HOT FLASHES: Is Chrysalis Records’ colorful president...

HOT FLASHES: Is Chrysalis Records’ colorful president Mike Bone on his way out as head of that label? That’s been the big rumor in the record industry, with trade-paper reports saying Bone could be headed toward Arista Records, which just lost its top exec, Donnie Ienner (who’s moving to CBS). The rumors have been fueled by reports of a possible sale to BMG Music or a takeover bid by David Geffen, who recently purchased 10% of Chrysalis stock. We’d bet against Bone leaving. A longtime promotion whiz whose speciality was breaking hard-rock bands, Bone would seem out of place at Arista, a label largely devoted to mainstream pop acts. Meanwhile, he can point to a promising crop of young bands at Chrysalis, including Was (Not Was), Pursuit of Happiness and the Waterboys (who’ve all topped the 100,000 sales mark). “If it wasn’t for all these trade press rumors, there’d be a lot more pine trees in south Georgia,” Bone responded. “I have no desire or plans to leave here. I couldn’t be happier here. I’m real proud of what we’ve accomplished so far.”