China seizes CY Leung toilet rolls, ATV turns to crowdfunding, and Predicting the Year of the Goat
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China Seizes CY Leung Toilet Rolls
China’s authorities have seized the Democratic Party’s 7,600 toilet rolls and 20,000 packets of tissue paper bearing a graphic of CY Leung’s face from a mainland factory. The goods, worth about $100,000, were to be sold at the annual Lunar New Year Flower Market at Victoria Park to raise funds—both were best-selling items last year and had encountered no trouble with mainland authorities. The party said the confiscation was a violation of freedom of speech and shows that Beijing is increasingly clamping down on dissenting voices. Chinese authorities have also temporarily closed down the associated mainland factory.
Our take: That toilet paper was so useful!
ATV Turns to Crowdfunding
In addition to overdue staff salaries, ATV has also failed to pay its annual license fee and the accompanying penalty of $10.2 million. Executive Director Ip Ka-po’s new plan is to urge the public to invest $10,000 each in the company. If as many as 3,000 respond to his call, they would raise $30 million, enough to pay the money ATV owes. Legislator James To warned that without approval from the Securities and Futures Commission, any collective investment involving more than 50 people is against the law and the organizer could be subject to a maximum of seven years in jail. Ip had said that three “white knights” had expressed interest in buying the broadcaster. ATV could have its license revoked if it does not pay the license fees, due in two installments, by February 18 and March 18.
Our take: Sounds like a great investment!