bankruptcy

Thomas Kinkade is bankrupt

Thomas Kinkade is bankrupt

After duping gallery owners into buying his artwork as part of a scheme to lower the value of his company for a corporate buyout, Thomas Kinkade, the painter of light, has filed for Chapter 11 bankruptcy protection just one day before the company was due to pay back their next $1 million installment. Here’s how it went down: In the early 2000s Kinkade sold his paintings without telling the gallery owners that “they would have to sell [his] works at minimum retail prices while the artist undercut them with discount sales, some of which he made himself on cable television. It was all part of a plan, they claimed, to lower the value of the publicly traded company before Kinkade bought it in 2004 at steep losses to many investors.”

Michael Moore's CAPITALISM: A LOVE STORY

Michael Moore's CAPITALISM: A LOVE STORY

Populist director Michael Moore takes a stab at the fat cats of Wall Street in his latest film CAPITALISM: A LOVE STORY, a documentary about the financial crisis of 2007-2009 and the subsequent stimulus and bailout packages. CAPITALISM echoes similar themes from a 2003 Canadian documentary THE CORPORATION, a critical examination of the modern-day corporation and its behavior towards society.

Rebranding General Motors

Rebranding General Motors

Brand strategist Jon Schneider offers two new logo concepts for General Motors as the company looks ahead to a post-bankruptcy future. In addition to communicating to the public that they are a changed company, the logo should also reflect the fact that “the US government now owns 60% of the auto manufacturer.” Concept 1. Concept…