Tag Archives: bankruptcy

This Man’s Life Savings Is In The Form Of Beanie Babies

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Bankrupt By Beanie Babies
"Bankrupt By Beanies"

We all though about it at one point or another. Okay, I did. Surely, Beanie Babies will be worth millions someday! Don’t you dare cut off that heart-shaped Ty tag! You could sell Patti the Platypus on eBay for probably thousands of dollars by 2010.

Unfortunately, such days have yet to come. Despite this disappointment, Chris Robinson’s family is instead seeking comfort in the knowledge that when the day comes when Beanie Babies make their comeback — and that day will come, dammit! — they’ll be prepared to cash in. Over the years, the Robinson family, primarily driven by Chris’s father, has collected between 15,000 and 20,000 Beanie Babies in the hopes that these toys would make nice college tuition funds for their five kids. This short documentary, by Chris Robinson himself, called “Bankrupt By Beanies,” is kind of cute but also sort of sad. Collecting Beanie Babies turned into an obsession for this man, but also proved to be a source of bonding for the family. And who knows, maybe some day Beanie Babies will get their second coming and the Robinsons will emerge victorious. [Boing Boing]

Rapper Young Buck Might Have To Sell His Name

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Bankruptcy  – it’s a bitch. For rapper Young Buck, his financial woes might force him to sell the rights to his rap name. How weird is that? It seems the former G-Unit rapper ran into a bunch of financial problems, and is now in a state of liquidation bankruptcy. As a condition of the bankruptcy, Buck’s name will go up for sale. He’s arguing that he needs to retain the name in order to obtain a new record contract and pay back some of the $11.5 million he owes? Will some other rapper buy it? Maybe an IRS agent? [Perez Hilton]

TLC’s T-Boz & Other Celebs Who Blew Their Fortunes

Say it ain’t so! TLC member T-Boz, one of the ladies who just a few years ago sang about wanting “No Scrubs,” filed for bankruptcy today. T-Boz — real name Tionne Watkins — owes more than $768,000 to creditors, most of which is related to her $1.2 million home. Ms. Boz does have money coming in  – she makes around $11,700 a month in income and spends around $8,800 — but she hasn’t been able to make any headway on her nearly million dollars of debt. She’s also claiming that a portion of her outstanding debt is related to unpaid child support bills, totaling somewhere around $250,000. [TMZ]

Of course, T-Boz is hardly the only celeb to file for bankruptcy  After the jump, some other celebs who blew their fortunes.

Lady Gaga Had 5 Hits In 2009, But Was Still Broke

2009 was the year of Lady Gaga. Most of us probably assumed that she was rolling in dough when she embarked on her Monster Ball tour, but apparently, she was totally broke. “I actually went bankrupt after the first extension of The Monster Ball,” Gaga said. “And it was funny because I didn’t know! [I asked] ‘Why is every­one saying I have no money? This is ridiculous; I have five No. 1 singles.’ And they said, ‘Well, you’re $3 million in debt.’”

So, what caused her financial black hole? Keep reading »

Mexican Airline Stewardesses Pose In Calendar To Save Bankrupt Airline

Enough with the sexy calendars already! After Mexicana Airlines filed for bankruptcy this summer, air hostesses photographed themselves in a 2011 “sexy stewardesses” calendar to save their airline. They paid $8,000 out of their own pockets to create the $12 calendar, which is on its second printing. Last time I checked, keeping an airline afloat (er, up in the air?) is not supposed to be their problem, so it bugs me they resorted to posing pant-less to stay employed. At least these gals are enterprising, though, right?

[New York Daily News]
[Guanabee] Keep reading »

Is The End Of Crocs Near?

Fashionistas, prepare to rejoice. It may soon be to time to celebrate the death of your loathed Crocs. It seems that after selling more than 100 million pairs since 2002, the company is facing mega losses and is on the verge of going broke. In the last fiscal year, the company lost $185.1 million, cut 2,000 jobs, and has gained a debt it still hasn’t paid off. Five months ago, the company replaced the CEO with a man who specializes in brand renewal, but thus far there has been no spike in sales. Although the company plans on targeting specialized fields like caterers and medical professionals, if they don’t pay their debt off by September, they are dunzo. It’s the simple case of too much supply and no demand. [MSNBC]
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