Former GUNS N' ROSES Bassist Tries New Tune As Businessman

July 3, 2007

Dean Goodman of Reuters reports that former GUNS N' ROSES/current VELVET REVOLVER bass player Duff McKagan doubles as a savvy investor, overseeing a diverse portfolio ranging from property and stocks to vintage guitars.

While he draws the line at donning a suit and tie, McKagan also runs the business affairs for VELVET REVOLVER, which just released its second album, "Libertad".

"I do everything I can do so this band doesn't get ripped off," said McKagan, who subscribes to the online edition of The Wall Street Journal, and constantly checks his BlackBerry for the latest financial headlines.

"We're the last ones to get paid. We work pretty hard for the money we make."

With the recorded-music business in a tailspin, due largely to Internet piracy, bands have to be financially creative, McKagan said in a recent interview.

VELVET REVOLVER's first release, "Contraband", debuted at No. 1 in the United States and sold 3 million copies worldwide. That is equivalent to 10 million copies in the late '80s, when GUNS N' ROSES burst on the scene, he estimated.

Read the entire article at Reuters.co.uk.

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