Because it doesn't look too pretty with the ongoing writers' strike. It's actually getting real ugly, and I'm starting to get worried for these kids. If going without watching fresh episodes of my favorite shows in the remainder of the season means justice for writer's getting real paid, then I'll really--as well as the rest of America, I hope--will support 'em, because I never want to get in the way of something getting that paycheck. As some wise men once said, you can't make a dollar out of 15 cents, and sometimes you gotta say, "Fuck a dollar and a dream." Don't worry, it's relevant.
Anyhow, Axium, one of the entertainment industry's largest providers in payroll and accounting services filed for Chapter 7 bankruptcy yesterday, sending a lot of its employees with dour hopes and loose pockets. Ain't that some shit? The Enron disease is still contagious, I see.
An excerpt from Celebitchy:
Axium Intl., the entertainment industry’s third-largest provider of payroll and accounting services, has closed unexpectedly and filed for Chapter 7 bankruptcy.
Axium shuttered operations Tuesday, a day after its lenders froze the company’s bank accounts. Immediate impact was unclear, but some of the frozen funds included paychecks for film projects.
Director Charlie Matthau told Daily Variety that much of the money he was owed on the recently completed indie drama “Baby O” was frozen Tuesday.
“I was supposed to go pick up a $75,000 check from the DGA, until they told me there was this problem, that Axium had gone out of business and all the accounts were frozen, ” said the helmer, son of the late Walter Matthau. “I feel totally violated, and I’m hoping that the Guild will be able to help me.”
Matthau said Axium notified him recently that the money had been wired into his account.
“In fact, they’d done no such thing, and they were hiding this 400-pound gorilla of bankruptcy,” he added. “Because of that memo, I hope that the City Attorney or District Attorney looks into this. It has affected me and likely a whole lot of other people.”
A Chapter 7 bankruptcy filing is designed to govern the liquidation of company assets. Axium reps were not available for comment Tuesday, and the headquarters offices on Wilshire Boulevard were shuttered.
Axium president Ruben Rodriguez had left the firm. Axium employees were told Monday not to come to work until further notice, and if in contact with their clients, to tell them that Axium could no longer process their business.
Read the rest of the post here.