Venezuela has the largest proven oil reserves in the world. It was once so rich that Concorde used to fly from Caracas to Paris. But in the last three years its economy has collapsed. Hunger has gripped the nation for years. Now, it’s killing people and animals that are dying of starvation. The Venezuelan government knows, but won’t admit it!!! Four in five Venezuelans live in poverty. People queue for hours to buy food. Much of the time they go without. People are also dying from a lack of medicines. Inflation is at 82,766% and there are warnings it could exceed one million per cent by the end of this year. Venezuelans are trying to get out. The UN says 2.3 million people have fled the country - 7% of the population.

Tuesday, February 8, 2011

Industry News: Redbox Business Hurt by 28-Day Delay of DVDs

January 14, 2011

Redbox Business Hurt by 28-Day Delay of DVDs

Parent company CEO Paul Davis said 'we underestimated the impact that the delay would have.'
NEW YORK – The 28-day delay that several studios have established for getting DVD releases to DVD rental kiosk operator Redbox seems to be a drag on the company's business.

Shares of Coinstar, which operates Redbox, fell more than 20 percent in early Friday trading after the company on Thursday slashed its financial outlook for the fourth quarter and current year, citing weaker-than-expected holiday demand and the new release window.

As of 9:45 am ET, the stock was down 24.8 percent at $42.83.

Coinstar said it had expected a stronger performance from movies released during the holiday season.

"Overall, the performance of the Redbox business during the fourth quarter was not in line with our forecast," said CEO Paul Davis. "This was Redbox's first holiday season with 28-day delayed titles, and we underestimated the impact that the delay would have on demand during the fourth quarter."

The company said it now expects revenue of $391 million, lower than its previous guidance of $415 million-$440 million, and lower earnings per share from continuing operations. Redbox revenue still grew 38 percent over the year-ago period in the fourth quarter.

Thank you Hollywood Reporter

A.
www.chicas-productions.com
Posted by Essentials by APA at 4:29 PM
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