Jam tomorrow. That often seems to be the investment case for THG (LSE: THG). The THG share price is now 40% lower than a year ago. And it was not exactly flying high then – in fact, since its stock market listing in 2020, the THG share price has lost a cataclysmic 95%.
Can that be rational?
After all, there is a lot to like about the business – so much, in fact, that several sophisticated financial companies have tried to buy the whole business in recent years at a far higher valuation than it currently commands on the stock market.
So, should I buy the share for my portfolio now, hoping that it could rebound in a big way in the coming year (and beyond)?
Here’s what dogging THG
The issue, as I see it, boils down to whether or not THG has the potential to be a profitable business over the long term.
So far, the numbers are not promising. While it has been doing over a couple of billion pounds a year in sales, THG’s bottom line looks horrendous.
Last year it lost £248m after tax, following a post-tax loss of over half a billion pounds the prior year. The consistently loss-making business has spilt a lot of red ink in its few years on the stock market.
That, bulls might say, is the nature of the beast. THG is a technology business, investing now to build scale in its online retail outsourcing business. Once that reaches the right point, the positive case goes, that expenditure could pay off in spades. It is a similar story to the one heard from believers in the Ocado business case.
As with Ocado, in my opinion, the crux of the issue comes down to whether such a view holds water. Is THG indeed spending now to reap the rewards later? Or is it simply a business with a failed model, ready to keep burning up cash for the foreseeable future?
Strategic fog does not help
I confess, I am even more confused now than a year ago.
For years, THG was touting its Ingenuityplatform as a key growth driver. But last month it finalised plans to demerge that business.
That could help achieve a higher valuation for Ingenuity, which I think has never been well understood in the City.
But I wonder why THG, having blown the platform’s trumpet for so long, decided to demerge it. I also question the rationale for raising money by issuing new shares (as THG did) to demerge the business. Why not simply keep the division within THG, or cut the losses and close it down?
THG management’s strategic plan now seems less credible to me than it did before (and I have long had my doubts). Meanwhile, the beauty division grew sales in the first nine months of last year, while THG’s nutrition revenues shrank 7%.
If another bidder comes along, I reckon the THG share price could soar again.
Looking at the fundamentals, however, I see THG as a consistently loss-making business losing sales in a key division and lacking strategic consistency. Even though it sells for pennies, things might yet get worse. I will not be touching this share with a bargepole.
We’d all love to earn some passive income, wouldn’t we? I mean, who wouldn’t want regular cash coming in that we don’t have to work for?
I reckon the annual £20,000 ISA allowance is great for those of us investing for the long term. All of the profit we make in an ISA is tax-free, even for those who’ve built up a million or more in their accounts. (And thousands have achieved that, by the way.)
Please note that tax treatment depends on the individual circumstances of each client and may be subject to change in future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice. Readers are responsible for carrying out their own due diligence and for obtaining professional advice before making any investment decisions.
What can we earn?
One thing I love about an ISA is that it’s flexible. We often hear the old saying that we shouldn’t let the tax tail wag the investment dog, and that can make sense. A poor investment remains a poor investment even if we don’t pay tax on it.
But an ISA is just a wrapper, and we can use it to protect a whole range of investments. How well we perform is entirely our own responsibility.
For me, the choice of what to go for is easy. It’s a Stocks and Shares ISA every time, even if it gives me more risk to have to deal with. In the past decade, Stocks and Shares ISAs have averaged 9.6%. In 2019-2020, however, we saw a painful 13% loss.
But then, over the past 20 years, average annual returns from the FTSE 100 have come in at 6.9%. And that’s close to the very long-term rate.
Stocks to consider
So that’s the first thing. I think investing in the stock market needs a horizon of at least 10 years, ideally 20 or more. Over that timescale, the chance of stocks losing out to cash becomes increasingly low.
There are two other key ways to address risk. One is diversification, putting our cash into a wide range of companies in different businesses. The financial crash? The pharmaceuticals and energy sectors were fine, for example.
And then I try to invest in top companies in industries that seem like they could go on for ever. Ideally, they’ll have a defensive moat, generate strong cash flow, and pay steady dividends.
