MGM files for bankruptcy

TarJak · 11-05-10, 02:43 AM

http://www.smh.com.au/entertainment/...ml?autostart=1

the_tyrant · 11-05-10, 05:21 AM

well, we still have james bond

Jimbuna · 11-05-10, 07:18 AM

Should have moved into the porn movie business when they had the chance

Skybird · 11-05-10, 07:33 AM

That was coming since long.

Kapitan_Phillips · 11-05-10, 07:42 AM

Even though the "Blood Stone" Bond film was cancelled, the game still came out. I've played it, and its definately worth a look!

Penguin · 11-05-10, 08:48 AM

RIP leo!
The good flics in the past few years were prodced by Weinstein anyway, seems MGM went down like the dinoaur it was.

More shocking news: the remake of "Red Dawn" could become the next "Duke Nukem Forever": http://www.slashfilm.com/2010/06/10/...-indefinitely/

ETR3(SS) · 11-05-10, 11:56 AM

Well when you make movies that are pretty much one explosion after another without having a good solid plot, people might get tired of your movies.

Takeda Shingen · 11-05-10, 12:05 PM

Quote:

Originally Posted by ETR3(SS)

Well when you make movies that are pretty much one explosion after another without having a good solid plot, people might get tired of your movies.

If only that would happen with Michael Bay.

FIREWALL · 11-05-10, 12:06 PM

So What. They get to stiff who they owe money to and, doors are open and business as usual come monday.

Platapus · 11-05-10, 03:04 PM

http://blogs.wsj.com/deals/2010/11/0...gm-bankruptcy/

Diopos · 11-05-10, 04:07 PM

“Gone with the Wind”

Literally!

.

TarJak · 11-05-10, 04:14 PM

Quote:

Originally Posted by FIREWALL

So What. They get to stiff who they owe money to and, doors are open and business as usual come monday.

That's the part about Chapter 11 I don't get. Over here if you go bust your assets get sold and your creditors are paid whatever there is left and you don't get to keep on trading.

There are also restrictions on business ownership and directorship if you personally are declared bankrupt.

From what I can tell the law in the US protects the dodgy companies more than the companies that are their creditors? How messed up is that?

Platapus · 11-05-10, 04:14 PM

Well not necessarily gone. Film studios have declared bankruptcy before and still made movies.

krashkart · 11-05-10, 04:36 PM

Quote:

1*
Number of MGM movies among the top 100 movies of 2010, ranked by dollar value of tickets sold, according to Box Office Mojo. Time Warner’s Warner Brothers has 18 movies on the top-100 list.

(* Yes, it’s “Hot Tub Time Machine,” at #50. with a U.S. box office take of about $50 million.)

Why bother paying to see it in a theater? After it premieres on TBS I'll be able to watch it free of charge for three months straight.

Edit: I avoid TBS for that express reason.

Platapus · 11-05-10, 04:45 PM

Quote:

Originally Posted by TarJak

That's the part about Chapter 11 I don't get. Over here if you go bust your assets get sold and your creditors are paid whatever there is left and you don't get to keep on trading.

There are also restrictions on business ownership and directorship if you personally are declared bankrupt.

From what I can tell the law in the US protects the dodgy companies more than the companies that are their creditors? How messed up is that?

Quote:

The business of America is Business.

Calvin Coolidge.

But it should be understood that under Chapter 11, the creditors don't necessarily lose their money. If the Chapter 11 reorganization is successful, the creditors will get their money unless they choose to settle short.

The problem is that many Chapter 11's turn into Chapter 7 where the creditors do lose. Some have complained that Chapter 11 only gives the company's owners time to siphon off assets before the creditors can get a hold of them. A cynical attitude that is not necessarily untrue.

11-05-10, 02:43 AM	#1
TarJak Fleet Admiral Join Date: Jul 2006 Location: Sydney, Australia Posts: 17,052 Downloads: 150 Uploads: 8	MGM files for bankruptcy http://www.smh.com.au/entertainment/...ml?autostart=1 Last edited by TarJak; 11-05-10 at 02:43 AM. Reason: Change of title to become grammatically correct.

11-05-10, 07:18 AM	#3
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,473 Downloads: 63 Uploads: 13	Should have moved into the porn movie business when they had the chance __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

11-05-10, 07:33 AM	#4
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,602 Downloads: 10 Uploads: 0	That was coming since long. __________________ If you feel nuts, consult an expert.

11-05-10, 11:56 AM	#7
ETR3(SS) Ocean Warrior Join Date: Dec 2007 Location: Between test depth and periscope depth Posts: 3,021 Downloads: 175 Uploads: 16	Well when you make movies that are pretty much one explosion after another without having a good solid plot, people might get tired of your movies. __________________ USS Kentucky SSBN 737 (G) Comms Div 2003-2006 Qualified 19 November 03 Yes I was really on a submarine.

11-05-10, 12:06 PM	#9
FIREWALL Eternal Patrol Join Date: Mar 2006 Location: CATALINA IS. SO . CAL USA Posts: 10,108 Downloads: 511 Uploads: 0	So What. They get to stiff who they owe money to and, doors are open and business as usual come monday. __________________ RIP FIREWALL I Play GWX. Silent Hunter Who ???

11-05-10, 05:21 AM	#2
the_tyrant Admiral Join Date: Jun 2010 Location: Canada Posts: 2,272 Downloads: 58 Uploads: 0	well, we still have james bond

11-05-10, 07:42 AM	#5
Kapitan_Phillips Silent Hunter Join Date: Jul 2005 Location: Swansea Posts: 3,903 Downloads: 204 Uploads: 0	Even though the "Blood Stone" Bond film was cancelled, the game still came out. I've played it, and its definately worth a look! __________________ Well, here's another nice mess you've gotten me into.

11-05-10, 08:48 AM	#6
Penguin Ocean Warrior Join Date: Mar 2010 Location: Rheinische Republik Posts: 3,322 Downloads: 92 Uploads: 0	RIP leo! The good flics in the past few years were prodced by Weinstein anyway, seems MGM went down like the dinoaur it was. More shocking news: the remake of "Red Dawn" could become the next "Duke Nukem Forever": http://www.slashfilm.com/2010/06/10/...-indefinitely/

11-05-10, 03:04 PM	#10
Platapus Fleet Admiral Join Date: Oct 2006 Posts: 19,360 Downloads: 63 Uploads: 0	http://blogs.wsj.com/deals/2010/11/0...gm-bankruptcy/ __________________ abusus non tollit usum - A right should NOT be withheld from people on the basis that some tend to abuse that right.

11-05-10, 04:07 PM	#11
Diopos Ace of the Deep Join Date: Jul 2008 Location: Athens, the original one. Posts: 1,226 Downloads: 9 Uploads: 0	“Gone with the Wind” Literally! . __________________ - Oh God! They're all over the place! CRASH DIVE!!! - Ehm... we can't honey. We're in the car right now. - What?... er right... Doesn't matter! We'll give it a try anyway!

11-05-10, 04:14 PM	#13
Platapus Fleet Admiral Join Date: Oct 2006 Posts: 19,360 Downloads: 63 Uploads: 0	Well not necessarily gone. Film studios have declared bankruptcy before and still made movies. __________________ abusus non tollit usum - A right should NOT be withheld from people on the basis that some tend to abuse that right.