I was lucky (well, I also have a pretty good skill set) to work in Capitol Studios for 5 years, the longest job I have ever held as an adult. And while there, I wasn't really privy to much of what went on at the label, as the studio tried very hard to remain independent. But I did see and hear things, and I was directly able to see the product coming out of the label. And folks, it wasn't pretty.
On Thursday, Apple Records — which is owned by surviving members Paul McCartney and Ringo Starr and the families of George Harrison and John Lennon — launched legal action in the High Court in London against EMI Group and in the Supreme Court in New York against EMI subsidiary Capitol Records.
Apple Records said in a statement that an audit has determined EMI had not been fulfilling its contract and that the legal action is the result of a breakdown in negotiations between the two sides.
"Despite very clear provisions in our contract, EMI persist in ignoring their obligations and duty to account fairly and with transparency. Apple and The Beatles are, once again, left with no choice but to sue EMI," the company said, adding the claim that it is owed 30 million pounds (about $53 million US).
EMI owns the copyright, in perpetuity, to recordings made by the Beatles.
An EMI spokesperson has declined comment on the litigation, but said that artists requesting an audit of their record label's accounts are "not unusual, but sometimes there are differences of opinion, especially when the contracts are large and complex."
The label is getting a little, well, mature, shall we say, and while The Beatles have clearly been a tremendous revenue stream, still, Capitol will always be know less as the house that Frank built and more as the home of the Beatles and Beach Boys. And while the musical contributions by those groundbreaking groups largely changed the face of music and the music business forever, they haven't exactly been burning up the charts lately.
The person who ran the label most of the time I was there had been in A&R at another label where he did his career wonders by signing Nirvana. Insider stories abound regarding the truth of that situation, but regardless his name will evermore be connected with the band from Seattle. But as President of Capitol, he had yet to make his mark. In an effort to youth-ify the label, he downplayed releases by label stalwarts like Bonnie Raitt, and dropped aging yet still viable artists like Bob Seger and Richard Marx.
In what clearly seemed like an attempt to re-capture the market share of Nirvana fans, he signed Everclear. We see how that worked. They are finally starting to move some units, but still...
The interesting point about all this is that toward the end of every year, it seemed like suddenly a new Beatles product came out. I know, because I always got them as company Christmas presents. Again and again the company continued to strip-mine the Beatles catalog, in what seemed an effort to make year-end numbers and raise dividends.
Don't get me wrong, I love the Anthology. And how I feel about the Beatles' place in history has been recently made clear in my recent post here, cross posted at HuffPo and nicely covered by John @ Crooks & Liars.
But I can't help wonder, if the numbers are down for the company year after year, maybe the label treats to books like Paramount treated Art Buchwald, by reporting that the movie made no profit, by extremely creative book cooking.
I don't know, I'm just sayin'.
Make no mistake: Our mission at Tip Top Equities is to sift through the thousands of underperforming companies out there to find the golden needle in the haystack. A stock worthy of your investment. A stock with the potential for big returns. More often than not, the stocks we profile show a significant increase in stock price, sometimes in days, not months or years. We have come across what we feel is one of those rare deals that the public has not heard about yet. Read on to find out more.
Nano Superlattice Technology Inc. (OTCBB Symbol: NSLT) is a nanotechnology company engaged in the coating of tools and components with nano structured PVD coatings for high-tech industries.
Nano utilizes Arc Bond Sputtering and Superlattice technology to apply multi-layers of super-hard elemental coatings on an array of precision products to achieve a variety of physical properties. The application of the coating on industrial products is designed to change their physical properties, improving a product's durability, resistance, chemical and physical characteristics as well as performance. Nano's super-hard alloy coating materials were especially developed for printed circuit board drills in response to special market requirements
The cutting of circuit boards causes severe wear on the cutting edge of drills and routers. With the increased miniaturization of personal electronics devices the dimensions of holes and cut aways are currently less than 0.2 mm. Nano coats tools with an ultra thin coating (only a few nanometers in thickness) of nitrides which can have a hardness of up to half that of diamond. This has proven to increase tool life by almost ten times. Nano plans to continue research and development into these techniques due to the vast application range for this type of nanotechnology
We believe that Nano is a company on the move. With today�s steady move towards miniaturization we feel that Nano is a company with the right product at the right time. It is our opinion that an investment in Nano will produce great returns for our readers.
Online Stock trading, in the New York Stock Exchange, and Toronto Stock Exchange, or any other stock market requires many hours of stock research. Always consult a stock broker for stock prices of penny stocks, and always seek proper free stock advice, as well as read a stock chart. This is not encouragement to buy stock, but merely a possible hot stock pick. Get a live stock market quote, before making a stock investment or participating in the stock market game or buying or selling a stock option.
Post a Comment