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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,

 

...

 

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.

 

...

 

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

 

...

 

“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.”

 

...

 

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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Thu, 02/28/2013 - 23:23 | 3288916 ABG LINE
ABG LINE's picture

World Gone Vile.

Thu, 02/28/2013 - 23:39 | 3288966 WayBehind
WayBehind's picture

I like it wild :)

Fri, 03/01/2013 - 02:32 | 3289244 Boris Alatovkrap
Boris Alatovkrap's picture

Boris not is entertained.

Fri, 03/01/2013 - 02:38 | 3289256 eatthebanksters
eatthebanksters's picture

How about a snuff film starring Joe Francis?

Fri, 03/01/2013 - 03:34 | 3289300 Manthong
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.

Fri, 03/01/2013 - 10:49 | 3289920 WayBehind
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. 

Fri, 03/01/2013 - 08:59 | 3289556 lakecity55
lakecity55's picture

"Joe vs. The Drones."

Fri, 03/01/2013 - 12:59 | 3290622 ToNYC
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.

Thu, 02/28/2013 - 23:26 | 3288923 reader2010
reader2010's picture

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

Fri, 03/01/2013 - 01:58 | 3289220 Caviar Emptor
Caviar Emptor's picture

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

Thu, 02/28/2013 - 23:28 | 3288926 francis_sawyer
francis_sawyer's picture

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

Thu, 02/28/2013 - 23:28 | 3288928 meizu
meizu's picture

who pays for porn?

Thu, 02/28/2013 - 23:29 | 3288933 francis_sawyer
francis_sawyer's picture

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

Thu, 02/28/2013 - 23:34 | 3288944 A Nanny Moose
A Nanny Moose's picture

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

Thu, 02/28/2013 - 23:41 | 3288947 AssFire
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.

 

Fri, 03/01/2013 - 00:36 | 3289105 francis_sawyer
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... 

Fri, 03/01/2013 - 01:41 | 3289202 Dr Benway
Dr Benway's picture

I thought Charlie sheen said that

Fri, 03/01/2013 - 08:58 | 3289554 lakecity55
lakecity55's picture

Charlie took the same class as AFire.

Fri, 03/01/2013 - 08:55 | 3289552 Papasmurf
Papasmurf's picture

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

Fri, 03/01/2013 - 09:46 | 3289661 Handful of Dust
Handful of Dust's picture

In the long run, a Lamborghini is cheaper.

Fri, 03/01/2013 - 10:06 | 3289732 GeezerGeek
GeezerGeek's picture

But you can't eat a Lambo.

Thu, 02/28/2013 - 23:32 | 3288938 Tijuana Donkey Show
Tijuana Donkey Show's picture

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

Thu, 02/28/2013 - 23:28 | 3288930 booboo
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.

Fri, 03/01/2013 - 00:38 | 3288940 francis_sawyer
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...

Thu, 02/28/2013 - 23:35 | 3288939 Dr. Engali
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.

Thu, 02/28/2013 - 23:36 | 3288954 A Nanny Moose
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.

Fri, 03/01/2013 - 01:11 | 3289156 Rogue Trooper
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!

Fri, 03/01/2013 - 08:38 | 3289526 kralizec
kralizec's picture

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

Thu, 02/28/2013 - 23:34 | 3288948 TahoeBilly2012
TahoeBilly2012's picture

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

Thu, 02/28/2013 - 23:39 | 3288965 Unprepared
Unprepared's picture

Well, they make YOU produce something.

Fri, 03/01/2013 - 01:53 | 3289215 francis_sawyer
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]

Fri, 03/01/2013 - 12:21 | 3290357 StychoKiller
StychoKiller's picture

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

Thu, 02/28/2013 - 23:34 | 3288949 Kastorsky
Kastorsky's picture

I bet CFTC will be interested in this case. 

Thu, 02/28/2013 - 23:35 | 3288953 chump666
chump666's picture

Porn lost to Tumblr's self pic empire.

It had it's day.

Thu, 02/28/2013 - 23:37 | 3288956 A Nanny Moose
A Nanny Moose's picture

Perhaps movies and music are the next dominoes to fall.

