1. "Weinstein Company announces bankruptcy plans
NEW YORK: Disgraced Hollywood mogul Harvey Weinstein's former company has announced it will file for bankruptcy, complaining that talks with frontrunner investors to buy the troubled studio had collapsed, leaving it with "no choice" but to go to the wall.
The Weinstein Company said that it had failed to reach a deal with an investor group led by Maria Contreras-Sweet, a former Obama administration official, for a reported US$500 million despite a last-minute push to make the deal palatable to New York prosecutors.
State attorney general Eric Schneiderman in New York, where the studio is headquartered, filed a lawsuit against the firm on Feb 11, fearing that the imminent sale could leave Weinstein's victims without adequate redress.
Schneiderman said any deal should embody three principles: adequate compensation for victims, protection for employees and the removal of executives who had been complicit in Weinstein's misconduct for 12 years.
In a two-page letter to Contreras-Sweet dated on Sunday, the company's representatives said they had worked "tirelessly" to accommodate Schneiderman's principles.
It revealed that they had sacked David Glasser, the former chief operating officer whom had been earmarked to stay under the buyout, but whom Schneiderman said had covered up years of Weinstein's abuse."
Mine oh mine. Who would hv thot a sex scandal of old can bring down a "king" n its empire in the USA. Where a President survived many such scandals!
Indeed an unique country n simply fascinating!!
2. "KUANTAN: Malaysia will distribute a total of RM6.3 billion (US$1.61 billion) to around seven million eligible people as part of a programme to help the country's lower-income community.
Payment of the 1Malaysia People's Aid (BR1M) will start from Monday (Feb 26) in three stages, announced Finance Minister Mohd Irwan Serigar Abdullah.
"For example, those who are eligible to receive RM1,200, we will pay RM400 first and the rest will be paid in the second and third phases," he said during an event at the Sultan Ahmad Shah Convention Centre on Sunday.
BR1M was first introduced in 2012 by Prime Minister Najib, with a payment of RM500 for households earning below RM3,000. This has gradually increased throughout the years with a handout of RM1,000 in 2016 and RM1,200 for this year.
On Sunday, Najib said that the Barisan Nasional government has fulfilled 97.6 per cent of its promises made during the last general election's manifesto.
"Our promise (made) five years ago in the Barisan Nasional (BN) manifesto, we will increase BR1M to RM1,200 and within that period, the promise was fulfilled. We will not make a promise if we think we cannot keep it," he said."
Giving to the poor without any expectation is bad news. The handout may become an entitlement n the recipients develop dependency on it n a clutch mentality formed!
Giving should follow the principle of: teaching one how to fish instead of just giving them fish!!
May our neighbour remains peaceful n prosperous.
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