November 14th, 1981: "Tainted Love" - Soft Cell [R]
Event: In mid-November 1981, newly appointed Reckless Records President Mike Chapman* begins a purge of less successful or waning Reckless Records acts. Among these acts are Sweet, Blue Oyster Cult, The B-52s and Electric Masons among others. All four of the above acts gain new contracts with other labels (though it took Electric Masons 7 months to find a new label), but many of their now former label-mates are furious. This purge begins a massive chain reaction that results in the entire label picking a side, with every act having to decide whether they are staying or quitting, including the label's biggest acts. Judas Priest quits on the spot, as does Queen (after Rob Halford convinced Freddie Mercury to quit). The Runaways also quit, and soon afterwards break up after years of infighting. Other acts are divided on the issue, to the point of breaking up over it. Dead End Losers break up, Joey and Dee Dee sided with the label whereas the rest of the band wanted to quit. High Voltage breaks up, Lemmy supported staying with the label, while the Young brothers supported quiting. Lemmy, Joey and Dee Dee all sign solo contracts with the label. Many suspect the entire purge was set off by Chapman as a way to get revenge against Sweet for firing him years earlier (he was their producer for a while). The label's image is irreperably tarnished as a result of these events.
*Finally picked somebody to be president of Reckless... the poor bastard
(I don't have as much time to work on this anymore, so I'm going to be quite a bit less in-depth with my events. I also won't be listing every change to the Reckless Records roster and will instead denote singles released by the label with this [R] next to the song title)