Treasury Secretary Says Federal Bailout Funds Won’t Be Used For Detroit The federal government has made it clear that they have no intention of extending a monetary olive branch to the state of Detroit in the midst of their bankruptcy woes. Despite the fact that the government famously bailed out the “Too Big To Fail” banks and the auto industry during the height of the most recent U.S. recession back in 2010, Treasury Secretary Jack Lew says Detroit is on their own this time. Think Progress On CNN’s State of the Union show on Sunday, Treasury Secretary Jack Lew was firm in saying that there will be no federal bailout for the city of Detroit, which is going through the largest city bankruptcy in America’s history. While claiming that the administration “stand[s] by Detroit,” Lew said, “I think the issues Detroit has in terms of problems with its creditors it’s going to have to work out with its creditors.” He said that it has “serious financial problems” that have “been a long time in the making,” and that the federal government will only offer “the kinds of normal programs the federal government has” such as the Treasury Department making funds available to take down blighted properties. When host Candy Crowley asked why the government offered bailouts for big banks and the auto industry but isn’t offering one here, Lew responded, “I think the situation we had in 2009 and 2010 was unique and something that hopefully we will never see again.” We think this is pretty shady, especially considering the fact that the government all but forced-fed some of the banks bailout money during the financial crisis/recession when they adamantly refused. It will also be interesting to see exactly what these “federal programs already in place” to assist Detroit consist of. What’s your take on this, Bossip fam? Continue reading →
Damn Toni, you broke and you lost your songs. Toni Braxton Loses Songs In Bankruptcy Maybe Toni can ask Tamar to borrow some money to buy her songs back since she has all the scrilla now. According to TMZ Toni Braxton may still have a song in her heart after filing for bankruptcy, but she just lost more than 2 dozen tunes that made her famous — because some dude bought them right out from under her … TMZ has learned. TMZ broke the story … Braxton struck a deal in her bankruptcy case, in which she settled with her various debtors. Part of the deal — Toni could buy back 27 songs from her music catalog for $20K — with one BIG string attached … she could be outbid. Enter a guy named Ross M. Klein, who doubled Toni’s price and nabbed the tunes. Among the 27 are a few hits, including “You’re Making Me High,” “How Many Ways,” and “Always.” “Un-Break My Heart” is not among the 27, and we don’t know its fate … although it looks like it’s still hers. Oh well. She still can sing the isht out of a song. Do better Toni.
The act of breastfeeding in public is frequently debated in parenting circles, and seemingly more often than not, leads to criticism for the mothers involved. Not this time. Thanks to a generous waitress, Jackie Johnson-Smith recently had the exact opposite experience in an Iowa pizza parlor. Take a look at her receipt: How did this come about? Johnson-Smith shared her story on Facebook: “I have breastfed three children. I have breastfed them in countless of places both pleasant and unpleasant, discreetly and out in the open.” “I have gotten many looks and stares, but tonight erases any negativity I have ever received. I ate at Fongs for the first time tonight.” “Having a fussy baby I nursed him for awhile in the booth and eventually left the table early as to not disrupt the restaurant.” “The waitress gave this receipt to my husband. I was speechless and emotional.” “Although I don’t need a pat on the back for feeding my child, it felt amazing how we women can make each other feel when we empower each other.” So who was the woman behind the gesture? According to KCCI 8 News in Des Moines, Bodi Kinney is the waitress who wrote the note on her bill. “We need to come together and support each other when it comes to nursing our children,” Kinney told the news station in an interview. Others clearly agree. This comes on the heels of Hollie McNish ‘s incredible defense of breastfeeding in public that went viral this month. What do you think: Should moms breastfeed in public? Of course! It’s totally natural! And besides, baby’s gotta eat! No way! That’s gross. She can do that somewhere else. View Poll »
Detroit is bankrupt. As in out of money. The major American city’s well-documented financial problems have apparently worsened beyond anyone’s expectations. Once emblematic of industrial clout, Detroit became the biggest U.S. city to file for bankruptcy today, its finances ravaged by years of decline. The bankruptcy filing, which had been feared for months, leaves Detroit’s future on an uncertain course, to say the least, in the years ahead. Officials say that laying off municipal employees, selling off assets, raising fees and scaling back basic services are all possibilities going forward. They felt this was their only way to move forward at all, however. “Only one feasible path offers a way out,” Gov. Rick Snyder said. Kevyn Orr, a bankruptcy expert hired by the state to stop Detroit’s fiscal free-fall, filed under Chapter 9, the bankruptcy system for cities and counties. Orr said Detroit would continue paying its bills and employees. The city’s woes have piled up for generations. In the 1950s, its population grew to 1.8 million people, many lured by plentiful, well-paying auto jobs. But like many cities, Detroit declined along with the industry, and as developers starting building suburbs. Today, the population hovers around 700,000. Orr was unable to persuade creditors, unions and pension boards to take pennies on the dollar to help with the city’s massive financial restructuring. Orr said he “bent over backward” to work with creditors, rejecting criticism that he was too rigid. “Anybody who takes that position just hasn’t been listening.” While its outcome is uncertain, the bankruptcy could last through summer or fall 2014, which coincides with the end of Orr’s 18-month appointment. Snyder determined earlier this year that Detroit was in a financial emergency comprising a “never-ending cycle” without a plan for improvement. “The citizens need and deserve a clear road out,” he said. “The city’s creditors and public servants, deserve to know what promises the city can and will keep.” “The only way to do those things is to radically restructure the city and allow it to reinvent itself without the burden of impossible obligations.” No matter what, at least they’re not simply giving up … Family Guy Clip: Detroit Gives Up
To quote Lebron James…”It’s about damn time!” Toni Braxton Pays $150,000 To Get Out Of Bankruptcu According to TMZ reports : It seems like Toni Braxton has been in bankruptcy forever, but TMZ has learned she has finally settled her Chapter 7 blues … and it cost her $150,000 to wipe the slate clean. As TMZ first reported, Braxton filed for bankruptcy (for the second time) back in 2010, claiming debts as high as $50,000,000. Yikes. According to docs filed in the bankruptcy, Braxton made a deal with the trustee to buy back some of the personal property she lost. The deal was for Braxton to pay $5,000/month for 15 months with the last payment being $50,000. Braxton made all the payments … except for that last one. The other part of the case hanging over Braxton’s head was the issue of $754,000 Braxton made for overseas performances. The shows took place AFTER Braxton filed for bankruptcy, so she argued that she was legally entitled to keep the money earned from these performances. However, the trustee argued since Braxton was technically paid before the Chapter 7 filing (the money was put in escrow before the shows, she didn’t get it til after) she should have to fork it over. The trustee and Braxton finally came to an agreement this week — Braxton agreed to pay the $50,000 she owed for the property and $100,000 from the performances. Lastly … Braxton and the trustee came to an agreement that she could buy back the copyright on a slew of her songs for a cool $20,000. They go to auction on July 15 and they’re hers, assuming she doesn’t get outbid. Image via WENN
Selena Gomez has made no secret that Taylor Swift is one of her very best friends. Now, according to a new report, the artist may be taking a page from her BFF… which could mean BIG trouble for Justin Bieber. “Justin was so mean to Selena that she can’t wait to spill all the sh-t about him in her new songs,” an insider tells Hollywood Life. “All his flirting and all his bullsh-t are on the table.” Selena and Justin split right before New Year’s, after an argument in Mexico resulted in the stars flying back to Los Angeles separately. Bieber, of course, has mostly enjoyed a sterling reputation in the eyes of fans, but various recent stories have called that into question; led, of course, by the Justin Bieber smoking pot incident.” Concludes this Selena source of what the public may soon hear: “Her fans will be shocked about how much of a badass she can be when she’s out for revenge.”
