Oscar-Nommed VFX House Rhythm & Hues Filing For Bankruptcy

Become a member of the CGSociety

Connect, Share, and Learn with our Large Growing CG Art Community. It's Free!

THREAD CLOSED
 
Thread Tools Search this Thread Display Modes
Old 02 February 2013   #1
Oscar-Nommed VFX House Rhythm & Hues Filing For Bankruptcy

http://www.deadline.com/2013/02/osc...ing-bankruptcy/

http://vfxsoldier.wordpress.com/201...ues-chapter-11/

Very sorry for the friends that worked there.
__________________

Korpus School of Art + Gallery
Website:
www.korpus-la.com
Facebook Page | Blog
korpus.info@gmail.com
Downtown Los Angeles







Last edited by Rebeccak : 02 February 2013 at 07:49 AM.
 
Old 02 February 2013   #2
Ouch. Maybe well learn more about this tomorrow. Looks like the early rumours are from employees who were told not to show up.

__________________
 
Old 02 February 2013   #3
Weeks/days before delivery of 3 shows as far as I know.

What a shit way to go.

I hope you will all find a safer place soon.
__________________
Homo Effectus

Last edited by Mic_Ma : 02 February 2013 at 08:00 AM.
 
Old 02 February 2013   #4
This is super ironic in light of all the awards they were receiving (including some today) for Life of Pi. This news plus the reported future DW layoffs is incredibly sad.
__________________

Korpus School of Art + Gallery
Website:
www.korpus-la.com
Facebook Page | Blog
korpus.info@gmail.com
Downtown Los Angeles






 
Old 02 February 2013   #5
Best of luck to everyone affected by this sad news.

I hope they win the oscar for Life Of Pi - and have someone use their acceptance speech time to raise awareness of the suffering state of the VFX industry.
__________________

AKIN BILGIC
Modeler / Generalist TD
CGGallery.com
 
Old 02 February 2013   #6
Payroll was not made on friday.

b
 
Old 02 February 2013   #7
Im not sure how it is in other countries, but I was always under the impression that filing for Bankruptcy was the absolute last resort a company would go to. Its also not something that happens overnight...a company should be able to forecast, with a reasonable degree of accuracy, its turnover for the next few months.

Having employees come in to work for even ONE DAY when you have no intention of paying them is wrong.

In South Africa, we have business insurance policies in place that cover staff salaries and debt repayment in-case of bankruptcy...are there similar mechanisms in place in other countries?

I hope that the staff will be placed quickly! My thoughts are with them and their families.
 
Old 02 February 2013   #8
Originally Posted by Pyke: Having employees come in to work for even ONE DAY when you have no intention of paying them is wrong.
.


I agree, very shoddy practice. Management obviously know well in advance what is coming and should at least give staff some warning so they can look around for jobs. It just seems there is little or no employee rights in some advanced countries, and everything is weighted in favour of employers. Or am I not seeing something here?
__________________
I like to learn.
 
Old 02 February 2013   #9
It's not always so cut and dry. Too many times, that next big gig is just around the corner and that big payment is coming any day now. I have been in that situation in two, maybe three, different studios. In two cases we had to take pay cuts, and significant ones at that. Luckily in some of those cases, the big deal happened, and everything went back to normal. Imagine if that "just around the corner" big deal falls through, though. I have been there too. You show up to find a pink slip waiting.

What I am curious to know, though, if the powers that be are so interested in getting everything as cheap as possible, and this keeps putting the best of the best out of work, who will they turn to in order to make their next billion dollar movie?
__________________
Terrence Walker
Studio ArtFX
Learn How to Make Your Own Animated Projects!
You don't need millions of dollars or major studio backing!!
 
Old 02 February 2013   #10
If you are an elegible voter for the the Academy,

Vote for best VFX for "LIFE OF PI".

Not only they deserve it, it will help to bring light to this industry wide debacle.
__________________
LW FREE MODELS:FOR REAL Home Anatomy Thread
FXWARS
:Daily Sketch Forum:HCR Modeling
This message does not reflect the opinions of the US Government


Last edited by RobertoOrtiz : 02 February 2013 at 03:34 PM.
 
Old 02 February 2013   #11
Originally Posted by Pyke: Having employees come in to work for even ONE DAY when you have no intention of paying them is wrong.


Agreed. And yet, so many VFX companies operate part, or all of their overtime schemes under this principle.
__________________
"Even the Christmas vacation will be darkened by New Zealand scripts…"
~ J.R.R. Tolkien, The Letters of J.R.R. Tolkien, Letter 34
 
Old 02 February 2013   #12
What terrible news to start the week with.
__________________
leighvanderbyl.com
 
Old 02 February 2013   #13
I know there's been discussion about this, but to actually hear this news is simply shocking. Shocking...

Agree with Roberto, not only do they deserve the win (that tiger was mind boggling) maybe it will also shed some light on the lunacy of this situation.
__________________
-Michael

www.MichaelSime.com
 
Old 02 February 2013   #14
Thread automatically closed

This thread has been automatically closed as it remained inactive for 12 months. If you wish to continue the discussion, please create a new thread in the appropriate forum.
__________________
CGTalk Policy/Legalities
Note that as CGTalk Members, you agree to the terms and conditions of using this website.
 
Thread Closed share thread



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
CGSociety
Society of Digital Artists
www.cgsociety.org

Powered by vBulletin
Copyright ©2000 - 2006,
Jelsoft Enterprises Ltd.
Minimize Ads
Forum Jump
Miscellaneous

All times are GMT. The time now is 09:07 AM.


Powered by vBulletin
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.