New Boss Not The Same As The Old Boss

This Robert can't seem to keep EMI out of his blog. Now it seems that recently appointed CEO, Elio Leoni-Sceti, is history, and a T.V. man, Charles Allen, is the new boss.


Looks like trying to sell Abbey Road Studios and being sued by Pink Floyd for selling their music is worse than increasing sales, or are we witnessing the dawn of a new era? Is this the big clue that we're finally going to see a merger with the patient Mr.Edgar Bronfman's WMG? It seems Old Charlie has a history as Mr. Merger.

White Knight For Abbey Road Studios

My, my, Mr. Andrew Lloyd Webber wants to buy Abbey Road Studios now that Guy Hands has EMI selling the family jewels. This Robert is wondering if Lloyd Webber is going to be the highest bidder. 'Cause that's what really matters when you're hocking stuff to pay off the man.

Everyone Gets It But Guy

This Robert's been going on and on about Guy Hands and all those bankers trashing a jewel of a company, EMI, one of the last remaining stand alone music companies.

But Mr. Simon Duke has done such a splendid job of explaining just how bad this really is.

This Robert defers to him.

Guy Hands Pawns Abbey Road Studios

This Robert thought he's seen it all, but now our Guy Hands is selling off one of EMI's treasures to keep the bank off his back. Abbey Road Studios is on the blocks. "Come on Guy," this Robert's saying "Give it up! You're in way over your head."

2 Billion, A Lot To Lose

Well, well Mr. Guy Hands, how does it feel to lose 2 billion dollars? And you still have to come up with 120 million by June to keep the doors open. This Robert wonders, is anyone going to throw any more money down that dry hole? Especially when the head of EMI's recorded division warns you "that morale among the record company's staff and artists (and those artists' managers) was at an all time low."

Looks like that patient Edgar Bronfman is getting closer to his dream of buying EMI's record division. Plus, if this takes much longer, Mr. Bronfman might not have to pay much. This Robert remembers when Mr. Bronfman was going to pay big for the same thing. Instead Terra Firma bought it and saved WMG a billion.

Guy Hands Smart With Trash, Dumb With Music

Mr. Guy Hands, I see you're busking. Trying to attract some fools into buying part of your music business folly.

I hear you're having the record company write a business plan, and then you're going to pitch it to investors. Let this Robert write the business plan. It's the same for every record company ever been: "Hits, Hits. and more Hits!" That's the only way that the storied EMI won't fall into the hands of patient Edgar Bronfman and his WMG.

Guy, being smart with trash doesn't make you a music man.

Beatles Bailout EMI As Usual

What's a bailed out bank doing in the recorded music business? During the high flying days of banking, Citigroup loaned Guy Hands' company, Terra Firma, billions to purchase EMI. Neither company knew anything about music. As you can guess, things went south. The banking crisis and the music business collapse makes this loan look questionable.

Citigroup wants to get their money back. Selling EMI to Edgar Bronfman and his Warner Music Group is the easiest way to accomplish that. But that leaves Guy Hands and Terra Firma out in the cold. Seems Hands and his company wants to hang on and get better terms. So to continue to repay the huge debt, EMI had to meet certain monetary considerations set by Citigroup.

It seems EMI's recorded music division just squeaked by, and barely passed the bank's financial status test, so they can continue to operate for now. So as it has in the past, the Beatles catalog bails out EMI. This Robert wonders how long can this go on? So does the patient Mr. Edgar Bronfman.

Guy Hands, Sour Grapes

Well, Well, Guy Hands you don't give up easily. Seems your company Terra Firma is suing Citigroup over the purchase of the EMI music company. You claim the banker, who lent your company money to buy a wonderful company back in 2007, lied to you. Your law suit also alleges that naughty Citigroup isn't lending EMI any more money so those sleazy bankers can make more money from patient Edgar Brofman's Warner Music Group by letting EMI go broke. Is this sour grapes Mr. Hands? Guy, I told you, you were in over your head. Your company paid too much, the economy tanked, and you don't know anything about the tricky music business. This Robert wonders, maybe Citigroup is right, someone else should be running EMI.

Save The Echo Chambers

It just snowed, maybe my last snow day, but don't worry about this Robert, I just got a kayak.

Before I go hit the slopes, I must agree with an RIAA company for the first time this year. I think EMI should save the echo chambers in the Capital Tower. These echo chambers are unique, and they would be a loss to the world of music if their character changed.

Guy Slices Paul's McCartney's Pink Slip

This snowboarding thing has got me. I'm spending all my time getting goofy. I wonder if Guy Hands at EMI is getting goofy, or if he's got the right line down the music business' slippery slope?

Mr. Hands is a financier with no music business history. His fortune came from investing in pubs and waste management. The current music industry is littered with the corpses of good business men who didn't get the record business. Since the mass manufacture of the 45 rpm records, successful record companies bribed disc jockeys and cheated recording artists. Guy, exactly how are you going to correct that?

Mr. Hands, did you hear Paul McCartney called your company boring? Damn, that's the pot calling the kettle black. Your company made Sir Paul a zillionaire and now's he's dissing you. Is he a spoiled artist or a realist?