Word: majors
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...Eisenberg is chairman and major shareholder, is based in Asia House, an elegant office block he built in central Tel Aviv. The corporation has an annual turnover of more than $2.5 billion. United Development does not release such figures but has roughly the same revenues. One of Eisenberg's trade secrets, his associates say, is his extraordinary mind. ''The guy was never in a school of business or anything like that,'' says one ex-staff member. ''He did everything himself. He's exceptionally clever and has an amazing memory.'' Eisenberg speaks fluent German, Japanese, Yiddish and European-inflected English. Eisenberg...
...alternative movement was dependent on the entrepreneurship of dozens of independent record labels, or indies, that sprang up during the 1980s as major labels focused more on such superstars as Bruce Springsteen and Madonna...
...capture the musical moment, market it and move on to the next moment. Sub Pop co-founders Jonathan Poneman and Bruce Pavitt envisioned their small record company as a kind of Motown of the Pacific Northwest. "The problem with the music industry in the '80s was that the major labels had their doors shut to new ideas," says Pavitt, who used to work for Muzak, the elevator-music company...
...proprietors had keen ears. They produced some of the first recordings by a whole string of bands that went on to national success: Nirvana, Smashing Pumpkins, Soundgarden and Alice in Chains. As soon as the bands became widely heard, however, they jumped to major labels. After Sub Pop's most promising band, Nirvana, left the company and released the huge hit Nevermind (more than 4 million copies sold) on the Geffen label, other major labels began an indie-band feeding frenzy. Bands that had been playing in taverns were being offered $300,000 contracts. Many of these groups were founded...
Vedder followed the tape to Seattle, where guitarist Mike McCready and drummer Dave Krusen rounded out the new band's lineup (Krusen was later replaced by Dave Abbruzzese). The group landed a deal with a major label, Sony's Epic, but when its first album came out in 1991, the musicians found themselves in the midst of the hype storm about Seattle bands. Nirvana exploded into prominence first, with its anthemic Smells Like Teen Spirit. When Pearl Jam drew attention as the Next Big Seattle Sound, Nirvana's Cobain seemed to bristle at sharing the limelight, dismissing Pearl...