Popdose: Unsolicited Career Advice for… David Bowie
DwDunphy
· 11 months ago
I actually think DB's done pretty well, career-wise. But there's an army of oldies but yuckies that need help out there still!
EightE1
· 11 months ago
I like his last five records. Hope he does more, but he seems to be more interested in being a patron for other bands (Arcade Fire comes to mind) than making music on his own.
Rob EightE1
DwDunphy
· 11 months ago
I think I met Mr. Skwatzenschitz' assistant once, a Juan Payne-Diaz.
EightE1
· 11 months ago
Or his lawyer, Bud Yuronner?
Steve
· 11 months ago
I think he hit his peak when he managed to fob off $50M in bonds onto his adoring fans back in the 90's.
I wonder if I can get a pricing on those now?
jefito
· 11 months ago
That was pretty awesome, wasn't it?
Elaine
· 11 months ago
Hm. A well-rounded and consistent list of horrible ideas.
As for Bowie Bonds, Wiki sez:
Bowie Bonds are asset-backed securities of current and future revenues of the first 25 albums (287 songs) of David Bowie's collection recorded before 1990. Issued by David Bowie in 1997, they were bought for $55 million by the Prudential Insurance Company. The 287 included songs also acted as collateral to insure the bond. The Bonds were a ten-year issue, after which the royalties of the songs would/did? return to David Bowie. By forfeiting ten years worth of royalties, Bowie was able to receive $55 million up front, which allowed him to buy out the rights to the David Bowie songs owned by a former manager. David Bowie now owns the rights to every one of his songs.
The Bowie Bond issuance was perhaps the first instance of intellectual property rights securitization. The securitization of the collections of other artists, such James Brown, Ashford & Simpson and the Isley Brothers, later followed. These Bonds are named Pullman Bonds after David Pullman, the banker who pushed the original Bowie deal.
Bowie Bonds offer a rich 7.9% yield; however, this is not without risk. In March 2004, Moody's Investors Service lowered the bonds from an A3 rating (the seventh highest rating) to Baa3, one notch above junk status. This downgrade was prompted by lower-than-expected revenue "due to weakness in sales for recorded music." A downgrade to an unnamed company that guarantees the issue was also cited as a reason for the downgrade. The success of Apple's iTunes and other legal online music retailers has led to a renewed interest in Bowie and Pullman Bonds. At this time, Bowie Bonds are not available to individual investors.
I always wondered whatever happened with them.
Robust54
· 11 months ago
Mr. Skwatzenschitz sure dropped a big load of steamy advice on Mr. Bowie. He must be pooped now.
All Comments
Rob
EightE1
I wonder if I can get a pricing on those now?
As for Bowie Bonds, Wiki sez:
Bowie Bonds are asset-backed securities of current and future revenues of the first 25 albums (287 songs) of David Bowie's collection recorded before 1990. Issued by David Bowie in 1997, they were bought for $55 million by the Prudential Insurance Company. The 287 included songs also acted as collateral to insure the bond. The Bonds were a ten-year issue, after which the royalties of the songs would/did? return to David Bowie. By forfeiting ten years worth of royalties, Bowie was able to receive $55 million up front, which allowed him to buy out the rights to the David Bowie songs owned by a former manager. David Bowie now owns the rights to every one of his songs.
The Bowie Bond issuance was perhaps the first instance of intellectual property rights securitization. The securitization of the collections of other artists, such James Brown, Ashford & Simpson and the Isley Brothers, later followed. These Bonds are named Pullman Bonds after David Pullman, the banker who pushed the original Bowie deal.
Bowie Bonds offer a rich 7.9% yield; however, this is not without risk. In March 2004, Moody's Investors Service lowered the bonds from an A3 rating (the seventh highest rating) to Baa3, one notch above junk status. This downgrade was prompted by lower-than-expected revenue "due to weakness in sales for recorded music." A downgrade to an unnamed company that guarantees the issue was also cited as a reason for the downgrade. The success of Apple's iTunes and other legal online music retailers has led to a renewed interest in Bowie and Pullman Bonds. At this time, Bowie Bonds are not available to individual investors.
I always wondered whatever happened with them.