AMC Theaters expected to file for bankruptcy

storewanderer
Posts: 14379
Joined: February 23rd, 2009, 3:54 pm
Has thanked: 2 times
Been thanked: 298 times
Contact:
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by storewanderer »

BillyGr wrote: May 9th, 2020, 1:11 pm
storewanderer wrote: May 7th, 2020, 7:19 pm
veteran+ wrote: April 30th, 2020, 7:05 am And to boot, the Governor is directing "officials" to NOT report cases and deaths accurately and/or incomplete.
I heard from a different news source which may or may not be accurate that certain states in the east and west coast somehow have a financial incentive to over-report COVID-19 deaths. I don't quite understand how that would work.

Maybe if the coasts over-report and the middle states under-report it will all net out?
Perhaps to do with getting reimbursed for those who are diagnosed with this that didn't have coverage from insurance (or have limited coverage)? Thus, if they can make it look like a virus related treatment, they are guaranteed to get paid for doing it and not have to chase the individual (or family if it becomes a fatal case) to get that money?
That is what I heard. There are financial incentives to report deaths at COVID-Related if possible. So people who are hospitalized due to other pre-existing conditions who contract COVID (whether they contract it before they get to the hospital or after they get there...) are counted as a COVID death. It inflates the numbers.

So far 1/3 of total COVID deaths in the US are from nursing homes. There's an industry that needs to get some serious monitoring. How many other deaths in these nursing homes every year due to viruses spreading in them like wildfire? Probably a lot. Too bad it took COVID to bring this to everyone's attention.
BillyGr
Store Manager
Store Manager
Posts: 1579
Joined: October 5th, 2010, 7:33 pm
Been thanked: 58 times
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by BillyGr »

storewanderer wrote: May 10th, 2020, 10:31 am
BillyGr wrote: May 9th, 2020, 1:11 pm Perhaps to do with getting reimbursed for those who are diagnosed with this that didn't have coverage from insurance (or have limited coverage)? Thus, if they can make it look like a virus related treatment, they are guaranteed to get paid for doing it and not have to chase the individual (or family if it becomes a fatal case) to get that money?
That is what I heard. There are financial incentives to report deaths at COVID-Related if possible. So people who are hospitalized due to other pre-existing conditions who contract COVID (whether they contract it before they get to the hospital or after they get there...) are counted as a COVID death. It inflates the numbers.

So far 1/3 of total COVID deaths in the US are from nursing homes. There's an industry that needs to get some serious monitoring. How many other deaths in these nursing homes every year due to viruses spreading in them like wildfire? Probably a lot. Too bad it took COVID to bring this to everyone's attention.
And an unfortunate situation, but perhaps not so easily preventable.

At this point, most places don't know exactly how the virus came in, but many had it occur some time after visitors were no longer allowed (so that doesn't seem a likely way).

There may have been cases where new residents entered already having it, which may not have been known, due to the time it sometimes takes for symptoms to develop. The question is, could they have a way to move existing residents so all new ones were together for a time (kind of an in-house quarantine) and keep employees only with that group?

Also quite possible that employees had it without knowing and passed it on before they showed symptoms either. Not sure how that can be prevented, short of having the employees never leave (which is probably not practical most times).

Just seems to be a tough thing to keep from having happen, which when combined with a group that is particularly likely to have severe issues if they do get it makes for the bad results which have been seen (though there have been a few that did well surviving it - perhaps they need to get some of the plasma from those patients to use, as they seem to have something very good to allow them to make out so much better than would have been expected).
storewanderer
Posts: 14379
Joined: February 23rd, 2009, 3:54 pm
Has thanked: 2 times
Been thanked: 298 times
Contact:
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by storewanderer »

jamcool wrote: May 10th, 2020, 8:37 am Can’t they get the money from their owners?
Bankruptcy laws and corporate structure make it so they don't have to do that. Target took the Canadian version of bankruptcy up in Canada when the US operation had plenty of money. Comp USA took bankruptcy when Carlos Slim had plenty of money in his businesses in Mexico. Numerous other examples of foreign owned entities taking bankruptcy in a non-home country when they have a ton of money in their home country.

