snooze72 Posted November 4, 2006 Share Posted November 4, 2006 (edited) Sanctuary co-founder walks taking rock icons with himBy Harry Wallop Last Updated: 11:39pm GMT 03/11/2006Sanctuary, the troubled music group which manages James Blunt and Elton John, has suffered another setback, with two of its most senior executives quitting the group, threatening an exodus of artists. Rod Smallwood, one of Sanctuary's co-founders, announced his departure yesterday, taking with him the company's oldest client: Iron Maiden.Pomp and circumstance: Sanctuary is to lose its oldest client, heavy metal band Iron Maiden His departure comes just three days after Merck Mercuriadis, Sanctuary's highest-paid employee, left the company. The company had kept his departure quiet because he was not a director. There are fears that two of his acts - Axl Rose and Morrisey - will follow him out of the door.The company has had a terrible year, with a plummeting share price and the discovery of "fundamental errors" in its accounts. It is understood that Mr Smallwood is quitting to join fellow founder Andy Taylor, who was ousted from the group in May.Iron Maiden, the heavy metal band, were discovered in a London pub by Mr Taylor in 1979, but had always been managed by Mr Smallwood. In the song "Sheriff of Huddersfield", Iron Maiden likened Mr Smallwood to the miserly Sheriff of Nottingham.Mr Smallwood was a director until March and was paid £491,000 last year. Mr Mercuriadis took home £1.24m. It is understood neither will be receiving a severance package.Sanctuary was insistent yesterday that their departures will have no substantial impact on its accounts. The shares, which were 434p at the start of the year, closed down 1 to 13p. Edited November 4, 2006 by snooze72 Link to comment Share on other sites More sharing options...
shootingstar Posted November 4, 2006 Share Posted November 4, 2006 Sanctuary co-founder walks taking rock icons with himBy Harry Wallop Last Updated: 11:39pm GMT 03/11/2006Sanctuary, the troubled music group which manages James Blunt and Elton John, has suffered another setback, with two of its most senior executives quitting the group, threatening an exodus of artists. Rod Smallwood, one of Sanctuary's co-founders, announced his departure yesterday, taking with him the company's oldest client: Iron Maiden.Pomp and circumstance: Sanctuary is to lose its oldest client, heavy metal band Iron Maiden His departure comes just three days after Merck Mercuriadis, Sanctuary's highest-paid employee, left the company. The company had kept his departure quiet because he was not a director. There are fears that two of his acts - Axl Rose and Morrisey - will follow him out of the door.The company has had a terrible year, with a plummeting share price and the discovery of "fundamental errors" in its accounts. It is understood that Mr Smallwood is quitting to join fellow founder Andy Taylor, who was ousted from the group in May.Iron Maiden, the heavy metal band, were discovered in a London pub by Mr Taylor in 1979, but had always been managed by Mr Smallwood. In the song "Sheriff of Huddersfield", Iron Maiden likened Mr Smallwood to the miserly Sheriff of Nottingham.Mr Smallwood was a director until March and was paid £491,000 last year. Mr Mercuriadis took home £1.24m. It is understood neither will be receiving a severance package.Sanctuary was insistent yesterday that their departures will have no substantial impact on its accounts. The shares, which were 434p at the start of the year, closed down 1 to 13p. Link to comment Share on other sites More sharing options...
jah772 Posted November 4, 2006 Share Posted November 4, 2006 It's disheartening to see that they say that "Axl Rose" is one of his acts, and not "Guns N' Roses" Link to comment Share on other sites More sharing options...
cold_as_ice Posted November 4, 2006 Share Posted November 4, 2006 Merck is over-paid! Link to comment Share on other sites More sharing options...
mr.b Posted November 4, 2006 Share Posted November 4, 2006 Jesus thats a massive drop in share price. I take it that they are going into the blender soon. Also if Axl(and not GNR?) leaves it can only delay the album... It's disheartening to see that they say that "Axl Rose" is one of his acts, and not "Guns N' Roses"You beat me to it... Link to comment Share on other sites More sharing options...
EverythingWasRoses Posted November 4, 2006 Share Posted November 4, 2006 B)-->QUOTE(mr.b @ Nov 3 2006, 05:41 PM) <{POST_SNAPBACK}>Jesus thats a massive drop in share price. I take it that they are going into the blender soon. Also if Axl(and not GNR?) leaves it can only delay the album... , we don't need more delays, I hope this doesn't mean anything bigB)-->QUOTE(mr.b @ Nov 3 2006, 05:41 PM) <{POST_SNAPBACK}>It's disheartening to see that they say that "Axl Rose" is one of his acts, and not "Guns N' Roses"You beat me to it...me too Link to comment Share on other sites More sharing options...
JeanGenie Posted November 4, 2006 Share Posted November 4, 2006 It's disheartening to see that they say that "Axl Rose" is one of his acts, and not "Guns N' Roses"quite accurate thou. Link to comment Share on other sites More sharing options...
busngabb Posted November 4, 2006 Share Posted November 4, 2006 $1.24m to push Axl onto a coach once every four years.Elton John must be high maintenance for that amount of work to be done. Link to comment Share on other sites More sharing options...
