the economy

Thousands of Drunken Co-Worker Trysts in Jeopardy as Industry Cuts Back Holiday Parties

5:53AM STV | The odds that you remember the drunken, depraved glories of your employer’s past holiday parties are virtually nil, so most of Hollywood shouldn’t be too upset today to hear how the recession-to-be is affecting this year’s big industry fetes. Variety reports that Disney and Viacom won’t be celebrating at all, while other studios are scaling back their own events and even awards-season premieres to the extent their needy talent will allow. And if the global economic meltdown didn’t feel like a crisis before, wait until you hear how the caterers will be hit: More »

Sell High, Buy Lowbrow: Media stocks may …

6:00AM STV | Sell High, Buy Lowbrow: Media stocks may have crumpled Monday amid the biggest Wall St. bloodbath in 20 years, but World Wrestling Entertainment was determined to accentuate the positive. In a press release targeted at skittish investors, WWE took this opportune moment to point out its 9.4% dividend yield — “300% higher than the S&P average,” according to the company. “Given its strong balance sheet and cash generative businesses, WWE feels confident it can fund the dividend for the long term. The WWE considers itself a safe harbor in the current volatile marketplace.” But remember: Diversify! Keep a little cash in steroids, Spandex, turnbuckles and self-tanning spray, and America may ride this wave out yet. [The Live Feed] More »