I had a mic that I left on when I went on vacation. It was an SM58 attached to an ART Tube MP. It was a nice combination for like snare drums and what not. Anyways, I packed up and left and went to the wisconsin dells and did some put put golfing and also a little drinking and some fly fishing. Anyways, I was just getting back home (about a block away) when BOOM! The whole side of my garage just erupted in flame and smoke. I thought "well I'll be" Anyways it turns out that the SM58 was on a faulty mic stand and that it fell over on an old WWII clay mortar that I had sitting in the garage BOOM! Whole thing went up just like that.
What happened next though is really amazing. The gas main blew and somehow got into the storm drains in the street (York Avenue) Anyways, they lit up like the fourth of july Took out nearly three miles of York Avenue just past barbecue Jims down there by elmwood. Holy cow was that loud !
Next thing I know all of this hubub attracted damn near every police cruiser and fire and rescue vehicle in the O'Hare vicinity to quaff the flames and generally spruce things up. This activity had the unwanted effect of attracting a (hotly debated) race of aliens called Predators who are only partially visible and have advanced weapons. Well, I tell you what we had a real bitch of a time getting rid of those buggers.
Anyways, that's why you should be careful about Phantom power.
The good news is that the SM58 still sounds as good as the day I bought it.