Ross Valory Bankrupt Question

[journeyrock]

You people are so silly. Where in this...

I remember briefly reading a while ago that after Perry fired him he went bankrupt. Is this true?

I dont know why I'm bothered, just wanted to know.

...Does youkeepmewaiting blame Perry for Ross's bankruptcy? Being an indirect source of something doesn't make you directly responsible. (Sane) people don't blame their financial woes on their bosses after they get fired.

If Ross was in bankruptcy, it was his own problem.

You are correct...Except that Perry didn't help the situation any by firing Ross. Perry effectively eliminated Ross' income by not allowing him to tour with Journey.

According to HH, Ross and Smitty both got paid as if they were in the band regardless of being fired.

[Red13JoePa]

Herbie said Ross made some bad investments (I think Cain too) in the early-mid 80s.

Ross is more than likely swimming in loot again and Cain too, ESPECIALLY with all the writing credits.

Neal's got Nocturne AND Journey so he is literally printing money.

[youkeepmewaiting]

You people are so silly. Where in this...

I remember briefly reading a while ago that after Perry fired him he went bankrupt. Is this true?

I dont know why I'm bothered, just wanted to know.

...Does youkeepmewaiting blame Perry for Ross's bankruptcy? Being an indirect source of something doesn't make you directly responsible. (Sane) people don't blame their financial woes on their bosses after they get fired.

If Ross was in bankruptcy, it was his own problem.

You are correct...Except that Perry didn't help the situation any by firing Ross. Perry effectively eliminated Ross' income by not allowing him to tour with Journey.

According to HH, Ross and Smitty both got paid as if they were in the band regardless of being fired.

Really? I cant see that they would have got paid for a tour that they wernt even on... but then again the pay off that they recieved could have been quite high

[Red13JoePa]

According to Herbie that;s what happened.
The band paid Ross and Smitty as well as Baird and Jaxon.

[youkeepmewaiting]

According to Herbie that;s what happened.
The band paid Ross and Smitty as well as Baird and Jaxon.

Suppose it kept them happy, Ross and Smith probably would have been able to sue for loss of income if they didnt pay them for the tour.

[journeyrock]

According to Herbie that;s what happened.
The band paid Ross and Smitty as well as Baird and Jaxon.

Suppose it kept them happy, Ross and Smith probably would have been able to sue for loss of income if they didnt pay them for the tour.

and it's probably where Perry got the idea from in '98

[Don]

Herbie said Ross made some bad investments (I think Cain too) in the early-mid 80s.

Ross is more than likely swimming in loot again and Cain too, ESPECIALLY with all the writing credits.

Neal's got Nocturne AND Journey so he is literally printing money.

As long as the federal government mandates royalty rates, Schon, Perry, and Cain will never be in want of a paycheck.

[Red13JoePa]

Herbie said Ross made some bad investments (I think Cain too) in the early-mid 80s.

Ross is more than likely swimming in loot again and Cain too, ESPECIALLY with all the writing credits.

Neal's got Nocturne AND Journey so he is literally printing money.

As long as the federal government mandates royalty rates, Schon, Perry, and Cain will never be in want of a paycheck.

I'd LOVE to know the specifics of how it works, too. Jeremey could probly shed some light on what triggers a royalty payment how it's split out if 2-3 cowriters are involved. Also how does it work for the rest of the band who didn't cowrite Like Faithfully's obviously a Cain solo credit but don't ALL the members from 83 still get royalties from it, just Jon gets way more???

[jrnyman28]

There are performance royalties and there are songwriting royalties. A song like Faithfully would earn all members of the band money when used in commercials or movies for example. But Jon gets additional royalties for radio play...

I think.

[Don]

I know there are different catagories, and some are paid straight up front. If you cover a song, you have to send a form to the songwriter and publisher along with the initial payment of royalties based on the number of copies of discs you are intially selling. Jeremey said Perry probably got a check for 175K for Revelation. If they did an initial run of one million discs, divide that by the number of songs on the disc cowritten by Perry and divide again by the number of cowriters per song and you'll get an idea of what the rate is. The original songs are under another formula as when they are used for different things, The publisher get's paid and gives the artist/songwriter what ever amount they intially agreed upon in their contract (50%, 75%, etc.). It's confusing, as hell and no one really understands the formula ASCAP and BMI use to determine radio air play, juke box and venue usage and such. It's a sampling system but it's reliabilty is very questionable.
Even charity events have to pay usage fees if they charge for tickets, so not to many get to use the music for free.
Non songwriters are paid performance fees and that changes if they are not band members, or if they are session artists. Deen and Ross were treated as band members during Revelation so they got paid one rate, while I believe Arnel was more like a session player so he got paid differently. Neal says that Arnel is now a full fledged member of the band so the next album should see him getting piad equally, like Castranova and Valory. Their big slice of the pie comes from touring, which is at the discretion of the band leader and their own personal contracts with him I believe. Azoff, gets paid, the support acts get paid, the crew gets paid, and the last bit is delled out to the band members according to their contracts with Neal I would guess.

I would also assume that Fleischman and Diane Valory still get something from WITS but as some artists/songwriters can give up the rights for a one time buyout, I don't know.