I’m looking at National Grid (LSE: NG.) as a passive income buy candidate. The dividend yield is forecast at 5.9%, which is close to that 20-year FTSE 100 return on its own.
Cash cow essential
National Grid provides an essential service, and it’s well protected against competition. But there’s a side to it that I like less. It’s the costs of maintaining and developing its network in the years ahead.
A new £7bn rights issue to help fund its plans led to this summer’s share price dip. If it happens again, it could drop the share price again. And it might even hit the dividend.
Against that, National Grid generated £7.3bn in cash flow from continuing operations in its last full year. And that’s just what I want to generate long-term passive income for me to reinvest for the future.
Individual investors need to develop their own investing approaches. But this is the kind of stock I go for in my diversified ISA.
Like many investors, I enjoy the passive income streams I can earn from owning dividend shares. One FTSE 250 share I used to own has had a tough year, with its share price falling over a fifth in just 12 months. That has pushed its dividend yield up to 10.8%.
A yield of almost 11% certainly grabs my attention. But, as many investors have learned the hard way, no dividend is ever guaranteed.
So could this be a bargain to snap up for my portfolio – or a value trap that might yet fall further?
Unconvincing dividend record
The share in question is the daftly named abrdn (LSE: ABDN).
While past performance is not necessarily an indication of what to expect in future, abrdn’s dividend history does immediately set an alarm bell ringing in my head.
The dividend has been held flat since 2020. That year saw a cut of around one third in the annual dividend per share. Prior to that, the ordinary dividend per share had been held flat for one year but before that it had been growing annually for a few years.
Before getting into the details of the business, that pattern alone makes this sound potentially like a situation where a company has been unrealistic about its long-term dividend capacity, tried to avoid a cut by holding it steady, and then faced the inevitable by lopping a big chunk off the payout.
Dividend potential – but also some clear risks
Is that what has happened at abrdn? To some extent, I think yes — and it may actually underplay the ongoing challenges the FTSE 250 firm may face in maintaining its payout.
Last year, the dividend of 14.6p per share was not covered by diluted earnings of 0.1p per share. The year before had seen a bigger gap, with the same dividend per share but a diluted loss per share of 26.6p.
Meanwhile, last year saw net cash inflows from operating activities double, to £221m. But that dividend was costing the company £267m, substantially more than its operating profit. That raises a red flag for me about the sustainability of the payout.
abrdn continues to battle risks such as investors pulling out more money than they put in. In its most recent quarter, institutional and retail wealth assets under management and administration shrunk slightly.
Set against that, the company’s interactiveinvestor division reported higher assets under management and administration, as well as a net inflow of client funds. By building its digital footprint, abrdn is hoping to get on a growth trajectory once more. If that can help it generate more cash, the dividend may end up being safer than it currently looks.
I’m not ready to buy
Still, that remains to be seen. abrdn has a lot of work still to do and the outlook for investor demand in the next several years is unclear.
With rising living costs and a weak economy, I see a risk of outflows from the sorts of funds offered by abrdn.
So while the high yield is attention-grabbing, for now I will not be adding this FTSE 250 share to my ISA.
EasyJet has announced flights from a major UK airport to a popular European destination which is perfect for a winter getaway.
Flights to Innsbruck in Austria now run from Birmingham Airport and will operate once a week throughout winter.
Seats are available to book at EasyJet.com and via the mobile app, with fares starting from just £14.99.
Innsbruck is located in the heart of the Austrian Alps and the city is an exciting destination to visit over the colder months.
It boasts a vibrant Old Town, a castle, a palace, a funicular, an alpine zoo and a stunning cathedral.
The flights from Birmingham to Innsbruck will run every Sunday until the end of March, providing a new convenient connection for those in the Midlands seeking a sensational ski or snowboard holiday to some of Austria’s world-famous resorts.
This includes St Anton, the birthplace of modern alpine skiing, which is only one hour away from Innsbruck.
Nestled in the snowy mountain landscape, Innsbruck is packed full of adventures for the non-skier too, with a charming old town, home to the sparkling Swarovski crystal company, and an imposing imperial palace from the former Habsburg dynasty that cannot be missed.
EasyJet UK Country Manager Ali Gayward said: “Our new service from Birmingham to Innsbruck in Austria provides our customers with even more connections to some of Europe’s top ski resorts.
