Is Gene Ross right? Is it 50 cent prices that are driving some company owners to the looney bin?? Deep throat has been laying low, but I have my hands on the camera and ears open listening for bombs. Stay tuned kids!
Porn Valley- Nelson over at Legend Video wrote some of the funniest p.r. releases imaginable. But no more. That's because Nelson, who did P.R. over there, among 10 employees were let go by Legend Video as the $15B a year porn business claimed more victims.
There were rumors also floating around that Legend is up for sale but that doesn't seem to be the case. The story also on the street is that one of the owners of Legend, Jack Richmond, had some kind of mental breakdown and is taking the entire summer off. The other owner, Bruce, told people from one company that Jack won't be in this summer. The further story is that Jack's wife had to take him to get some psychiatric help because he had a panic attack. Adding to Legend's apparent woes is the fact that both owners sold off their luxury cars. Jack had a Ferrari Modena 360 Spyder and Bruce had a Bentley Continental GT.
The Grand Vizier comments: "The theory is that the Factory Home Video 50 cent pricing has killed the industry. The companies are hitting a cash crunch and loads of product is being returned. The new release business is a disaster. They're all getting killed. But Legend is definitely not up for sale, although they're downsizing in other areas. It's a big deal now if you're going 500 to 800 pieces. That's $5,000 to $8,000. What happens if you do a project for $17,000? When catalogue was $3 to $5 you made it up on the back end. Now as catalogue is going 60 cents to a dollar, how do you fight it? Rumor even has it that Vivid is re-using their scenes. The multi-billion dollar business? Yeah, if you're counting the brothels in Amsterdam.
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