OK...I dropped my mic. And, it needs to be fixed.
 
But I'm curious if anyone has experienced this problem. The mic (AKG C 414 B) takes a 1.5 minutes to regain it's output.
 
It seemed weird so I tested it by doing the following: (1) set the mic in front of my cell phone which was emitting a metronome sound. The input registered on the track was constant (e.g., -12 dB). (2) Picked up the mic and talked into it at 0dB for about 10 seconds. As I was talking the input level slowly depreciated. (3) Place mic back in front of cell phone to which it was now at -30dB. (4) waited 1 1/2 minutes until the mic was outputting the initial -12 dB.
 
Note: This did not happen with other mics.....and....this did happen in other daw/sound cards.
 
Anybody have ideas about this particular malfunction.

I think you answered your own question (Mic was dropped, now acting erratically).
 
It might be as simple as a loose/broken connection inside, but unless you have some basic soldering skills, I'd leave it to a professional.

Loose connector or worse.
The mic capsule is essentially a capacitor and now it's not getting properly charged.

I've seen similar symptoms. It was with a ribbon mic rather than a condenser, but both depend on mechanical parts being precisely positioned. In a condenser, the critical components are the fixed and moveable halves of the capacitor, which have to be very close together but can never touch one another. If either side's mounting were to come loose, the distance between them could change just by singing into the microphone or bumping it. That would definitely cause varying output levels, perhaps even cutting the mic off altogether.
 
I would definitely advise sending it to AKG or an AKG-authorized repair place. I'm normally a DIY-type guy, but even I wouldn't mess with the mechanical parts in a microphone. It would not hurt, however, to open the basket and have a close look first.
 

All I can say is don't drop any mike with the exception of a SM 58! 

Yup....don't drop...yer right thanks guys

So did you ever get it fixed?