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Many industry insiders and cinephiles alike predicted that Joel Souzas Rust would simply remain unfinished, that its only legacies would be the tragic death of 42-year-old cinematographer Halyna Hutchins, which occurred on set, and the complicated legal proceedings that followed. However, despite Souza’s own misgivings, he completed the project. The Western film will see a limited U. S. release on roughly 150 screens beginning today (Friday, May 2) thanks to Falling Forward Films. Souza has been making the press rounds to explain this decision, which he says the Hutchins family supports, despite her mother making comments to the contrary. Here’s a recap of the tragic events and a look at why filmmakers have decided to release it now. What happened on the set of ‘Rust’? According to Vanity Fair, Souzawho both wrote and directed Rustfirst got the idea for the film in 2019 when driving around with his two sons. He worried about what would happen to them if he weren’t around to raise them. He could not have known how close that would be to coming true. When speaking to the Guardian, he mused, I wish I never wrote the damn movie. Souzas regret stems from a series of bad decisions that led to a prop gunheld by actor Alec Baldwindischarging a live round on, October 19, 2021, outside Santa Fe, New Mexico. Baldwin maintains that he did not pull the trigger, while a forensic report found otherwise. The bullet that killed Hutchins went through her chest and lodged in Souzas shoulder, inches away from his spine. He recovered, but has said that the joint still acts up, a physical reminder of the trauma of that day. How did the legal fallout impact the film? There were many debates over who exactly was responsible for the loss of life. Assistant director Dave Halls took a plea deal after failing to check the prop, resulting in six months of probation. Hannah Gutierrez-Reed, who served as the films prop armorer, was convicted of involuntary manslaughter and sentenced to 18 months in prison in 2024. The same year, charges against Baldwin for involuntary manslaughter were dismissed due to evidence being mishandled, as Reuters reported. Souza was never prosecuted. Why is ‘Rust’ being released now? At the time of the tragic events, only half of the movie was completed. Even Souza had doubts about finishing it but says he ultimately wanted to share Hutchinss final work with the world. We worked very closely together,” Souza explained to Vanity Fair. “The work she was doing was her best work, and for it to just vanish . . . After initially speaking out against the producers of the project, Hutchinss husband, Matthew, reached a settlement and joined as an executive producer in 2022. Another reason Souza wanted to complete the film was so Hutchins’s son Andros could see his moms work. Filming resumed on April 20, 2023. Bianca Cline stepped in as cinematographer to help finish Hutchinss vision. Souza not only dedicated the movie to Hutchins but also gave her second billing, which is not a standard industry practice. Souza maintains that the family wanted the film finished. However, Hutchinss mother, Olga Solovey, has taken issue with Baldwins actions after her daughters death. She reportedly refused to attend the films 2024 premiere at the Camerimage Film Festival. Alec Baldwin continues to increase my pain with his refusal to apologize to me and his refusal to take responsibility for her death, Solovey revealed in a statement to Deadline last year. Given that Rust is only getting a limited release in a reported 150 theaters, it is unlikely that ticket sales will amount to a big profit. (A typical movie opens in around 2,000 to 4,000 theaters.) It is also being simultaneously released on streaming services Amazon Prime Video, Apple TV+, and Fandango at Home thanks to Decal Releasing. According to reporting from the New York Times, this is to maximize profits, which are going to Hutchinss husband and son as part of the settlement. What is ‘Rust’ about? In a bitterly ironic turn of events, the plot of the film centers on an accidental shooting. Lucas Hollister, played by Patrick Scott McDermott, believes he is shooting a wolf that is threatening his home, but the bullet from his rifle instead kills a neighboring rancher. Because Lucas and the rancher had a disagreement, no one believes it was not intentional. The young boy is imprisoned until his grandfather, Harland Rust, played by Baldwin breaks him out. The parallels to real life are not lost on Souza. The movie is about what its about: the consequences of violence,” he explained to the Guardian. “Theres a real anti-gun aspect to it.” While Rust might not be a commercial success, the larger conversation it continues to spark about safety and accountability could be its greatest legacy.
