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Gibson Brands has filed for Chapter 11 bankruptcy protection amid what the company has called a “devastating” financial fall. The announcement was made Tuesday morning. As part of the filing, the company said it will kill its Innovations unit, which makes Phillips headphones, speakers and other electronic accessories. A federal judge will be required to sign off on the plan. Sixty-nine percent of lenders have given their support, but other vendors could potentially object to the plan and demand liquidation – causing Gibson to go out of business. Gibson has factories in Nashville, Memphis, and Bozeman, Montana. They employ more than 875 people.   686

HBO announced Wednesday its new streaming service, which launched earlier this year, will be carried on Roku and PlayStation 5.HBO says that the app is now available on the PlayStation 5. Roku users should be able to find the app starting tomorrow.HBO Max is one of many new streaming platforms that have launched in recent years in the wake of Netflix’s massive success. Other services such as Disney+, Peacock, Prime Video and entered the fray. In addition to HBO Max’s library of HBO TV programs, the platform has plucked shows from other networks, most notably “Friends.”“We believe that all entertainment will be streamed and we are thrilled to partner with HBO Max to bring their incredible library of iconic entertainment brands and blockbuster slate of direct to streaming theatrical releases to the Roku households with more than 100 million people that have made Roku the No. 1 TV streaming platform in America,” said Scott Rosenberg, Senior Vice President, Platform Business, Roku. “Reaching mutually beneficial agreements where Roku grows together with our partners is how we deliver an exceptional user experience at an incredible value for consumers and we are excited by the opportunity to deepen our longstanding relationship with the team at WarnerMedia.” 1280

Here's what's happening in the world of politics Saturday, Aug. 11, 2018.Congressman Collins suspends reelection campaign after insider trading charges— New York Republican Rep. Chris Collins will not seek reelection following charges of insider trading earlier this week.In a statement, Rep. Collins wrote it would be in the best interests for constituents that he suspend his reelection campaign."After extensive discussions with my family and friends over the last few days, I have decided that it is in the best interests of the constituents of NY-27, the Republican Party and President Trump's agenda for me to suspend my campaign for re-election to Congress."Wednesday, federal prosecutors charged Collins, his son, and another man with 13 counts of securities fraud, wire fraud, and false statement from the insider trading scheme around Australian pharmaceutical company Innate Immunotherapeutics Limited.Read more.North Korea continues to reject US proposals on denuclearization— North Korea has turned down repeated US proposals on denuclearization, CNN reports.The US has reportedly made "specific proposals for starting and proceeding to the end point of fully verified denuclearization," including a timeline, all of which have been rejected.North Korea has reportedly considered the proposals "gangster-like."President Trump met with North Korean leader Kim Jong Un in a June summit. The summit, however, produced no timetables, milestones, or promises, and instead, vague promises.Read more.Immigration lawyer for Melania Trump's parents pushes back on President's rhetoric— The immigration lawyer for First Lady Melania Trump's parents is calling President Trump's hardline stance on "chain migration" family visas "unconscionable.""It's unconscionable to scare people into believing that," the attorney, Michael Wildes, said Friday on CNN. "Imagine this, people will work harder and love more, and do more for America knowing that their loved ones, their immediate relatives, their parents, their children ... to say you can bring one relative and not another relative ... I can understand that some of them may be in jeopardy, and you may want to retool an antiquated immigration system. It looks weird to have a lottery system. But chain migration? No. Family reunification."Melania Trump's parents, Viktor and Amalija Knavs, were granted US citizenship Thursday.Read more. 2440

General Electric is under such financial stress that new CEO Larry Culp is slashing the troubled conglomerate's 119-year-old dividend to just a penny a share.GE revealed on Tuesday worse-than-expected results and a billion accounting writedown for its beleaguered power division. Culp plans to split up the power division to accelerate a turnaround.The company also announced that the SEC and Justice Department are investigating the charge, which reflects the deterioration of businesses GE has acquired. The news adds to GE's mounting legal problems and helped send the stock to a nine-year low in volatile trading.In a bid to fix GE's debt-riddled balance sheet, Culp announced the company will cut its quarterly dividend from 12 cents a share starting in 2019. By paying just a token dividend, GE (GE) will save about .9 billion of cash per year.Analysts had been anticipating a potential dividend cut, though not one of this magnitude.It's an especially painful move for a company that long viewed its stable dividend as a source of pride. But years of bad decisions forced GE to halve its dividend last November for just the second time since the Great Depression. The dividend cuts deal a blow to the many GE retirees and mom-and-pop shareholders who long relied on the cherished payouts."We are on the right path to create a more focused portfolio and strengthen our balance sheet," Culp said in a statement.Culp, who was suddenly named CEO on October 1, acknowledged during a conference call "this is not a quarter that we're particularly proud of." 1572

Getting interrupted by a telemarketing call or a robocall is annoying. Plus, when there is one robo call, another is sure to follow minutes later.  Whether it’s your landline or your cellphone, the Nomorobo service claims it has stopped more than 670 million robocalls and counting.Mary Lee Chin is a believer.  She uses Nomorobo because she used to get nervous when she received robo calls at night, assuming something had happened to her kids. She was already on the "Do Not Call" list, but it wasn’t screening all telemarketing calls. So, she decided to sign up for Nomorobo.The FTC recognized Nomorobo as the winner of its robo challenge, a competition to find new ways to fight back against these annoying calls.Nomorobo weeds out the telemarketer scams, but allows school closings, doctor's office reminders, prescription pickups and weather warning calls to still come through. "It is wonderful, wonderful technological application to free your life up from really annoying calls," said Chin.It’s easy to sign up for the service. You can create an account by downloading the app on your computer or smartphone. You then type in your number and you're good to go. Just know if you don’t like the service, you can turn it off anytime you want. If you have a landline it is free and for cellphones it’s .99 a month.  1380

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