Casey Anthony filed for bankruptcy Friday. In 2011, Anthony was found not guilty of murdering her two year-old daughter in a trial that riveted the country. Not surprisingly, the trial left her nearly broke. Responding to the bankruptcy filing, the attorney representing Zenaida Gonzalez in her defamation case against Anthony called it a mere delay tactic. “We are not deterred and will stay the course,” said Matt Morgan of Anthony’s Chapter 7 Bankruptcy, which reveals $1,084 in personal property. Compared to $792,119.23 in liabilities. That’s a lot of debt, and sure enough, Casey Anthony provided a list of nearly 100 people and companies who have claims or possible claims against her. They include her former attorney Jose Baez for $500,000, the IRS in the amount of $68,540 and the Orange County (FL) Sheriff’s Office for $145,660.21. Even her own parents are listed, albeit without an amount. “This is the next step towards closure for me,” Anthony told CBS affiliate KPHO. “These are the things holding me back. This is the key for me to move forward.” Charles Greene, the civil attorney defending Anthony in the Gonzalez lawsuit, told the station “Casey hoped the case would be over in January.” “This has been a battle for five years. Emotionally and physically, she can’t go on for another year. She needs a clean slate from a financial perspective.” The goal of the bankruptcy is to give Casey a fresh start financially, said Greene, who added that his client has no financial windfall projects pending. “There are no contracts, no movie or book deals,” he said.
Peter Jackson and Steven Spielberg will switch roles in the follow-up to last year’s Tintin . Also in Friday’s round-up of news, Lincoln crossed the $100 million mark in the U.S.; The Who is heading to the big screen; Dylan McDermott is headed to a Stephen King pic; and a look at some of the weekend’s new Specialty Release newcomers. Peter Jackson Plans Tintin 2 for 2015 Jackson will begin work on a sequel to last year’s feature version of Tintin before he completes his current Hobbit trilogy. Jackson told reporters in Belgium that he would work on the follow up to The Adventures of Tintin: Secret of the Unicorn next year. The first Tintin film was directed by Steven Spielberg with Jackson as producer; Spielberg revealed in February that the Oscar-winning pair would swap roles for its sequel, The Guardian reports . Lincoln Crosses $100 Million Domestically Thirty-four days after its initial limited release in 11 theaters, Steve Spielberg’s Lincoln crossed the $100 million mark. The feature, starring Daniel Day-Lewis received seven Golden Globe nominations Thursday. The Who Pic Heads to the Big Screen Actor Cary Elwes will direct the story of the life and death of Kit Lambert, the rock impresario and manager of The Who, with production set for late spring 2013. Lambert discovered The Who, ironically, when he was trying to make a film about a band, THR reports . Dylan McDermott Boards Mercy McDermott has joined the fantasy horror project based on a Stephen King story from the author’s Skeleton Crew series. Frances O’Connor, Chandler Riggs and Joel Courtney are also starring with Peter Cornwell directing, Deadline reports . Weekend Specialty Preview: Any Day Now , Yelling to the Sky , Save the Date , Let Fury Have the Hour A slew of indie actors have movies opening in the specialty arena this weekend.Alan Cumming has won festival raves for his role in Any Day Now . Zoë Kravitz and Gabourey Sidibe star in Yelling to the Sky , Deadline reports .
What is thought to be the world’s most valuable movie poster along with eight others sold to a film memorabilia collector for $1.2 million. The Metropolis poster by German Expressionist Heinz Schulz-Neudamm was purchased as part of a lot in a Los Angeles bankruptcy court Thursday. Schulz-Neudamm created the poster in 1927 for the German Expressionist science-fiction film of the same title by Fritz Lang. New Jersey resident Ralph DeLuca, who owns film memorabilia company Movie Archives Inc., won the bidding over three other bidders, Reuters reports . Bidding for the poster started at $700,000. “I honestly feel that the ‘Metropolis’ poster is worth more than the whole lot,” DeLuca told Reuters. A collector bought the futuristic poster for a record $690,000 back in 2005, which had been a record. Some speculated when it was filed with the bankruptcy court last summer that it c ould fetch as much as $1 million . “I think I’ll keep the poster unless I get overwhelmed with a ‘Guinness Book of Records’ offer,” said DeLuca. “I believe it will be the first to go past $1 million and even hit $2 million.” Schulz-Neudamm’s painting of the artificial woman, or the Robot, is used by a mad scientist to seduce an race of workers in a totalitarian futuristic urban city. Made in Germany during the Weimar Period, Metropolis is set in the year 2026 in a dystopian society in which a wealthy elite rules from vast tower complexes, oppressing the workers who live in the depths below. The silent film was written by Lang and his wife Thea Von Harbou, and starred Brigitte Helm, Gustav Fröhlich, Alfred Abel and Rudolf Klein-Rogge. In 2008, a print of Lang’s original cut of the film was found in Argentina. [ Source: Reuters ]