Hollywood Meets the Internet and Economic Reality
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Technology and economics are working big change on the business of entertainment. What are the opportunities for content with quality—and the risks of Hollywood dumbing down more than ever? Also, loan modifications are starting to slow foreclosures. On Reporter's Notebook, are the Democrats being haunted by their promise to run an "open and ethical Congress?"
Banner image: Actress Reese Witherspoon arrives on the red carpet of the Grauman's Chinese Theater for the Los Angeles Premiere of Four Christmases on November 20, 2008 in Hollywood, California. Photo: Frazer Harrison/Getty Images
Loan Modifications Starting to Slow Foreclosures ()
Many troubled homeowners may or may not agree, but Treasury Secretary Tim Geithner today proclaimed an important milestone in the effort to prevent mortgage foreclosures. James Hagerty reports on real estate for the Wall Street Journal.
Hollywood Meets the Internet and Economic Reality ()
With so much free content on-line, the business model for movies just doesn't work any more. Revenues from DVD's are declining fast, as is backing from wealthy "angels" with big money to spend. And this was a summer of box-office flops. Studios are becoming revolving doors for executives, and are basing productions on comic books, graphic novels, webisodes and video games that can be serialized and "branded" for easy marketing. "Specialty" projects aimed at adults are fewer and farther between. We see how the wide world of entertainment is changing.
Rangel Retains Gavel Despite GOP Corruption Allegations ()
After years of high-profile scandals that knocked Republicans off pedestals on Capitol Hill, Democratic House Speaker Nancy Pelosi promised the "most open and ethical" Congress in history. Now Republicans are striking back. Charles Rangel, one of the senior members of Congress, is chair of the Ways ad Means Committee, which oversees the Internal Revenue Service. Among other charges, the New York Democrat is accused of failing to report his own income. Gail Russell Chaddock reports for the Christian Science Monitor.
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