Girls Gone Filed

Tyler Durden's picture

You know America is in trouble when a company that does nothing but create TV-style shows of college-age women in next-to-no clothes goes bankrupt but sure enough the company behind the "Girls Gone Wild" videos filed Chapter 11 today to protect itself from $10.3 million debt claimed by Steve Wynn’s Wynn Las Vegas LLC (after losing a slander lawsuit suggesting Wynn knowingly tricked high-end gamblers) and a $5.8 million award won by a woman who says the company used naked images of her without permission in the “Girls Gone Wild Sorority Orgy” DVD series. The bankruptcy enables the company "to restructure its frivolous and burdensome legal affairs," and just like GM and UA (the company states reassuringly) it will be business-as-usual for Girls Gone Wild. In perhaps the clearest analog for America, the company had $16.3mm in debt and $50k in assets - now that is leverage-able wealth-effect.

Via Bloomberg,

The company behind the “Girls Gone Wild” videos filed for bankruptcy to protect itself from a $10.3 million debt claimed by Steve Wynn’s Wynn Las Vegas LLC and a $5.8 million award won by a woman who says the company used naked images of her without permission.

 

Last year, Wynn and his company won a slander lawsuit against Joe Francis, founder of the “Girls Gone Wild” franchise,

 

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Francis lied when he claimed he had proof that Wynn tricked high-end gamblers, the judge ruled.

 

GGW Brands LLC said it had about $16.3 million in debt and less than $50,000 in assets.

 

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GGW Brands filed for bankruptcy “to restructure its frivolous and burdensome legal affairs,”

 

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“This Chapter 11 filing will not affect any of Girls Gone Wild’s domestic or international operations,” according to the statement. “Just like American Airlines and General Motors, it will be business as usual for Girls Gone Wild.”

 

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Favazza sued Francis in 2008, claiming someone exposed her breasts while filming in a bar in St. Louis for the “Girls Gone Wild Sorority Orgy” DVD series, according to court documents.

 

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ABG LINE's picture

World Gone Vile.

eatthebanksters's picture

How about a snuff film starring Joe Francis?

Manthong's picture

Not to worry..

The diligent folks at the SEC have been seriously looking at this and similar expositions for the last several years.now.

WayBehind's picture

For the last few years they have been filming FED GONE WILD. Coming to theaters near you. Not suited for children and anybody with common sense. 

ToNYC's picture

One less cockroach is a start. Let them 'ho on their own, doing a dam fine job so far as I can see. Show and sell, now open the checkbooks or get perp-smacked.

reader2010's picture

Not Just iPhone Alone, Even Sex Doesn't Sell Anymore? 

Caviar Emptor's picture

Truly a shocking turn. And the curtain has come down for Boob-flation

francis_sawyer's picture

Bubby ~ francis_sawyer is ya WHITE KNIGHT... Always ready to step in with LEVERAGE & LIQUIDITY

meizu's picture

who pays for porn?

francis_sawyer's picture

staticicians ~ who figured out it costs LESS than marriage... 

A Nanny Moose's picture

Owning an overpriced, overtaxed piece of property vs. renting.

AssFire's picture

I had a high-school drafting teacher tell me:

"You don't pay them for sex, you pay them to leave"

He sounds like one of those statisticians you misspelled about.

 

francis_sawyer's picture

how was he at a keyboard that had lost its battery charge?... [Note: I had to stop 5, now 7, times to re-edit that]... at 11 now... 

Dr Benway's picture

I thought Charlie sheen said that

lakecity55's picture

Charlie took the same class as AFire.

Papasmurf's picture

It's not the marriage that costs, it's the divorce.

Handful of Dust's picture

In the long run, a Lamborghini is cheaper.

Tijuana Donkey Show's picture

The SEC, and TSA. So, by proxy, you!

booboo's picture

Let me guess, Francis lost his ass at a Wynns poker table and how in the fuck does a company that gets free tits and ass video and sells the shit out of it to pimple faces high schoolers and college geeks as dick skinner warm ups go, well, tits up? 15 million ain't a whole lot in this gig.

