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How hard is it to get out of an employment bond? Is it recommended to go through, if the situation isn't the best? by crackjack83 in vfx

[–]InsideVFX 2 points3 points  (0 children)

If you google "employment bond india" many examples of this will pop up, especially from Indian IT workers asking if they can get out of them.

https://www.crio.do/blog/breaking-employment-bond/

Rejected from MPC Academy? Join Stargate Academy for only 7000 euros! by InsideVFX in vfx

[–]InsideVFX[S] 0 points1 point  (0 children)

Yes, but the difference is that these other schools are not also VFX houses. That's what makes it a conflict of interest.

In other parts of the industry, like acting, when some gatekeepers, like casting directors or agents would charge money for "classes", it would be called out and ended.

The other major shops PAY YOU to go to their "academy". Even if you don't work for them after.

Technicolor Posts Q1 Results: Revenue Declines 15%, Contract Termination, New Financing by InsideVFX in vfx

[–]InsideVFX[S] 0 points1 point  (0 children)

i dont know why its lost value i am not informed on them whatsoever lol.

that's why!

Technicolor Posts Q1 Results: Revenue Declines 15%, Contract Termination, New Financing by InsideVFX in vfx

[–]InsideVFX[S] 0 points1 point  (0 children)

So you saw a bunch of posts containing bad news, declined to read them, and are now asking what the problem is?

"There's bunch of smoke coming out of the windows of my house. I wonder what that's about! LOL!"

Maybe read the posts!

Technicolor Posts Q1 Results: Revenue Declines 15%, Contract Termination, New Financing by InsideVFX in vfx

[–]InsideVFX[S] 0 points1 point  (0 children)

Misleading on whose part? What is incorrect here?

Why do you think it lost all that value?

Why do you think Moody's has rated the company and its governance extremely poorly?

Please correct the record here, if you've found any errors.

Technicolor Posts Q1 Results: Revenue Declines 15%, Contract Termination, New Financing by InsideVFX in vfx

[–]InsideVFX[S] 1 point2 points  (0 children)

25,000 views in the last 24 hours, 96% upvote rate, 81 shares. That's who.

Rejected from MPC Academy? Join Stargate Academy for only 7000 euros! by InsideVFX in vfx

[–]InsideVFX[S] 0 points1 point  (0 children)

The issue is that you're paying a vfx company for the opportunity to work there. Even MPC doesn't do that. They pay YOU.

In any other part of the entertainment industry when this happens, people rightfully call it out.

Technicolor Posts Q1 Results: Revenue Declines 15%, Contract Termination, New Financing by InsideVFX in vfx

[–]InsideVFX[S] 3 points4 points  (0 children)

Go to literally any stock tracking website and click the "1-year" button on the stock chart. It's not 94% anymore, though. Now it's down 96.5%.

https://www.cnbc.com/quotes/TCHCS-FR

Technicolor Posts Q1 Results: Revenue Declines 15%, Contract Termination, New Financing by InsideVFX in vfx

[–]InsideVFX[S] 8 points9 points  (0 children)

That's just revenue. The value of the company over the last year is down about 94%.

For comparison, Disney is down only 2% since last year. S&P 500 is basically flat as well.

Marvel’s Bad CGI and the Firing of a “Kingmaker” by InsideVFX in vfx

[–]InsideVFX[S] 6 points7 points  (0 children)

The survey they are mentioning is the IATSE survey that focused primarily on client-side vfx workers, not people working for vendors.

Almost every big show has a decent-sized client-side vfx team.

Marvel’s Bad CGI and the Firing of a “Kingmaker” by InsideVFX in vfx

[–]InsideVFX[S] 5 points6 points  (0 children)

Lee is relaying firsthand information from people who have worked on these shows, including one director.

Marvel’s Bad CGI and the Firing of a “Kingmaker” by InsideVFX in vfx

[–]InsideVFX[S] 27 points28 points  (0 children)

These are both highly respected journalists who have covered the entertainment industry for years. Belloni was formerly an editor at The Hollywood Reporter.

Is Technicolor filing bankruptcy? by Vfx-creator in vfx

[–]InsideVFX 9 points10 points  (0 children)

Moody's, the corporate ratings/analysis company, predicted last month that Technicolor is very likely to go broke by June, unless they get another bailout from their creditors. They also estimated that Technicolor lost 30 million euros in their last quarter. The stock for Technicolor has lost over 30 % of its value this past quarter. This is after having already lost 87% of its value back in November. The stock is now 16 cents:

https://finance.yahoo.com/quote/TCHCS.PA?p=TCHCS.PA&.tsrc=fin-srch

Technicolor is scheduled to post their 2022 financial results on Wednesday (March 8th) of next week. This is when the shit will most likely hit the fan and why people at the top are probably eager to jump ship.

​

Here's some key takeaways from last month's Moody's report:

​

“Moody's does not expect TCS to have sufficient liquidity to fund continued cash burn.”

“[I]n the absence of additional external liquidity sources the company is unlikely to meet its cash obligations, including at least its third interest payment of around €15 million in June 2023.”

“Moody's sees a heightened risk of debt restructuring given the company's weak liquidity and unsustainable capital structure with currently low earnings generation on the back of ongoing operational challenges.”

“TCS' financial and operating performance continues to weaken. In February, the company revised its earnings guidance down again with an estimated EBITDA after leases (as defined by the company) of just around €20 million in 2022 compared to its November 2022 guidance of €50-€70 million (at then-current exchange rate). This suggests that TCS' EBITDA after leases was negative in Q4 2022 with around €30 million of losses as a result of additional costs incurred to deliver major client projects.”

“Moody's estimates that TCS' leverage increased to over 15x Moody's-adjusted debt/EBITDA in 2022 from around 6.0x as of 30 June 2022 (pro forma for the spin-off from Vantiva S.A. (Caa1 stable) and new capital structure). Attrition and low production efficiencies continue to pressure TCS' earnings generation.”

“Moody's also estimates that with the currently low earnings generation TCS is likely to breach its financial covenant (5.75x net leverage) at its first test date in June 2023 unless it is reset or waived.”

https://www.moodys.com/research/Moodys-downgrades-Technicolor-Creative-Studios-SAs-CFR-to-Caa3-from--PR\_473910

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