...Crap

Its semi official. Rhythm & Hues will be filing for Chapter 11. So much for that $21 million infusion from other studios. I can only say that I feel those artists pain. Being told not to show up next week and then having your paycheck held indefinitely? I can only imagine. (Having had a certain studio slowly pay me up to a year after I had stopped working for them seems like a piece of cake compared to this)

So what happens now? What should happen is an investigation. I'm sorry, but any time a large company files for Bankruptcy, this should happen. Cause a problem like this just doesn't happen over night. Its something that has been an issue for several months or maybe years. How did we get to this point? Every company should want to know. And I know bankruptcy seems like an easy answer, but its way too easy these days to file for it. Cause when you file bankruptcy, your obligation to pay your staff, or anyone you owed money to, goes out some window. Everyone else is kinda screwed. (Okay, so I really know very little about Bankruptcy, any chapter for that matter, but from what I believe to be true, I think the information above is correct)

http://www.deadline.com/2013/02/oscar-nominated-vfx-rhythm-and-hues-filing-bankruptcy/

http://en.wikipedia.org/wiki/Chapter_11,_Title_11,_United_States_Code

http://www.deadline.com/2011/05/visual-effects-society-exec-director-eric-roth-slams-movie-industry-for-terrible-treatment/

...So what is going on with all these large studios?

Not so long ago, a company called Digital Domain closed its doors. Well, they defaulted on a $35 million dollar loan, filed for Chapter 11 bankruptcy, and were put on the auction block. Now another large studio seems to be in a jam. Rhythm & Hues has been a staple in the industry for a long time. I'd list all their films and projects, but that would be a very long list (http://www.rhythm.com/home/). One of their most recent films is Life of Pi. It did well, won a bunch of awards, and everyone is still talking about it. 
So what happened? This studio that has been producing good work for the past 20+ years is facing financial difficulty? Why? How? I'm finding it difficult to comprehend how large, solid studios are getting their financial asses handed to them. 
The economy sucks. I get it. But anyone who doesn't plan for fuck ups and financial hardship isn't planning well. People should do this on an individual basis, which is kinda another post now that I think of it. But I feel like that's part of what should be in a business plan. Plan for profit...but also plan for hardship. Right? (I have not taken any business class or majored in finance or anything like that. I'm just using my own logic at this point. If I'm wrong, let me know. Okay? Thanks!)
So, again, what the frak happened?!

I found the following links interesting and thought I'd share....

http://www.thewrap.com/movies/blog-post/rhythm-hues-we-could-be-going-frying-pan-fire-76326

http://www.awn.com/news/visual-effects/rhythm-hues-gets-20m-studio-infusion

http://www.variety.com/article/VR1118065654/

Website and Stuff

Was working on my website today. Ran into a problem. I'll figure it out eventually, but I feel like I made a silly mistake. Like putting down the wrong path name. Everything works, except my reel doesn't show up. I'll investigate tomorrow. Done worrying about my site for toady.
Working on a new character and story. Not sure where its going yet, but he's a wonky little guy. I'll be posting sketches of him later this week or next week. It is Valentine's weekend and all.