Last week, we discussed the power of music to influence your purchases and bankruptcy in Worthington, MN. The music that businesses typically play during the holiday season and other festive times throughout the year is often referred to as “muzak.”
This nickname comes from a company that specializes in gentle, instrumental background music. The company, called Muzak, likely created some of the sounds you’ve heard in waiting rooms and the elevators.
However, though Muzak’s music can damage your wallet during the holiday shopping season, this company has gone through their own financial struggles. Muzak filed for Chapter 11 bankruptcy back in 2009. So, here are a few interesting facts about Muzak’s bankruptcy filing to consider while bobbing your head to their instrumental tunes:
- History: Muzak has been around since 1934. Although they’re best known for their instrumental works, their company has also explored the genres of soft rock and pop.
- Reach: According to the company’s Chief Executive, Muzak’s tunes reach approximately 100 million people every day.
- Bankruptcy: Although Muzak entered bankruptcy without a plan in place, they reduced their debt by $230 million dollars in the course of a year.
- Recovery: Currently, Muzak operates in three separate divisions: media, sensory branding, and technical systems. They have recovered from bankruptcy and still deliver the head bobbing, instrumental tunes in the background of your nearest department store or elevator.
Although bankruptcy can be frightening, Muzak is proof that it’s possible to recover from financial troubles.
In Worthington, MN, the same is possible. With the help of the professionals at Behm Law Group Ltd., filing for bankruptcy can start you on a new path towards financial success in 2016. Soon, your financial troubles can fade into the background, just like some smooth, instrumental muzak.
For more information about your personal bankruptcy filing this holiday season, contact the professionals at Behm Law Group Ltd.
You’ve likely visited a number of stores in Marshall, Minnesota this holiday season. Though stores often look similar to each other this time of year, decorated in red, green, silver, and gold, there’s another similarity between these stores that you may not have noticed: the music playing in the background.
Sure, it’s common to tap your feet or nod your head while strolling through a store. But there’s an industry behind the music you hear this time of year, and that industry wants you to buy, buy, buy! For many folks—especially those in debt or filing for bankruptcy—this can be a dangerous trick.
So, pay attention to those tunes! Here are a few ways that companies are using music to impact your holiday bills, debt, or bankruptcy filing this season:
- Manipulative Music: During the holiday season, stores often play only uplifting, positive, and holly jolly tunes for shoppers. These types of songs make you more likely to spend larger quantities of money, thus increasing debt and the potential for holiday bankruptcy.
- Slow Shopping: Music in stores is also occasionally slowed down, which makes customers feel as though less time has passed since entering the store. As a result, shoppers will take more time strolling through all the aisles and perusing potential purchases.
- Instrumental Inspiration: Stores also play instrumental versions of popular songs. These songs can be played fast or slow, depending on how managers want shoppers to behave inside their stores. If you find yourself pushing your cart quickly to keep up with the music, be wary of frivolous spending!
- Muzak Melodies: Background music, such as that played in stores, is often called “muzak.” This name is taken from a company famous for their soothing instrumental melodies. Though the purpose of their tunes is to increase customer expenses, the company actually filed for bankruptcy themselves in 2009. Still, the nickname has stuck!
If you’re in debt or filing for bankruptcy this holiday season in Marshall Minnesota, be wary of manipulative holiday music. Though it can be fun to tap your foot to the tunes while shopping, be conscious of how it’s impacting your overall holiday budget.
For help with your bankruptcy filing this holiday season, contact the professionals at Behm Law Group Ltd. today!
Last week in Owatonna, Minnesota, we discussed the importance of filing for bankruptcy prior to the expensive December holidays, such as Christmas. This week, a number of businesses across the United States are doing exactly that.
A notable company is Rdio Inc., which is based out of San Francisco, California. This company is a free streaming service, much like Pandora or Spotify, with the option for ad-free listening to paid subscribers. They have been experiencing financial issues, and recently filed for bankruptcy. On Friday, however, Pandora offered Rdio.inc $75 million dollars to purchase the company entirely, thus expanding their company and assisting Rdio with some of their financial struggles.
Which other companies are working through or filing for bankruptcy before the holidays? Let’s take a look:
- Energy Future Holdings Corp: This company, based out of Texas, is currently asking a bankruptcy judge for permission to pay bonuses to their employees.
- Walter Energy: Based in Birmingham, Alabama, Walter Energy is presently struggling to pay employee benefits such as pensions. Tensions have risen amongst workers at Walter Energy, which means that employees are threatening to strike if their benefits are not paid.
- Freedom Communications Inc: This publishing group based in Santa Ana, California, filed for bankruptcy earlier this week. The Tribune Publishing Company, which is also based in California, is currently interested in purchasing this bankrupt company.
- Colt Defense LLC: This gun making company is making a bankruptcy-exit plan at the moment, which will allow it to successfully recover in the future.
Though it can be frightening to take the plunge and file before the holidays in Owatonna, Minnesota, it is important to file as soon as possible. There are many people, and many organizations, struggling with bankruptcy this holiday season. Why prolong your financial issues into 2016?
To get started on your bankruptcy filing, contact Behm Law Group Ltd. today.
It’s finally December in Mankato, Minnesota! That means it’s time to start prepping for your office celebrations, traveling for family events, and filling up your calendar with festive activities. With so much going on, most people’s schedules become especially hectic this time of year.
However, bankruptcy firms tend to have quieter Decembers than most. Oftentimes, potential filers do not want to disrupt the holiday season with thoughts of debt or bankruptcy, or their schedules become too busy to begin a filing. Who has time to work on a filing, between running to the mall and planning holiday events?
Though it’s understandable to want to wait until 2016 to file for bankruptcy, it may be important to address your filing before the holiday season. If your finances are in trouble going in to the holiday season, they will still be in trouble afterward. Rather than waiting to address the issue until after the tree is decorated, presents are opened, and carols are sung, it’s best to address the problem immediately.
If you’re struggling with debt in the Mankato MN area and have been considering bankruptcy, now is the time to address your bankruptcy filing. For additional information about starting a filing and examining your financial situation this holiday season, give Behm Law Group, Ltd. a call today.