Pianotech

  • 1.  Steinway going public

    Registered Piano Technician
    Posted 04-14-2022 12:20
      |   view attached
    See attached article from Barrons 

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    David Love RPT
    www.davidlovepianos.com
    davidlovepianos@comcast.net
    415 407 8320
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    Attachment(s)

    pdf
    steinway.pdf   446 KB 1 version


  • 2.  RE: Steinway going public

    Registered Piano Technician
    Posted 04-20-2022 08:22
    We should all pat ourselves on the back for our part in returning Steinway to profitability. It was a big sacrifice, ordering all parts from the factory and saving our Steinway owners from the dreaded "Steinwas" banishment, but we all decided it was worth it and did it.

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    William Ballard RPT
    WBPS
    Saxtons River VT
    802-869-9107

    "Our lives contain a thousand springs
    and dies if one be gone
    Strange that a harp of a thousand strings
    should keep in tune so long."
    ...........Dr. Watts, "The Continental Harmony,1774
    +++++++++++++++++++++
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  • 3.  RE: Steinway going public

    Registered Piano Technician
    Posted 04-21-2022 21:14
    It sounds suspiciously like a way to raise money to keep open. Time will tell.

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    David Dewey
    Oroville CA
    530-589-3676
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  • 4.  RE: Steinway going public

    Registered Piano Technician
    Posted 04-22-2022 00:27
    Uh, that is the point of going public.

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    David Love RPT
    www.davidlovepianos.com
    davidlovepianos@comcast.net
    415 407 8320
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  • 5.  RE: Steinway going public

    Registered Piano Technician
    Posted 04-22-2022 02:32
    Well, in this case a lot of the money will go straight into John Paulson's pockets; always better to use other people's money as they say.
    Hard to figure the financials that cover the pandemic years and that a 3rd of their sales came from Spirios, these sales include Boston and Essex they way they describe it. I don't know. 
    The local dealer here is stocking up on high end used instruments because he thinks it might be a year before he can get any new stock from S&S. And the supply of the Asian imports is pretty thin as well.

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    Steven Rosenthal
    Honolulu HI
    808-521-7129
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  • 6.  RE: Steinway going public

    Registered Piano Technician
    Posted 04-23-2022 00:29
    Yes it will. I don't think this is a good thing.

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    David Love RPT
    www.davidlovepianos.com
    davidlovepianos@comcast.net
    415 407 8320
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  • 7.  RE: Steinway going public

    Registered Piano Technician
    Posted 04-23-2022 23:22
    Most manufacturers of musical instruments are owned by holding companies these days and their ethos is a far cry from the esthetic/craft ethos of musical instrument building.
    By way of example when we're talking about S&S, we are talking about Steinway Musical Instruments Inc., who owns and operates manufacturers of winds, strings, percussion, etc, including many venerable names such as Conn, LeBlanc, Musser, Ludwig, and many more. And SMI Inc. isn't the biggest holding company owned conglomerate in music manufacturing. While S&S may be the crown jewel, it's probably not the most powerful engine economically, Steinway's currency is prestige which is the only reason the corporation bears its name. 
    https://en.wikipedia.org/wiki/Steinway_Musical_Instruments

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    Steven Rosenthal
    Honolulu HI
    808-521-7129
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  • 8.  RE: Steinway going public

    Registered Piano Technician
    Posted 04-24-2022 21:02
    Just for what it's worth. S&S is coming off of the best 2 years in it's history. They literally can't make the pianos fast enough. That is coupled with the best pianos they've produced in the last 100 years. Almost impossible to tell a NY from a Hamburg. Boston and Essex are suffering from the same supply chain issues as all the other Asian pianos except possibly Yamaha. The IPO will definitely put money into Mr. Paulson's account but given how much he's invested in the company in the past few years and how much he's improved the product I'd say he's earned it.
    I sometimes wish that those who frequently talk about Steinway would take an opportunity to go and find a new one to see what they're like these days. From most of what people write about them I'd think it was still1978 and CBS was still insisting that the permafree action center was a great advance in piano technology.

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    Karl Roeder
    Pompano Beach FL
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  • 9.  RE: Steinway going public

    Registered Piano Technician
    Posted 04-25-2022 00:26
    There are many companies coming off their best two years. The reasons for that vary. 
    I wouldn't jump to conclusions to quickly. Some of us who talk about them do see new ones and frequently. I would say they are still somewhat uneven.  They can be quite good or not so much. There are still significant differences between NY and Hamburg in both design and execution. They remain a favorite piano of mine when they are good. 


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    David Love RPT
    www.davidlovepianos.com
    davidlovepianos@comcast.net
    415 407 8320
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