On May 1, 1984, Mick Fleetwood, the drummer of "Fleetwood Mac" fame, filed for bankruptcy. How could that have happened? After the huge success of the band's self-titled album in 1975, and of its follow-up Rumors, in 1977? Rumors remains one of the 20 best selling albums of all time. And the drummer filed for bankruptcy court protection seven years later?
Well ... how could one of the famed "Big Three" of Detroit, automaker Chrysler, have been brought to the point of filing for bankruptcy, as happened yesterday? How could General Motors be teetering on that brink? Fame is fleeting, and wealth is more so.
There's the off-the-moment spending to which rock stars feel entitled, of course. Not just entitled ... obligated. There's an entourage to maintain. There were, in Fleetwood's case, impulsive purchases of both real estate and restaurants to disastrous effect.
As for Chrysler and GM, you'll be reading much about them in the days to come.
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