Thu, 02/28/2013 - 23:42 | 3288978 chump666
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

Fri, 03/01/2013 - 00:07 | 3289042 dark pools of soros
dark pools of soros's picture

ZH whiffed on not grabbing Lauren Lyster and going next level

Fri, 03/01/2013 - 01:45 | 3289208 Kirk2NCC1701
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.

Fri, 03/01/2013 - 04:53 | 3289338 zhandax
zhandax's picture

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

Fri, 03/01/2013 - 11:32 | 3290093 ParkAveFlasher
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.

Fri, 03/01/2013 - 14:53 | 3291119 zhandax
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.

Fri, 03/01/2013 - 08:50 | 3289543 PY-129-20
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.

Fri, 03/01/2013 - 11:12 | 3290028 Absinthe Minded
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.

Thu, 02/28/2013 - 23:40 | 3288970 Unprepared
Unprepared's picture

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

Thu, 02/28/2013 - 23:42 | 3288979 Unprepared
Unprepared's picture

Or should I say SEC's headquarters?

Fri, 03/01/2013 - 02:38 | 3289257 SilverIsKing
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.

Fri, 03/01/2013 - 11:34 | 3290117 ParkAveFlasher
ParkAveFlasher's picture

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

Where my dictionary possee at?

Thu, 02/28/2013 - 23:49 | 3288999 willwork4food
Thu, 02/28/2013 - 23:48 | 3288995 ISEEIT
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.

Thu, 02/28/2013 - 23:56 | 3289015 noobzilla
noobzilla's picture

Girls gone mild. 

Thu, 02/28/2013 - 23:58 | 3289024 orangegeek
orangegeek's picture

So is it best to say that GGW has gone tits up?

Fri, 03/01/2013 - 00:31 | 3289093 NoWayJose
NoWayJose's picture

Is GGW a Greek company? They have the same liabilities and assets ratios as most Companies, banks, and countries in the EU.

Fri, 03/01/2013 - 00:32 | 3289097 22winmag
22winmag's picture

I'm surprised they didn't pull the recordkeeping-child porn routine on this company and shut them down long before it came to this.

Fri, 03/01/2013 - 10:24 | 3289817 TBT or not TBT
TBT or not TBT's picture

The statists want the culture subverted so there is more need for the state. It is the dependency agenda. Bring everyone low.

Fri, 03/01/2013 - 00:34 | 3289102 SqueekyFromm
SqueekyFromm's picture

Hmmm, this just screams for an Irish Poem:

 

The Wild, Wild Breast

There once were some ladies quite wild.

Who were, by a sly cad, beguiled;

Into posing half-dressed

But who cudda guessed,

There'd be PHOTOS, MEIN GOTT! they got riled!!!

 

Squeeky Fromm, Girl Reporter

 

 

 

Fri, 03/01/2013 - 09:32 | 3289616 Vlad Tepid
Vlad Tepid's picture

We know you're clever but can you show us your boobs?

Fri, 03/01/2013 - 01:10 | 3289159 jack stephan
jack stephan's picture

Are you a female high school drop out between the ages of 18 to 25......

http://youtu.be/lZVnve5wG0A

.........

Fri, 03/01/2013 - 01:32 | 3289186 Bunga Bunga
Bunga Bunga's picture

And the GDP lost some more contributing boobs.

Fri, 03/01/2013 - 01:35 | 3289191 Manipuflation
Manipuflation's picture

Yes, but all of those college girls on spring break likely have even larger student loan debt than they should have as a result of getting drunk, sick and puking all over some southern locale's shithole "condo" for a week and then showing their face AND tits on camera at the same time.  Smart.  Real Smart.

Fri, 03/01/2013 - 01:41 | 3289201 adr
adr's picture

The new Corporate America, you enter bankruptcy court, discharge your debts and cancel all legal action against you. Within a week you are back in business like nothing happened with a slight name change to the corporation.

Fuck the courts, fuck American business, and most of all fuck Joe Francis that fucking asshole. If you've ever seen the guy, he is an insult to douchebags.

Fri, 03/01/2013 - 09:47 | 3289666 GMadScientist
GMadScientist's picture

I'm somewhat surprised he hasn't been beaten to death my some irate boyfriend of one of his charges.

