October 28, 2016
        "Live By Night', "Passengers", and "Silence": What still hasn't screened this year?                Justin Timberlake to be Honored at 20th Annual Hollywood Film Awards: “CAN’T STOP THE FEELING!”                Ten Contenders will compete for Best Documentary Short Subject                "The Circle" and "The Lost City of Z": Which potential 2016 contenders got bumped to 2017?                Natalie Portman, Janelle Monáe, Matthew McConaughey, Bryce Dallas Howard, Edgar Ramirez, Stacy Keach at Hollywood Film Awards                Viola Davis will be campaigned in Best Supporting Actress for "Fences"                Mel Gibson to be Honored with the Hollywood Director Award at the 20th Annual Hollywood Film Awards                Michael Moore drops a surprise new film with "Michael Moore in TrumpLand"                Hollywood Contenders: New Oscar Predictions for October                Nicole Kidman, Hugh Grant, Naomie Harris, Lily Collins get Honors at 20th Annual Hollywood Film Awards                "Manchester by the Sea" leads the Gotham Award nominations                Tom Ford, Marc Platt and Kenneth Lonergan to be Honored at 20th Annual Hollywood Film Awards                Tom Cruise is in his action hero comfort zone with "Jack Reacher: Never Go Back"                "Moonlight" could be A24's big Oscar horse this year                Ewan McGregor steps behind the camera with "American Pastoral"        

Oh, yes, and the bonuses will be in the mail

News that Hollywood raked in $10 billion in domestic box office in 2009 is great news for a belt-tightening industry during tough economic times. But I got to thinking the other day, in an era when the value of money has virtually lost all meaning? When Congress has hiked the debt level to $12.4 trillion and banks and auto companies have been bailed out by the federal government’s $700 billion in TARP fund, doesn’t $10 billion sound like chicken feed? Why crow about it? I mean, Tiger Woods alone is worth $1 billion and no one knows when he’ll get back to work.

But I digress.

You want big numbers? I’ll give you big numbers. Goldman Sachs, which received $10 billion last year in government bailout money, announced recently that it was giving $17 billion in BONUSES to its staff. Can you just imagine what agents at CAA are thinking right now, knowing they got into the wrong business after receiving their MBA’s?

Of course, Goldman immediately suffered public blowback from angry taxpayers, Congressmen and the White House, so now the company says it is giving its top executives stock that cannot be sold for five years. Something makes me think they’ll make even more in the long run provided the stock isn’t in media companies.

Then consider JP Morgan Chase & Co. According to CNN, the company gave out $29 billion in bonuses at year’s end. And, if that isn?t enough, CNN also reports that U.S. banks and hedge funds are doling out $140 billion in bonuses – more than in 2007!

So, all you top executives at Sony, Universal, Fox, Warner Bros., Disney and Paramount, let’s adopt a real goal for 2010: domestic box office grosses of $100 billion!

Oh, yes, and the bonuses will be in the mail.

About Robert W. Welkos

Executive Editor: Robert W. Welkos is an award-winning journalist who covered the entertainment industry for 15 years as a staff writer for the Los Angeles Times. During this span, he wrote extensively about the movie industry from turmoil in the executive suites, the Academy Awards and Golden Globes, and box office hits and bombs to visits to movie sets as well as profiles of top stars and A-list directors, cutting edge features on the newest indie films and visits to famous film festivals like Sundance and Cannes. Prior to entertainment, Welkos worked as a reporter and assistant city editor in The Times’ Metro section where he undertook major investigations for the paper as well as covering breaking news and writing in-depth features. Before joining The Times, he worked for the Associated Press in Reno, Nevada, and City News Service in Los Angeles.

Follow us

Breaking Hollywood News   


2 Trackbacks

Leave a comment

You must be logged in to post a comment.