Tuesday, March 26, 2013

Put A Hundred Down & Buy A Car

Dionne Warwick files
for bankruptcy, owes
over $10 million

Warwick, 72, known for "Do You Know the Way to San Jose?" and other popular songs, filed the petition on March 21 in the U.S. Bankruptcy Court in New Jersey, the state where she was born and currently lives. She listed total assets of $25,500 and total liabilities of more than $10.7 million, nearly all tax claims by the Internal Revenue Service and the state of California, according to the filing.
Reuters via Entertainment on Today via Breaking News.


mikey said...

Man. I guess I'll never understand how you blow all that dough. Even with a decent addiction, you manage your resources so you don't run out of money, which is more important than shit...

M. Bouffant said...

Backstage Editor:
Here it looks like taxes. If they aren't w/held & you put them off they can pile up fast, w/ interest. I'd bet a lot of that $10 millon is interest. Plus your "people" can (will) rip you off if you don't keep an eye & a firm hand on them, as will movie studios & record labels.

Lotta times they don't make what you think, between agent & manager percentages, expenses & lies about their contracts. Touring's not cheap either: Triple-scale (or more) for union musicians, hotels, transport, per diems, yada, all of which comes out of the artiste's pocket. (You shoulda heard F. Zappa bitching about having to pay scale to band members during rehearsals.)

Throw in greedy/needy relatives, & season w/ what may be the big thing w/ Ms. Warwick (hitless since ?): Not cutting down on spending & expenses when you've stopped raking in the serious moolah.

And some of these clowns start making big bucks before they're old enough to have any sense, & don't get any sense until it's too damn late. Those who do get habits can easily forget the success faucet can be turned off at any minute, especially if you're strung out & effing up your product.

F. Scott Fitzgerald: "Let me tell you about the very rich. They are different from you and me. They possess and enjoy early, and it does something to them, makes them soft where we are hard, cynical where we are trustful, in a way that, unless you were born rich, it is very difficult to understand."