Hand in mouth

10 December 2007 By Simon Nixon

The private equity boss has issued a grovelling apology to EMI s music stars just two weeks after having to say sorry to its bankers. Shooting your mouth off is all very rock and roll, but it s not so cool when your struggling business needs all the help it can get.

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Guy Hands has written to EMI artists to reassure them they remain at the epicentre of his plans to turn around the struggling music company. The letter was prompted by reports he wanted to axe acts who did not work hard enough.

In an earlier letter to EMI executives, Hands had written: While many [artists] spend huge amounts of time working with their label to promote, perfect and endorse their music, some unfortunately simply focus on negotiating for the maximum advance – advances which are often never repaid.

Last month, Hands was forced to apologise to investment bankers after likening them to whimpering dogs. In a speech, he had said that bankers were happy in a pack and liked to smell easy prey and push each other out of the way for food… But, like any loyal dogs, when they get hit, they whimper.

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