Steve Albini Headed for a Bailout?

 

 

Famed Electrical Audio
studios getting a loving helping hand from Tim Midgett and other fans of the
man and the establishment.

 

By Fred Mills

 

The economy sucks, don’t it? The Bush-era tendrils of failed
capitalism continue to reach out and entangle the good citizens of the USA. The latest
troubled asset: producer/rocker Steve Albini’s Electrical Audio studios in Chicago, which is
reportedly $230,000 in debt, mortgage-wise. But since Congress isn’t very
likely to step in anytime soon on this one, no less a knight in white than Tim
Midgett (Silkworm/Bottomless Pit) has decided to do something about it.

 

According to a story posted yesterday at the AV Club, the
studio probably will not close but he hopes his “Pay Off Electrical Audio”
campaign, in which fans are solicited to donate, Kickstarter/IndieGoGo style,
and raise funds sufficient to ensure that the studio is never in danger of closing. In the article, Midgett speculates that
Albini’s “tendency to charge under-market rates to bands looking to record
there” may have played a part in the current financial crunch, but that “I
think the place should be paid off by now, and I think we have the ability to
do it.”

 

As of this writing about $35k, or 15% of the total $230,000,
has been pledged, and folks will not have their credit cards billed unless the
full amount is reached. You can pledge at the “Pay off Electrical Audio” page.

 

Incidentally, at that page, Greg Norman of Electrical Audio
posted a message indicating that the studio was not directly involved in the
campaign (nor is the studio in any immediate financial peril, he hastens to
add), but that they are very grateful for Midgett’s gesture.

 

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