CRACK SHOT:

Our Sassiest Ad of the Week Award goes to Elektra Records. The label’s new full-page trade ads tout a host of current albums, accompanied by a photo of Washington mayor Marion Barry. The ad’s headline reads: “Record Bust. Busted Records.” (The label’s credit, at the bottom of the page, goes: “Just another stupid crack . . . from Elektra.”) . . . Warner Bros. Records has signed Squeeze, who left A&M; after more than a decade there. But before the band moves to Burbank, they’ve made a one-album deal with I.R.S., who’ll be releasing a Squeeze live album, “A Round and A Bout,” in May on I.R.S.’ Deptford Fun City label. . . . The Cowboy Junkies are back with a new album, “The Caution Horses,” which features a remake of Neil Young’s “Powderfinger.” . . . And starting next Sunday, L.A.’s leading local rock haven, the Coconut Teaszer, will celebrate its third anniversary of live music. The festivities kick off with the Dickies and conclude Feb. 28 with the Rock City Angels and the Nymphs, who both performed at the club’s opening night. Other bands on display (most of whom have signed deals with big-time labels) will include Burning Tree, Rhino Bucket, E.G. Daley & Slave, the Fuzztones and Flies on Fire.