Tag Archives: John Fogerty

Random Notes

You’ve probably received emails from the likes of the New York Times and the Washington Post encouraging you to subscribe in order to support the investigative journalism that the papers perform. Yes, while there’s lots of stuff that you can get for free online, paying people to do the work is not free, so if you want to get that information, you have to support it. (Ironically enough, you are getting this for free and I am getting nothing for it. Go figure.)

I recently received a subscription solicitation in my inbox with the subject line:

Support the journalists speaking truth to power

One of those papers or The New Republic or The Atlantic or National Review or Mother Jones?

No. Rolling Stone.

While I know that the solid work of Matt Taibbi appears in the pages of RS, here’s the question: If the objective is to support solid political reporting (assuming, of course, that speaking truth to power doesn’t mean the heads of record companies or Daniel Ek), is getting a subscription to Rolling Stone the right place to spend?

Well, there is that tote bag.

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In 1997 David Bowie created, working with Prudential Financial, “Bowie bonds.” When issued, they had a face value of $1,000 and were a long-term investment, as they had a maturity of 10 years.

The purpose of the bonds was to raise money so that Bowie could buy back the rights to the music on albums released between 1969 and 1990.

There was $55 million raised.

This approach became something like the special purpose acquisition company (SPAC) phenomenon that is now all the range especially in tech circles, as variants were created for James Brown and others. (One would have thought that the King of Soul could simply mint is own money, but alas. . . ).

Bowie bonds came to mind as the management company for BTS, Big Hit, went public on the Korean stock exchange and had an immediate valuation of initially $7.6-billion, which then dropped to about $4-billion, and while the number is probably something entirely different right now, odds are that unless something completely unexpected happens to the seven-member band that has been performing since 2010, odds are Big Hit will continue to be a big hit, as the members of the band are undoubtedly fungible.

The thing about music that isn’t often taken into account is the fact that it is the “music industry,” just like, say, the “auto industry.”

The $55-million of Bowie 1997 would be worth about $89 million today.

Or $3,911,000,000 short of Big Hit.

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Reports from Right Now

When you hear people say, “The world has certainly changed since—” the timeframe is generally more than 20 years. But things—even though as we endure the seemingly endless COVID-19 conditions, which make one day seem pretty much like another and so time takes on a different dynamic from our personal perspectives—are accelerating such that what is arguably recent history at most seems like a quainter period of time.

Case in point: in London, on March 10, 2003, Natalie Maines, lead singer of the band then known as the Dixie Chicks, said to a concert crowd, “We don’t want this war, this violence, and we’re ashamed that the president of the United States is from Texas.”

The war she referred to was the Iraq War, which overthrew Saddam Hussein. It was the war that was part of the search for WMD. It was the war that included pronouncements from Iraqi Information Minister Mohammed Saeed al-Sahaf that were so absurd and disconnected from reality that he became known as “Baghdad Bob.”

Here we are 17 years later, when the current president says things—at home and abroad—about his political foes, people from other countries, the media, judges, elected officials, and others that make Maines’ comment a case study in “Why was that a big deal?” Who talks about things like the COVID-19 pandemic in a way that makes what Baghdad Bob was saying seem as though it was sage, thoughtful commentary.

Maines’ comment in 2003 pretty much tanked the band’s career for a number of years because it was taken to be the height of insult, something that just wasn’t said, especially when one was in a different country. (Maines was born in Lubbock: one would imagine that proud Texans would have vociferously stood up for one of their own. After all, George W. Bush may have moved to Texas, but he was born in New Haven, Connecticut.)

Seventeen years seems like a century—or more—ago.

Continue reading Reports from Right Now