response 64 of 71:

Dec 27 05:27 UTC 2001

LA Times story:  the record biz is reeling from big dollar contracts
given to big name stars whose sales have plummeted.  Our sample 
artists are Mariah Carey, REM and Macy Gray.
 
http://www.latimes.com/business/la-000102156dec26.story?coll=la%2Dheadlines
%2Dbusiness%2Dmanual
(sorry about the wrap)
"Labels Singing The Blues Over Expensive Failures"
 
quote:

> The Carey deal has turned out so badly that EMI music chief 
> Alain Levy, hired after the album was released, has initiated an 
> unusual attempt to cut the company's losses. Representatives for 
> EMI and Carey declined to comment. But several sources close to the 
> talks say EMI is pushing for a settlement with Carey under which 
> the singer would receive a multimillion-dollar lump sum in exchange 
> for agreeing to exit EMI's Virgin Records label.
> 
> "The cost of doing business is out of control," said one label chief 
> who spoke on condition of anonymity. ...