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SAAB caught in the state of limbo

Posted by Andrey Malskiy Categories: Corporate News, Transportation,

SAAB new Jersey Car Port

It’s been roughly three or so months since SAAB filed for bankruptcy. In addition, Saab Cars North America shut its dealerships down, forcibly. With the bankruptcy, many cars were left in limbo, caught between sale and repossession, we suppose. Though we’re not all entirely sure as to how the legalities work in this case, all we know is that there more than 900 SAAB vehicles on the Jersey Coast.

Though we've never been SAAB fans, it's saddening to see these cars left and exposed to the Jersey grossness. The sobering part of this is that these are the last of the SAABs to hit US soil, or that of which were produced. In any means, fan or not, these cars deserve a proper farewell or a home at best. On second thought, anyone down to go to Jersey and rescue a few SAABs? Follow the jump to see more pictures. 

Click to continue reading SAAB caught in the state of limbo

Read More | Found Our Own Road


DISH Network to buy BlockBuster for $228 million

Dish buys BlockbusterIn a somewhat surprising move, DISH Network said Wednesday that the company had been selected as the winning bidder in BlockBuster's bankruptcy auction, and will acquire BlockBuster's assets for about $228 million after various cost adjustments.

The total bid was $320 million, DISH said. The acquisition is expected to be completed during the second quarter, the companies said, if the bankruptcy court approves the deal.

DISH, a satellite provider, didn't say why it wanted to acquire BlockBuster, with 1,700 physical stores and a streaming service on top of it. But DISH has recently made moves to acquire licenses to content, enhancing its video-on-demand services with a deal with EPIX on Tuesday to bring its movies to DISH's online service, DISHOnline. DISH extended remote streaming to the iPad in December.

Adding a chain of stores and BlockBuster's existing relationships with content providers will help facilitate DISH's transformation into more of a provider of on-demand content than simply a "linear" provider of scheduled broadcasts.

Click to continue reading DISH Network to buy BlockBuster for $228 million

Items Du Jour: Siriano Designs Sponges and Beyonce’s New Look

Beyonce behind the scenes of her new music video-- Freelance model/photographer/retoucher Felice Fawn defends and provides proof of her Facebook conversation with Terry Richardson, which (not surprisingly) perpetuated his sleazy image. A fan of his work, Fawn is still holding out that the person who messaged her was a fraud.

-- American Apparel is supposedly even closer to filing bankruptcy.

-- Male model Eric Zentner -- who appeared in Versace ads, Teen Vogue editorials, and a Katy Perry music video -- was killed in a hit and run accident while he was en route to visit his mother last Saturday. Police are still searching for the suspect.

-- Beyonce was spotted on the set of her latest music video, which features the first single off her new album. In the photos, she wears Roberto Cavalli Pre-Spring 2011 and Fall/Winter 2011. Like her gal pal Gaga, she seems to have again reinvented her look.

Click to continue reading Items Du Jour: Siriano Designs Sponges and Beyonce’s New Look

Bye-Bye Borders, It’s Been Fun

Posted by Tom Mason Categories: Editorials,

Too Much Coffee Man

Now that Borders has jumped headlong into bankruptcy, it's revealed that they're deep into Diamond Comic Distributors for $3.9 Million. They also owe Penguin Books $41 Million.

As part of the bankruptcy, Borders will be closing something like 200 of their stores.

I already get my books from Amazon, but with my local Borders closing, where the heck am I going to get my coffee?

[Artwork: Too Much Coffee Man © Shannon Wheeler]

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

Spencer and Heidi: Separating the Fact From the Reality

Posted by K.C. Morgan Categories: Television, Break-ups, Divorce, Rumors,

Heidi Montag and Spencer Pratt reconciled quickly after filing for divorce last summer, and now they’ve finally admitted it was all a hoax. The two former MTV reality stars recently revealed their motivations to Life & Style magazine.

According to the magazine, the duo spent the $10 million they earned while starring on The Hills, and now they’re on the verge of filing for bankruptcy.

“After they found out The Hills would not be renewed earlier this year, Heidi and Spencer concocted a plan to get attention by divorcing shortly after their anniversary. The reality duo tell Life & Style there was interest in a series covering their split from British TV network ITV, so they splashed down cash to move their act to Costa Rica. But that deal fell through and soon after, they called off the divorce proceedings and reunited.”

