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What Happens When a Bank “Cuts Ties” With a Customer That Owes Money?

Court Jester

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The Deep Freeze Story

The above doesn't even include my later adventures at DC Video in Burbank in 2016.
But yes, exactly as you said, and we baked and baked and baked to coax one more pass out of the 45 year old tapes.

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Thanks for sharing that story, I enjoyed the read, it brought back some old memories. Some old names too from the past in there. Modern Videofilm, Dubs Inc. Compact Video, Complete Post. I remember a time long before many of those places were bought up by Technicolor or Deluxe, back when there were dozens of top quality post production facilities in Hollywood. Also AME (Andy McIntyre), Encore, Vidfilm, Anderson, Hollywood Digital--- many more, and all capable of archiving content from old 2 inch Quad masters. As your story describes, original "edited" 2 inch Qaud masters were edited on a splice block in between the horizontal sync pulse and found by using a microscope-- long before there was electronic editing available. Therefore, when it came to old Quad masters you often had better luck dubbing them off of the protection master copies (when available)-- as there were no areas of the tape which had been spliced and then attached with mylar tape to come apart 30 years later as the tape ran across the spinning video head. A lot of Quad masters not that old got eaten up within a few years.

Like film, videotape has pretty much gone away. Still a lot of tapes out there of all types including legacy formats. But even now Hollywood has moved past HDCAM-SR as well. It just costs too much on thinner margins to have remained with the older tried and true technologies, and the many technicians it took to keep those machines running, not to mention vaulting all of those elements. Everything now all digital file based from start to finish, but I miss the old days of sound and videotape engineers. Like steam trains, I like all the moving parts.

Yep, did a lot of baking AND scraping of 2 inch tape in my day. Never recorded any quad tape, but a lot of playback for archiving, especially to D1 back in the 90s


Here is a great video describing what we are talking about, less people think we are crazy

 

Kushinator

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The collections firms I know who have gone after my clients and chased them to my door do not settle. These darlings collect money like their children’s cancer treatment depends on it. You give them their money. All of their money. Period. Otherwise they sue and go for execution of wage garnishments, bank levies and judgment liens which chase you for decades. And heaven help you if you signed a promissory note against actual real estate pledging it as collateral like Trump did. You have doomed yourself. They would eat Trump’s lunch.
Most collections purchase debt between 50¢ and 80¢ on the dollar and profit even if they don't collect in full. As stated, Trump's properties that collateralized these loans are not worth what they were just 4 years ago. I'd wager they restructure before calling in any loans and seizing properties that are not only less valuable but will be a tough sell.
 

Allan

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I presume it means the same thing as when a credit card company cancels your line of credit when you still have a balance left owing. That does not mean you do not owe them for the borrowed money. The note still stands. They will just not lend you any more, and will expect you to pay what you owe them.
This is what it means. What it means for Trump is dire. The certain death knell for a company is unavailable capital.
 

Mircea

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Do the loans get forgiven?
No. You are contractually obligated to pay the debt, whether it is a loan, a negative balance on your checking/savings account, or a credit card.

How do the terms of the loan get changed by one party, (call in the debt?)
The terms of a loan cannot be changed unilaterally.

If your loan, auto, mortgage, or cardholder agreement has an acceleration clause, then the total amount owed can be demanded.
 

calamity

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Do the loans get forgiven? How do the terms of the loan get changed by one party, (call in the debt?) Are the loans sold to anothe financial institution? I have had bank loans, (mortgage, auto, personal, etc,) nothing at this level...

Usually the bank sells the loan to another lender, often at a discount to its stated value. But, with Trump, only Ricky the Leg Bender would buy. So, this is a good one to watch develop.
 

Checkerboard Strangler

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Thanks for sharing that story, I enjoyed the read, it brought back some old memories. Some old names too from the past in there. Modern Videofilm, Dubs Inc. Compact Video, Complete Post. I remember a time long before many of those places were bought up by Technicolor or Deluxe, back when there were dozens of top quality post production facilities in Hollywood. Also AME (Andy McIntyre), Encore, Vidfilm, Anderson, Hollywood Digital--- many more, and all capable of archiving content from old 2 inch Quad masters. As your story describes, original "edited" 2 inch Qaud masters were edited on a splice block in between the horizontal sync pulse and found by using a microscope-- long before there was electronic editing available. Therefore, when it came to old Quad masters you often had better luck dubbing them off of the protection master copies (when available)-- as there were no areas of the tape which had been spliced and then attached with mylar tape to come apart 30 years later as the tape ran across the spinning video head. A lot of Quad masters not that old got eaten up within a few years.

