This is from the "Strange Stuff You Learn on the Internet" file. Farmers, manufacturers, trucking companies, and airlines aren't the only one who use derivatives to lock in prices. Add Metallica to the list. Their manager uses the financial instruments to mitigate foreign currency risk and ensure the value of their ticket and merchandise sales.
Hugely popular bands like Metallica are in essence significant businesses. On their 2010 World Magnetic Tour, the band raked in over $217 million dollars. To handle 187 shows on five continents requires hundreds of stage hands and technicians. Then there are the staff managing the fan club and the band's website and the staff needed to keep everyone paid and organized. Derivatives help them manage uncertainty and use their available funds to keep people employed and fans happy.
Before I "Fade to Black," this is a reminder that derivatives aren't scary things. They're useful tools that businesses use to effectively manage risk. I hope regulators don't "Seek and Destroy" their usefulness. No need to get all "Frantic."