Fender cancels its IPO

[xenophobe]

You're right, great name but shitty overleveraged business that's been milked dry by their private equity owners. Fender was LBO'd years ago by Weston Presidio (in SF), same private equity firm that owns Guitar Center (in fact they brought in CEO Larry Thomas, former CEO of GC). Margins are horrible, especially for one of the 2 best brands in the business. Been watching this deal for years, could have bought Fender for nothing in the early 90s when they were in trouble post-CBS but didn't do anything about it, recently looked at it when the investment bankers were shopping it around, but passed on it due to unrealistic valuation expectations.

Be glad you didn't participate in the IPO, it would've tanked in this market.

WP is hoping to come back when the market improves, think they'll be waiting a while...

I wonder if they had to do anything to show a profit on the books that'll end up haunting them for the next fiscal year.... If that's the case, they won't be going public for at least a few more years...