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Fact #171454

When:

Short story:

Detroit-based band The Stooges is signed to Elektra Records by A+R man Danny Fields for an advance of $5,000. The band's vocalist will go on to find greater fame as Iggy Pop.

Full article:

Jac Holzman (founder of Elektra Records) : Danny Fields said, 'This is important.' My art director, Bill Harvey, said, 'Are you crazy?' But I said, 'I trust Danny. Besides, it's only $5,000. How hurt can we get? Let's just do it.' So we did it.

Working with them was terrible. They were so strung out on heroin that we couldn't get the record done. Everybody said, 'Look what you got yourself into.' But we did the two albums. It was like getting talked into buying a piece of art that you didn't really want, but then finding out how important it was.
(Source : interview with Richard Williams in The Guardian, November 24, 2006)