Meanwhile, SVB’s parent company is filing for Chapter 11 bankruptcy to sell off its non-bank assets and raise cash. #banking #money #news #abcnews...(read more)
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The Broadway community has been rocked by recent news of bank failures, as several major financial institutions that have traditionally funded Broadway productions are now struggling to stay afloat. Bank of America, Citigroup, and JPMorgan Chase have all been reported to have seen significant declines in their profits and financial stability, leaving many production companies scrambling to find alternative sources of funding. This has led to a rise in the number of small, independent production companies seeking crowdfunding or private investment to cover the costs of their productions. However, while this may seem like a viable solution, it is important to note that Broadway productions can require millions of dollars to produce, and without the backing of a major financial institution, many of these shows may not make it to the stage. Additionally, the decline in funding from banks has also led to a decrease in the number of new productions being produced. This is especially concerning for the Broadway industry, which relies heavily on new and exciting shows to generate buzz and attract audiences. Moreover, the closure of several Broadway theaters due to the COVID-19 pandemic has only exacerbated the financial struggles of the industry, making it even more difficult for production companies to secure funding. Despite these challenges, the Broadway community has remained resilient and has continued to produce shows in new and innovative ways. Many productions have turned to streaming platforms to reach audiences, while others have opted for socially distanced outdoor performances. As the Broadway industry continues to adapt to these challenges and find new ways to create and produce shows, it remains to be seen how the financial struggles of major banks will impact the future of the industry. For now, it is clear that Broadway production companies will need to be creative and resourceful in order to navigate these uncertain times. https://inflationprotection.org/after-recent-bank-failures-broadway-productions-are-reportedly-in-a-rush-to-secure-funding/?feed_id=85009&_unique_id=642e504817123 #Inflation #Retirement #GoldIRA #Wealth #Investing #11 #abc #bank #bankruptcy #Broadway #Chapter #failures #for #funding #news #productions #p_cmsid2494279 #p_vidnews97940605 #recent #scramble #Silicon #Valley #BankFailures #11 #abc #bank #bankruptcy #Broadway #Chapter #failures #for #funding #news #productions #p_cmsid2494279 #p_vidnews97940605 #recent #scramble #Silicon #Valley
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