“With demand for flights to the Austrian Alps taking off, we’re sure this fantastic new route will prove popular with our customers in the Midlands this winter season.”
Aviation Director at Birmingham Airport Aviation Director Tom Screen said: “EasyJet’s launch of the Birmingham-to-Innsbruck route highlights our commitment to expanding travel options for customers in the Midlands.
“This new connection not only supports the growing demand for flights to the Austrian Alps but also provides an excellent opportunity to explore Innsbruck’s rich culture and stunning scenery.
“Birmingham Airport is proud to collaborate with EasyJet to enhance connectivity and travel experiences for our passengers.”
IT: Welcome to Derryis just one of many highly anticipated shows set to hit HBO and the streaming service Max in 2025. Along with releases like The Last of Us Season 2, The Righteous Gemstones Season 4, and plenty of other series, the premium cable network has plenty of offerings in the coming year. Now, thanks to a new interview with Andy Muschietti, fans of the It films have new details about the upcoming prequel series along with a surprising new roadmap for the show should it find success with its first season.
In an interview with Radio TU, Muschietti delved into new story details about the series, specifically about the time period for the first season and when the next two seasons would take place should the series be renewed. Welcome to Derry is centered around the early days of Derry, Maine, exploring the origins of the terrifying Pennywise the Clown, with Bill Skarsgård reprising his role from the two It films. Muschietti told the radio show that the first season takes place in 1962, with a second season in 1935 and the third in 1908.
While the first season hasn’t even premiered yet, the director also revealed that HBO is eager to continue the series, wanting to start production on the second season as soon as possible. The faith the television network seemingly has in this series is astounding, which undoubtedly speaks to how good the company thinks the first season is. The financial success of the It films speaks to the untapped potential of further exploring the mythos of the horrific entity that haunts Derry, making an anthology series like Welcome to Derry feel like a no-brainer.
Stephen King’s ‘It’ is the Perfect Story for Anthology Horror
The ancient and evil entity at the heart of Stephen King’s original novel has a vast history that’s only briefly mentioned in both of Muschietti’s films, making this anthology series feel less like a cash grab and more like a natural extension of the two films. In an industry that is continuing to expand cinematic universes to the small screen, with series like The Penguin following up the story of The Batman and Dune: Prophecy serving as a prequel to the Dune films, Welcome to Derry has a chance to stand out with its anthology storytelling format.
‘The Flash’ director reveals that there is a script for ‘Shadow of the Colossus’…but is it actually happening?
With Muschietti’s comments about the setting for each season, it’s safe to assume that every season will also have a new cast of characters inhabiting the town of Derry. With such a drastic change every season, it will also keep new and old viewers interested in the story that the team behind the series aims to tell. So many different period settings also lead to different manifestations of fear, hopefully making the It entity at the heart of the story less repetitive and more unique with each season.
IT: Welcome to Derry is set to premiere its first season in 2025, and with a second season apparently already underway, according to Muschietti, this television series is definitely one to keep an eye on this year. Moreover, there are also plenty of other aspects to Derry to explore besides the entity that stalks it, making this upcoming series all the more exciting.
Despite no signs of a Bloodborne remake in the decade since its release, some talented fans have managed to emulate the uniquely grim world of Yarnham on PC in surprisingly high quality. Taking advantage of the PC’s uncapped hardware, the emulated version of Bloodborne lets players experience the iconic world of Bloodborne in high-definition resolutions and greater frame rates than ever before. While the current Bloodborne emulator builds are far from the perfect FromSoftware remaster fans have been craving for years, a recent mod has pushed them to even greater heights than ever.
Even with the state of the community-made Bloodborne PC port being the most stable yet, it still comes with the huge catches associated with an unofficial project. On top of the instability that comes with the work-in-progress emulator, it can require some tinkering and know-how to get working on most PCs, but it looks fantastic to play after it’s up and running. While it’s great to relive the classic Bloodborne experience on improved hardware, there’s one mod that’s a must-have for anyone still waiting for a Bloodborne.
