Word: crediteers
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Having trouble getting credit in these trying economic times? Don't feel bad, so is Steven Spielberg. His DreamWorks SKG is waiting for a $500-million deal with Indian entertainment conglomerate Reliance to close. It would allow the company behind movies like Tropic Thunder and Transformers to abandon an unhappy partnership with Viacom's Paramount Pictures and produce six films a year at another studio. The hitch keeping DreamWorks and Reliance from sealing the deal is the challenge of raising an additional several hundred million dollars in debt financing at a time when Wall Street is feeling pretty stingy about...
...Monday's Chapter 11 filing by Lehman Brothers and the bailout of Merrill Lynch by Bank of America have only added to a yearlong credit crunch that is changing the way film financing deals are structured in Hollywood. Not unlike homebuyers facing tougher standards to get a mortgage, the people who greenlight movies are facing more stringent demands from their financiers. "All of the studios, if they want to get a deal done in this environment, will need to better align their interests with investors," says P. John Burke, a film finance lawyer at the firm Akin, Gump, Strauss, Hauer...
...even as the business grew and migrated from banks to firms like Bear Stearns and AIG, is a big reason why the world's financial markets are in such crisis this week. Bear and AIG were bailed out in part because they were big players in the market for credit default swaps, derivatives that are meant to insure against loans gone bad. Regulators have such an unclear picture of who's on the hook to whom in this market that they feared the collapse of either firm would spark a chain reaction of defaults, and investors are so panicked...
...your recent issue featuring Obama, he is portrayed as an all-around person fit for the job of being the next President of the United States. Your articles on McCain were anything but that. He does not get credit for anything that he has accomplished. While I understand there is freedom of the press, there still needs to be freedom of choice. Rivky Levy, BROOKLYN...
...location has allowed the OIP to hire several more staff members to accommodate the College’s rising participation in international programs. The number of Harvard students studying abroad for degree credit increased from 160 in 2001-02 to 640 in 2007-08, according to the press release. OIP staff said that about 300 students attended an open house in the new location on Friday and that many of those were freshmen...