Publication: New York Daily News [US]
Date: September 15, 1996
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Title: "Purple Pain Poured Money Down The Drain"
Written By: Michael O'Regan

Prince has also had his share of serious financial trouble. According to published reports. His huge business empire was in chaos, when creditors claimed they were owed hundreads of thousands of dollars.

Top executives quit his Paisley park studios in Minneapolis, and insiders said it was being run by the handyman who used to mow his lawn.

The pop star’s money problems sstemmed from doing business Prince-style.

His former manager, Steve Fargoli said: "Where other guys go out and buy cars or jets, this kiid’s not interested. He’s interested in things that satisfy his creative urge."

Fired employees last yer told the St. Paul Pioneer Press in Minnesota that the Purple Pain pured huge sums of money into disastrous business projects. He threw bundles of cash into an erotic stage version of the Greek epic "Ulysses," and ordered extravagant stage sets for tours that never got off the ground.

Meanwhile, his $2 million-plus chain of "Glam-Slam" nightclubs in Miami, Los Angeles and Minneapolis were struggling to keep their doors open amidst bitter bustups with ex-business partners.

The 36-year-old rocker, famed for his blatant sexual stage antics, became increasingly estranged from the music business and isolated from his fans.

An ex-employee told the Pioneer Press: "Prince lives in isolation, surrounded by a group of functionaries, gofers and yes-men who carry fancy but often meaningless titles such as manager and vice president.

"He may call at 3 a.m. asking that the wardrobe department make an outfit, and if they want to keep their job, they head to the office and execute the boss’ orders.

"Prince is a manic genius with no regard for financial reality, who, as his stature has grown, has increasingly stopped listening tot he people who were once able to keep things in check."

One local Minneapolis-based film company, Point of View, which produced nearly 50 rock videos for Prince, was forced into bankruptcy when he failed to pay them $500,000.

The owner, Rob Borm, told the paper how he was hired by Prince to make his "Gett Off" video with a budget of over $150,000, only to watch as the singer racked up fees of over $41 million re-creating the fall of Rome with scantily clad girls hired from a strip club.

When he confronted Prince before a concert in London, Borm said the pop str snapped: "You should know better than to talk to me before a gig."

Furious, Borm called his crew off Prince’s British tour. For the next 10 months, he fought to get his money, but the company collapsed before he had any hope of collecting.