The Bloodborne Magnus Opus Mod Restores Years Of Cut Content
Transforming Bloodborne Into A Brand New Experience
Reportedly taking the developer Abyss1ne on Nexus thousands of hours of data-mining and remodeling, the Bloodborne Magnum Opus mod aims to restore as much of Bloodborne’s cut content as possible. While the mod itself was first released in 2022, it had a massive update titled the “Project Beast Update” on the 29th of December, adding a plethora of restored content alongside some much-appreciated bug fixes.
Bloodborne’s horror-fueled narrative would normally be something I avoid, but its soulslike gameplay was a game-changer for this 2015 hit.
Given that the unique and dark world of Bloodborne is one of its best-selling points aside from its tension-filled blood-pumping combat, the Magnum Opus project allows players to see never-before-seen content realized in-game for the first time.
Adding a plethora of restored content alongside some much-appreciated bug fixes.
Each character in Bloodborne is dripping with a unique personality tied to their game world, offering some of the most interesting characters from the Soulsborne franchise, from climactic bosses like Lady Maria to nameless yet tragic NPCs. Given that much of the restored content is from previous iterations of Bloodborne‘s development, not all of it fits as cohesively in the game world, although it provides an interesting insight into an alternate version of Yarnham and its characters
While not all the content restored from Abyss1ne’s Magnum Opus is the most lore-friendly for first-time players, this mod provides a fantastic way to relive the experience of playing Bloodborne for the very first time and discovering new things its haunted world has to offer.
Playing Bloodborne Has Never Felt Better On PC
An Even Better Way To Play The Classic Souls Like
While the unofficial Bloodborne PC port had a rocky start initially with poor performance, sound issues, and missing assets, it’s improved exponentially in only a few short years. Using the most recent builds of the Bloodborne PC emulator even allows for a fully seamless playthrough, being excellent proof that an official Bloodborne remake is more than possible, albeit no more likely to be released. While the emulated Bloodborne isn’t the perfect remastered experience players have been craving while being limited to the PC, it’s already a massive upgrade from the PlayStation edition thanks to its uncapped settings and modding capabilities.
10 years after its release, Bloodborne has received some brand new lore from an unlikely source and it could have interesting story implications.
While the Bloodborne port is a fantastic way to relive the iconic souls on its own, mods like the Magnum Opus project and other community projects take the emulated experience to even greater heights. As the Bloodborne PC port rises in popularity, it’s likely that more mod creators will follow suit, adding even more unique content or fan-made DLC and adding even more incentive to skip the wait for an official patch.
Even if it’s highly unlikely an unofficial port would receive any kind of support from developers or Sony, the success of the Bloodborne PC emulator could stir up enough attention to help convince Sony to finally start working on the long-awaited remaster.
Demand For More Bloodborne Content Is Higher Than Ever
A Missed Opportunity For Sony And FromSoftware
Custom Image by Steven Garrard
While it’s easy to think that Sony has completely forgotten about the dark world of Bloodborne, its appearance in the PlayStation’s 30th-anniversary trailer and a number of references in the recent Astro Bot make it hard not to be suspicious. Despite a complete lack of news regarding an official Bloodborne remake, it’s clear that executives at Sony are at least somewhat aware of just how popular the iconic FromSoftware RPG really is.
After countless rumors and leaks, there’s not much more of a chance for an official Bloodborne remake now than half a decade ago, especially with Sony’s recent interest in FromSoftware being more likely to target the monolithic Elden Ring and Dark Souls games.
The FromSoftware team would be more than happy to work on the project but doesn’t currently have any say in the decision.
The demand for Bloodborne has gotten so strong that even the developers at FromSoftware have expressed their interest in the project, with Miyazaki himself claiming that the FromSoftware team would be more than happy to work on the project but don’t currently have any say in the decision. While there’s no concrete evidence for its inclusion, Elden Ring Nightreign‘s inclusion of past characters could see the return of iconic Bloodborne assets and bosses to their fully remastered glory. While it’s pure speculation at this point, some form of inclusion in the seemingly non-canon world of Nightreign would be an excellent compromise for fans of the series desperately waiting for a future port.
Even with disappointment from the lack of official updates for Bloodborne fans, the emulator might be the best way to play in the long run, eliminating the need for a remaster altogether. The PC emulator allows dedicated players to run Blooborne better than they could on consoles, alongside the addition of mods to give players more control over their experience, provided they have the hardware to match.
