Posted by Jim Burger on Jul 23, 2012
So after our posting about the Fender IPO, everyone decided they were overvalued, and they had to pull the plug! Here's an interesting news report on Fender pulling its planned IPO, from Fortune magazine.
It almost makes Fender look like one big Ponzi scheme -- there have been a series of sales and financings, the bulk of which seem to have been used to pay off whoever did the previous financing.
Meanwhile, it also looks like they are also pretty tight in bed with Guitar Center, who is doing terribly.
Interesting reading, anyway...