I N T E R N A T I O N A L
I N T E R N A T I O N A L
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Entertainment
Thursday, September 13, 2012
16 Pages Number 184 4th year
‘Titanic’ effects maker files for Chapter 11
WEATHER FORECAST Dps 23 - 32
e-mail: info_ibp@balipost.co.id online: http://www.internationalbalipost.com. http://epaper.internationalbalipost.com.
Thursday, September 13, 2012 Mubarak’s last PM referred to trial for corruption Page 6
Spain and Germany scrape victories, England held
China signs North Korean port deal Page 12
Page 8
AP Photo/Paramount Pictures
In this film image released by Paramount Pictures, a scene is shown from 3-D version of James Cameron’s romantic epic “Titanic.” Associated Press Writer
PORT ST. LUCIE, Fla. — Less than a year after going public, the digital production company founded by director James Cameron has filed for Chapter 11 bankruptcy protection and agreed to sell the core of its business to a private investment firm for $15 million. Digital Domain Media Group Inc., best known for its work on Cameron’s “Titanic,” has produced visual effects for more than 90 movies, including “Pirates of the Caribbean: At World’s End” and the “Transformers” series. And in April, its Tupac Shakur hologram made a splash when it took the stage at the Coachella Valley Music and Arts Festival and appeared to perform alongside Snoop Dogg. But the company was “running out of cash,” Chief Restructuring Officer Michael Katzenstein said in court fil-
ings, and had violated cash and debt requirements set forth by its lenders. It tried to find additional outside sources of capital, but wasn’t able get enough to restructure its debt and pay its operating expenses, he said. The downward spiral was swift. The company went public just 10 months ago, selling nearly 5 million shares at $8.50 each, below the expected $10 to $12 range. Drifting to the $5 range by spring, the stock then spiked as high as $9.20 following huge reaction to the Shakur ho-
logram, with the performance garnering 15 million YouTube hits within 48 hours and winning a top award at the creative marketing gathering Cannes Lions. Building on the buzz, Digital Domain got the green light to create an Elvis Presley hologram for shows, film, TV and other projects worldwide, including appearances. But by August the struggling company said it would review its options, suggesting a possible sale. Shares have fallen as low as 44 cents in recent days. One of the biggest shareholders in the company is former Miami Dolphins quarterback Dan Marino, who is listed in bankruptcy filings as owning 1.6 million shares. From the high to Tuesday’s closing price of 55 cents, his holdings have lost $13.6 million in value.
Bob Dylan: Stigma of slavery ruined America
Associated Press Writer
NEW YORK — Bob Dylan says the stigma of slavery ruined America and he doubts the country can get rid of the shame because it was “founded on the backs of slaves.” The veteran musician tells Rolling
AP Photo/Wenner Media LLC
In this publicity photo provided by Wenner Media LLC, Bob Dylan appears on the cover of the Oct. 2012 issue of Rolling Stone, promoting his new album “Tempest,” released this week.
Stone that in America “people (are) at each other’s throats just because they are of a different color,” adding that “it will hold any nation back.” He also says blacks know that some whites “didn’t want to give up slavery.” The 71-year-old Dylan said, “If slavery had been given up in a more peaceful way, America would be far ahead today.” When asked if President Barack Obama was helping to shift a change, Dylan says: “I don’t have any opinion on that. You have to change your heart if you want to change.” The magazine’s new issue hits newsstands Friday.
AP Photo/Fareed Khan
People gather as rescue work is in progress at a burnt garment factory in Karachi, Pakistan on Wednesday, Sept. 12, 2012. Pakistani officials say the death toll from devastating factory fires that broke out in two major cities has risen to 191.
Deaths in factory fires up to 191 Associated Press
KARACHI — The death toll from a pair of devastating factory fires that broke out in Pakistan’s two biggest cities rose to 191 people on Wednesday, many of whom perished because they were unable to escape buildings that lacked emergency exits and basic safety equipment such as alarms and sprinklers. Such safety issues are common in Pakistan, where many factories are set up illegally in the country’s densely populated cities, and owners often pay officials bribes to look the other way. The number of deaths from the two fires that broke out Tuesday night could trigger calls for better oversight of industrial safety. The more deadly blaze was at a garment factory in the southern city of Karachi, the country’s economic heart. The death toll from the fire rose to 166 people Wednesday, as firefighters continued to battle the blaze, said Roshan Ali Sheikh, a senior government official in Karachi. It was one of the worst industrial accidents in Pakistan’s 65-year history. Most of the deaths were caused by suffocation as people caught in the basement were unable to escape when it filled with smoke,
said the top firefighter in Karachi, Ehtishamud-Din. There were no fire exits, and the doors leading out of the basement were locked, he said. It’s possible the death toll could rise further because authorities suspect there may still be bodies stuck in the basement. Workers on higher floors of the five-story building struggled to make it out of windows that were covered with metal bars. Many were injured when they jumped from the building, including a 27-year-old pregnant woman who was injured in the fall. Another injured factory worker, Mohammad Ilyas, speaking from the hospital, said he was working with roughly 50 other men and women on one of the floors when suddenly a fireball came from the staircase. Continued on page 6
Badung late to implement moratorium
Bali Post
DENPASAR - The efforts of Badung to prepare moratorium in order to limit the number of growing accommodation in the region was considered to have been late by the Dean of Faculty of Tourism, Udayana University, I Putu Anom. Based on the carrying capacity of Bali, chiefly Badung, in 2000-2010, it had been over capacity. “Badung is late to impose a moratorium. Based on the results of our study, the excessive number of hotel rooms has led to a price war since 2010. Our recommendation only allows the establishment of homestays at tourism village,” said Putu Anom in Denpasar. According to him, to determine the carrying capacity of Bali tourism was not only
based on the number of rooms, but also the needs for water in every additional room. However, so far the additional hotel room made by the regency/municipality was always based on the number of tourists coming to Bali. Therefore, the quality of tourists coming to Bali tended to decrease. “Counting the carrying capacity is not based on the quantity of tourists coming to Bali. As happening today, many people see the tourist arrival has exceeded the number of rooms so that it is required the increase of room,” he said. He said the concept of calculating the carrying capacity of Bali tourism should prioritize the local needs such as the need for water and land. Continued on page 6