The NHL has postponed Wednesday night’s scheduled game between the Kings and the Calgary Flames at Crypto.com Arena because of the wildfires burning across L.A. County.
“Our hearts are with our entire Los Angeles community,” the Kings said in a statement. “We appreciate the hard working First Responders who are diligently working to contain the fire and protect our community.
“We appreciate the League’s support in keeping our fans, staff, and players safe.”
The Kings said the game will be rescheduled for a later date and tickets for Wednesday’s game will be valid on the rescheduled date. More information and additional ticketing options will be offered by the Kings once the new date and time are confirmed.
The Lakers are scheduled to host the Charlotte Hornets at Crypto.com Arena on Thursday night. The NBA declined to comment on whether that game will take place as planned.
Firefighters have been battling multiple blazes since Tuesday, with wind gusts reaching nearly 100 mph and fueling three major fires that have burned more than 1,000 buildings and caused at least two deaths. The Palisades fire has burned more than 5,000 acres and many homes, businesses and landmarks in Pacific Palisades and westward along Pacific Coast Highway, toward Malibu.
The Eaton fire has burned more than 10,000 acres and numerous structures in Altadena and Pasadena, and the Hurst fire has burned 505 acres around Sylmar.
Oklahoma City Thunder star Shai Gilgeous-Alexander will be the spotlight player for NBA 2K25 Season 4, which begins on Jan. 10, 2K Entertainment and Visual Concepts announced in a new Courtside Report post. Visual Concepts previously themed a season’s cosmetics around the cover athlete’s signature style, but this time, the studio is celebrating Gilgeous-Alexander’s performance in the current season and his status as a two-time All-Star ahead of NBA All-Star Weekend 2025.
NBA 2K25 Season 4 adds over a dozen new cosmetics to unlock as players increase their MyCareer level, including the Phoenix Suns‘ gorilla mascot, a banana man costume and a varsity jacket. Some rewards, such as the Drift Trike and Cap Breaker are available only in NBA 2K25’s PlayStation 5 and Xbox Series X|S versions.
The new season also introduces several new MyTeam cards designed to improve NBA 2K25’s roster depth. The headline additions are:
Anthony Edwards Evolution Card — Complete challenges as Edwards to increase the card’s level
Diamond Cole Anthony — Obtained after reaching level 10
Diamond James Jones — Obtained after reaching level 20
Pink Diamond Clint Capela — Obtained after reaching level 30
Galaxy Opal Xavier McDaniel — Obtained after reaching level 37
Dark Matter Dwyane Wade — Obtained after reaching level 40
The reward list includes Hall of Fame badges and high-ranking card packs between these milestones, and new to this season is the chance to earn Diamond-ranked cards outside the season pass. Completing all 33 games in the new NBA Journeys Domination mode earns players six Diamond cards and a level 99 Galaxy Opal Bill Walton card. The Diamond players are:
The W Online, NBA 2K25’s women’s league, is also adding a Lauren Jackson coach card as its flagship season reward.
ABU DHABI, United Arab Emirates — Tom McKibbin could be headed to the LIV Golf League, a few weeks after securing a card to play on the PGA Tour.
When asked Wednesday about a potential move to the Saudi-funded breakaway circuit, the Northern Irish golfer told Golf Digest Middle East: “I’m not going to make any comments this week.”
The No. 110-ranked McKibbin, 22, was speaking while preparing to play in the Team Cup, an unofficial event to get prospective European players ready for the Ryder Cup in September at Bethpage Black.
McKibbin will be playing for Britain and Ireland, captained by Justin Rose, against players from Continental Europe under the gaze of European Ryder Cup captain Luke Donald.
McKibbin said he didn’t want to comment on the LIV Golf reports “out of respect for Luke and Justin and this tournament.”
“It’s a team event,” he said, “so just trying to give my best to the team and see how many points I can get.”
McKibbin’s potential move to LIV Golf was first reported by Spanish website TenGolf.
He grew up playing at the same club — Holywood Golf Club — as compatriot Rory McIlroy.
McKibbin was embraced by McIlroy after learning he had secured his PGA Tour card — courtesy of the points he gained during the European tour season — after the World Tour Championship in Dubai in November.
There was a time when Fania Records was the most transcendent label in Latin music — hailed as the Motown of salsa. From its apocalyptic rise in late ’60s New York to its triumphant empire of sound throughout the ‘70s and ’80s, the company sold albums by the millions, its incomparable roster showcasing the pedigree and sophistication of Afro-Caribbean music: Celia Cruz and Tito Puente. Héctor Lavoe, Willie Colón and Rubén Blades. Ray Barretto, Larry Harlow and Eddie Palmieri, to name a few.
But the imprint that defined the identity of an entire genre eventually succumbed — like salsa itself — to inevitable decay and the emergence of new trends. When Daddy Yankee dropped “Gasolina” in summer 2004, many thought of reggaetón as the salsa of the younger generation — music that is Puerto Rican to the core, edgy and unpredictable, socio-politically aware and compulsively danceable.
Hector Lavoe — Fania 60th anniversary cover art for 2024 vinyl reissues by Craft Recordings Latino.
(Craft Latino)
But the Fania legacy remains, not only in the memories of those who were lucky to experience the ’70s salsa explosion in full bloom but also most importantly, in a catalog that includes thousands of timeless albums.
In 2024, the label celebrated its 60th anniversary, and the question on whether this treasure trove of Latin culture is being curated properly has become more pertinent than ever.
“If you wore a Fania T-shirt in New York during the ‘90s, people would stop you on every block and ask where you got it,” says Bruce McIntosh, vice president of Latin catalog at Craft Recordings, the Concord imprint in charge of Fania and other prestige labels.
“For kids today, it’s not their parents who listen to this music, but their grandparents. They have heard the songs and the artists but are unfamiliar with the label. It’s our mission to make the new generations aware of it.”
Fania was founded in 1964 by Johnny Pacheco, a prolific Dominican musician and bandleader, and divorce attorney Jerry Masucci in order to release Pacheco’s “Cañonazo” — a lovely, rustic collection of lilting tropical dance tunes, including a cover of the Cuban standard “Fania.” Dozens of masterpieces followed, from Ray Barretto’s 1968 expansive “Acid” — a celebration of psychedelia, Latin soul and boogaloo — to Cruz and Pacheco’s joyful “Celia & Johnny” — a 1974 LP that gave Cruz her mojo back and confirmed her Queen of Salsa status with the mega-hit “Químbara.”
“Fania All Stars” — Fania 60th anniversary’s cover art for 2024 vinyl reissues by Craft Recordings Latino.
(Craft Latino)
By the late ’90s, the company had gobbled up the assets of most of its competitors — classic labels like Tico, Alegre and Inca. But its glorious catalog lay in disarray, waiting for an astute buyer willing to mine its precious gems.
The label changed hands a couple times and then in 2018, Concord Music acquired Fania Records and publishing — its 19,000 master recordings and 8,000 compositions — in a deal reported in the vicinity of $30 million. Considering the huge size and cultural significance of these assets, fans have been waiting to see what steps Concord will take to curate the Fania canon.
Not much, as it turns out.
Other than manufacturing a handsome CD box set of Latin soul singles, Concord has limited its curation to showcasing the original albums in high-resolution audio on streaming services and releasing a handful of classic titles on 180 gram vinyl. “We’re doing about a dozen vinyl releases around the 60th anniversary,” says Sig Sigworth, president of Craft Recordings. “We just have to pick and choose which albums we’re going to do.”
More than 40 million records were sold in the U.S. last year, but with streaming still taking the lion’s share, vinyl amounts to less than 5% of album equivalent music consumption. Fania reissues are ideal for DJs and collectors but they do little to highlight the depth of the label’s discography.
Cover art for reissue of a Roberto Roena record.
(Craft Latino)
In 2018, Craft released a sumptuous, five-CD box set on another flagship imprint. “Stax ‘68: A Memphis Story” compiles and annotates the singles released by the iconic soul label in 1968, one of its most fertile years. Another set followed in 2023 — “Written In Their Soul: The Stax Songwriters Demos.” Could Fania benefit from a similar approach?
