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.”
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.
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…