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NYC to plant 60 pianos at parks, bus stations

Posted June 20, 2010 by greg in Steinway Blog | Comments Off

piano.jpgSteinway Piano Mart

STATEN ISLAND, N.Y. —  Shakespeare gets the credit for coining “all the world’s a stage,” but it’s Luke Jerram who’s trying his darnedest to make it come true.

The British artist’s worldwide concept, called “Play Me, I’m Yours,” brings 60 public pianos to outdoor locations around New York City for two weeks starting Monday.

Donated for the cause and decorated by a host of artists, pianos will reside everywhere from the foot of the Brooklyn Bridge to Lincoln Center and the St. George Ferry Terminal. The installation opens on the same day as the free citywide outdoor festival Make Music New York, which features more than 1,000 concerts at outdoor locations around the city, but “Play Me, I’m Yours” continues for two weeks.

“There’s going to be a huge amount of talent here,” said Jerram in an interview. “The piano’s actually a blank canvas for everyone’s creativity, really, so I just hope the city enjoys it.”

Whether you’re looking to be the next Liberace, Ludwig, or just rock that piano part from Guns N’ Roses’ “November Rain,” here’s your chance to do it. Whether the pianos will draw true entertainers or noisy wanna-bes remains to be seen.

“Is it a good piano? I can’t play a horrible piano,” said jazz pianist Hiroshi Yamazaki, who performs regularly at Lorenzo’s Cabaret at the Hilton Garden Inn in Bloomfield. “I think if you put a public piano in a place, somebody will play, definitely. There are so many amateur players, and people really enjoy playing the piano.”

Jerram already shares stories about a couple meeting for the first time at the pianos, and a mother hearing her daughter play for the first time after years of buying lessons, because the family couldn’t afford an instrument of their own.

The New York City installation is the largest of the project, which since 2008 has brought pianos to London, Sydney and Sao Paulo. Manhattan will get 27 pianos, Brooklyn 10, Queens five, and four to both Staten Island and the Bronx. Besides the ferry terminal, the Staten Island Zoo, the Children’s Museum at Snug Harbor Cultural Center and Botanical Garden and the South Beach Boardwalk all will get pianos.

The 60 pianos coming to New York, installed by artists’ public service organization Sing for Hope, will in most cases be available to ivory-ticklers from 9 a.m. to 10 p.m., Monday to July 5. When the installation is over, the instruments are slated for donation to schools and hospitals, according to the organization, which coordinated the citywide project.

Sing For Hope is still looking for “buddies,” to take care of the instruments, unlocking and locking them at morning and night, and covering them with a heavy tarp in case of bad weather — interested parties should consult www.singforhope.org.

Steinway Piano Mart

Gallatin-based Samick buys a bigger piece of Steinway

Posted April 23, 2010 by greg in Steinway Blog | No comments yet


- Steinway Piano Mart

Gallatin-based Samick Music Corporation has extended its investment in fellow instrument manufacturers with its recent purchase of 1.7 million shares of Waltham, Mass.-based Steinway Musical Instruments Inc. (NYSE: LVB).

The November purchase came about one year after Samick purchased German manufacturing firm Seiler Pianos.

Samick purchased the Steinway shares at $16 each, about 37 percent above the closing market price on Oct. 28, which is the date the purchasing price was set. The purchase increased Samick’s holdings in Steinway to 1.9 million shares, a more than 18 percent stake in the company. Samick Chairman Jong Sup Kim joined the Steinway board of directors as part of the deal.

While Samick is now Steinway’s largest shareholder of common stock, Steinway Chairman Kyle Kirkland and CEO Dana Messina still hold all of the company’s class A shares and more than 80 percent of the company’s voting power.

Samick CEO Baik Lee said the Steinway deal gives the company greater opportunity to collaborate and pursue cooperative work relationships.

“We can expect some kind of synergy effect for both companies,” Lee said. “Their price (for pianos) is higher than our price. We’re not competitors. That’s why we can find the win-win strategy in the piano market.”

The Seiler purchase and the Steinway deal will not have any immediate impact on the company’s operations in Gallatin, which include the company’s headquarters and a 200,000-square-foot manufacturing and distribution facility.

