All Things Considered with Alex Cohen

Daily Dose - Ciclavia, Giants v Braves and MGM bankruptcy plan

October 7, 2010 -- I'm planning on spending Sunday on my rollerskates, taking advantage of 10-10-10, the date that will feature all sorts of events around the world, including one in LA called Ciclavia. The event is based on a tradition in Colombia where the streets are filled with cyclists and pedestrians instead of cars.

Aaron Paley helped put together the event. He told KPCC's Larry Mantle that planners have tried to ensure that drivers won't be too inconvenienced. Take a listen:

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For more information on the event, click here.
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If you've been listening to Marketplace and All Things Considered this week, you may have heard that I sorely disappointed Kai Ryssdal yesterday when I shared the score of the Phillies game on air. If you were listening very closely, you probably picked up on the fact that I'm a Giants fan.

I hope my team does well tonight, but I don't have any bets on it... But Gavin Newsom does. The mayor of San Francisco has placed a bet with Kasim Reed, the mayor of Atlanta about the outcome of the playoff series. The loser will hoist the winning city's flag over the losing team's City Hall next week. The losing mayor must also play host, welcoming the winner to his city for a personal tour.

The five-game National League Division Series begins tonight in San Francisco. Go Giants!

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Today, film studio Metro-Goldwyn-Mayer Inc. announced that it has begun seeking its creditors' approval on a prepackaged bankruptcy plan. According to the plan, MGM will exchange more than $4 billion in debt for equity in a new company that has rights to the James Bond franchise and the upcoming two-part movie series "The Hobbit.''

Privately held production company Spyglass Entertainment, a partner in blockbusters like "Star Trek'' and "G.I. Joe:Rise of Cobra,'' will contribute some assets and merge two subsidiaries into MGM for a 4.69 percent stake in the company. Creditors would hold 95.3 percent of the company after it exits from Chapter 11.

Only approved holders of secured debt as of October 4 will be allowed to vote. Voting continues until Oct. 22, when the company plans to file for bankruptcy and exit the court process in about 30 days.

After exiting bankruptcy, Spyglass co-founders Gary Barber and Roger Birnbaum will serve as co-chairmen and CEOs. And for full disclosure, I served as flowergirl at Roger Birnbaum's wedding when I was four years old.

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