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Terminator Franchise To Be Auctioned Off
"For sale: One slightly-used Terminator. Still works, minor attitude problems, get it cheap now!' Several sources are reporting that the Terminator franchise is set to be auctioned off just three weeks after another well known franchise, the Teenage Mutant Ninja Turtles, was sold for $60 million. The present owner, Halcyon, has filed for chapter 11 after a dispute with a hedge fund that lent Halcyon the money to buy the rights to begin with. The auction will include rights to everything but the first two films.
I love the idea, that in a capitalist economy, resources that are not used efficiently, get reallocated to live another day.
Let me explain...
Investor A buys the rights to the Terminator series years ago. That turned out to be a bad investment because they couldn't make a profit on that purchase. For that reason, and I am sure many others, the Investor that did this took huge losses and ultimately filed bankruptcy.
Here is where we break from "the way things used to work for over 230 yrs" to "Obama's change". (sorry, the politics can not be avoided)
Instead of propping up this bad investment (insert whatever rationale you want), we force the Investor to declare bankruptcy. As part of that process, the "assets" are put up for auction as creditors are paid as much as possible with the auction proceeds. This is a beautiful system in how it works. Nobody goes to prison. Nobody dies. Instead, the people who should take the hit (Investors) are the ones who actually take the hit and furthermore, the assets live to see another day (and another owner who might create MORE wealth out of this franchise).
Contrast this with all the shit going on around us here in the States and you'll have to forgive me if I am bit twitchy with my "Celebrate Capitalism" trigger finger. It's just refreshing to know it's still around since everyone in charge seems to have forgotten...