Like film, videotape has pretty much gone away. Still a lot of tapes out there of all types including legacy formats. But even now Hollywood has moved past HDCAM-SR as well. It just costs too much on thinner margins to have remained with the older tried and true technologies, and the many technicians it took to keep those machines running, not to mention vaulting all of those elements. Everything now all digital file based from start to finish, but I miss the old days of sound and videotape engineers. Like steam trains, I like all the moving parts.

Yep, did a lot of baking AND scraping of 2 inch tape in my day. Never recorded any quad tape, but a lot of playback for archiving, especially to D1 back in the 90s


Here is a great video describing what we are talking about, less people think we are crazy

Shit, Dubs Inc screwed us from the git-go!
They did a remarkable job of making a bad situation even worse.
But the rest, Modern Videofilm, Compact Video, Complete Post, Premore, Encore, Vidfilm, Anderson, Hollywood Digital, CFI, Pacific Ocean Post, I've been to all of them and I've used every one of them and have even worked some long term projects at a few.
My union experience was sadly the most UN-creative gig imaginable, back in the days before cable and satellite were dominant I was a Z-1 On Call Picture Editor with IATSE Local 776 Motion Picture and Videotape Editor's Guild (now called Local 700) and my job was butchering lovely feature films to fit the standard 88 minute "two hour" time slots frequented by shows like "Saturday Night at the Movies" or "The ABC After School Special" and the like.
 

Court Jester

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Shit, Dubs Inc screwed us from the git-go!
They did a remarkable job of making a bad situation even worse.
LOL, yep, that was their reputation. Low ball price, and low quality result to match.

But the rest, Modern Videofilm, Compact Video, Complete Post, Premore, Encore, Vidfilm, Anderson, Hollywood Digital, CFI, Pacific Ocean Post, I've been to all of them and I've used every one of them and have even worked some long term projects at a few.
Sad how the changing business models and shrinking margins forced so many of those places out after they became consolidated into larger media corporations. A few remain, but even Fotokem after the older managment all died off or retired isn't the same as it was, and they have been one of the few independent post houses which can still do decent film content servicing in the all file based era. I fear covid shutting down so much production that this year more media content servicing houses will shut down or go away.


My union experience was sadly the most UN-creative gig imaginable, back in the days before cable and satellite were dominant I was a Z-1 On Call Picture Editor with IATSE Local 776 Motion Picture and Videotape Editor's Guild (now called Local 700) and my job was butchering lovely feature films to fit the standard 88 minute "two hour" time slots frequented by shows like "Saturday Night at the Movies" or "The ABC After School Special" and the like.
LOL, yeah I saw a lot of "butchering" too. Every time I would see a purchase order to create some watered down "airline version" of some good movie I would want to vomit. If they ever tried to show a Tarrantino film on domestic airline it would probably end up edited down to 3 minutes. When I see is the MPAA warning stating, "....to run in the time allotted and for content", then I know I'm not going to want to waste my time watching. Thank God for cable channels like TCM and IFC which have the courage to broadcast films in their originally intended format and content without fear of having advertisers go ape shit.
 

Checkerboard Strangler

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LOL, yep, that was their reputation. Low ball price, and low quality result to match.



Sad how the changing business models and shrinking margins forced so many of those places out after they became consolidated into larger media corporations. A few remain, but even Fotokem after the older managment all died off or retired isn't the same as it was, and they have been one of the few independent post houses which can still do decent film content servicing in the all file based era. I fear covid shutting down so much production that this year more media content servicing houses will shut down or go away.




LOL, yeah I saw a lot of "butchering" too. Every time I would see a purchase order to create some watered down "airline version" of some good movie I would want to vomit. If they ever tried to show a Tarrantino film on domestic airline it would probably end up edited down to 3 minutes. When I see is the MPAA warning stating, "....to run in the time allotted and for content", then I know I'm not going to want to waste my time watching. Thank God for cable channels like TCM and IFC which have the courage to broadcast films in their originally intended format and content without fear of having advertisers go ape shit.
So okay, one last thing:
What is your axe? Editor? Camera Dept? or ???
Union brother or no?
 

Court Jester

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So okay, one last thing:
What is your axe? Editor? Camera Dept? or ???
Union brother or no?

Videotape op, telecine assist, syndication mastering with some light editing, standards conversions, DRS (digital restoration), SD, HD, subtitling, and then eventually forensic encoding, transcoding, and other file based workflows --mostly using Final Cut Pro-7. Wore many hats, including managing post production workflows. Then retired back in mid 2000s after my company sold, but continued to do some temp work/project work intermittently for a few more years until I was too old and easily aggravated being around anyone under age 40 who couldn't look up from their cell phones to pay attention to their jobs for more than 2 minutes. Now I just argue at strangers on the innerwebz and watch over my perfect green lawn. So basically old fart.

All non union independent post production facilities BTW.
 
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