I was listening to the rerelease of Nick Lowe's first record Jesus of Cool (retitled Pure Pop For Now People for the U.S. with a few track changes). It's a great two-disk set... although for some reason I couldn't find the second disk.
If I left it in a rental car in Alaska and you find it, please send it back to me.
This song mentions three of the major record labels from 1978.
Of the three:
- CBS (Columbia Records in the U.S.) was sold to Sony in 1988
- Arista was sold to a German company (which also bought RCA) that rechristened itself BMG. Arista operated as a label until it was eliminated in 2011 in a corporate reorganization, which Detroit staffers refer to as "going to the big Pontiac in the sky"
- Only Atlantic still exists -- and that's probably because it already sold out to Warner Bros. in the late 1960s.
For years, one of my favorite radio stations would play this song every July 4th at noon. They played it from vinyl and the record was filled with clicks and pops that perfectly amplified the song's story of disappointments and the sad shimmer of hope. A few years ago, that radio station upgraded all their equipment and their library. When they played the song at noon on the 4th of July, the sound from a shiny, newly remastered CD free from surface noises. 
