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Old 07-02-2013, 10:52 PM
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bermuda bermuda is offline
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Join Date: Apr 2006
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Default Re: Ludwig's parent company sold

The separation of Steinway and Conn-Selmer has been in the works for a little while, although I'm not certain it happened in the way originally intended. Ludwig was pretty optimistic about the split, and they are doing well financially and the brand retains plenty of value. I doubt that Conn-Selmer would let them go, unless offered a ton of money.

As for Steinway as the parent being restrictive, public companies have to really watch expenditures, because they are obligated to their shareholders to spend money prudently and at the same time, grow their business. It's a fine line. But with less stringent cost justification procedures, Ludwig hs more wiggle room to try some things, spend more to make more, etc.

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