Word: cinecolor
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Dates: during 1946-1946
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...company, Technicolor Inc., had produced it successfully for the movies. Now Technicolor had a virtual monopoly of A pictures. This fact did not discourage Loss. Technicolor was booked solid (about 30 feature pictures a year, plus shorts), and it was turning business away. There seemed to be room for Cinecolor...
Hollywood warned Loss that Cinecolor was a bad risk. The company was on the verge of bankruptcy; it had no big clients and "a 15-year record of mistakes." But it also had some assets: 1) a couple of able technicians, Alan Gundelfinger and William Crespinel, who had founded the company in 1932; and 2) a process which could produce "rushes" (unedited film) in color film 24 hours after it was taken and at a cost of only 20 to 25% more than black & white film. Moreover, the movies could be taken with ordinary film cameras and with black & white...
...Break with Bess. What Cinecolor needed most was money, management and the confidence of the movie industry that it could turn out the films it promised. Loss provided all three; first he raised $500,000, cleaned up debts of almost $100,000. Reorganized with Loss as vice president and general manager, Cinecolor's output of film was increased 250% in six months, chiefly for a dozen small-budget pictures (best-known: The Enchanted Forest...
Then came the big break. Loss persuaded Metro-Goldwyn-Mayer to make a $1 million horse opera called Gallant Bess in Cinecolor. Due for release this week, M-G-M expects it to be the "sleeper" (surprise hit) of the year. Result: Cinecolor is now booked solid until July 1947, expects to make its first profit this year, about $200,000 net. By the end of next year, Cinecolor expects to be printing 100 million feet of film a year, about half Technicolor's normal production. It also expects to turn out three-color films, with a new simplified...
Last week, Boss Loss saw a pretty sight when he looked at Cinecolor stock...