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E-Commerce
Vacation rental platform Airbnb on Thursday forecast second-quarter revenue largely below Wall Street estimates and signaled softening demand in the U.S. as an erratic trade policy hammers consumer sentiment and sparks worries over growth. Shares of the company fell more than 6% after the bell, set to add to the year-to-date decline of about 7%. The company expects second-quarter revenue between $2.99 billion and $3.05 billion, the midpoint of which is below analysts’ estimates of $3.04 billion, according to data compiled by LSEG. Over the last two months, Delta Airlines warned travel demand has “largely stalled”, while hotel operator Hilton indicated travelers were in a “wait-and see” mode, as President Donald Trump’s on-again off-again tariffs take a toll. Airbnb Chief Financial Officer Ellie Mertz said on an earnings call that guests were booking trips closer to the check-in date, indicating that the booking window was growing shorter. Booking window refers to the number of days between the reservation date and actual arrival and a shorter booking window points towards increased consumer uncertainty and caution in travel spending. Nights and experiences booked during the first quarter rose 8% to 143.1 million on a global basis. Excluding North America, bookings were up 11% from a year earlier. The U.S. comprises a vast majority of the San Francisco-based company’s North America business, which contributes about 30% to nights booked on its platform. Airbnb said it expects average daily rate, or the rental revenue earned for an occupied room per day, to remain flat in the second quarter and core profit margin to be slightly down from a year earlier. It also expects moderation in the year-over-year growth rate of the nights booked in the current quarter from the first. Total revenue for the first quarter rose 6% to $2.27 billion, compared to analysts’ estimates of $2.26 billion. However, net income slumped 41.7% to $154 million due to higher headcount, write-downs of certain historical investments in privately held companies and lower interest income. Aishwarya Jain, Reuters
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E-Commerce
Home ownership is receding further out of reach for most Americans as elevated mortgage rates and rising prices stretch the limits of what buyers can afford.A homebuyer now needs to earn at least $114,000 a year to afford a $431,250 home the national median listing price in April, according to data released Thursday by Realtor.comThe analysis assumes that a homebuyer will make a 20% down payment, finance the rest of the purchase with a 30-year fixed-rate mortgage, and that the buyer’s housing costs won’t exceed 30% of their gross monthly income an often-used barometer of housing affordability.Based off the latest U.S. median home listing price, homebuyers need to earn $47,000 more a year to afford a home than they would have just six years ago. Back then, the median U.S. home listing price was $314,950, and the average rate on a 30-year mortgage hovered around 4.1%. This week, the rate averaged 6.76%.The annual income required to afford a median-priced U.S. home first crossed into the six figures in May 2022 and hasn’t dropped below that level since. Median household income was about $80,600 annually in 2023, according to the U.S. Census bureau.In several metro areas, including San Francisco, Los Angeles, New York and Boston, the annual income needed to afford a median-priced home tops $200,000. In San Jose, it’s more than $370,000.Rock-bottom mortgage rates turbocharged the housing market during the pandemic, fueling bidding wars for homes that pushed up sale prices sometimes hundreds of thousands of dollars above a seller initial asking price. U.S. home prices soared more than 50% between 2019 and 2024.The U.S. housing market has been in a sales slump since 2022, when mortgage rates began to climb from their pandemic-era lows. Sales of previously occupied U.S. homes fell last year to their lowest level in nearly 30 years. In March, they posted their largest monthly drop since November 2022.It’s not all bad news for prospective homebuyers.Home prices are rising much more slowly than during the pandemic housing market frenzy. The national median sales price of a previously occupied U.S. home rose 2.7% in March from a year earlier to $403,700, an all-time high for March, but the smallest annual increase since August.In April, the median price of a home listed for sale rose only 0.3% from a year earlier, according to Realtor.com.Buyers who can afford current mortgage rates have a wider selection of properties now than a year ago.Active listings a tally that encompasses all homes on the market except those pending a finalized sale surged 30.6% last month from a year earlier, according to Realtor.com. Home listings jumped between 67.6% and 70.1% in San Diego, San Jose and Washington D.C.As properties take longer to sell, more sellers are reducing their asking price. Some 18% of listings had their price reduced last month, according to Realtor.com.“Sellers are becoming more flexible on pricing, underscored by the price reductions we’re seeing, and while higher mortgage rates are certainly weighing on demand, the silver lining is that the market is starting to rebalance,” said Danielle Hale, chief economist at Realtor.com. “This could create opportunities for buyers who are prepared.” Alex Veiga, AP Business Writer
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E-Commerce
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