KEEP OUR LEVERAGE STRONG
The AFM is supporting legislation that would provide tax credits for U.S. record labels, film studios and other manufacturers who keep their work in this country. In the past two decades, the AFM has faced the dilemma of producers who go to other countries to make recordings, where musicians are often poorly paid. The legislation is S. 1637 and H.R. 1769 (co-introduced by Rep. Charles Rangel). The Senate bill could be passed first; some 44 senators signed a letter supporting this legislation. For more information, check out www.afm.org.
RECORD SALES STILL FALLING
Global sales of recorded music fell by 10.9 percent in value in the first half of 2003, reported Billboard. But record sales in Australia and Europe were stronger than in North America. One conclusion reached in the report is that since the United States has more high-speed Internet access, more pirating exists here and therefore less records are sold than in Australia and Europe.
CREDIT UNION BUILDING HOUSES
The credit union is building 18 two-bedroom co-op apartments in Yonkers for exclusive sale to credit union MEMBERS. The apartments are about 30 minutes from Grand Central Station on Amtrak’s Metro North. The estimated cost for each unit will be about $140,000. Updates and details on the project can be found in the AFCU’s quarterly newsletter and on its Web site at www.actorsfcu.com.