"Divorcing was the only way to keep Heidi's career going because everyone hated me so much. Look at Sandra Bullock -- her divorce from Jesse James was the best thing to happen to her image,” Spencer Pratt illogically explained to the magazine. “Who wants to hire the jerk from The Hills?”

Now, there’s a $10 million question.

Read More | The Huffington Post

Celebrity Chatter: Toni Braxton’s Bankruptcy Filing, Max Weinberg’s Medical Condition

Posted by Veronica Santiago Categories: Music, Television, Legal Issues,

Toni Braxton-Former Dancing with the Stars contestant Toni Braxton has filed for Chapter 7 bankruptcy ... again. The Grammy award-winning singer is reportedly between $10-$50 million in debt.

-Actor Larry Wilcox is under investigation by the Securities and Exchange Commission. The 63-year-old former CHiPs star was charged by the SEC with securities fraud on Thursday.

-Kelsey Grammer and girlfriend Kayte Walsh have just announced the loss of their unborn child. Grammer, who is in the middle of a divorce from his wife of 13 years, revealed the pregnancy back in August.

-Drummer Max Weinberg says a medical issue played a role in his decision not to join Conan O’Brien on his new TBS show. The 59-year-old had valve repair surgery on his heart back in February.

Cinema Scene: Sing-Along Beauty and the Beast; Live-Action Mulan

Beauty and the Beast-A sing-along version of Beauty and the Beast will be coming to theaters at the end of the month. The animated film will be available in limited release on September 29 and October 2.

-Speaking of old Disney films, Zhang Ziyi will star in a live-action version of Mulan. The English-language project will be directed by Speed‘s Jan de Bont and produced by an independent studio.

-Blockbuster has filed for Chapter 11 bankruptcy protection. The video chain – which has nearly approximately $1 billion in debt – will be preparing to close another 800 stores.

-Ed Zwick’s Love and Other Drugs, starring Anne Hathaway and Jake Gyllenhaal, has been chosen to open AFI Fest 2010 in November. Black Swan will close the festival.

Blockbuster files for bankruptcy

Blockbuster bankruptcyWhat’s the easiest way for a behemoth of a company, like , that seemingly owns its market segment to die? Being unwilling to change with the times. Note, I said unwilling, not unable. With the amount of money that Blockbuster was bringing in during the VHS-to-DVD transition, you’d think that they’d have better planned for the future—especially when Netflix arrived on the scene 13 years ago. Instead, the company was too brash and egotistical to realize that their business model would be in need of a major overhaul, and now they are paying for it. Today Blockbuster filed for bankruptcy. At this point, they don’t plan to shut down any stores or anything…but hey, Hollywood Video went bankrupt this past February, and a few months later, they shuttered operations completely. Just looking at what Blockbuster currently offers by way of online on-demand viewing, we wouldn’t be surprised (although we’d be saddened) if they were gone within 24 months.

What do you think? Any Blockbuster die-hards still around out there?

Read More | Ars

Christian Lacroix Now Designs Jets

Posted by Andru Edwards Categories: Fashion Designers, News, Rumors, Sales,

Christian LacroixFrom one runway to another, Christian Lacroix is set to design private jets.

The French designer, who filed for bankruptcy earlier this year, is in talks with Sheikh Hassan bin Ali al-Nuaimi—the nephew of United Arab Emirates ruler Ajman—about investing $70 million in the company. Al-Nuaimi wants to become the majority stakeholder and despite the current global economic downturn, the sheikh has bold plans for the brand. He is keen to transform the fashion label into a luxury lifestyle brand with a range of products including lavish palaces, planes and hotels.

Al-Nuaimi said, “The idea is not to focus on fashion by itself. We are discussing different activities in leisure… private jets, hotels, high-quality yachts, palaces, and interior decoration. We will focus on very exclusive areas and don’t want to sell his name cheap in the market.”

Lacroix, who counts Christina Aguilera among his celebrity fans, will need approval from a French court before the deal goes ahead. A decision is set to be made by the end of the month.