backtop


Print 71 comment(s) - last by callmeroy.. on Apr 30 at 10:41 AM

Blockbuster may have been busted by Netflix

For many years Blockbuster video enjoyed great success in the movie rental business. Blockbuster is one of the largest movie rental chains in the country, but the company has found that its continued existence is far from guaranteed.

Blockbuster has announced that there is "substantial doubt" about its ability to continue as a going concern. A going concern is a qualification that refers to an auditor's assessment of a company's ability to continue operations reports MSNBC.

Blockbuster is struggling with profitability and viability in the face of the rising popularity of mail-order rental services like Netflix the company stated in a SEC disclosure. Blockbuster had previously disclosed that an auditor was likely to raise doubts about its long-term viability.

Blockbuster stated last week that its revolving and term loan agreement had been amended giving the company a $250 million revolving loan for financing maturing on September 30, 2010. The company thinks it will be able to close the financing around May 11, but states that the closing of the loan is not assured at this point.

Blockbuster says that even if the loan is funded it, "may not have sufficient liquidity to finance the ongoing obligations of our business, which raises substantial doubt about our ability to continue as a going concern."

Blockbuster shares fell 3 cents to 85 cents in trading after hours after closing at 88 cents reports MSNBC. In July of 2008 Blockbuster was considering the purchase of now defunct Circuit City.  



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: screw Lackluster Video
By hiscross on 4/7/2009 2:02:07 PM , Rating: -1
So being a Christian is bad. OK, I can live with that. It just cements my belief in why this Sunday is so important not only only to me, but to mankind. As I see it we have two choices in life and they believing in Christ as our on;y true savior or taking a chance that there is a better way. Since hat better way hasn't been found and believing might make me human enemies, I do know that Christ will always take care of me and that is why I made believing and following Hi my lives work.


RE: screw Lackluster Video
By themengsk176 on 4/7/2009 2:05:40 PM , Rating: 3
I love it when an overwhelming majority demographic in a population convinces itself that it is being oppressed by a tiny minority.

I really do.


RE: screw Lackluster Video
By jcbond on 4/7/2009 2:17:23 PM , Rating: 3
I have to wonder which poster you actually mean by this reply. ;-)


RE: screw Lackluster Video
By walk2k on 4/7/2009 2:24:39 PM , Rating: 2
Oh geez, nothing wrong with being christian. The point is BB has too much power in the industry (or they used to...) that it creates a chilling effect if they say they won't carry certain types of movies.

Good riddance, I say.


RE: screw Lackluster Video
By callmeroy on 4/7/2009 2:31:09 PM , Rating: 2
yep really wouldn't impact me much either -- I don't rent much to begin with so its not like a habit i'd have to break or anything....and I mostly buy my dvd's from bestbuy these days.

(Side note i just noticed last week they tour down the BB around the corner from me...so I guess they really are starting to go under).


RE: screw Lackluster Video
By Reclaimer77 on 4/7/2009 4:47:50 PM , Rating: 2
Walk I don't think you understand how things work.

Blockbuster is a large business. They are not operating to put forth some conspiritorial Christian viewpoint, they are there to make money.

Large businesses get complaints by individuals, and usually, they act on them. This isn't about Blockbuster wielding "too much power" man, are you daft ? BlockBuster didn't decide to take certain titles off their shelves for the hell of it, they did it because some beancounter somewhere decided the complaints, if left unresolved, could result in a loss of net profits.

Remember, the greasy wheel always gets the oil. As long as the silent majority stays silent, the vocal minority will always wield more power.

Want an example ? There is a BBQ chain where I live called Sonny's.. not the best BBQ, but I digress. Every Halloween they decorate their stores with scary spiders and spooky ghosts hanging from the lights and rafters. Except last Halloween. Asking the waitress about it in passing, she informed me that the previous Halloween one child got terrified of the decoration. That childs parents complained to headquarters. And voila, just like that, no more Halloween decorations. Chain wide ! Because of ONE customers complaints !


RE: screw Lackluster Video
By Boze on 4/7/2009 6:28:28 PM , Rating: 2
Sounds more like Sonny's should have recommended therapy for the child and kept the Halloween decorations.

The majority should never be deprived of something because it angers or offends the minority...

