The record executives are the high heeled boys, as a kind of play off of well heeled. In the lyrics they do use high-heeled boys, which may or may not be a reference to their sexual deviancies as well. That's perhaps a more hidden meaning.
Other interpretations make it about drug usage & the relationship between user & supplier, & high-heeled boys is a reference to an 8-ball mixture of cocaine & heroin.
As far as I know Steve Winwood has never really come out and said what the lyrics mean. So, we have several options to choose from. Those are only 2. But I have always loved the song and my interpretation has always been the first one, because to me it has a deeper meaning than the drug usage one. 🙂
Am I right? Who knows, and frankly who cares. 🙂
I know, here's my story.
I had a good gig at a DFW airport hotel, and then a "woke" new supervisor came in.
She hated me and she was deternind, to put me in my place.
Well anyway, the local radio station's( WBAP/ 10/26/21) , Brad Barton, was telling everybody to get shelter, and I said to Mereduth and I'm suggesting that all shuttles should be canceled for the time.
Well she got fire in her eyes and she said "No", You will do what I say"
I walked away.