Formed in 1993, Scott McCaughey designed The Minus 5 as a pop collective, with each record the group put out featuring a new lineup. Throughout these releases, he worked the most frequently with R.E.M.'s Peter Buck, who was featured on the group's eponymous debut EP, which was only released through They Might Be Giants' mail-order record club, Hello CD of the Month Club in 1994. Their full-length debut album Old Liquidator was released in 1995, and the Minus 5's lineup consisted of McCaughey, Buck, and Jon Auer and Ken Stringfellow of The Posies.

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