Nonetheless, Gallatin Economic Development Agency Executive Director Clay Walker said the news is encouraging.

“The economy being what it is, you always worry about your existing industry,” Walker said. “Whenever you see companies that are doing well, especially in these economic times, it always makes you feel good.”

Walker said corporate headquarters are Gallatin’s top economic development target. The city has five and hopes to attract more, Walker said.

“Whenever corporate clients do well in Gallatin, it sends that message to other clients that it’s a valuable place to do business in.”

- Steinway Piano Mart

Steinway stock rose on news of better Q3

Posted April 23, 2010 by greg in Steinway Blog | No comments yet


- Steinway Piano Mart

Steinway Musical Instruments Inc. disclosed in a regulatory filing late Thursday that it has parted ways with UHY Advisors as its public accounting firm in favor of New York-based Marcum LLP.

The move was prompted by last week’s disclosure that Marcum had acquired UHY’s New England practice, which is based in Boston.

Waltham, Mass.-based Steinway (NYSE: LVB), a maker of high-end pianos and other musical instruments, said it was informed of the UHY-Marcum deal April 16. The company said UHY, which was already Steinway’s accountant on record for this year, “declined reappointment” three days later.

Steinway’s audit committee formally apointed Marcum as its accountant April 19. UHY audited Steinway’s financial statements for fiscal years 2008 and 2009.

- Steinway Piano Mart

Steinway stock rose on news of better Q3

Posted April 23, 2010 by greg in Steinway Blog | No comments yet


- Steinway Piano Mart

Waltham-based Steinway Musical Instruments Inc. said costs associated with layoffs and building and equipment charges hurt earnings, despite higher quarterly sales.

The musical instrument maker reported net income of $1.8 million, or 21 cents per share, compared with net income of $2.2 million, or 25 cents per share, in the year-ago quarter.

Sales rose 10 percent, to $83 million from $75 million, for the quarter.

The company said its earnings per share for the quarter would have been 16 cents higher but for severance costs related to its closure of its Arizona woodwind plant and approximately $2 million in additional building and equipment impairment charges.

Shares of Steinway were up $2.15 at the close of trading on the New York Stock Exchange Wednesday, up 12 percent on the news to close at $19.80.

Piano sales for the quarter increased 19 percent on higher demand, to $42 million from $36 million in the year-ago quarter, while band and orchestra sales were flat.

In the past few weeks, the company introduced dozens of new band products, including several student instruments. Steinwway officials said early response from dealers has been “very encouraging.”

Officials said they expect to see the benefits of its consolidation in manufacturing operations during 2004.

- Steinway Piano Mart

Squamish artist Jody Broomfield unveils Steinway grand piano

Posted April 23, 2010 by greg in Steinway Blog | No comments yet


- Steinway Piano Mart

Waltham-based Steinway Musical Instruments Inc. said costs associated with layoffs and building and equipment charges hurt earnings, despite higher quarterly sales.

The musical instrument maker reported net income of $1.8 million, or 21 cents per share, compared with net income of $2.2 million, or 25 cents per share, in the year-ago quarter.

Sales rose 10 percent, to $83 million from $75 million, for the quarter.

The company said its earnings per share for the quarter would have been 16 cents higher but for severance costs related to its closure of its Arizona woodwind plant and approximately $2 million in additional building and equipment impairment charges.

Shares of Steinway were up $2.15 at the close of trading on the New York Stock Exchange Wednesday, up 12 percent on the news to close at $19.80.

Piano sales for the quarter increased 19 percent on higher demand, to $42 million from $36 million in the year-ago quarter, while band and orchestra sales were flat.

In the past few weeks, the company introduced dozens of new band products, including several student instruments. Steinwway officials said early response from dealers has been “very encouraging.”

Officials said they expect to see the benefits of its consolidation in manufacturing operations during 2004.