For some damn reason, more and more people in the United States are starting to believe they have the right not to be offended... pretty damn reprehensible for a nation whose Founding Fathers were masters of inflammatory speech.


RE: screw Lackluster Video
By Reclaimer77 on 4/7/2009 6:37:22 PM , Rating: 2
You won't get an argument from me. But there it is. /shrug


RE: screw Lackluster Video
By walk2k on 4/7/2009 6:50:26 PM , Rating: 1
Sorry but it's you who doesn't understand "chilling effect" Look it up some time. It's unfortunately all too real.


RE: screw Lackluster Video
By Boze on 4/7/2009 7:05:20 PM , Rating: 2
Well I looked up "chilling effect".

And you're using it incorrectly.

From Wikipedia: (of course, I'm too lazy to consult a proper source)

quote:
A chilling effect is a term in law and communication which describes a situation where speech or conduct is suppressed by fear of penalization at the interests of an individual or group. It may prompt self-censorship and therefore hamper free speech. Since many attacks rely on libel law, the term libel chill is also often used.


What you were talking about has nothing to do with "chilling effect". Not carrying a movie because they believe it goes against their "family-friendly" policy is hardly a chilling effect.


RE: screw Lackluster Video
By walk2k on 4/7/2009 7:30:57 PM , Rating: 1
Yes it is. If BB or Walmart won't carry it, it won't get made, not by any major hollywood studio that's for sure.

That's a chilling effect. It's pretty simple.


RE: screw Lackluster Video
By C'DaleRider on 4/7/2009 8:26:16 PM , Rating: 2
It's the SQUEAKY wheel gets the grease, not the greasy wheel gets the oil.

A greasy wheel would essentially be silent...so would not direct any attention to itself.


RE: screw Lackluster Video
By callmeroy on 4/7/2009 2:25:51 PM , Rating: 2
To the OP -- I don't rent much from BB but I do rent some -- if you asked me for an average , probably a movie every 3 months (I normally watch movies in the theater or someone's house - then if I like it i buy it - not rent it)...but in all those years -- I see the same normal versions of the movies that you get if you buy the theatrical release version of the movie on DVD...so I really don't get the censorship thing at all. If you are honestly upset that they don't rent porn - that's just silly, its a family rental business -- there's about 8.2 billion porn video stores across the country you mean to tell me you can't find one near you?

Secondly to "hiscross" -- don't worry, I also consider myself Christian -- though by "strict" Catholic standards I'd be called a very laid back Christian I guess. I do believe and do have faith and I try to understand more about it every day. But I also know how people are very standoffish about religion and look at it like you are the "icky monster" in the room once you mention it...so don't get take it personally when folks ridicule you or what not for voicing your belief.


RE: screw Lackluster Video
By callmeroy on 4/7/2009 2:28:29 PM , Rating: 1
lol interesting observation....it appears key words trigger the auto downgrade -- guess the site really wants to discourage relgious debate....lol (can't say I blame them though)


RE: screw Lackluster Video
By grath on 4/7/2009 3:07:20 PM , Rating: 2
The auto-downgrade happens because it is a reply to a post that was already -1 as a way to discourage feeding the trolls and lengthy pointless arguments, not due to any filter or trigger in the content.


RE: screw Lackluster Video
By walk2k on 4/7/2009 4:01:00 PM , Rating: 2
Actually it's just a handful of cave-trolls with dozens of DT accounts who sit around and downrate messages they don't agree with. It usually backfires though, who doesn't like to read the nice shiny bright RED messages? :) It's like staring at cleavage, you know you shouldn't but you just can't look away.


RE: screw Lackluster Video
By noirsoft on 4/7/2009 5:13:03 PM , Rating: 1
quote:
It just cements my belief in why this Sunday is so important not only only to me, but to mankind


I agree. The world would be much better off if people realized that this Sunday was originally a celebration of the Pagan goddess Eostre, and that the festival was co-opted (like Yule as Christmas) by the Christian religion in order to make it easier to convert the masses by letting them continue to celebrate their holidays, just under a slightly different name.

http://en.wikipedia.org/wiki/Eostre


"Paying an extra $500 for a computer in this environment -- same piece of hardware -- paying $500 more to get a logo on it? I think that's a more challenging proposition for the average person than it used to be." -- Steve Ballmer

Related Articles













botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki