MUSIC INDUSTRY: Say Goodbye to Emi

Moses Avalon I know, I know. I'm usually the guy who's very Bullish on the condition of the music business, but this is one story even I cannot spin upward. To save the beleaguered major label, EMI, its owner, Guy Hands has about a month to come up with about $150 Million to satisfy payroll and debts. In real estate terms, Hands is upside down on his house. He now owes more than he can sell the company for and his bank, Citigroup, is forcing him to foreclose rather than give him the chance to ...

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