- Steinway Piano Mart

Squamish artist Jody Broomfield unveils Steinway grand piano

Posted March 28, 2010 by greg in Steinway Blog | No comments yet

Today Squamish Nation artist Jody Broomfield unveiled his design on a one-of-a-kind grand piano – valued at $500,000 – at North Vancouver’s Chief Joe Mathias Centre.
The Steinway piano, titled “The Way of Our Ancestors,” will feature in concerts around B.C. before it is auctioned off after the 2010 Olympic Games. Partial proceeds will go to the BC Lions Society for Children with Disabilities.

Tom Lee Music General Manager Graham Blank, who worked with the BC Lions Society to commission the piano, said the initial plan grew from one to two instruments that celebrated aboriginal artwork because project coordinators couldn’t pick one artist to represent the “incredible diversity” of West Coast cultures.

Last June Haida artist Jay Simeon unveiled his Steinway grand piano design “Kuniisii – Music and Mythology,” also up for sale after the 2010 Winter Games.

The Broomfield and Simeon designs make a set called “Black and White in Harmony.”

The pair is valued at $1 million.

At the piano’s unveiling, blues singer Murray Porter gave the inaugural performance and Squamish Nation members shared traditional protocol.

Broomfield designed the Four Host First Nations crest as well as collectible coins for the Royal Canadian

- SouthWest Piano

Piano restoration is eco-friendly

Posted March 28, 2010 by greg in Steinway Blog | No comments yet

Good news – we have lowered our piano restoration packages dramatically for 2010!

Our piano restoration prices have come down due to the economic climate which we foresee as a farily permanent change in our world, and also because we have developed techniques over the years which can speed our processes, such as housing our shop in New Mexico which greatly speeds up the dry time for cracked soundboards (and gives an advantage when shipping a completed instrument back to a more humid climate, due to swelling). Our technicians have 50 years of combined experience and are Steinway trained, although also specialize in Bechstein, Mason Hamlin, Yamaha and many other brands.

Contact us for a complete price list – you will be pleasantly surprised!

Our cross country low shipping rates can not be beat and will ensure your piano arrives safely.


Our eco-friendly piano reconditioning process

b04dbf385637a1e4Belly and strings:
We initially dry out the spruce soundboard wood to bring the moisture content down to 1%, which readily exposes any cracks. We clean out soundboard cracks, seal any ribs which have come loose, and joints at the edges of the case and bracing. Cracks are meticulously repaired by hand using veneers, and eco-friendly glues in an manner similar to fine stringed instrument repair. After testing we’ve found our crack repairs hold up extremely well over time. A final polishing and blending is done with eco-friendly finishing products, and the repairs are hidden. Your piano’s tuning pin block is tested for proper torque and assessed for degeneration. A replacement is built, if needed, including re-drilling to fit your piano and existing tuning pin size. If the old one is still in acceptable condition, we install new strings using a larger set of tuning pins. Only the finest German music wire is used for stringing, along with either Mapes American bass strings, or Isaacs semi-hard Canadian bass strings, depending on what best fits your piano’s existing sonority, and what sound you would like to achieve.
Hammers and action:
If new action parts are needed, we now replace with 100% carbon composite action parts from Wessel, Nickel and Gross. These parts pass our green qualifications, and are superior to old style wood parts. For more information, visit Wesselnickelandgross.com The entire action is regulated back to factory specifications for optimal touch and feel. Finally, a perfect match of felt hammer heads are installed for the sound you aretrying to achieve, including either German Abel and Renner heads, Isaacs Canadian handmade heads, or Ronsen American heads. Hammers are carefully shaped and voiced to meet the sound specifications you desire, and to fit the piano’s location. Keys are balanced and reconditioned and new keytops are installed to give your piano the look and touch of a new instrument from its era. Sorry, we do not use real elephant tusk ivory in this process.
cd9876853222d5d2Refinishing the case:
Your piano case is completely stripped with eco-friendly materials, hand sanded, and assessed to determine the best finish available to bring out either the natural grain of the wood, or an applicable black studio finish. Any deformities and damages are repaired and completely hidden. Sanding sealer is applied and finally the process of applying numerous coats of industry standard eco-friendly finish is completed. We can produce either a high gloss finish or hand rubbed satin finish in your choice of natural wood grain or black satin or gloss finish, either hand rubbed or buffed for optimum results. Original replacement decals are applied to the fallboard above the keys all brass parts including pedals are refinished and hand buffed for hours for a like-new gleam. If necessary, originals are replaced. All minute parts such as original felt, rubber stop buttons, etc. are replaced by hand, to give your finished piano the look and feel of its original new condition, along with its top investment value.


