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The Golden Compass (2007). Laurie Sparham © 2007 New Line Cinema As the old adage goes, you have to speculate to accumulate. But as several Hollywood executives have discovered often at great professional cost is that speculation can also lead to multi-million dollar losses, job cuts, and the ignominy of becoming a laughingstock across Tinseltown. As 15 box office turkeys showed us, sometimes all it takes is one major flop to send a studio down the dreaded path of bankruptcy. 1. It’s A Wonderful Life (1946) Yes, it’s hard to believe. But Frank Capra s five-time Oscar-nominated picture that s as integral to Christmas as tinsel and Santa Claus was largely responsible for bankrupting its studio. Perhaps deterred by its unseasonal story a suicidal man is shown an alternate universe where he doesn’t exist most cinemagoers gave

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