francis_sawyer's picture

I'm aghast to imagine that you'd think I'd EVER lose 'house rake' to a Jew casino [even if only to while away 'poker hours' against conventioneers]...

~~~

There are BETTER ways of taking Stevie Wynn down... [like the 24-1 parlay that I scored by taking the MONEYLINE on the Baltimore Ravens vs. DN/NE/SF in a row]...

I tried to get ZHers in on that [it's documented within these thread archives]... Alas...

I'm changing my username to TITANIC [francis_sawyer] THOMPSON...

Dr. Engali's picture

You know that there is too much fiat flying around when you can leverage up 326 to 1 to produce something people can get for free from the Internet.

A Nanny Moose's picture

There was a time...back in the Dawt Bawmbz daze, where teh Pr0nz was teh only thing making money. It was also a time when "the" was spelt correctly, and we thought we knew what the meaning of the word "IS", is.

Rogue Trooper's picture

Nanny, LOL!

... everything is so fucked up I cannot keep track anymore.

Message to the Prez. Obozo. PORN need's a bailout and FAST...  this is what happens with the sequester SEE, SEE, SEE!

kralizec's picture

Porn bailout, now that there is art chasing after life! 

TahoeBilly2012's picture

Hey, at least they "produce" something...Goldman? JPM? What do they produce?

Unprepared's picture

Well, they make YOU produce something.

francis_sawyer's picture

Maybe they underwrite Dapne Rosen & Kelly Wells... Jus speculatin' [after all ~ I'm not a 24/7 moneymaking machine ~ I'm jus a hack]

StychoKiller's picture

Danni Ashe has got it ALL!  Brainz, looks, & Huge boobs!

Kastorsky's picture

I bet CFTC will be interested in this case. 

chump666's picture

Porn lost to Tumblr's self pic empire.

It had it's day.

A Nanny Moose's picture

Perhaps movies and music are the next dominoes to fall.

chump666's picture

Maybe, but a DIY empire is starting up, not facebook crap.  But people actually doing things, like movies and music, writing etc.  Tumblr nailed it very well on the porn trip, Kickstarter for the startups

And of course Zero Hedge will end up taking out CNN, Marketwatch etc

dark pools of soros's picture

ZH whiffed on not grabbing Lauren Lyster and going next level

Kirk2NCC1701's picture

+10.  But, there's always hope they will do so, or are working on a plan.  We can only hope that this site is part of a bigger plan that grows an entire ZH ecosystem.

zhandax's picture

Would Al Jazeera take a quick profit on a flip of algore's CurrentTV?  I love poetic justice.

ParkAveFlasher's picture

In case you didn't get the memo, which first was the snorg tees and then the columbian cupids / philipino hotties ads, IMO ZH doesn't have what one would term a "reliable revenue stream" to support video production sporting that kind of cleavage.  I doubt that ZH can even tote Daniella (sp) Cambone. 

In the meantime, I'm satisfied with the very good avatars that some of these guys sport.  And, it's free.

zhandax's picture

If one is to waste a moment on wishful thinking, I will take Tyler on TV over economic recovery from borrowing another $10T any day.

PY-129-20's picture

Well, two of the biggest US VFX-Houses filed already for bankruptcy - Digital Domain and Rhythm and Hues. They just won the Oscar for "Life of Pi". Situation is rather bleak for US companies.

More and more of the US films are produced in studios in Europe or elsewhere. US VFX Houses are going bankrupt - one by one. Production shifting or relocating to Asia or places where it is heavily subsidized (Canada).

The music industry is also a shadow of it's former self.

Same is happening here with books and ebooks. Give it some more time and success and we will see a lot of change in the book industry. Fewer publishers, fewer individual book stores, and so forth. Happened partly already in the US.

Absinthe Minded's picture

Reminds me of the HG Wells story,"The Time Machine" starring Rod Taylor from the 60's. He goes to the future and finds books have been replaced by wierd spinning discs and the people are all apathetic and emotionless. At this moment in time, it looks quite prophetic.

Unprepared's picture

This is a sad day at SEC headquarters. GGW was part of their training and welcome package to new employees.

Unprepared's picture

Or should I say SEC's headquarters?

SilverIsKing's picture

The GGW re-runs are great.

Don't you remember the early episode in which Samantha grabbed Robin's tits. Or when Stacy smacked Barbi's ass?

I don't need any new GGW episodes to continue to appreciate the franchise and its offerings. To be honest the older ones with a real storyline and shot on film are the classics.

ParkAveFlasher's picture

You should say S pehriod E pehriod C pehriod apostrophe S.

Where my dictionary possee at?

ISEEIT's picture

This might be unfortunately true, and in fact I as an individual do consider 'porn' to be at the very least a symptom, if not actually a disease; However in an even remotely free-market such contest between my beliefs and those of others would be contested on a free and fair field of battle.

With a 'government' such as ours there truly is no authentic freedom and so no such contest can take place.

Central planning is in fact slavery.

I will not concede on this point because I do respect this fact as absolutely and irrevocably true.

noobzilla's picture

Girls gone mild.