50 of the richest celebrities in the world
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Paul was very lucky to have the wisdom of his father-in-law, Lee Eastman, who helped him create an organization that could support his own musical interests and investments, etc. That really helped him and Linda and their family to continue to maintain a comfortable lifestyle for their family and to protect his own musical compositions created after the Beatles.
Aside from that, Paul was very wise to listen to his intuition about Allan Klein, and received good legal advice from Linda's father in that matter as well. Even though it was a time of terrible agony for him, to think of suing his fellow bandmates, I feel the Beatles organization would have been more severely damaged by money being lost if Paul wouldn't have taken some kind of action. The situation would have been much more difficult to straighten out, and could have ended much worse. (Thinking of the tragic financial mess the group Badfinger encountered under their corrupt managers, who weren't a part of Apple or The Beatles. Unfortunately because of the Beatles legal mess, their money and assets were frozen, and George Harrison couldn't help them.)
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Did you mean to say George Martin?
At least later, John admitted Paul was right about “Ron Decline.”
Both Harrison and John Lennon soon became disenchanted with Klein.[103] By mid 1972, Harrison was appalled at the outcome of Klein's handling of the Bangladesh relief effort.[104] Aside from the question of its charity status, unwelcome attention had been drawn to the project after an article published in New York magazine accused Klein of pocketing $1.14 on each copy of the live album (priced at $10)[105][106]—allegations that raised suspicions among the three former Beatles with regard to his conduct in their business affairs.[107]Lennon also felt betrayed by Klein's lack of support for his and Yoko Ono's increasingly politically focused work, which was typified by the couple's 1972 album Some Time in New York City.[108][nb 1] In early 1973 Lennon, Harrison and Starr served notice that they would not be renewing Klein's management contract when it expired in March.[111] Early the following month, Lennon told an interviewer: "Let's say possibly Paul's suspicions were right … and the timing was right."[112]
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Nancy R wrote:
Did you mean to say George Martin?
At least later, John admitted Paul was right about “Ron Decline.”
Both Harrison and John Lennon soon became disenchanted with Klein.[103] By mid 1972, Harrison was appalled at the outcome of Klein's handling of the Bangladesh relief effort.[104] Aside from the question of its charity status, unwelcome attention had been drawn to the project after an article published in New York magazine accused Klein of pocketing $1.14 on each copy of the live album (priced at $10)[105][106]—allegations that raised suspicions among the three former Beatles with regard to his conduct in their business affairs.[107]Lennon also felt betrayed by Klein's lack of support for his and Yoko Ono's increasingly politically focused work, which was typified by the couple's 1972 album Some Time in New York City.[108][nb 1] In early 1973 Lennon, Harrison and Starr served notice that they would not be renewing Klein's management contract when it expired in March.[111] Early the following month, Lennon told an interviewer: "Let's say possibly Paul's suspicions were right … and the timing was right."[112]
No, meant George Harrison. There was a documentary about the tragic history of Badfinger and how their manager screwed them, which is on YouTube
7:42 "The Iveys" sent a demo record to The Beatles and Paul McCartney liked them and got them a contract with Apple. They were the first band the Beatles signed on to Apple. The Iveys them changed their name to Badfinger, after the Beatles song Badfinger Boogie. Paul gave them his song "Come and Get it" which was their first top single.
15:27 After their hit single, "Without You," George Harrison took an interest in Badfinger and produced their song "Day after Day," and played guitar on the song. He chose them as a backing band for his Concert for Bangladesh.
17:47 The band's business manager Bill Collins put the band in the hands of an American manager Stan Polley (spelling?). Polley had them leave Apple and go to Warner Records. Pete Ham of Badfinger didn't like the idea of leaving Apple because everyone there had been good to him, but trusted his managers. (According to Badfinger's Wikipedia page, the band left Apple for Warner Bros after the Beatles legal troubles with Apple.)
22:00 Badfinger's cash and manager Polley disappeared, and Polley never returned the band's phone calls. Warner Bros sued them for the return of their 6 million dollars, since the manager never had the band make any albums, which was a breach of their contract. The band was shut down until the matter was settled. Bandmembers Pete Ham and Tommy Evans eventually committed suicide.
I heard somewhere (other than this documentary) that because of the legal troubles The Beatles were in, they were unable to help Badfinger because all of their financial assets were frozen. Paul and George especially wished they could give them personal loans, but since their financial assets were frozen, until the settlelment of the Beatles legal issues, their hands were tied.
Anyway, it's a good thing Paul followed his intuition and didn't trust Klein, and made the best decision he could at the time. The other Beatles eventually realized he was right.
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^ Sorry, I didn’t read it carefully enough. For some reason I thought you’d segued into talking about the Beatles. I know all the sad history of Badfinger. I have all their albums (on vinyl!) They were such a great band!
