Posts tagged debt
Do Not Remake "Dirty Dancing"
Aug 17th
I am a huge fan of the movie “Dirty Dancing.” I along with over 14,000 people on Facebook are sad and or mad that Lionsgate has decided to do a remake of “Dirty Dancing.”
Obama to lay out his deficit strategy
Apr 13th
President Barack Obama enters politically tricky territory Wednesday when he outlines his plan for reducing long-term deficits and the national debt amid a climate of tense budget negotiations.
Continued here: Obama to lay out his deficit strategy
Conservatives’ clout flummoxes House GOP leaders (AP)
Feb 11th
AP – The clout of tea party advocates and other hard-line conservatives in Congress has caught top Republicans by surprise, raising questions about whether GOP leaders can impose enough discipline in their House majority to pass tough measures, such as raising the debt ceiling.
Go here to read the rest: Conservatives’ clout flummoxes House GOP leaders
(AP)
Plastic Logic receives massive $700 million Russian investment
Jan 18th
Who can forget the Plastic Logic Que proReader — a textbook study on the vaporous gadget. Start with an incredible (but truthful) claim to have developed plastic semiconductors that could be used to fabricate flexible e-reader displays. Then follow up the breakthrough with the all-important consumer tease: an amazing (for the time) 8.5 x 11-inch e-reader with a gesture-based UI that would launch in the first half of 2009. Unfortunately, the Que never shipped and was ultimately canceled, partly because of
reliability issues associated with manufacturing those early Que displays and partly because of the launch of a rather disruptive Apple tablet you might have read about. Fast forward to today and we’ve got the state-owned Russian Corporation of Nanotechnologies (Rusnano) announcing a $700 million investment in the US-based Plastic Logic Inc. Why? Are you listening? Plastics. Here’s how this “unprecedented” investment was described by Georgy Kolpachev, Rusnano’s managing director:
“Flexible plastic electronic displays will provide another major milestone in how people process information. Entering this new disruptive segment at the stage of its inception gives Russia a chance to win a leading position in global market of future electronics.”
The investment will be used to pay off Plastic Logic’s debt including a $50 million loan the company took out after approaching financial collapse. The rest will be used for a second plastic electronics factory in Russia (a sister to the Dresden Germany plant) which is expected to start production in 2013 or 2014.
Plastic Logic receives massive $700 million Russian investment originally appeared on Engadget on Tue, 18 Jan 2011 04:26:00 EDT. Please see our terms for use of feeds.
3 Reasons to Pay Off Your Mortgage Before Retirement (U.S. News & World Report)
Jan 8th
U.S. News & World Report – I periodically hear folks push back against the advice that retiring with a financed home or vehicle is a bad idea. The typical counter-argument to the concept of retiring debt free is that money is cheap now, with low mortgage interest rates and 0 percent financing on new vehicle purchases. Thus, the logic goes, it makes sense to take that low-interest loan so that you can keep your retirement money invested. While some of the math relied on by the debt proponents may be correct, here are three reasons owning still beats financing for most retirees.
View original post here: 3 Reasons to Pay Off Your Mortgage Before Retirement
(U.S. News & World Report)
SatPhones — Why Can’t They Make It Work?
Dec 14th
RedEaredSlider writes “Satellite phones aren’t as clunky as they once were, and technology has made them more powerful. Gone are the days when satellite phones had to be accompanied by a suitcase. Yet to date, the field is littered with bold attempts at a phone that could be used anywhere, without depending on earthbound cell phone networks. Billions have been invested, with relatively little to show for it. Part of the answer is debt. TerreStar is only the latest casualty of a crushing $1.2 billion debt load. The company introduced its Genus phone last month, but is in the middle of Chapter 11 proceedings. It’s unclear that the phone will sell enough to help TerreStar stay in business, especially when it carries a $799 price tag.”
Read more of this story at Slashdot.
Excerpt from: SatPhones — Why Can’t They Make It Work?
Bank of America faces massive lawsuit over mortgage debt (AFP)
Oct 20th
AFP – A group of institutional investment firms including the New York Federal Reserve is suing Bank of America for failing to pay back debt on failing mortgage bonds, the group’s lawyer said on Tuesday.
See the rest here: Bank of America faces massive lawsuit over mortgage debt
(AFP)
Crystal Cathedral megachurch files for bankruptcy (AP)
Oct 20th
AP – Crystal Cathedral, the megachurch birthplace of the televangelist show “Hour of Power,” has filed for bankruptcy in Southern California after struggling to emerge from debt that exceeds $43 million.
Continue reading here: Crystal Cathedral megachurch files for bankruptcy
(AP)
Student-Loan Slaves: Consumerist Explains Your Predicament
Sep 4th
Solely in the public interest – and not at all because I’m personally burdened with a ridiculous debt now several times larger than the amount I borrowed when
SCO Assets Going To October Auction
Sep 2nd
An anonymous reader noted that the SCO Group is having a bankruptcy auction in October. The article says ‘After bankruptcy in September 2007, SCO and an affiliate filed schedules listing combined assets of $14.2 million and debt totaling $5.2 million.’ I wonder if we could all chip in and buy something as a sort of ‘Thanks for being a pimple on the face of humanity’ present.
Read more of this story at Slashdot.
Go here to read the rest: SCO Assets Going To October Auction
SouthPeak gets $10 million loan while losing biggest moneymaker
Jul 19th
Outside of looming legal battles and down year-over-year revenues, SouthPeak recently received a $10 million “asset-based line of credit” that extends until February 28, 2012, reports IndustryGamers, effectively replacing an $8 million line of credit previously secured. We’re not quite sure what debtors will have to take from SouthPeak should the publisher not be able to repay the $10 million, though, as Majesco Entertainment apparently scooped up SP’s biggest franchise in mid June, My Baby.
For what it’s worth, SouthPeak chairman Terry Phillips said of the credit, “Securing this additional credit provides us with greater financial flexibility and presents a clear message to our investors that we are confident of our business prospects and growth opportunities over the near- and long-term.” Here’s hoping that Two Worlds 2 and Battle vs. Chess are enough to help the company get its feet back on the ground in the coming year.
SouthPeak gets $10 million loan while losing biggest moneymaker originally appeared on Joystiq on Sun, 18 Jul 2010 19:30:00 EST. Please see our terms for use of feeds.
Debt commission leaders paint gloomy picture (AP)
Jul 12th
AP – The heads of President Barack Obama’s national debt commission painted a gloomy picture Sunday as the United States struggles to get its spending under control.
Here is the original post: Debt commission leaders paint gloomy picture
(AP)
Blockbuster avoids bankruptcy for now, but not NYSE delisting
Jul 5th
Things stateside haven’t gone the way of Blockbuster Portugal (yet) but while the Blockbuster was able to make arrangements with creditors and avoid bankruptcy this week, it will be forced to delist from the New York Stock Exchange after a proposed reverse stock split fell through. Even the extension on debt payments it was able to negotiate hasn’t satisfied analysts, with our old friend Michael Pachter telling Reuters “there’s nothing on the horizon that makes it look like Blockbuster is going to be more profitable.” Ouch. A substantial amount of debt has long been a problem for Blockbuster as it tries to adjust to a changing marketplace with Redbox and Netflix, and with shares trading at .18, has now made its existence more precarious than ever.
Blockbuster avoids bankruptcy for now, but not NYSE delisting originally appeared on Engadget on Sat, 03 Jul 2010 22:44:00 EDT. Please see our terms for use of feeds.