‘NY Times’ Article Explores Fender’s Recent IPO Attempt
On September 29, The New York Times published an article which aimed to detail the overall “health” and game-plan of Fender Musical Instruments Corporation. In addition to outlining what the article portrayed as a likely over-reliance on Guitar Center for the overall financial well-being of the company, Fender’s recent IPO attempt was discussed.
“Bankers and investors scoffed. Fender, they said, was trying to go public as a ‘growth’ company when its sales were declining,” notes the author. Recent perceived failures of high-profile IPO’s were also cited as being a factor in Fender’s ultimate decision to not go public. “Nobody wants to be embarrassed like Facebook,” said an analyst quoted in the piece.