I spotted this line from a recent consulting agreement: “to help the Group make a successful and profitable transition from so called ‘traditional media’ to new media technologies.” Wow! Looks like some company wants to offer streaming video or find a way to monetize online content. Or, since everyone wants to enter the social network space, maybe become the Facebook of [fill in the blank]. So, which “traditional media” company is this? Well, in their recent annual report, the company describes itself as the “leading international provider of high quality adult media content.” 🙂 New media technologies, eh?
The Cleveland Browns Football Co. LLC sued Telantis Group Corp. for not paying license fees pursuant to a private suite license agreement. $90,000 for a private suite, and that doesn’t even include the cost of game tickets!
This sub-prime quagmire is dragging a lot of companies down with it. One minute, you’re a creditor. The next minute, you’re a debtor. Voila! Does this remind anyone of 2000? First, the shaky internet companies fell. Yeah, those that are not around today. Then, the rest of the ecosystem got bludgeoned. Even the big guys.
Sure, some pundits are talking about segmentation in the real estate and how the sub-prime quagmire has hurt the entry-level real estate market while leaving the higher end market intact. Flight to quality? I don’t buy it. The real estate market is too interconnected and if home prices are out of reach for entry-level buyers, than those holding entry-level homes cannot turn around and sell them (at current prices) and upgrade to a nicer home or nicer neighborhood.
Anyways, I’ve added American Home Mortgage Investment Corp. contracts. They filed for bankruptcy protection earlier last month.