Hugh Hefner on verge of Bankruptcy

[Modee]

Man, things are rough all over!
COED Magazine » Bye Bye Bunnies: Hefner Facing Possible Bankruptcy


Then again, I'm doing just fine, so what's the problem?


The way I see it he's just overextended. His main asset is about ten million shares of PLA, but the value of these has evaporated down to about $11.5M, and who knows how much is pledged against loans. Given that PLA was ten times higher just a year ago, maybe he owes more money than what his shares are worth.

He has a salary of a million a year, plus whatever he makes off his TV show, but has to pay $700K per year rent on the Playboy mansion, which is owned by PLA. Since I'm sure he blows through the show income on just paying his staff and hangers on, that leaves but $300K to support what's left of the Girls Next Door (recently supplanted by the Twins from Hell) and his Wife Across the Street (Kimberly Conrad). So? So, where's gas, where's tolls? $300K is not enough to support their hard to handle lavish lifestyle. Come to think of it, it couldn't really support mine either and I'm not pulling such a long train and caboose.

The moral of the story? If there is one. Polygamy is expensive!

[Modee]

I guess he started charging people admission to the Playboy Mansion parties - like up to $50,000. per ticket. If it works, that should help.

[Modee]

The old boy isn't exactly a cheap date himself. He travels with his entire staff no matter where he goes, and unlike rock stars who travel with an entourage and then pass out after they've ingested enough booze or drugs, Hef stays awake long enough to be catered to in style. He may not care any longer about owning things, but he spends. I approve of spending, if you can support the lifestyle that is.

[Modee]

I'm sure that the original reason he put the Playboy Mansion in the corporation's name was so that he could write off all the parties and events as "promotions" and have them paid for by the corporation, but it is now backfiring as he owns no property and has to pay rent.

To some extent though, things like the parties and shows like "The Girls Next Door" are promotions and are good for business. Playboy is trying to sell a lifestyle not just nudie images.

Main problem is that I guess people into porn these days are more into the hard core. I've always preferred the Playboy and Penthouse stuff over hard core (I just want to see naked chicks, no guys), but apparently most of the porn world disagrees.

[Modee]

Kendra just left.