Fri, 03/01/2013 - 02:20 | 3289233 Paracelsus
Paracelsus's picture

Dark Pools, +10,000 for the Lauren Lyster reference above. miss that hottie

Fri, 03/01/2013 - 03:49 | 3289308 gwar5
gwar5's picture

I give this story 2 Up Nipples. 3 would just be awkward.

 

GGW Joe Frances' head has exploded many times... still nothing to clean up ...it's always empty.

 

Fri, 03/01/2013 - 04:30 | 3289327 Shevva
Shevva's picture

When sex doesn't sell your fucked.

Fri, 03/01/2013 - 09:46 | 3289663 GMadScientist
GMadScientist's picture

...for free.

Fri, 03/01/2013 - 08:09 | 3289468 Downtoolong
Downtoolong's picture

“This Chapter 11 filing will not affect any of Girls Gone Wild’s domestic or international operations,”

When you don't have money at stake, you get a do over, over and over again. Those who do have money pay for their sins. I guess to get ahead you must be broke first. Sounds like everything else in this effed up upside down financial economy.

Fri, 03/01/2013 - 09:20 | 3289528 NuYawkFrankie
NuYawkFrankie's picture

Which reminds me.....

 

Why am I being inundated with ads for CougarLife.com?

At first it was rather flattering that so many "goers" were vying for my attention, I guess - but now with competition heating up  from AsianCupids and EbonyHotties - not to mention RussianSoulmates (yeah right!) - all scrambling for a "piece of the action", it's all getting a bit much....

I'm terrified to walk down th block for fear of having the shirt ripped of my back by these wanton hussies..

Good job I've got my trusty Louisville Slugger (yep - the same one I patrol Wall St with ;) to fend 'em off..

Fri, 03/01/2013 - 09:45 | 3289659 GMadScientist
GMadScientist's picture

Maybe shake up your porn selection and see if you get some midget dating sites in their too.

Fri, 03/01/2013 - 08:49 | 3289541 lakecity55
lakecity55's picture

Hey, Francis, the house always wins.

Fri, 03/01/2013 - 09:01 | 3289560 goldenbuddha454
goldenbuddha454's picture

Clinton should have stepped up to save this poor, struggling entrepreneur.   It would have sealed his legacy!

Fri, 03/01/2013 - 09:08 | 3289574 RougeUnderwriter
RougeUnderwriter's picture

I guess he went BUST

Fri, 03/01/2013 - 09:44 | 3289654 GMadScientist
GMadScientist's picture

I'm sure the no-talent schmuck has already sold the rights to the name to his new shellco.

God Bless America and it's whacked out cognitive dissonance about titties.

Fri, 03/01/2013 - 09:51 | 3289680 Andy_Jackson_Jihad
Andy_Jackson_Jihad's picture

Tits of GTFO, Tyler.

Fri, 03/01/2013 - 09:55 | 3289688 Shizzmoney
Shizzmoney's picture

When GGW first came out in the late 90s, it was all the craze because finding nudie pics were much harder (pun intended) than today, even over the internet (mostly due to download speeds)

Now I can pull up madthumbs on my smartphone, and FILTER to the part of the scene (i.e BJ, DOGGY, etc) I want to.

Nevermind that all of the suckers in the 90s and early 2000s who bought this shit and made Francis a millionaire now have a more "intricate" taste in the porn/filth they consume.  And, most can get it for free since computer IQ has gone up amongst the male populations of the world since early 2000s.  Torrents really killed the business model of GGW, because they never evolved into what the filth consumer wanted: hardcore.  This is how porn evolved into making money from their biz model: get site hits and individually cater to your fans, especially those who pay (mostly hedge fund, entrepreneur, and Wall St types who become members of the site just so they will have a chance to "meet" the girls).

Either way, GGW just goes to show where's there's money, there's stupid (attractive) girls. See: Elliot Spitzer (who paid $5K to the woman he cheated on his wife with, who was on a GGW video during her "modeling" days).

End of an Era....the commericals were always the best in high unintentional comedy.

 

Fri, 03/01/2013 - 12:46 | 3290529 boeing747
boeing747's picture

If he shall be fine by starting a serious of DVDs called "Ben Gone Wild".

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