Joel Rosenman
Encyclopedia
Joel Rosenman conceived and co-created the Woodstock Festival
in 1969. Rosenman thought of the idea for the three-day concert when he and business partner John Roberts
evaluated a recording studio proposal brought forward by Michael Lang and Artie Kornfeld
. The four went on to create the event; Rosenman and Roberts are the co-authors of Young Men with Unlimited Capital, also published as Making Woodstock, a non-fiction account of their exploits as producers of Woodstock.
In 1967, Rosenman and Roberts drafted the pilot episode of a situation comedy based on two young men looking for investment opportunities. In search of plot material for the series, they placed a classified ad in The New York Times claiming to be "Young men with unlimited capital" looking for "legitimate and interesting...business proposals." Rosenman and Roberts received thousands of responses, including a few which lured them into the field of venture capital as entrepreneurs rather than sitcom writers. The following year, in 1968, they commenced work on the construction of Media Sound Recording Studios, a large-scale recording complex on the west side of Manhattan in New York. A year later, the studios opened to considerable interest in the music world. Throughout the 1970s and early 1980s, it was the preferred recording location for many of the era's leading artists.
Though the 1969 Woodstock Festival earned acclaim and cultural prominence, the overwhelming turnout resulted in unforeseen expenses which left Woodstock Ventures in substantial debt. For more than a decade following the Festival, Rosenman and Roberts worked to repay the losses from the event, eventually tying up those loose ends in the early 1980s.
, Source Financing Investors. The fund advanced Democratic Party
fundraiser Norman Hsu
's company, Components Ltd., $40 million dollars, money which Rosenman later reported to be missing. Hsu pleaded guilty to counterfeiting documents and defrauding Rosenman and other investors out of their investments.
Woodstock Festival
Woodstock Music & Art Fair was a music festival, billed as "An Aquarian Exposition: 3 Days of Peace & Music". It was held at Max Yasgur's 600-acre dairy farm in the Catskills near the hamlet of White Lake in the town of Bethel, New York, from August 15 to August 18, 1969...
in 1969. Rosenman thought of the idea for the three-day concert when he and business partner John Roberts
John P. Roberts
John P. Roberts was a businessman who bankrolled the Woodstock Festival.Roberts was an heir to the Block Drug fortune....
evaluated a recording studio proposal brought forward by Michael Lang and Artie Kornfeld
Artie Kornfeld
Artie Kornfeld is an American musician, record producer and music executive. He is perhaps best known as the music promoter for the Woodstock Festival held in 1969.- History :...
. The four went on to create the event; Rosenman and Roberts are the co-authors of Young Men with Unlimited Capital, also published as Making Woodstock, a non-fiction account of their exploits as producers of Woodstock.
Childhood and education
Born the second of three children, Rosenman grew up on Long Island in the town of Cold Spring Harbor, New York. He attended Huntington High School from 1956 to 1959, graduating at age 16. Rosenman earned a B.A. in English from Princeton in 1963 and a J.D. from Yale Law School in 1966. Throughout college and graduate school, he helped finance his studies by working as a professional musician, both as a solo artist and band member.Early career and Media Sound
Following graduation from law school, Rosenman continued to perform in the New York City folk music scene of the 1960s, working at a law firm during the day. John Hammond, then head of A&R at Columbia Records, offered him a recording contract in 1967, but Rosenman opted instead for a career in writing and venture capital with friend, and then partner, John Roberts.In 1967, Rosenman and Roberts drafted the pilot episode of a situation comedy based on two young men looking for investment opportunities. In search of plot material for the series, they placed a classified ad in The New York Times claiming to be "Young men with unlimited capital" looking for "legitimate and interesting...business proposals." Rosenman and Roberts received thousands of responses, including a few which lured them into the field of venture capital as entrepreneurs rather than sitcom writers. The following year, in 1968, they commenced work on the construction of Media Sound Recording Studios, a large-scale recording complex on the west side of Manhattan in New York. A year later, the studios opened to considerable interest in the music world. Throughout the 1970s and early 1980s, it was the preferred recording location for many of the era's leading artists.
Woodstock
Known for their involvement with Media Sound, Rosenman and Roberts were approached by Michale Lang and Arthur Kornfeld, who initially approached Media Sound for partnership in building a recording studio in upstate New York. Intrigued by a section in their proposal which called for an opening day cocktail party that would invite local artists "like Bob Dylan", Rosenman recast the proposal as a concert instead of a studio. He and Roberts encouraged Lang and Kornfeld to consider the idea, and the four later agreed upon the new direction, forming Woodstock Ventures, Inc. to develop the concert over the ensuing six months. Zoning Board permits issued to Woodstock Ventures authorized a maximum attendance of "50,000," but in August of 1969, several million would-be concert-goers clogged the highways and country roads of New York State, trying to get to the concert. Half a million succeeded in reaching the performance area and spent the weekend helping to create the "Woodstock" phenomenon.Though the 1969 Woodstock Festival earned acclaim and cultural prominence, the overwhelming turnout resulted in unforeseen expenses which left Woodstock Ventures in substantial debt. For more than a decade following the Festival, Rosenman and Roberts worked to repay the losses from the event, eventually tying up those loose ends in the early 1980s.
Current
Rosenman managed an investment fundCollective investment scheme
A collective investment scheme is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group...
, Source Financing Investors. The fund advanced Democratic Party
Democratic Party (United States)
The Democratic Party is one of two major contemporary political parties in the United States, along with the Republican Party. The party's socially liberal and progressive platform is largely considered center-left in the U.S. political spectrum. The party has the lengthiest record of continuous...
fundraiser Norman Hsu
Norman Hsu
Norman Yung Yuen Hsu , born October 1951, is a convicted pyramid investment promoter who associated himself with the apparel industry. His business activities were intertwined with his role as a major fundraiser for the Democratic Party, and he gained notoriety after suspicious patterns of bundled...
's company, Components Ltd., $40 million dollars, money which Rosenman later reported to be missing. Hsu pleaded guilty to counterfeiting documents and defrauding Rosenman and other investors out of their investments.
Further reading
- Rosenman, Joel. Young Men With Unlimited Capital: The Story of Woodstock. Scrivenery Press, 1999. ISBN 9781893818026.