Rebel Yell Posted November 4, 2006 Share Posted November 4, 2006 Mr Mercuriadis took home £1.24m. How much is that in Americaland dollars? Link to comment Share on other sites More sharing options...
Takeshi Posted November 4, 2006 Share Posted November 4, 2006 B)-->QUOTE(mr.b @ Nov 3 2006, 07:41 PM) <{POST_SNAPBACK}>Jesus thats a massive drop in share price. I take it that they are going into the blender soon. Also if Axl(and not GNR?) leaves it can only delay the album... I'm not sure how it would have any effect on the release date for the album. Sanctuary are their management company, not the record company. Link to comment Share on other sites More sharing options...
mr.b Posted November 4, 2006 Share Posted November 4, 2006 B)--><div class='quotetop'>QUOTE(mr.b @ Nov 3 2006, 07:41 PM) <{POST_SNAPBACK}></div><div class='quotemain'><!--quotec-->Jesus thats a massive drop in share price. I take it that they are going into the blender soon. Also if Axl(and not GNR?) leaves it can only delay the album... I'm not sure how it would have any effect on the release date for the album. Sanctuary are their management company, not the record company.Still theres the whole playing with paperwork, which is never fast. I suppose your right, well hope more then anything. Besides they would hardly do anything to delay it at this point, or would they... Link to comment Share on other sites More sharing options...
EverythingWasRoses Posted November 4, 2006 Share Posted November 4, 2006 Mr Mercuriadis took home £1.24m. How much is that in Americaland dollars? xe.com Universal Currency Converter ® ResultsLive mid-market rates as of 2006.11.04 02:14:28 UTC.1,240,000.00 GBP = 2,356,988.76 USD Link to comment Share on other sites More sharing options...
Rebel Yell Posted November 4, 2006 Share Posted November 4, 2006 Mr Mercuriadis took home £1.24m. How much is that in Americaland dollars? xe.com Universal Currency Converter ® ResultsLive mid-market rates as of 2006.11.04 02:14:28 UTC.1,240,000.00 GBP = 2,356,988.76 USD2.3 million dollars?! WHY? What the hell makes him worth that? Jesus Christ. Link to comment Share on other sites More sharing options...
illusions Posted November 4, 2006 Share Posted November 4, 2006 Its funny how they said axl rose and not guns n roses. Link to comment Share on other sites More sharing options...
Almost Famous Posted November 4, 2006 Share Posted November 4, 2006 I don't think Merck manages the whole band, I think just Axl. Not sure though. Link to comment Share on other sites More sharing options...
Allen8R Posted November 4, 2006 Share Posted November 4, 2006 It's disheartening to see that they say that "Axl Rose" is one of his acts, and not "Guns N' Roses"The painful reality is that is's unerstandable. All in all, nobody cares for he rest on GNR's ever changing lineup. As much as I love the new bad in exception to Robin, they are just hired men playing mostly someone elses songs. Thats the way it will be until Chinese Democracy drops...and maybe even after that to a certain degree.A8R Link to comment Share on other sites More sharing options...
zakk Posted November 4, 2006 Share Posted November 4, 2006 Big fucking deal. The only way the record doesn't drop is if Axl says so. Link to comment Share on other sites More sharing options...
The Pretenders Posted November 4, 2006 Share Posted November 4, 2006 I don't think Merck manages the whole band, I think just Axl. Not sure though.Axl is probably Guns N' Roses in the accounting office. The rest are paid musicians. Link to comment Share on other sites More sharing options...
zakk Posted November 4, 2006 Share Posted November 4, 2006 Axl these days is all about the scene. He loves being in the limelight and will do nothing to change that. Link to comment Share on other sites More sharing options...
dobadog Posted November 4, 2006 Share Posted November 4, 2006 Sanctuary sound like they are on hardtimes.If Merck has left Sanctuary then where does that leave HTDGTH (here today gone to hell) as there were reports that Merck owned Jarmo's ass and HTDGTH was being run on the Sanctuary servers. Link to comment Share on other sites More sharing options...
The Sandman Posted November 4, 2006 Share Posted November 4, 2006 I don't think Merck manages the whole band, I think just Axl. Not sure though.Yeah, and Axl owns Guns N' Roses - and I guess he could get Merck to do that privately. Link to comment Share on other sites More sharing options...
ssiscool Posted November 4, 2006 Share Posted November 4, 2006 Merck is over-paid! totally. this can't be good could it Link to comment Share on other sites More sharing options...
Midnight Gunner2 Posted November 4, 2006 Share Posted November 4, 2006 Sanctuary is gonna go down, that's easy to see. They can say 'this and that' all they want, but it's obvious.Merck is def. over paid. Link to comment Share on other sites More sharing options...
frankwhite Posted November 4, 2006 Share Posted November 4, 2006 overpaid? please, if he's the cofounder n thats all he's gettin i'd say he's gettin the shit end of the stick. Link to comment Share on other sites More sharing options...
Takeshi Posted November 4, 2006 Share Posted November 4, 2006 Sanctuary sound like they are on hardtimes.If Merck has left Sanctuary then where does that leave HTDGTH (here today gone to hell) as there were reports that Merck owned Jarmo's ass and HTDGTH was being run on the Sanctuary servers.With any luck, he'll be out of business. Link to comment Share on other sites More sharing options...
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