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which VU members have the cash?

Posted: 25 Aug 2007 12:28
by embryos
hi there. something Ive always wondered, is the financial status of the surviving members of VU. I assume Reed is well off, but I wonder about Cale and Tucker. Cale probably does good from his busy touring schedule, no? Does anybody know who receives royalties from VU album sales? I know they went to court about it in the 90s, ( the band vs Reed) but I wonder how that all played out. I really hope the band is making the majority of the royalties, and not some fucken douchebag record execs!

Posted: 25 Aug 2007 14:21
by Pernod time
no idea, but John Cale still works very hard for someone in their mid 60,s so maybe he,s not so well off.

Posted: 26 Aug 2007 07:28
by Changeling
Pernod time wrote:no idea, but John Cale still works very hard for someone in their mid 60,s so maybe he,s not so well off.
Judging by the size of his shows , I'd say he doesn't make nearly enough.
He shows are the greatest.

Saw Lou's apartment in a magazine once. I'd say he is well off.I would think he could live on the radio royalities of WOTWS alone.

moe was working at walmart at one point, so not so well off.

Posted: 28 Aug 2007 18:41
by bleach
I've always felt sorry for Moes position..she regularly sells an assortment of goods (non VU) on Ebay.

Posted: 29 Aug 2007 06:32
by embryos
bleach wrote:I've always felt sorry for Moes position..she regularly sells an assortment of goods (non VU) on Ebay.





No way!!! i would totally buy stuff from her! do you have any links, or where do i find this?
I do remember feeling kinda bad, reading on moes official website, that she would sell you a cassette of her music for $8, or sell it to you for $6 if you sent her the cassete, then she would dub it for you.. talk about hands on!
I remember seeing an interview with moe where she said she was able to pay off her housing mortgage with her royalties from the VU reunion.... I hope she is doing well.....

Doesnt anybody think that John has to be making some money of his production credits of of albums like Patti Smiths "horses", or the stooges?
I mean i know those albums arent platinum sellers, but they have sold well enough to be re-released over and over. Shit they even re-released Marble index and desert shore, which of course John produced. Anyway, I hope johns making some cash from that!

Posted: 29 Aug 2007 19:57
by sars
it's not uncommon for retired people to have ebay buisnesses. they can make hundreds or even thousands in a month and don't have to pay taxes on that income. And I don't understand the surprise that Moe isn't super wealthy. She's been a housewife/working in the private sector for the majority of her life. In terms of her music career, the Velvet's sales have been consistent but not astronomical, and her solo stuff/collaborations are very, very indie. (Daniel Johnston, Half Japanese, etc. etc.) Not exactly the stuff of big money. she also comes from a generation where working women had the choice of being teachers, nurses, secretaries or nothing.

a lot of bands from the 60's/70's have made bank by reuniting every summer and merchandizing themselves to the gills, neither of which the Velvet Underground does and I think they're ultimately more respectable for it, albeit not rich. Lou's had a strong solo career to live off of, and John's probably done pretty well from performing and producing over the years, but Moe/Sterling/Doug had families and "real" jobs and most likely completely different lifestyles and goals than Reed and Cale had, which isn't a bad thing. Not lucrative, but not bad.

And didn't everyone sue Lou in the 80's for withholding royalties owed to the rest of the group?

Posted: 30 Aug 2007 01:30
by MJG196
sars wrote:it's not uncommon for retired people to have ebay buisnesses. they can make hundreds or even thousands in a month and don't have to pay taxes on that income.
Woh, dude. Not to sidetrack the thread, but you DO have to pay taxes on eBay income! They are lenient when it comes to the occasional sale, but people who sell an excess of a few hundred dollars per year MUST report it to the IRS.

For exact info, here is the link: http://www.irs.gov/businesses/small/ind ... 22,00.html

Posted: 30 Aug 2007 06:28
by sars
mg196 wrote:
sars wrote:it's not uncommon for retired people to have ebay buisnesses. they can make hundreds or even thousands in a month and don't have to pay taxes on that income.
Woh, dude. Not to sidetrack the thread, but you DO have to pay taxes on eBay income! They are lenient when it comes to the occasional sale, but people who sell an excess of a few hundred dollars per year MUST report it to the IRS.

For exact info, here is the link: http://www.irs.gov/businesses/small/ind ... 22,00.html
haha, oh man. half of my parents' friends are headed for the big house via tax evasion, it looks like.

I know one man in particular who scavengers second hand stores like the Salvation Army and sells the things he finds, and makes 5 figures doing it. He always said he doesn't have to pay taxes on it. that link you posted says that "garage sales" of used items are exempt, I wonder if he sneaks by because his items are used. All I know is that dude makes as much as I do in a year, I work full time and he's retired.

Posted: 30 Aug 2007 19:09
by bleach
Perhaps we should turn this site into a tax discussion forum! :D

Posted: 30 Aug 2007 21:50
by embryos
sars wrote: And I don't understand the surprise that Moe isn't super wealthy. She's been a housewife/working in the private sector for the majority of her life.
yeah, i dont think anyone said they were surprised moe aint superwealthy, and obviously, she has been a "regular person" for some time. I have always just wondered if VU royalties are significant, for her and the rest of the band, and if not, I wonder who is getting them. Im surprised "mg169" hasnt had anything to say about this topic, he usually deconstructs your comments, quote by quote, telling you where your wrong. Common dude, tell us what you know, we dont care about E-bay shit!!!!