that hey, you know, we put the money up front for these artists to come and do this bjork. in a lot of cases used our facilities. we paid for the marketing. we paid for advertising. we own it and it is ours and they were working for us? no, nope. carefully, rick the sound you hear in the distance is the cowbell because the grim reaper is coming and coming for these guys. doug byrnes made the best argument that the music company and record labels can possibly make. they ought to hire them but at end of the day it ain t going anywhere. guys like bruce springsteen with serious musicians with serious clout are entitled to terminate their rights under the copyright act. fact. matter is is not work for hire. i can mention artist after artist. toby keith. showed up with eight songs, four of which became number one records long before he worked for record company. production gets charged against royalties going forward. so, those taxes that, those
attention. doug, these artists, they wrote the songs. they performed the songs. right. rick: everybody loves the songs love them because of the artist. why shouldn t they be able to get the copyrights? rick, it is actually a tricky legal question. what it boils down whether or not they were employ of the record company. term of art, as tread will concur is work for hire. if the artist was hired by the record company, of course the record company can claim that it is theirs. fred will make argument, i can read his mind, of course they weren t hired. taxes weren t taken out. insurance wasn t taken out and didn t work under their roof. however, my argument is the record companies however pay the cost of production. they pay the cost of promotion. rick: yep. and also the other point is that many, many contracts themselves specifically say that it is a work of hire. courts will have to sort it out song by song basis based on the particular contract. rick: fred, that s the argument that
search for gardner was still going on saying he wanted to begin redeeming that policy. giordano is being held in aruba as a suspect in her disappearance. the judge said there is evidence to hold him 16 more days. his attorney says there is no evidence that he committed a crime. gardner meanwhile is presumed dead. jenna: thank you, patti ann. rick: a battle more than 30 years in the making that could rock the music industry to is core. some of the most iconic rock and pop songs are about to turn 35 years old, rocksian by the police and heart of glass by blondie. when they do a provision in the u.s. copyright law regarding music could make the songs property of the artists who wrote them instead of the record companies who have been profiting off of them for years. we have former federal prosecutor and intellectual property attorney, doug byrnes is a defense attorney. thanks forring in to talk about this. as a music fan this got my
running higher in july, half a percentage point higher than in june which makes us worry about inflation. understand that in june, prices fell from may and so in june, we were worried about deflation, right? so that s the point, is right now, we are worried about anything and everything. u.s. debt and decifit, a rerun of the great recession, european default risk, a china slowdown, these are really long term problems. they don t have to create this panic rippling through the markets today, but they have, and as a bond broker told me moments ago, can we all just please calm down? and remember, rick, that the old saying, markets climb walls of worry, and someone is making money today. gold is up $32 an ounce, last time i checked, 1826, the vix, the shall peer index that goes up when volatility breaks out, it s up 30 percent today to $40 a share, and the 10-year treasury notes are down below 2 percent, and that means that the yields go even lower to 1.6%, sometime in the next ye
problems. they don t have to create this panic rippling through the markets today, but they have, and as a bond broker told me moments ago, can we all just please calm down? and remember, rick, that the old saying, markets climb walls of worry, and someone is making money today. gold is up $32 an ounce, last time i checked, 1826, the vix, the shall peer index that goes up when volatility breaks out, it s up 30 percent today to $40 a share, and the 10-year treasury notes are down below 2 percent, and that means that the yields go even lower to 1.6%, sometime in the next year, one guy told me it means you ve got a 4 percent gain on this thing while it s paying interest until year-end so even thoughs fear runs rampant on the market, down 444, some people are making money on that very thing. rick: always. always. last week we saw a big drop that was followed by big gains. could this be a repeat of the up and down stuff? the great thing about last week is we did not see big inst