samick Musical Instruments, to attempt to grab the company for $39 a share. Paulson & Co. quickly shot back with a $40 a share offer, pushing the value of the company to $512 million

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Fishman names Norton Vice President of Retail Sales

Christian Wissmuller •
  • People
• August 14, 2013

Fishman has appointed Bill Norton as VP of Retail Sales. Formerly a professional musician with an extensive background in global distribution and sales, Norton brings a wealth of experience to his new position. Prior to joining Fishman, Norton spent several years as COO at New Hampshire-based Earthworks Microphones.

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Steinway Deal Turnaround: Billionaire John Paulson Beats Kohlberg Offer

Christian Wissmuller •
  • Upfront
• August 14, 2013

In a surprise move, billionaire John Paulson looks set to take the keys of Steinway Musical Instruments. Private equity firm Kohlberg & Co., which had made an offer on the company on July 1 of this year, yesterday waived its right to negotiate when Paulson stepped in unexpectedly with a higher offer. On the table was a $35 a share bid which many in this industry thought was generous indeed, but it was trumped by Paulson’s $38 a share, placing a value on the 160-year-old American piano maker at $478m.

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New Developments in Steinway Sale

Christian Wissmuller •
  • Upfront
• August 13, 2013

As reported in MMR, on July 1 Steinway Musical Instruments agreed to an acquisition by private equity firm, Kohlberg & Co. The deal was for a reported $438 million and was projected to close in the third quarter of 2013.

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Trade Regrets: Maurice Fox

Christian Wissmuller •
  • Trade Regrets
• August 12, 2013

Longtime music retailer, Maurice Fox, passed away August 9th, at the age of 82.

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GC Unionization in Chicago

Christian Wissmuller •
  • Upfront
• August 12, 2013

Just a few months since the late-May unionization of the Manhattan Guitar Center retail outlet, employees at a Guitar Center store in Chicago have now voted to form the company's second-ever retail union. This is another significant win for the Retail, Wholesale and Department Store Union (RWDSU), which was unable to unionize two additional New York stores earlier this summer. The new bargaining unit in Chicago will seek to improve wages and to change the store's sales commission structure.

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Personnel Shifts at Young Chang North America

Christian Wissmuller •
  • People
• August 9, 2013

Glenn Clutter has rejoined the sales team at Young Chang North America. He will be representing Young Chang, Weber, Albert Weber and Kurzweil pianos in the Southeastern United States - including Texas. Clutter has had an extensive career as a manufacturer’s representative in the piano industry. "I'm excited to be joining the team at HDC Young Chang North America. The company has made an incredible commitment and investment in an optimal new scale design and new products throughout the line. This is an exciting opportunity to help dealers improve their sales numbers and profits in both acoustic and digitals."

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Seiler Unveils Long-Term Strategy For North America Market

Christian Wissmuller •
  • Upfront
• August 9, 2013

Seiler Pianos, European maker of pianos and grands since 1849, officially launched its new marketing strategy for the North American market during its recent dealer meeting in Nashville, Tenn. The two-day meeting, held at the historic Union Station Hotel, featured the introduction of new lower-priced lines based off the authentic Seiler German designs, a comprehensive suite of marketing tools to support dealers at every level of the selling process, as well as complete point of purchase mural and kiosk to help distinguish the Seiler brand in showrooms.

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D’Addario Honored in Italy

hoff •
  • Supplier Scene
• August 8, 2013
  The D’Addario family was honored this past June in their hometown of Salle, Italy at the inauguration of the Museo Delle Corde Armoniche.   The museum was created to pay tribute to the many cordari (string-making families) that arose from the town.  The mayor of Salle presented a key to the city to Suzanne and […] Read More...

Rotosound Endorsees The Vaccines, Skindred, White Lies and More

hoff •
  • Supplier Scene
• August 8, 2013
Rotosound Endorsees played to millions of fans this summer at the years highest profile festivals and stages throughout the country. At this year’s V Festival, three accomplished bass players, Michael 'Smooth Groove' Hamilton, Andrea Goldsworthy and Henry Guy, will be supporting multi-award winning ladies Jessie J, Paloma Faith, and Katy B. Following on from a big […] Read More...

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