Tuesday, May 17, 2005

Reznor Got Billy Joeled

According to billboard.com, Trent Reznor feels he got duped by his manager:

Reznor testified he trusted Malm [his manager] more than anyone in his life when he agreed to let him handle his finances in the 1980s as the band signed its first record contract. "John was the business guy, and I was the guy working for nothing in the studio," Reznor told jurors. He said the pair created their own production company and managed sales of merchandise but the expenses piled up, draining large portions of the millions of dollars the band earned with its albums and concert tours. He admitted he ignored his finances and sometimes signed documents without reading or understanding them.

Reznor said he began to grow worried about finances when he was told during a meeting with Malm and a lawyer in 2002 that there was "cause for alarm." The following year, he said, he asked Malm to tell him how much money he had. He said he was sent a financial statement that revealed he had at most $3 million in total assets and as little as $400,000 in cash.
You can send your contributions to the Trent Reznor Relief Fund care of me.

No comments: