Hopeless Records founder Louis Posen profiled in Businessweek

Business week has put together a detailed profile of our friend and philanthropist, Louis Posen. Posen's imprint, SubCity recently celebrated the raising of more than $1,000,000 for charity, The label formed in 1993 to release records from 88 Fingers Louie and Guttermouth but has gone on to form a successful charity arm (Subcity Records) and a series of high profile tours (Take Action!).

Importantly, the label promises 5% of gross revenue to charity, not the after–cost revenue, meaning that the label will present 5% of the wholesale sticker price to charity –– not a number that has been lowered by accounting tricks.

As we mentioned previously, all this happened as founder Louis Posen was
diagnosed with retinitis pigmentosa, a rare disease in which the retina of the eye progressively degenerates.

You can check out the story here.