Customer Reviews

We will be happy to forward contact information for some of our recent piano restoration customers, and we hope this will help you to make your decision to work with us on your project. Please contact us for references.

Steinway pianos

Posted March 24, 2010 by greg in Steinway Blog | No comments yet

What is so great about Steinway pianos? Well, for starters each and every Steinway & Sons piano is hand made by master craftsman (with meticulous attention to detail and care) from primarily the finest natural materials. One one side of the spectrum you have companies that mass produce pianos on assembly lines and far on the other side, you have Steinway & Sons who have been making (by hand) the finest pianos in the world for over 150 years. When it comes to sound and performance there is simply no better piano on the market and this is something that many of the world’s finest musicians agree on. This ever growing level of popularity and respect is one of the driving forces behind the ever escalating nature of Steinway piano prices. Yes, provided your Steinway piano receives the proper care and maintenance, it should continue to increase in value over time making it not only a sound investment in your musical enjoyment, but a sound investment from a monetary perspective. The decision to buy a Steinway piano weighs not on whether they are worthy of your dollars (because we all know they are), but on which model is best for you. This is why it is important for you to play as many different models as you can within the price range that you can afford. When you find the right Steinway piano for you it will strike a chord in your heart and you will know that is the one.

- SouthWest Piano

Steinway pianos

Posted March 24, 2010 by greg in Steinway Blog | No comments yet

What is so great about Steinway
pianos
? Well, for starters each and every Steinway & Sons piano
is hand made by master craftsman (with meticulous attention to detail
and care) from primarily the finest natural materials. One one side of
the spectrum you have companies that mass produce pianos on assembly
lines and far on the other side, you have Steinway & Sons who have
been making (by hand) the finest pianos in the world for over 150 years.
When it comes to sound and performance there is simply no better piano
on the market and this is something that many of the world's finest
musicians agree on. This ever growing level of popularity and respect is
one of the driving forces behind the ever escalating nature of Steinway piano prices.
Yes, provided your Steinway
piano
receives the proper care and maintenance, it should continue
to increase in value over time making it not only a sound investment in
your musical enjoyment, but a sound investment from a monetary
perspective. The decision to buy a Steinway piano weighs not on whether they
are worthy of your dollars (because we all know they are), but on which
model is best for you. This is why it is important for you to play as
many different models as you can within the price range that you can
afford. When you find the right Steinway piano for you it will strike a
chord in your heart and you will know that is the one.

- SouthWest Piano

Steinway to be made in China? Not likely!

Posted March 24, 2010 by greg in Steinway Blog | No comments yet

In a recent article, Peter Gregory of Bluemusicgroup.com brings to the forefront a question lingering in the minds of many pianists, musicians and colleagues in the piano industry: Will Steinway pianos not be strong enough financially to survive, and will they, like so many other American piano brands, be forced to become a mass produced consumer grade instrument made in China? His article appears here: http://news.bluemusicgroup.com/?newsID=365

My answer is resoundingly “no.” I understand the hysteria, and confess to asking myself the question: how can Steinway and Sons be hanging on in this economic environment?

My answer is found in their 2009 annual report. Here we see that Steinway piano sales (including Steinway made in USA, Boston made in Japan and Essex made in China) did indeed fall off 21%. However, for a large corporation, this is very much on point. US automakers posted as high as 30% declines last year, as did many consumer goods corporations. This does not necessary signal a sell off point.

Only when piano price dips below average variable costs (not average total costs) would a company even discuss radical steps. I don’t know Steinway’s variable costs, but can surmise that prices are well above them for the time being.

