>Baldwin continues to be dismantled piece by piece, having already sold >many of it's most valuable assets. I just got my May issue of the Music >Trades. One of the headlines: "Biasco Buys Baldwin Company Stores". >snip >The "*$##@" of Baldwin" AKA Karen Hendrics quotes in part: >"This sale is part of our plan to de-leverage Baldwin's balance sheet >and restore the company to profitability." > >I guess they figure if they sell everything they won't have anything >left to worry about. > >Rob Goodale, RPT >Las Vegas, NV Actually, from what I here from a very reliable source in the industry the problem is this: They've run out of cash and have already missed a payroll. That's what they mean when they say they're feeling pressure on liquidity. Sort of like if you had very little cash in your pocket, next to nothing in the bank and your credit cards are maxed out, yet your bills keep coming in. What do you do; you sell the boat, sell the motorcycle,the cabin in the mountains, etc. My source said that they were trying to get dealers to accept pianos in leu of cash due them -- Glenn Grafton Grafton Piano & Organ Co. 1081 County Line Rd. Souderton PA 18964 http://www.graftonpiano.com/ glenn@graftonpiano.com 800-272-5980 The box said "Requires Windows 95, or better." So I bought a Macintosh.
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