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Arclight Cinemas, Pacific Theatres Will Close Permanently

Arclight Cinemas, Pacific Theatres Will Close Permanently
Brent Lang, provided by
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Arclight Cinemas and Pacific Theatres will close down, a victim of a global pandemic that brought moviegoing to a standstill. The news comes as things were beginning to look up for the hard-hit exhibition industry and serves as a reminder of the economic devastation wrought by a public health crisis that upended cultural life.
“After shutting our doors more than a year ago, today we must share the difficult and sad news that Pacific will not be reopening its ArcLight Cinemas and Pacific Theatres locations,” the company said in a statement. “This was not the outcome anyone wanted, but despite a huge effort that exhausted all potential options, the company does not have a viable way forward.” ....

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Purdue Pharma files re-organization plan; CT, other states reject proposal

Purdue Pharma files re-organization plan; CT, other states reject proposal
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Purdue Pharma is headquartered at 201 Tresser Blvd., in downtown Stamford, Conn.Frank Franklin II / Associated Press
STAMFORD Bankrupt OxyContin maker Purdue Pharma filed Tuesday a re-organization plan, which it said would provide billions of dollars to tackle the opioid crisis but Connecticut and nearly two-dozen other states panned that proposal, arguing for changes such as a greater contribution from the company’s owners.
The Stamford-based firm’s new plan consists of the main terms that it has proposed, since filing for Chapter 11 protection in September 2019, for settling the approximately 3,000 lawsuits consolidated in its bankruptcy case. It values its proposal at more than $10 billion, and the vast majority of the proceeds would be allocated for efforts to respond to a national opioid epidemic that is resulting in tens of thousands of deaths every year. ....

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Everybody is going to end up paying for weather crisis in Texas

Everybody is going to end up paying for weather crisis in Texas - and elsewhere
David R Baker and Mark Chediak, Bloomberg News
March 13, 2021
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Residents shovel snow from the street in front of a home in East Austin, Texas, U.S., on Wednesday, Feb. 17, 2021.Thomas Ryan Allison / Bloomberg
Fallout from last month’s deadly deep freeze in Texas has quietly spread to people living hundreds of miles away. Minnesota utilities have warned that monthly heating bills could spike by $400, after the crisis jacked up natural gas prices across the country. Xcel Energy’s Colorado customers could face a $7.50 per month surcharge for the next two years. ....

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Recycler files for Chapter 11 bankruptcy protection | Plastics in Packaging

March 8, 2021
Production at all three of US-based CarbonLite’s facilities – in California, Texas and Pennsylvania – and its Californian thermoforming business PinnPack Packaging, will continue as usual without interruption, as will payment of all employees. Layoffs are not under consideration. There will be no stoppage of supply to CarbonLite’s customers during the reorganisation period.
Pressures directly related to the coronavirus pandemic contributed to CarbonLite’s decision to reorganise. This included temporary production slow-downs caused by employee illness, the low price of virgin plastics relative to recycled PET, and a nine-month delay in the opening of the company’s new Pennsylvania facility caused by travel restrictions that held up equipment commissioning by European manufacturers. ....

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Boy Scouts will sell nearly 60 Norman Rockwell works to pay sex-abuse claims

Boy Scouts will sell nearly 60 Norman Rockwell works to pay sex-abuse claims
Neil Vigdor, New York Times
March 2, 2021
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The association between the Boy Scouts of America and Norman Rockwell spanned more than six decades, yielding dozens of commissioned coming-of-age portraits that evoke virtue, bravery and Americana.
But now faced with tens of thousands of sex-abuse claims, the debt-saddled organization is poised to do the unthinkable: Sell its collection of Rockwell’s art.
In a reorganization plan filed in federal bankruptcy court in Delaware this week, the Boy Scouts listed nearly 60 of pieces of art by Rockwell whose sale would help raise money for a settlement fund of at least $300 million for sexual abuse victims. ....

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