BRIEFCASE DVDPLANET ASSETS SOLD TO NEW COMPANY.Byline: - Staff and Wire Services CHATSWORTH - Image Entertainment Inc., a Chatsworth-based licensee and distributor of DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. programming in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , said Tuesday that its DVDPlanet Inc. subsidiary's assets were sold to Planet Entertainment Inc. Planet Entertainment is paying $2.5 million in cash and assuming DVDPlanet's leases for its corporate headquarters and retail store and various other liabilities other liabilities Small and relatively insignificant liabilities. For financial reporting purposes, firms often combine small liabilities into this single category rather than listing each liability separately. related to the assets being acquired. Twenty-three full-time and 10 part-time DVDPlanet employees were laid off in connection with the sale, with the remaining 18 full-time and 18 part-time employees being offered positions with Planet Entertainment. Image expects to accrue a net loss of about $700,000 on the sale of the assets. Image will also expense about $400,000 in severance-related compensation liability in connection with the sale during the quarters ending Sept. 30 and Dec. 31. Wolfgang Puck Wolfgang Johann Puck (born Wolfgang Johann Topfschnig on July 8, 1949) is an Austrian-American celebrity chef, restaurateur, and businessman based in Los Angeles. Cafe in Irvine shuts down IRVINE - The 8-year-old Wolfgang Puck Cafe in the Irvine Spectrum Center has closed amid reorganization of the Beverly Hills-based restaurant chain. The 7,700-square-foot Irvine restaurant opened in 1995. It is the only Wolfgang Puck restaurant to close so far, but more may close as the company evaluates the 75-restaurant chain, officials said. The company also operates restaurants in Woodland Hills and at Universal CityWalk Universal CityWalk is a part of Universal Studios Hollywood, Universal Orlando Resort and Universal Studios Japan originating from Universal's first park, Universal Studios Hollywood. . ``Each restaurant is looked at on a case-by-case basis,'' company spokeswoman Jannis Swerman said. The Irvine restaurant closed Sept. 2 because it wasn't making enough money, Swerman said. Wolfgang Puck Worldwide Inc. is privately held and employs about 5,000 people. It operates 12 fine-dining spots such as Spago and the Malibu-based Granita gra·ni·ta n. A granular dessert ice with a sugar-syrup base, usually flavored with fruit purée, coffee, or wine. [Italian, from feminine past participle of granire, to make grainy, granulate and 27 midlevel mid·lev·el n. The middle stage or level, as in a series, course of action, or career. restaurants such as Wolfgang Puck Express, Wolfgang Puck Cafe and Cucina Cucina! Mavericks owner set to buy theater chain DALLAS - Dallas Mavericks  The introduction of this article is too short.To comply with Wikipedia's lead section guidelines, it should be expanded. owner Mark Cuban Mark Cuban (born July 31, 1958 in Pittsburgh, Pennsylvania)[1] is an American billionaire entrepreneur.[2] He is the owner of the Dallas Mavericks, an NBA franchise[3] and Chairman of HDNet, an HDTV cable network. and a business partner are buying Landmark Theatres' 55 art-house theaters nationwide, sources close to the sale said Tuesday. Cuban and partner Todd Wagner will own equal shares of the Landmark Theatre chain, which has been for sale since 2001, according to one of the sources, both of whom spoke on condition of anonymity. The source also said Wagner would become Landmark's chief executive, but declined to disclose a sale price. Landmark Theatres, the nation's largest art-house chain, features first-run independent and foreign films, restored classics and nontraditional films in 54 theaters, representing 185 screens in 14 states, the company said. The chain has struggled since 2000 when its parent company, Dallas- based Silver Cinemas International Inc., filed for Chapter 11 bankruptcy. Cheesecake chain's stock gets upgrade CALABASAS - Shares of The Cheesecake Factory Inc. climbed 5.29 percent on Tuesday after an analyst upgrade. JP Morgan analyst John Ivankoe changed his rating on the stock to ``neutral,'' meaning it will perform in line with the restaurant sector's average return for the next six to 12 months. He had previously rated it as ``underweight Underweight An situation where a portfolio does not hold a sufficient amount of securities to satisfy the accepted benchmark of the portfolio's asset allocation strategy. Notes: ,'' indicating below-average performance in the same period. In upping the stock, Ivankoe cited projected improvements in the second half of the year. In a note to investors, the analyst also wrote that the upscale bakery and restaurant chain would likely raise menu prices to offset increased costs without changing consumer behavior. Shares rose $1.92 after the note's release, closing at $38.21. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion