The upcoming Guns n Roses album was due in 1994 or so, and I really hope that no record company executives' jobs are hanging in the balance over that one. ;-)
It is sad for Morrissey though. It happens so many times that a company will fold and the artists they have under contract can't release anything or record for anyone else until they go through the legal hassles of sorting out their contracts. So it is sad to see this happen and I hope that somehow they work it out. That article makes it sound like it's just a matter of time until they fail though. It sounds like they are going to have to pay substantial interest for this bailout loan, and with only until the end of the month to pay it back, how can they possibly make it?
And of course paying their artists is not going to be their first priority. I am speculating, but I would think this might give Morrissey more incentive to tour, for the income.
