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MGM Bankrupt, But Bond Will Go On

MGM may have filed for bankruptcy earlier this week, but the 23rd James Bond movie will receive the financial support it needs. The studio announced that they’ve picked up a partner to foot the bill on Bond.

Daniel Craig, the current Bond, recently released a statement urging MGM to get their movie projects together, so he should be thrilled with this news.

Meanwhile, MGM is still shopping for a partner to pick up the bill on The Hobbit, which comes with a $265 million price tag.

Production for the next 007 film will start soon in order to get it ready for its November 2012 release date.

Read More | E! Online

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SpiralFrog Goes Under

Posted by Sheila Franklin Categories: Corporate News, Internet, Music,

RIPQuietly, SpiralFrog stopped croaking last Thursday. The company had been in trouble last year and issued secured notes to borrow about $9 million. Launched in August 2006, the site offered free downloads and featured advertising to pay for the privilege. It launched with Universal and took almost 2 years to add EMI. While the weak economy and having CEO changes may be part of the reason for the demise, it probably didn’t help that the files were DRM-protected.

Read More | cnet

Palm Sells Shares to Survive

Palm PreHow do you keep your company going in this evil recession? If you are Palm, you sell about 18 million shares of its stock. The proceeds will pay off $49 million in debts to Elevations Partners and the rest will go back to Palm, so that they can stay alive until the Pre is available in Q2. If you are considering the purchase of one, this might be a way to help the California company and get your own share of the phone.

Read More | MobileBurn

More Companies Predicted to Go Under This Year

Krispy KremeMoody’s Investors Service says that there may be 25 large company bankruptcies this year. Ratings from them and other sources came up with a list of those that are feeling the pinch. Sirius, Chrysler, Six Flags, Blockbuster, Rite Aid, and our beloved Krispy Kreme are all at risk of going under. Most of the companies have limited cash, large debts with huge interest payments and little chance of refinancing. While some of this may be inevitable, we suggest you go out and buy American. Treat your family or office to a dozen donuts or a trip to the amusement park.

Read More | Microblog Buzz

Coal Industry To Be Bankrupted

Posted by Sal Traina Categories: Editorials, US Economy,

It doesn’t matter that nearly 50% of our home electric comes from coal. The predicted winner of today’s Presidential Election, Democrat Barack Obama, wants to punish coal companies, and other industrial markets, with Cap and Trade. This will slow, or maybe even reverse economic progress in the United States. The predicted loser, Republican John McCain, also supports cap and trade, but not to the extent Obama does. Either way, cap and trade never worked.

Click to continue reading Coal Industry To Be Bankrupted


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