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.

Sly Stone Fooled Again

This Robert knows what it's like not to earn any $ from your music.

Sly Stone, what a sad tale of deceit and fraud. You claim you've been ripped off for the last 20 years, for 80 million bucks.

This Robert believes you. Your current manager, the mysterious Mr. Goldstein, not only fooled you. He fooled your former manager, the Mercantile National Bank, Sony Music, Warner/Chappell publishing, BMI, Soundexchange and the IRS.

I bet you didn't know in 1965 Jerry Goldstein and his posse ripped off the band name, The Strangeloves, from three Australian brothers, when they had their 1st hit. Dressing up in shaggy wigs and exotic clothing, they stole the shaggy brothers look too. Looks like Goldstein's at it again, when he stole Sly and the Family Stone from you. What a sad note for Grammy Day.

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.

Web 2.0 Eats Its Own

Imeem, the popular music site, didn't even defend itself in court, and they lost big.

U.S. District Court Judge Denny Chin has fined the music site $1.77 million for copyright infringement. It seems The Orchard wanted Imeem to pay $150,000 per instance of infringement.

Imeem sold some of it's assets to MySpace, and folded. Imeem executives blame the lawsuit for shutting the doors.

How sad, the Web 2.0 music sites are eating their own. Please note The Orchard used copyright law just like the big boys. This Robert wonders if The Orchard is going to see any of this $?

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.

Guy Hands, Record Biz Casualty

Well, well, Mr. Guy Hands, seems like you are another casualty of the record biz. Just like I warned you. It ain't as easy as it looks. What are you going to do now that Citigroup rejected your debt restructuring proposal? Looks like that patient Edgar Bronfman at Warner Music is finally going to gobble EMI up.