Easier to just let a failing country's business take bankruptcy.
Brian Lutz
Store Manager
Store Manager
Posts: 1425
Joined: March 1st, 2009, 5:51 pm
Location: Piedmont Triad, NC
Been thanked: 56 times
Contact:
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by Brian Lutz »

https://komonews.com/news/business/prep ... e-theaters

As of this coming Friday, AMC expects to have 98% of its theaters open again, as most of its theaters in California will be allowed to reopen. Still no word on Regal reopening theaters though
storewanderer
Posts: 14379
Joined: February 23rd, 2009, 3:54 pm
Has thanked: 2 times
Been thanked: 298 times
Contact:
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by storewanderer »

Brian Lutz wrote: March 22nd, 2021, 5:02 pm https://komonews.com/news/business/prep ... e-theaters

As of this coming Friday, AMC expects to have 98% of its theaters open again, as most of its theaters in California will be allowed to reopen. Still no word on Regal reopening theaters though
We will see how that goes. Without much to draw customers in I don't know why anyone would go to a movie theater at this time. And in the future I think the new movies will be delivered through other means. I don't expect these theaters to come back at a level close to where they were before. We will see...
SamSpade
Store Manager
Store Manager
Posts: 1568
Joined: September 13th, 2015, 4:39 pm
Has thanked: 374 times
Been thanked: 57 times
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by SamSpade »

Here, the showings at Century (Cinemark) were quite sold this past weekend. These theaters are the ones with large motorized recliners that have 6+ feet between rows, and they will block out seats next to your party once you buy seats. Of course, that means in some of the smaller auditoriums they were sold out quickly.

For whatever reason, it appeared Disney is having a disagreement with Cinemark as neither local multiplex was showing "Raya and the Last Dragon," but they did have the new WB movies that have been released in theaters and on HBO Max. Their other fare was actually more of the small/art house fare, which was interesting to see.

The other local cinemas that are operating (one AMC, one independent multiplex) were showing the Disney studio film, but most theaters here remain closed. There was a delay related to Oregon restricting theaters from allowing "in theater dining." That was removed March 1 but it appears that many operators are continuing to wait for our vaccination rate to increase before reopening. I've only "heard crickets" when it comes to Regal though, our largest exhibitor by far.
storewanderer
Posts: 14379
Joined: February 23rd, 2009, 3:54 pm
Has thanked: 2 times
Been thanked: 298 times
Contact:
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by storewanderer »

The open Cinemark in Reno which opened as soon as Nevada allowed them to as part of a limited reopening pilot that only certain locations were part of is deserted most afternoons/evenings since it reopened. Traffic is off 90%+ from previous at the particular location I go by fairly often. Of course they have also cut the number of showtimes down; they start later and the last show is much earlier than before. Not sure if the other locations are doing better or what is happening with the 2 Galaxy properties in Sparks.
Alpha8472
Posts: 3929
Joined: February 24th, 2009, 8:55 pm
Been thanked: 79 times
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by Alpha8472 »

I have noticed that in Northern California, the cinemas have decent business now on weekends. They are limited in capacity, but people are going back to see movies. The die hard fans that do go, really seem to go all out. They are buying lots of fresh hot popcorn, and other foods that they have missed. Cinemas make most of their money from concessions. I think that it is a good start. If more good movies were to come out, then there really would be crowds at the cinemas again.

I got my vaccination, and I have full confidence in seeing movies now. I just need more movies to interest me.

I choose the luxury cinemas with the leather recliners and the extra leg room over the old fashioned stadium seats. If I am going to see a movie, I want the best experience. The unremodeled cinemas stuck in the past do not seem to be getting as much business.
Post Reply