CaughtMeABiggun Posted August 1, 2024 Posted August 1, 2024 I know this is kind of old news, but I just found out about all of this in the last week. I sure hope I'm not right about this, but I can't help but wonder if GSM purchased Dobyn's so that their portfolio would look better to the entity that has now purchased GSM. It's almost like GSM was on the market too when they purchased Dobyn's. Everything that Gary was sold as to why GSM was the right company to sell to probably means nothing now. 1
BassResource.com Administrator Glenn Posted August 1, 2024 BassResource.com Administrator Posted August 1, 2024 No, the sky is not falling. This has already been discussed...
rangerjockey Posted August 1, 2024 Posted August 1, 2024 Once he sold to GSM I'm sure he gave up control of the business decisions. Still, for him personally it's probably the right move. He's about retirement age may as well take the money I think the fishing business in general is getting shaky. Especially the boat side of things. Even for folks who can afford 100k for a boat it's not the smartest way to tie up that kind of money in these times. 1 1
NoFroFishing Posted August 1, 2024 Posted August 1, 2024 Tom Gores and Platinum Equity have already run my beloved Pistons to the ground. He is a scummy business man that leeches and kills everything he touches. The same thing will happen to GSM and Dobyns. If anyone doesnt know who Gores is just look him up and how he made his money. Then try and find a video of him sober. I'll let others be the guinea pigs and wont buy anymore Dobyns until we actually see a clear path of what the company is going to become. I am obsessed with Croix Physyx anyways. 2
BassResource.com Administrator Glenn Posted August 9, 2024 BassResource.com Administrator Posted August 9, 2024 This is nothing new for GSM. They have several shareholders. As they've grown through the years into a billion-dollar company, they've slowly shifted from small equity shareholders to increasingly larger ones as their value increased. Every 3-4 years, a smaller shareholder sells their part to a larger equity firm. That's exactly what happened here. This carefully planned process is what has allowed GSM to grow their brands. Note Yamamoto hasn't been ruined. Instead, they introduced many new products this year at ICAST. So Platinum Equity isn't THE shareholder. They are ONE of them. GSM will continue to thrive and operate as-is. You guys would never have known the difference if the announcement had not been made. 7
garroyo130 Posted August 9, 2024 Posted August 9, 2024 On 7/31/2024 at 10:22 PM, CaughtMeABiggun said: Everything that Gary was sold as to why GSM was the right company to sell to probably means nothing now. He started a company not a non-profit, he could probably give a bass' ass about what happens once he's cashed the check or else he wouldn't have sold. 1
Super User Columbia Craw Posted August 11, 2024 Super User Posted August 11, 2024 On 8/9/2024 at 2:44 PM, garroyo130 said: He started a company not a non-profit, he could probably give a bass' ass about what happens once he's cashed the check or else he wouldn't have sold. it’s obvious you don’t know Gary Dobyns. 2
garroyo130 Posted August 11, 2024 Posted August 11, 2024 9 hours ago, Columbia Craw said: it’s obvious you don’t know Gary Dobyns. Will never claim to know anyone I haven't spent at least a week with face-to-face
NoFroFishing Posted August 13, 2024 Posted August 13, 2024 My rant didn't last long.. I just bought another Dobyns rod 🤥 3
NoFroFishing Posted January 2 Posted January 2 So has anyone else seen the rumor that GSM is shutting down the Dobyns facility and firing everyone? I hope it’s not true but I knew who GSM was and what they do. 1 2
Super User Choporoz Posted January 2 Super User Posted January 2 Appears that the sky is now falling. 😓
Super User Jigfishn10 Posted January 2 Super User Posted January 2 Why is it a bad thing to sell a business for a profit
Super User Choporoz Posted January 2 Super User Posted January 2 12 minutes ago, Jigfishn10 said: Why is it a bad thing to sell a business for a profit Who has suggested that? What folks seem to be outraged about is that Gary Dobyns stated publicly that he was selling with the understanding that his people and Sulphur Springs facilities would remain unaffected. That lasted all of about 7 months, if reports are true. Profit is core to capitalism. My issue is with shareholders and equity investors who produce nothing, but demand short-term profit taking with zero regard for the people, culture and long term viability of the business. It is the cancerous tumor of capitalism, IMO. And it is malignant. 9
Super User Jigfishn10 Posted January 2 Super User Posted January 2 No one suggested it. I just get baffled when a company sells the biz to a lager company people can’t understand it. Companies get bought and sold daily and I get there is a transitional disruption in operations, eventually they get ironed out. It’s just biz as usual EDIT: You must have edited your post after I posted...sorry I totally respect your opinion of the transaction and how it all changed in 7 mos. Admittedly, I don't know all the details of the transaction. Usually when one sells a biz they are asked to stay on for a certain period of time to help with the transition but after that all bets are off, it's not the family run biz any more it's Corporate America. Might not be right, but a fact of life. I have been thru a transaction where the company sold to a venture capitalist and somehow I'm still involved/employed...It was a hard transition with many changes and I had to adjust with it. 1
BassResource.com Administrator Glenn Posted January 2 BassResource.com Administrator Posted January 2 14 hours ago, NoFroFishing said: So has anyone else seen the rumor that GSM is shutting down the Dobyns facility and firing everyone? Because social media is the best source of information. 1 1
NoFroFishing Posted January 2 Posted January 2 28 minutes ago, Glenn said: Because social media is the best source of information. These days thats kind of all we got. With all the rumors swirling a simple response from Gary would be great but the forced silence and deleting any kind of discussion related to it on the Dobyns group page isn't helping. Although from I read he probably can't even say a word due to NDA. Allegedly of course 🤐 2
Jweller Posted January 2 Posted January 2 43 minutes ago, Glenn said: Because social media is the best source of information. One of the GSM sales-managers confirmed Sulphur Springs was closed. It's in the Dobyns facebook community for all to see.
