Wondering how a thriving city can go bankrupt? Reuters has a report on San Bernardino’s “decades-long journey from prosperous, middle-class community to bankrupt, crime-ridden, foreclosure-blighted basket case.” Read it and learn all about the incremental steps that inexorably pulled San Bernardino into the financial and experiential depths.
If you’re curious how “zombie studio” MGM went from having $5 billion dollars of debut (they only left bankruptcy last December) to riding high on a new credit line ($500 million, thanks to JPMorgan Chase), the Wrap has an interesting story up about it. Basically, Wall Street still gets gets hot and bothered for Hollywood. (Well, I suppose that’s a shallow and quick read on the matter, but I don’t mind.)
Of course, MGM should see some easy revenue over the next few years: They have a Bond movie scheduled for next year, which should bring in an easy $550 million from theaters alone. And beginning next year they plan to release seven or eight movies per year. The studio also hopes to have a Bond movie every other year, which is wishful thinking because at some point, Daniel Craig will move on, or they’ll have to retool after a particularly stupid installment, or one of the other usual shenanigans that happen to that franchise. I’m very curious what happens when the studio “again runs out of money,” as the Wrap puts it. MGM’s biggest assets are their library and Bond. You’ve got to think another studio would still love access to those.