Doerfler Posted April 15, 2022 Share Posted April 15, 2022 The 165-year-old company is expected to list shares on NYSE after being held by John Paulson’s hedge fund https://www.wsj.com/articles/piano-maker-steinway-plans-to-go-public-11650045962?st=f5el1ne20xfom1c&reflink=desktopwebshare_permalink Quote Link to comment Share on other sites More sharing options...
drohm Posted April 15, 2022 Share Posted April 15, 2022 I was surprised to see their revenue is over $100million. People must still be buying pianos. Quote NS3C, Hammond XK5, Yamaha S7X, Sequential Prophet 6, Yamaha YC73, Roland Jupiter X Link to comment Share on other sites More sharing options...
Jim Alfredson Posted April 15, 2022 Share Posted April 15, 2022 Well, it was a nice run. 1 Quote Keep it greazy! B3tles - Soul Jazz THEO - Prog Rock Link to comment Share on other sites More sharing options...
kaptainkeys Posted April 15, 2022 Share Posted April 15, 2022 11 minutes ago, drohm said: I was surprised to see their revenue is over $100million. People must still be buying pianos. It certainly helps your revenue when your pianos retail at upwards of $100k. Even if the only people who buy your pianos are multi millionaires, you are still raking in a ton of dough for each piano. Quote Instruments: Walters Grand Console Upright Piano circa 1950 something, Kurzweil PC4-88, my voice Link to comment Share on other sites More sharing options...
ElmerJFudd Posted April 15, 2022 Share Posted April 15, 2022 Oh my. Here we go. Quote Yamaha CP88, Casio PX-560 Link to comment Share on other sites More sharing options...
Doerfler Posted April 16, 2022 Author Share Posted April 16, 2022 2 hours ago, drohm said: People must still be buying pianos. Biggest market is China 1 Quote Link to comment Share on other sites More sharing options...
Tusker Posted April 16, 2022 Share Posted April 16, 2022 Asian countries are rapidly becoming attractive to luxury brands as large numbers of upper middle class consumers are being created by rising post-colonial economies. 1 Quote Link to comment Share on other sites More sharing options...
Delaware Dave Posted April 16, 2022 Share Posted April 16, 2022 13 hours ago, Jim Alfredson said: Well, it was a nice run. lol Quote 57 Hammond B3; 69 Hammond L100P; 68 Leslie 122; Kurzweil Forte7 & PC3; M-Audio Code 61; Voce V5+; Neo Vent; EV ELX112P; GSI Gemini & Burn Delaware Dave Exit93band Link to comment Share on other sites More sharing options...
ProfD Posted April 16, 2022 Share Posted April 16, 2022 I think Steinway shares would be a better place for me to park $35k instead of buying a used Jupiter 8.😁😎 Quote PD "The greatest thing you'll ever learn, is just to love and be loved in return."--E. Ahbez "Nature Boy" Link to comment Share on other sites More sharing options...
The Real MC Posted April 16, 2022 Share Posted April 16, 2022 CBS, a publicly traded company, owned Steinway during the 1970s and proceeded to replace certain components in the piano. The replacements were enough to make the piano inferior and many artists steered away from Steinway. After CBS relinquished control Steinway immediately reversed the changes, but it took years to restore their reputation. Quote Link to comment Share on other sites More sharing options...
Docbop Posted April 16, 2022 Share Posted April 16, 2022 2 hours ago, The Real MC said: CBS, a publicly traded company, owned Steinway during the 1970s and proceeded to replace certain components in the piano. The replacements were enough to make the piano inferior and many artists steered away from Steinway. After CBS relinquished control Steinway immediately reversed the changes, but it took years to restore their reputation. Sound like when CBS bought Fender and guitarist started asking for "Pre-CBS" Fender guitars and amps. Funny now people are paying vintage prices for same era Fenders just because they are old. Gibson when through same thing in the 70's with their "Norlin era". These mega corporation buy up good companies and think they can cheapen the products to increase profit margins and it bites the customers and company reputation in the ass. Quote Link to comment Share on other sites More sharing options...
drohm Posted April 16, 2022 Share Posted April 16, 2022 2 hours ago, The Real MC said: CBS, a publicly traded company, owned Steinway during the 1970s and proceeded to replace certain components in the piano. The replacements were enough to make the piano inferior and many artists steered away from Steinway. After CBS relinquished control Steinway immediately reversed the changes, but it took years to restore their reputation. They are still inferior to more current Yamaha grands, imho Quote NS3C, Hammond XK5, Yamaha S7X, Sequential Prophet 6, Yamaha YC73, Roland Jupiter X Link to comment Share on other sites More sharing options...
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