Update 3/30: Looks like our hero, Sir Branson, may be one of the folks interested in taking over the Playboy franchise. While Virgin refuses to comment on the speculation, we can already picture the synergies. Imagine boarding a Virgin flight and finding the flight staffed with Playmates. That would truly be Premium Service.
Forget bailing out those stupid automakers. Does the country really need another generation of Chevy Malibu's and Mercury Gran Marquis? I say hell no. However, what we need to do is make sure that Playboy and their iconic girls next door don't go under. With revenues shrinking and profits as non-existent as a centerfold's college degree, Hugh Hefner and company are in serious financial trouble. Saddled with $100 million in debt and gloomy forecasts, it is rumored that Playboy Enterprises is looking to sell itself for $300 million, a significant premium to it's current market cap of less than $100 million (the company's enterprise value - that's market cap plus debt less cash is about $170 million). No one seems to be biting at the rich asking price especially considering the poor state of the business.
It would be a real shame if the company eventually goes into bankruptcy. The magazine articles REALLY are good and I can't believe that someone can't make money off the huge library of sexy content and the brand's marquis. If Playboy does go the Chapter 7 route, I guarantee you that a certain group of devilish young hotshots will be putting together a consortium of investors to pick of some assets. I've always wanted a gazebo.
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