We need to keep in mind that Steinway and Sons is part of a larger corporation Steinway Musical Instruments, Ltd. The band instrument division of Steinway, which includes names like LeBlanc and Selmer woodwinds along with many more, accounts for roughly 40% of gross profits and definitely shows many more units sold than pianos. Steinway declares in their annual report that they have been expanding sales internationally and that “We believe our product offerings have helped us remain competitive at various price points and will continue to do so in the future.” Steinway is simply too diversified to crash and burn in the near future.

We are no doubt in the most bizarre economic times in American history. There are unquestionably changes in demand for consumer goods including pianos. Actually I question whether a piano should be defined as a consumer good. In some homes, yes. But Steinway buyers are largely musical buyers and they have much greater income levels than the average household consumer who may purchase a new Gulbransen baby grand piano for as low as $4000. Steinway’s Boston line of piano buyers earn an average household income of $100,000, while Steinway and Sons buyers top that at $300,000.

Steinway gross sales are off, in both pianos and band instruments. What company’s sales aren’t off? The bottom line is “basic accounting 101” – the balance sheet. Steinway shows a myriad of assets in other areas besides piano sales to easily balance out the liabilities and capital stock side of the accounting equation. And yes, they have large debt. But a closer look shows this is very long term debt not due immediately and it doesn’t outweigh total liquid assets, even in the short term.

My analysis, and I’m glad I looked for the answers since I was fearful as well, shows Steinway to be in a strong financial position, even expanding retail facilities into Asia. Yes, Steinway sold 1.7 million shares to Samick Music of Korea, but these were Ordinary shares and Steinway CEO Dana Messina continues to hold 100% of the companies Class A shares, which represent 80% voting power. Steinway simply used these proceed to retire an outstanding debt.

Keep in mind that this is Samick Music of KOREA, not CHINA, so there is no connection to even surmise that Chinese manufacturers would be branding Chinese made pianos under the Steinway and Sons name. This thought is totally ludicrous. Jong Sup Kim of Samick is not Director of Steinway’s board, as Peter Gregory implies, he is rather one of nine directors who sit on the company’s board, plus a CFO and a CEO.

If consumer responses of the middle class earning $50,000-90,000 household income are any indicator, it is Samick Music who is in a more comfortable financial position owning part of an iconic corporation which is in a good financial position for the long haul. Samick’s piano sales have dropped radically since this consumer bracket which is firmly not buying discretionary items right now.

Steinway was simply happy to acquire proceeds in tough economic times and retired a debt in the process. The company represent an American icon – a branding of old world American craftsmanship, of a bygone era that is in reality still alive. We make that observation daily, and Steinway is damn well aware of it as well, and won’t let that vision die. I suggest that we all calm down and not cry that the sky is falling, when it’s not. This economic mess “is what it is” and will change with all economic cycles and the financially well prepared, like Steinway Musical Instruments, will survive to see another day.

- Greg Gombert, SouthWest Piano

Gallatin-based Samick buys a bigger piece of Steinway

by greg on April 23, 2010 - 0 Comments

- Steinway Piano MartGallatin-based Samick Music Corporation has extended its investment in fellow instrument manufacturers with its recent purchase of 1.7 mill...

Steinway stock rose on news of better Q3

by greg on April 23, 2010 - 0 Comments

- Steinway Piano MartSteinway Musical Instruments Inc. disclosed in a regulatory filing late Thursday that it has parted ways with UHY Advisors as its public ac...

Steinway stock rose on news of better Q3

by greg on April 23, 2010 - 0 Comments

- Steinway Piano MartWaltham-based Steinway Musical Instruments Inc. said costs associated with layoffs and building and equipment charges hurt earnings, despit...

Squamish artist Jody Broomfield unveils Steinway grand piano

by greg on April 23, 2010 - 0 Comments

- Steinway Piano MartWaltham-based Steinway Musical Instruments Inc. said costs associated with layoffs and building and equipment charges hurt earnings, despit...

Squamish artist Jody Broomfield unveils Steinway grand piano

by greg on March 28, 2010 - 0 Comments

Today Squamish Nation artist Jody Broomfield unveiled his design on a one-of-a-kind grand piano – valued at $500,000 – at North Vancouver's Chief Joe Mathia...

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