BassResource.com Administrator Glenn Posted January 2 BassResource.com Administrator Posted January 2 Ok guys, take a breath. Here's the scoop....are you ready? ..... They closed down a warehouse and will be shipping from another to improve shipping efficiency. That's it. They are NOT closing Dobyn's Rods. They are not shuttering the plant. Everything is the same. Nothing else has changed. The only thing that will change is the address on the return label. Gary and the CEO of GSM (Eddie) talk regularly and are great friends. Gary is still very much involved in the company, and they will continue to make the great rods they have always made. 2
NoFroFishing Posted January 2 Posted January 2 TBH I dont really care what happens to the company itself even with how much I loved the product. My issue is that Gary said those people wouldn’t lose their jobs. His words and he repeated this many times as being one of the main reasons he did what he did. Im sure he has a fantastic relationship with the man who gave him millions of dollars but right now he looks like a snake. Allegedly of course. 3
PBBrandon Posted January 3 Posted January 3 Hopefully they open up a new warehouse fast. I got a DRX755 that had a guide insert pop out and I’m gonna start having withdrawals if I can’t get it replaced soon 😂
redmeansdistortion Posted January 3 Posted January 3 On 1/2/2025 at 3:15 PM, NoFroFishing said: TBH I dont really care what happens to the company itself even with how much I loved the product. My issue is that Gary said those people wouldn’t lose their jobs. His words and he repeated this many times as being one of the main reasons he did what he did. I've been through buyouts and mergers the last 20 years. Counting off the top of my head, 6 of them. The grim reality of it, somebody almost always loses their job. Either positions are shuffled to different locations for the sake of efficiency (doublespeak for cheaper labor), or a position was already occupied. This is a big problem across all industries. 1
Super User F14A-B Posted January 3 Super User Posted January 3 Well no matter what they’re plenty of good to great rod manufacturers right here in the US of A. 1
NoFroFishing Posted January 7 Posted January 7 Funny how Mr Glenn closed down the other thread after calling everyone with concerns gossiping housewives. if you want to talk about leaving out critical information how about the fact that everyone lost their jobs after Gary said they wouldn’t. What’s your take on that Glenn? moderation here can really be a joke.
MediumMouthBass Posted January 7 Posted January 7 I understand why Glenn doesnt want rumors spreading, but to be fair it was true. And how will we know otherwise or not unless we can talk about it? But something did change, the employees who just got fired. Id say their lives changed, wouldnt you? So sad to see so many people across several places completely just ignore this, and pretend like its nothing at all. I know its business, and thats what happens. But still. Now to the main event, a company firing staff isnt the reason people are upset, (especially on the Dobyns FB group) its because a promise was made, that nothing would change, and the staff/employees would stay on. If this promise wasnt kept (even if it was in the best interest of saving money for a business) what other promises will be walked back? And if they did this to save money, what corner will be cut the next time they need to save some more? Thats what i and many others are thinking. But anything that Gary or GSM assured us is null and void now. Since you know GSM was bought out by Platinum Equity in October. (This isnt a rumor, its public knowledge). I truly hope the best for Dobyns rods/GSM/Platinum going forward, and that this will only be a setback. I love the Dobyns rod i have and would like to keep buying them.
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