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Factors that negatively affect a company’s cash inflows and outflows
Published May 12, 2023
Updated July 7, 2023What are the Drags and Pulls on Liquidity?
The drags and pulls on liquidity are the factors that negatively affect a company’s cash inflows and outflows by determining a deterioration in its liquidity position.
A drag on liquidity exists when cash inflows lag, for example, because a company is facing trouble with the collection of its commercial credits. A pull on liquidity is generated when cash outflows happen too quickly or when a company’s access to commercial or financial credit is limited.Drags on Liquidity from Uncollected Receivables
It often happens that a company is willing to sell goods and services while accepting a delayed payment. However, sometimes companies face issues with the collection of their commercial credit, for example, because one or more customers are experiencing deterioration in their business.
For an analyst, the drags are often visible from an analysis of balance sheet trends and ratios. For example, a deterioration in days sales outstanding (DSO) is often an indication of negative developments acting as drags on liquidity.
Increasing levels of bad debt expenses are also a useful indicator to identify issues in the collection of receivables.Drags on Liquidity from Inventory Obsolescence
If a company’s inventory is turning obsolete, it will experience a drag on liquidity as the value of such inventory declines, turning into lower cash inflows than planned. Sometimes, such inventory can’t be sold or used at all, while in other cases, the company may need to sell it at significant discounts to the usual price.
Moreover, obsolete inventory may still occupy space, require labor, and generate storage costs that can be avoided. A good indication of increasing inventory obsolescence is often given by slowing inventory turnover ratios.Drags on Liquidity from Tighter Credit
If access to capital worsens or becomes more expensive, a company’s liquidity may worsen. Credit conditions vary due to the action of several factors, including:1. Changes in business fundamentals
Deteriorating fundamental trends, such as declining sales, falling margins, or poorer cash flow generation, are factors that would worsen a company’s creditworthiness. As a result, tighter conditions may negatively affect the company’s liquidity position.2. Industry trends
Sometimes, whole industries suffer, or are exposed to, unfavorable trends. As a result, credit conditions granted to the companies operating in such industries can worsen, triggering a deterioration in liquidity.3. Overall macroeconomic conditions
Bad trends in capital markets, rising interest rates, or recessionary environments are examples of macroeconomic factors that can negatively impact a company’s access to credit and worsen its liquidity position.Pulls on Liquidity from Early Payments
Granting commercial credit is common in many industries. It often implies that a customer is allowed to pay 30, 60, or 90 days after a purchase is made.
A company that pays its suppliers, creditors, or employees before the payment is due is creating a pull on liquidity. It is a commonplace among companies to hold payments until the due date without any anticipation of payments.Pulls on Liquidity from Trade Credit Pulls from Reduced Lines of Credit
As a supplier can reduce the amount of credit to a customer, banks can also reduce the amount of credit available to their customers.
Banks may decide to reduce the lines of credit to a company for many reasons:
Company-specific reasons, such as deteriorating business trends in the company or in the bank itself. In other cases, it can be a response to a customer’s poor track record of debt repayment.
The reductions may be mandated by governments or may be due to conditions in the credit markets, such as tighter access to funds from central banks.Solutions to Drags and Pulls on Liquidity
The drags and pulls on liquidity should be identified and corrected promptly, especially when significant. The measures that are taken obviously depend on the specific type of drag and pull involved.
Failure in collecting receivables can make it necessary to involve debt collection agencies and to make changes in the payment terms given to customers. In some cases, companies may stop allowing delayed payments to certain types of customers.
If obsolescence is becoming a problem, the company should find a way to monetize the obsolete inventory before it becomes a significant drag on liquidity. It may also need to rethink or refine its inventory management system or strategy if it contributes to the issue.
If a company expects credit-line restrictions in the future, i.e., as a result of worsening market conditions, it may try to open credit lines well above the actual current needs.More Resources
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Since its inception, Level has designed a protocol to serve as a functional alternative to centralized counterparty risk. After half a year of product testing, it’s finally time to expand and the Level DAO has determined that Arbitrum is the next ecosystem where Level will be deployed on.
Level’s success story
The level has experienced phenomenal growth. In just the first month, Level witnessed a notable $320 million in volume traded, generating over $400,000 in fees and bringing in more than 1,000 community members.
As a testament to the product–market fit they found, it took just 55 days for the ecosystem to hit $1 billion in trading volume, leading to collecting $8.3 million in fees during that time — going from strength to strength with over $20 billion traded in the first half of 2023 alone.
Impressively, the most significant daily trading volume was $339 million on April 14, 2023, accounting for around a third of the total volume across Perp DEXs (Delphi Digital).
A quick look at on-chain
Total volume: $17.4 billion, of which leverage trading volume accounts for $14.5 billion
Total collected fees: Less than $22 million
Interestingly, these collected fees are distributed to:
LLPs (supply-side revenue) — 45%
LVL stakers (protocol revenue) — 10%
LGO stakers (protocol revenue) — 10%
DAO treasury (protocol revenue, redeemable against LGO) — 30%
Reserved for protocol development — 5%
Assets under management (AUM): $30 million.
During this time, Level has established itself as the leading perpetual decentralized exchange (DEX) on BNB Chain, rivaling even the likes of GMX — a significant achievement considering the difference in total value locked (TVL) and market cap.
