I know I say it a lot, but FUCK AIG! On September 22nd, a week after the government gave these ass-holes $85 billion to essentially save their company, 70 of their top executives made a weekend trip to California to enjoy some sunshine and relax at a baller resort, St. Regis Monarch Beach. What’s the big deal you ask? The dick-heads at AIG spent almost $500,000 on this trip, and the money was pulled from the $85 billion they just received from the US government to save their asses from bankruptcy. The list of expenses and how they decided to spend the money blows my mind. $23,000 on spa treatments, almost $7,000 on golf, and a shade under $10,000 on room service. I’m just glad that as we are on the road to a global depression, these sons-of-bitches are spending money that was given to them to clean up their messes and hopefully save the economy on getting their nails done and playing golf. While thousands of Americans are loosing their homes and jobs, these guys spending our tax money on weekend trips to resorts that probably less than 5% of Americans could even afford to go to. If this is how AIG and other companies that received money are planning to use the funds, we either need to take that shit back, or be prepared to be even more fucked in the next couple of years.

Just yesterday I was commenting to an acquaintance over at the community radio station KZFR (where Some Guy hosts a mean rad radio show) that the doors of many businesses seem to be closing up. She asked for examples and I didn’t really have many, save The Underground chain record/porn/bong store here in Chico, the french fry / fish ‘n’ chips spot downtown called Pommes Frites. There are a few more businesses on the verge of closing down though, and all these businesses cater to those with a little extra income - disposable, some may say.

Well, for those who love their food fried and served from a faux-Irish themed chain restaurant, we have some bad news for you. The Bennigan’s Parent Company has filed for bankruptcy, and most of its locations (save the few independent franchise stores) have closed their doors today. I tried checking their Web Site, but either its too overloaded with traffic from the closing announcement, or they stopped caring about that shit and began letting it crumble months ago.

Applebee’s is STOKED.

Who didn’t see this one coming. In the one case that didn’t get fucked up last year (see Lohan, Hilton, etc. for the others), Michael Vick is currently serving his 23 month long ass raping jail sentence for conspiring to run illegal dog fights.  Well, apparently he’s in a little fiscal trouble too.

Vick has filed for Chapter 11 Bankruptcy due to his outstanding loans.  The 7 top creditors, consisting in part of Joel Enterprises, The Atlanta Falcons and numerous banks, are owed over $12.8 million dollars… which would be hard to pay off considering he’s not playing football anymore, just getting ass raped serving his jail sentence.

Although being happy at the expense of others is admittedly really lame, you have to feel warm and fuzzy knowing that dudes fighting pit bulls will eventually get whats coming to them.

Though the Velvet Rope has gotten inundated with n00bs and dudes whose qualifications as an “industry insider” are playing in a band for a few days back in the ’70s, sometimes it still provides interesting tidbits, such as this list of everyone TVT Records, who recently declared bankruptcy, owes money to. The list includes Nickelback frontman Chad Kroeger (who is owed $945.46), Aaron Spelling Productions (owed a whopping $0.86) and some lesser known folks owed a far more substantial amount of money, such as Kaye Scholer LLP, owed upwards of $4,000,000. Elsewhere in the thread there is much lulz to be found, for those interested in the inner workings of a failed record label. Perusal is recommended. 

What was, earlier this year, the last ditch, pull-in-case-of-emergency contingency option of declaring bankrupcy has becoming the reality for the city of Vallejo, whose city council voted unanimously last night to file for Chapter 9 Bankruptcy Protection:

The council and several speakers said the city simply will have no money on July 1 and cannot tell its employees to come to work because there is no money to pay them. Councilwoman Stephanie Gomes, an ardent supporter of the city’s filing for bankruptcy, said, “I want to make sure the City Council is in charge of this city and not those who comprise 80 percent of our general fund.” Countering the assertion that bankruptcy would tarnish the city’s image, Gomes said, “Who wants to move to a city that can’t address its problems?” Mayor Osby Davis said bankruptcy would be “a long, hard, difficult process.” “We will rise out of this darkness and we will shine again,” Davis said.

Good luck brah! In a stroke of utter coincidence…Vallejo’s most famous export, N2Deep is playing here in Chico tonight. POUR SOME OUT FOR THE HOMIES BACK IN V-TOWN RELLIE! Maybe they could help kickstart the local economy by opening a “Back to the Hotel” themed hotel. Could be a real winnar!

Anyone who lives in Northern California knows that there were only, in history, two good things about Vallejo: Marine World and N2Deep. They ruined Marine World years ago by turning it into a Six Flags and putting a bunch of ghey roller coasters everywhere, and, now that I think about it, N2Deep really wasn’t that cool (I mean “Back to the Hotel” is kind of the knock, but whatever). Long story short, Vallejo is basically a dump. Thus its not too shocking that Vallejo is boldly going where no other California city has gone: bankruptcy.

The city of Vallejo is on the brink of becoming the first California city ever to declare bankruptcy, City Council members said Tuesday. Vallejo may run out of cash as early as March, council member Stephanie Gomes said.

Gomes said the situation has been building for more than a decade. “This has been happening for quite a while. For 15 years the city council has been putting Band-Aids on the problem. (It has been) extending contracts and deferring payments for public safety to the next years as a way of balancing the current budget.”Public safety contracts for police and fire services make up 80 percent of the city’s general fund.”We’ve been spending more than we’ve been making for 20 years and it’s time to pay the piper,” Gomes said.

Like they say up, right up the I-80 in Vacaville: “Sorry ’bout cho luck!”