“The first thing I would do is remaster and reissue the complete catalog in physical format,” salsa legend Blades says from his home in New York. “Putting out the music by itself wouldn’t be enough, though. I would commission a series of box sets, examining the music and placing it in the right historical context.”
At age 76, Blades remains active in music. In November, he added another Latin Grammy to his collection. A Panamanian singer-songwriter, he arrived in New York in the early ‘70s, got a job in the Fania mailroom and from there persuaded some of the label’s stars to record his compositions. After a stint as the singer with Baretto’s orchestra, he formed a brilliant partnership with trombonist and producer Willie Colón. Released in 1978, their sociopolitical tropical manifesto “Siembra” remains the quintessential salsa LP.
The cover art for a 2024 vinyl reissue of a Celia Cruz LP.
(Craft Latino)
“Something that hasn’t been discussed enough is salsa’s contribution in the fight against racism,” he adds. “No one cared about the color of your skin at the Palladium nightclub. It didn’t matter if you were ugly, had dirty shoes or three teeth missing. If you knew how to move on the dance floor, the most beautiful girls would fight over you.”
Tomás Cookman, founder of the Los Angeles-based boutique label Nacional Records, and one of the most passionate champions of Latin music in the U.S., has his own wishes for the catalog.
“If I was in charge of Fania, I would definitely take a master class at Rhino Records,” says Cookman. “I handle Talking Heads, and I see the kind of love and quality that Rhino is investing into the band’s recent reissues.”
A lifelong salsa fan, Cookman dreamed of acquiring the Fania assets himself, but Concord beat him to the punch as he attempted to raise funds.
Cover art for a reissue of a Ralfi Pagan album.
(Craft Latino)
“Of course, it’s so easy to be the Monday morning quarterback,” he says with a smile. “But I feel Concord is being shy about promoting the music. And we’re not in 1987 anymore, when you had to print 200,000 copies of a release. In this day and age, you can just order 10,000 copies, and sell all of them. We do that routinely at Nacional.”
Looking into the future, there are two potential Fania avenues. One is focusing on the catalog’s more obscure titles. For every album by Cruz or Puente, there is a wealth of lesser known gems — from the ragged, self-titled 1972 debut of La Conquistadora, featuring 16-year-old pianist Oscar Hernández, future leader of the Spanish Harlem Orchestra, to “In Line,” a swanky boogaloo session by conguero George Guzman.
The label has scoured the master tapes in search of demos and outtakes, false starts and studio banter — a strategy that has paid off handsome dividends for a number of luminaries, from Elvis Presley to King Crimson.
“We have outtakes, and some odds and ends, but there’s nothing new,” counters McIntosh. “Everything has already been discovered. There are a lot of false starts, but no complete songs. A lot of it is not even music, like laughter breaking out or [salsa star] Héctor Lavoe asking someone to shut the door. It could be added content — but digitally, there’s not a lot of places where you can put that.”
“There’s another aspect where Fania has failed,” argues Blades. “They should have released new albums by the surviving musicians. The original artists who participated in the salsa explosion of the ’70s should have made new recordings and organized a tour that would, in itself, help to revive the catalog. But they did none of that. At the end of the day, these people are in the business of selling records.”
For now, the lavish vinyl reissues will have to do. And for people approaching the Fania discography for the first time, the old albums still dazzle with their poetry and vision.
“We’re also focused on teaching young people what the roots of Latin music are,” says McIntosh. “Where are those Rauw Alejandro or Bad Bunny samples coming from. Some of these kids don’t even know what a CD is, because they’re 18 years old.”
Album art for a Hector Lavoe reissue.
(Craft Latino)
“When you look at this kind of reissue, you’ve got to be able to tell a story in order to curate something in a unique way,” says Sigworth. “How are we going to tell it? How do we interweave the music and the liner notes in order to take that narrative where we want it to go? Fania was a gateway for not just the music but also the voice of Latinos in the ’70s and ’80s.”
Blades, who continues to perform at sold-out venues across the Americas, believes that the potential of salsa to reach the mainstream is still there.
“To think that this music is old and irrelevant is not grounded in reality,” he says. “I just came back from performing a concert in Cali and saw 20,000 Colombians singing along. Most of them were young. I told them, ‘When this song came out, you hadn’t been born yet.’”
