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- Watch or Download Online Death at a Funeral its your ... - PRLog (free press release)
- Wanna download Kick-Ass (2010) Release movie click here - PRLog (free press release)
- Regulators approve futures trading based on movie box office revenues ... - Chicago Tribune
- Reel Man: Behind the scenes with movie prop expert Phil ... - New York Daily News
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Regulators approve futures trading based on movie box office revenues ... - Chicago Tribune Posted: 17 Apr 2010 02:04 AM PDT LOS ANGELES (AP) — U.S. regulators on Friday approved the creation of a futures market for trading in forecast box-office receipts, but major Hollywood studios immediately trumpeted a bill that would ban it. The U.S. Commodity Futures Trading Commission approved the creation of the Trend Exchange, a forum that would allow movie industry participants and speculators to trade on predicted movie revenues. The exchange still requires the commission's approval of specific contracts, which would essentially act as presales of ticket revenue. A decision on the contracts is due June 7. Hollywood is trying to short-circuit that decision, and on Friday called the exchange "an online gaming platform that could be easily manipulated." Also Friday, the lobbying arm for the major studios said U.S. Sen. Blanche Lincoln, D-Ark., had included language in a major financial reform bill that would ban futures trading based on movie receipts. The bill would also prevent a bailout of Wall Street firms who engage in risky derivatives trading and is set to be debated in a committee next week. The ban was backed by the Motion Picture Association of America, the National Association of Theatre Owners, the Directors Guild of America and the Independent Film & Television Alliance. Veriana Ventures, which proposed the Trend Exchange, said it would press on despite the industry opposition, arguing that smaller studios could benefit because potential film financiers might invest more in movies if they had a mechanism to offset risk. "How can an exchange that helps create liquidity be criticized when it really helps bring new dollars to an already struggling economic situation?" Veriana CEO Rob Swagger said on a conference call with reporters. Veriana stands to benefit by charging fees for trades and for managing the exchange. The commodity futures commission is also reviewing a proposal to create a second market called Cantor Exchange. That one would have lower investment requirements than Trend Exchange, making it more likely for movie fans and other amateurs to participate. A ruling on the Cantor proposal, backed by Cantor Fitzgerald LP, is expected next week. The two online trading forums would be similar to futures markets common for commodities such as corn and pork bellies. Although goods are rarely exchanged directly through such markets, they let sellers reduce risks by locking in prices ahead of time. Buyers are hoping to benefit from a rise in prices, or in the case of movies, that receipts are better than expected. Backers of the box-office exchanges say those markets would help Hollywood manage risk in a notoriously hit-or-miss business. Investors would be able to hedge against potential flops by preselling a share of future box office receipts. The exchanges could even guard against likely hits, such as the upcoming " Harry Potter" and "Twilight" sequels, falling short of projections. If a movie doesn't do as well as expected, investors would at least be guaranteed revenue from those presales, known as futures contracts. One member of the futures commission, Bart Chilton, said he "reluctantly" approved the Trend Exchange because it fulfilled the requirements of the law, and a deadline for approval had arrived. However, he said he still had "significant concerns" about whether such markets could effectively help offset risk and avoid manipulation. "At this point in time, I have not heard any arguments to persuade me that 'movie futures' generally can overcome some fundamental design flaws," Chilton said in a statement. Commissioners Scott O'Malia and Jill Sommers said in a joint statement they had "serious concerns" about box-office futures and "support a very thorough review." A House subcommittee on farm commodities and risk management has scheduled a hearing for Thursday on the movie futures contracts. Copyright 2010 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. This posting includes an audio/video/photo media file: Download Now |
Reel Man: Behind the scenes with movie prop expert Phil ... - New York Daily News Posted: 17 Apr 2010 01:43 AM PDT Saturday, April 17th 2010, 4:00 AM Phil Weiss, 53, doesn't watch movies like the rest of us. The Long Island appraiser, who is a regular on "Antiques Roadshow," is always keeping an eye out for valuables on the big screen. With the Tribeca Film Festival looming, Weiss gives us an inside look at the world of big-money movie props. First, how exactly do you give movie props a value? One word: comparables. To establish the value of something, you have to fi nd something comparable that has sold. For example, say you have the shoes Al Pacino wore in "The Godfather." Compare that to the ruby slippers Judy Garland wore in "Wizard of Oz" that sold for $666,000. Pacino's shoes wouldn't really be comparable — he's made a ton of movies and, after all, they are just a pair of black shoes. Whereas the "Wizard of Oz" slippers are really iconic. The movie was based around those shoes. But how did those ruby slippers sell for that much money? We judge it by the longevity. If you think about it, every generation of kids watches that movie. There's a whole "Wizard of Oz" collectors society, which includes superfans that will pay that kind of money for slippers. What are some other big-ticket items you've seen in your career? Luke Skywalker's lightsaber from "Star Wars" sold for $240,000 in 2008, Audrey Hepburn's pink dress in "Breakfast at Tiffany's" sold for $192,000, and the voodoo doll modeled after Harrison Ford in the movie "Indiana Jones and the Temple of Doom" sold for $30,000 in 2008. Whoa! Do you see any items in movies today that might be valuable? Well, it's different now. Today, people are very collector-conscious and aware of value. Back in the '30s and '40s, if props weren't usable, the studios would just throw them away and then someone would fi sh them out to sell. What happens now is the movie studios hold on to things and they market them through auction houses. Does the value of celebrity memorabilia, like a signature, hold up better than props? Well, you have to be careful. If you get involved in buying celebrity items and that celebrity becomes unpopular, the value decreases dramatically. A big factor in determining value is how long people live. (I know it's morbid.) Items, such as signatures, from stars that pass away at earlier ages tend to have a higher value in the market. Where do you get the valuables that you sell at auction? Everywhere and anywhere. People come out of the woodwork with crazy items. Recently, there was an average couple that sold a Honus Wagner T206 baseball card — the rarest baseball card in the world — for $800,000. They found it in their basement! It's not a movie prop, but it was still pretty shocking. When did you become interested in the auction world? I grew up around collections. My dad actually owned one of the oldest bookstores in New York City in the early '60s. Our house was full of stuff — rare books, stamps, all that. I just really started getting into collectibles and decided to make it my career. Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. This posting includes an audio/video/photo media file: Download Now |
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