The AV Club via Blurt:
…According to Midgett, the studio—owned by Steve Albini (audio engineer and founding member of Shellac and Big Black)—isn’t in danger of closing, but it does have an outstanding balance of $230,000 left on its mortgage and a tendency to charge under-market rates to bands looking to record there. As Midgett wrote on the donation page, “I think the place should be paid off by now, and I think we have the ability to do it.”
Thus: the “Pay Off Electrical Audio” campaign, probably to the endless embarrassment of the oft-surly Albini…
The Pay Off Electrical Audio Campaign:
So many great records, made at this studio, for so little money.
So many friendships and romances, forged on the pages of the Electrical Audio forums (which are FREE to use).
Let’s see how close we can get to paying off the remaining balance of the studio’s mortgage.
I know this campaign will be an embarrassment to owner Steve Albini, but it will be an embarrassment to the rest of us if it fails. Sort of. I don’t know, I just want to see if it will work.
2000 people, $115 each, and it’s done.
If you can’t pledge that much, no problem, no minimum.
If you can double up, hell, you’ll get two thank-you letters.
Remember: your pledge is only taken if the goal is MET. So it’s not like you’re throwin’ money down a hole…
Greg Norman (supposedly at least), Electrical Audio Employee, taken from the Pay Off Electrical Audio Campaign comments section:
I want to make this clear to anyone thinking of pledging money to this campaign.
We are doing fine financially. There is no threat of us missing payments, or any other money calamity.
We would feel awful if someone pledged money for charitable reasons.
Tim started this, it appears as a collective gift, and that is an awfully generous gesture.
None of us at Electrical Audio knew about this until the campaign launched, and have nothing to do with this.
I just want to make sure everyone’s clear on what they are pledging to.
Other than that,
Thanks for all the nice things everyone is saying. It is heart warming to hear from all of you!