FAT WRECK CHORDS ADMITS DEFEAT! SELLS ENTIRE CATALOG OF MUSIC!
So Fat Mike recently sold off his entire catalog of music to Hopeless Records in an effort to "cover debts" of Fat Wreck artists. Debts that racked up over 3.5 million.
Which begs the question, a few questions actually...
1) How much of that debt belonged to Fat Mike / NOFX themselves? I'd be willing to bet it was much more more than 50%.
2) Where did the money go? Probably up Fat Mike's crooked nose.
3) Has Fat Mike been over-valuing his artists' studio time in order to use it as a tax write-off? Very likely.
So the so-called "biggest punk band on the planet" has been operating in the red this entire time? Yikes!
You're telling me, a band that was able to sell out multiple dates at each venue they toured, and owned a record label that constantly pumped out new versions of vinyl has been operating millions of dollars in debt this entire time?
Fat Wreck Chords has even charged their fans double or triple the price for certain vinyl varaints, even after making their fans drive miles across state or country for the "opportunity" to buy said vinyl... Keep in mind that there is NOTHING SPECIAL about these over-priced vinyl variants except for the color. They all have the same exact music you can hear on other vinyl variants, or even on Spotify for free! But hey, some other loser halfway across the globe might buy it off of you on ebay for a 5x mark-up!
How many gold vinyl "band variants" have been sold off by NOFX band memebers for drug money? Probably a lot. Although we all know their drummer Eric Sandin can't be accused of this, and bravo for him.
These are the people you look up to? Scammers who use you and your musical scene as a complete resource to fund their lifestyles of debauchery?
An overweight, raspy voiced musician who fudged his tax books in the same manner as Donald Trump or Nancy Pelosi? All while trying to demonize Donald John Trump for doing the same thing? Kids... we call that hypocrisy. And it says far more than any blog or lyric ever will.
If anyone else ran a business for over 30 years and end up millions of dollars in debt, you would call that person an ABSOLUTE FAILURE! But because this absolute failure in particular snorted lines backstage and never gave enough of a fuck about you to learn how to sing properly, you think he's God? Pathetic!
The article announcing the sell-off claims it was in order to leave fat artists "debt free." Or is that just a cheerful way of saying: "NOFX ripped off other artists on the label, used them to fund their debaucherous lifestyles, and now Fat Mike wants to retire?"
Don't buy any of this nonsense about "goodwill" towards leaving artists "debt free" when we ALL KNOW that the biggest contributor to that debt was Fat Mike and NOFX themselves.
Maybe Fat Mike shouldn't have told KROQ to stop playing "Bottles to the Ground" on mainstream radio airwaves back in 2001 after-all.
And how long will it be before Hopeless sells the catalog to a major label like Sony?
Choose your idols wisely, kids.
