IACOCCA BE DAMNED!

IIPM set to beat economic slowdown

In his autobiography, the legendary Lee Iacocca postulated downturns do not touch the entertainment & restaurant industries. Pallavi Srivastava refuses to blink...

If you are an ardent reader of Page three pullouts – in fact, we guess even if you aren’t – you would have easily noticed in the past few months the sudden absence of super-big announcements of new projects being rolled out and actors being signed on, factors that have kept Bollywood buzzing for the last few years. Is this an indication of the fact that even tinsel towns get affected by economic downturns, Iacocca be damned? Yes, there are reports about numerous films being shelved, put on hold or failing to get buyers, but the question is, are these indications purely of economic downturn? Weren’t there always cases of films being shelved or put on hold?

For current records, Nagesh Kukunoor (the director of films like Iqbaal, Dor et al) seemingly has no takers for his film Aashayein starring John Abraham. Two movies of Salman Khan (one of T-series and one from Tips) have reportedly been put on hold. Himesh Reshammiya’s Gujju Bhai has been shelved by Studio 18 for now. Vipul Shah’s London Dreams’ deal with the Indian Film Company (IFC) for an exorbitant Rs.120 crore is rumoured to be facing a time glitch. T-Series CEO Bhushan Kumar has asked Director Pooja Bhatt to reduce the budget of new film Kajra Re. Even the much hyped multi-billion dollar Hollywood deals of Indian companies have not been left untouched. Ripest grapevine gripe portends that this years’ most talked about deal between ADAG and Hollywood legend Steven Spielberg is on hold too. And ADAG camp’s package deals with Indian producers like Vidhu Vinod Chopra, Farhan Akhtar, et al are also under the scanner.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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