Financial Troubles
At the end of 2008, Redstone financial troubles started when billionaire Sumner Redstone had to dump $400 million of nonvoting shares.
It was released that National Amusement planned to sell $390 million of notes in another attempt to refinance a large part of the company's bank owed debt.
Read more about this topic: National Amusements
Famous quotes containing the words financial and/or troubles:
“In full view of his television audience, he preached a new religion—or a new form of Christianity—based on faith in financial miracles and in a Heaven here on earth with a water slide and luxury hotels. It was a religion of celebrity and showmanship and fun, which made a mockery of all puritanical standards and all canons of good taste. Its standard was excess, and its doctrines were tolerance and freedom from accountability.”
—New Yorker (April 23, 1990)
“Be thou our guard while troubles last,
And our eternal home.”
—Isaac Watts (1674–1748)