Macha Posted August 28, 2012 Share Posted August 28, 2012 (edited) http://mumbrella.com.au/fuel-vfx-goes-into-administration-112240 Not good. Where's all of this heading... Edited August 28, 2012 by Macha Quote Link to comment Share on other sites More sharing options...
digitallysane Posted August 28, 2012 Share Posted August 28, 2012 Where's all of this heading... To the consolidation inevitable in any mature marketplace. The golden age finished long time ago. Quote Link to comment Share on other sites More sharing options...
hopbin9 Posted August 28, 2012 Share Posted August 28, 2012 A very respectful way to handle their troubles. At least they shared what is going on with their staff. Much better then showing up for work with the front door locked and a letter taped to the front window. That's how studios shut down here in Canada. I could name three studios here that did this to their employees in the last few years. There are people who worked on some major films here who never got paid for their work. Those films by the way were all profitable. Man, I had these really nice headphones... Take my advise, don't leave things on your desk. The studio might not be in business the next morning. 2 2 Quote Link to comment Share on other sites More sharing options...
3__ Posted August 29, 2012 Share Posted August 29, 2012 Not good. Where's all of this heading... Hopefully a better focus on actually making & selling images. Quote Link to comment Share on other sites More sharing options...
zarti Posted August 31, 2012 Share Posted August 31, 2012 DD .. Stock Falls 75% Over 4 months http://vfxsoldier.wordpress.com/2012/08/30/digital-domain-stock-falls-75-over-4-months/ Quote Link to comment Share on other sites More sharing options...
aghourab Posted September 4, 2012 Share Posted September 4, 2012 Not good. Where's all of this heading... India and China? The movies don't appear to be making any less (John Carter being the bloated exception here), and with tax credits and the expansion of several major studios into developing nations, the costs must be falling. Why then all the turbulence? Quote Link to comment Share on other sites More sharing options...
edward Posted September 5, 2012 Share Posted September 5, 2012 DD .. Stock Falls 75% Over 4 months http://vfxsoldier.wo...-over-4-months/ More bad news for them today: http://www.palmbeachpost.com/news/business/digital-domain-defaults-on-loan-shares-plunge-fart/nR27Z/ "Because of the loan default, Digital Domain said in a filing Tuesday with the Securities and Exchange Commission, it now must pay $51 million, including $16 million in interest and penalties, to a group of institutional investors led by Tenor Capital Management of New York. But Digital Domain had only $6.6 million in cash on its balance sheet as of June 30, and the company said bankruptcy is a possibility." Quote Link to comment Share on other sites More sharing options...
Erik_JE Posted September 5, 2012 Share Posted September 5, 2012 More bad news for them today: http://www.palmbeachpost.com/news/business/digital-domain-defaults-on-loan-shares-plunge-fart/nR27Z/ "Because of the loan default, Digital Domain said in a filing Tuesday with the Securities and Exchange Commission, it now must pay $51 million, including $16 million in interest and penalties, to a group of institutional investors led by Tenor Capital Management of New York. But Digital Domain had only $6.6 million in cash on its balance sheet as of June 30, and the company said bankruptcy is a possibility." “I wish we never went public,” Textor said. “We’re a very confusing story as a public company.” All I can say is "No shit Sherlock". Let's hope investors kick him out and someone a little smarter might be able to steer the ship in the right direction. Quote Link to comment Share on other sites More sharing options...
matsbt Posted September 7, 2012 Share Posted September 7, 2012 (edited) John Textor CEO of Digital Domain has resigned: http://www.cartoonbrew.com/business/read-the-resignation-letter-of-digital-domains-john-textor.html Also, 300 DD employees lose their jobs: http://www.cartoonbrew.com/business/digital-domains-legend-of-tembo-shuts-down-production-dozens-of-animation-artists-lose-their-jobs-john-textor-is-ousted.html Edited September 8, 2012 by matsbt Quote Link to comment Share on other sites More sharing options...
hopbin9 Posted September 8, 2012 Share Posted September 8, 2012 John Textor CEO of Digital Domain has resigned: http://www.cartoonbr...ohn-textor.html What an a hole. 1 Quote Link to comment Share on other sites More sharing options...
aghourab Posted September 8, 2012 Share Posted September 8, 2012 What an a hole. Where's a like button when you need it... Quote Link to comment Share on other sites More sharing options...
zarti Posted September 8, 2012 Share Posted September 8, 2012 another 300 . sh!t Quote Link to comment Share on other sites More sharing options...
Netvudu Posted September 8, 2012 Share Posted September 8, 2012 I hope Textor will be forced to look for another sector to work on. It is bad to act silly, but the moment you sillyness affects so many employees it becomes dangerous and despicable. Quote Link to comment Share on other sites More sharing options...
zarti Posted September 11, 2012 Share Posted September 11, 2012 there it goes .. http://uk.reuters.com/article/2012/09/11/us-digitaldomain-bankruptcy-idUKBRE88A0CH20120911 Quote Link to comment Share on other sites More sharing options...
Netvudu Posted September 11, 2012 Share Posted September 11, 2012 Quote Link to comment Share on other sites More sharing options...
hopbin9 Posted September 11, 2012 Share Posted September 11, 2012 there it goes .. http://uk.reuters.co...E88A0CH20120911 This is so sad. Let's hope that they can recover from this. Not all business that file for protection actually go out of business. I feel for all the employees who have to work under those conditions. Quote Link to comment Share on other sites More sharing options...
digitallysane Posted September 11, 2012 Share Posted September 11, 2012 http://www.variety.com/article/VR1118059067 Quote Link to comment Share on other sites More sharing options...
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