Anyway, I scan headlines for interesting pieces to post up here on the blog. Yes, I tend to look specifically for articles that are related to finances, so when I came across this piece on CNN Money, I did a double take.
Duff McKagan, the tattooed, former bassist for Guns N’ Roses, is opening a financial consulting firm specifically targeting rock stars. I’ll give you a second to let that soak in.
Apparently, McKagan’s pancreas “exploded” (as described by Rolling Stone) in 1994 due to his excessive use of drugs and alcohol. While he was recovering, he stumbled across a treasure trove of financial documents pertaining to Guns N’ Roses.
As he looked at it, he had no clue what any of it meant, so he took upon himself to find out. He enrolled in college – initially just a basic finance course at a community college – but that eventually blossomed into full-time coursework at Seattle University. While his music career has continued on with other bands, he is opening his consulting firm, Meridian Rock, with Andy Bottomley, a former banker.
Their goal, once the company is fully running, is to help musicians understand their finances, so when their musical career is over, they won’t be totally broke. They want to avoid the intermediaries and deal with the talent directly, using plain English, so the talent understands what is happening with their money.
I don’t know about you, but I think it’s a pretty cool idea. The fact that McKagan got his head on straight and is now willing to help other musicians understand their finances is something I never would have imagined when I was 18 and listening to Guns N’ Roses. I’m sure this isn’t the first instance of someone doing something to help out his fellow musicians. However, it’s got to be one of the most bizarre: from the Most Dangerous Band in the World to a pancreas that blew up to becoming a financial advisor for musicians.
What do you think?