MCA was Lynyrd Skynyrd's record company. This song is based on how they were signed. The "Yankee Slicker" is Al Kooper. They actually were signed for $9,000.
After recording "Sweet Home Alabama," Lynyrd Skynyrd performed at the "Sounds of the South" press party. According to the booklet included with their box set, "When Skynyrd hit the stage with a roaring version of 'Workin' For MCA,' written especially for the event, the party stopped while 500 hardened industry vets stood on chairs to get a glimpse of the unknown band." A few months later, Lynyrd Skynyrd opened for The Who on their "Fallout Shelter" tour.
The "seven years of hard luck" in the opening line is the time from 1966 to 1973. 1966 was when the group changed their name to Lynyrd Skynyrd, and 1973 was when their first album was released.
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