Setting itself apart from competitors, Level wrote its own codebase from scratch and pioneered the tranche system in DeFi. By leveraging its innovative dual tokenomics model (LVL and LGO), which perfectly fits a perpetual DEX platform, LEVEL has created a strong protocol growth value momentum-based model, reflected in the simultaneous growth of platform volume and treasury assets. This has resulted in achieving close to $10 million in treasury liquid assets.
Last but not least, Level is taking DeFi on-chain governance to the next level, with more than 19 DAO proposals submitted. This is truly decentralized governance, driving rapid iteration in product and incentive models for a fast-paced marketplace.
Even at a glance, Arbitrum looked like the most immediate choice for Level, and this sentiment resonated with the majority of its community.
All new possible chains were evaluated according to their:
Daily active users
Daily transaction volume
Arbitrum meets all of these criteria, securing itself as the fourth chain by TVL thanks to its deep liquidity and a DeFi-native user base. An equally important factor included the sustained growth of unique addresses in the network, even after the ARB Airdrop.
Many critics speculated that activity on Arbitrum would sink after the airdrop. Nonetheless, daily transaction volume on the network is steadily increasing, averaging around 1 million per day — close to its all-time high if one doesn’t take the airdrop period into account.
Considering these factors, it’s understandable why the DAO voted for Arbitrum, securing 53% of the total votes across four options.
Arbitrum is the home of DeFi, and a place full of open collaboration. The composable nature of DeFi on Arbitrum offers endless possibilities for new products and partnerships with other protocols. Some remarkable examples include:
Other derivatives (e.g., hedging, structured products, etc.)
Furthermore, this layer-2 protocol is a fantastic fit for Level, as it houses a native niche of perpetual DEX traders who can benefit from the ecosystem’s incentivized program for traders, shrewdly configured to drive protocol and treasury growth.
When it comes to future footprints, a key priority for Level protocol is for the DAO to steer Level’s journey toward exceptional growth. Further solidifying its position in the DeFi space, Level is actively seeking, discussing, and moving forward with several partnerships with additional tier-1 projects, enabling them to expand its reach and utility across the industry.
Level’s vision is to become a leading omnichain trading platform, and its recent expansion to Arbitrum marks the first step toward realizing this goal. Expanding its services into other DeFi sectors is another avenue being explored. The goal is to become a multi-chain liquidity aggregator where fragmented liquidity across different ecosystems can be unified in a single pool, allowing users to trade, swap and borrow seamlessly.
The level is excited to embark on this omnichain journey, transforming the way people engage with DeFi and revolutionizing their trading experience.
Step into the Level ecosystem
Some Google Premier agencies began receiving a surprise message yesterday: they will no longer have dedicated contacts for their accounts.
We were made aware of this later yesterday by Jeff Ferguson via a post on Twitter:What Information is Google Ads Providing? Is This Happening to All Google Ad Partner Agencies?
According to follow-up questions, this will be happening to the majority of agencies, but not all of them.
The rep did not further clarify the criteria for which agencies are and are not experiencing this.When Will Dedicated Service End?
When pressed as to whether an increase in spend would reverse this, there was no direct answer, just a reiteration that service will cease tomorrow, April 1.
Agencies affected by this can expect to receive these notifications today from their Agency Development team, if they have not already.Why Is Google Ads Pulling This Service?
No reason was given, though the form letter stresses it has nothing to do with the upcoming changes to the Google Partners program slated to launch in June of this year.
They are encouraging affected agencies to rely on the support line moving forward, noting that “things may change in the long run.”
This indicates this may not be permanent, but currently it’s the direction Google Ads is going.How Will This Change Likely Affect Agencies?
The hands-on relationship with assigned reps meant a dedicated person to contact for things like ad appeals, white listing into beta offerings, and a direct line for client questions.
This comes on the heels of Partner qualification changes announced in February, which included increased required spend levels, certification requirements for staff, and utilization of Google’s Recommendations in a given account.
We will continue to monitor updates as they become available.
A Google spokesperson provided Search Engine Journal with the following statement after publication:
“We recently made changes to Google representative support for our small and mid-sized agency partners. These changes are not related to the ongoing COVID-19 crisis. They are part of a routine review where we evaluate our support level for all agency partners. Status as a premier partner does not impact their agency representative status.”
One of the most common misconceptions people have about gaming on a PC or laptop is that you need to spend big bucks to get anything that’s actually worth gaming on. Maybe that was true some years back, but the sheer number of really nice, affordable gaming laptops in the market these days is great for gamers on a budget. The Lenovo Legion 5 (Rs. 73,490) is one such machine. Designed to handle most games you’ll throw at it, while also fitting in at a workplace, the Legion 5 aims to address people who are into gaming, but also want their laptops to pull double duty for work.Lenovo Legion 5 AR150H Specs
ProcessorRyzen 5 4600H @3GHz
GPUNvidia GeForce GTX 1650Ti with 4GB GDDR5 VRAM
Storage1TB 5400RPM HDD + 256GB PCIe SSD
Ports4xUSB 3.2 Gen 1 (one Always On), 1xUSB 3.2 Type-C Gen 1, Ethernet (RJ-45), Headphone / microphone combo jack
Battery60WhrDesign and Build
From the very first glance, the Legion 5 doesn’t shy away from what Lenovo designed it to be — a laptop built to fit into two categories of machines at once. It all starts off from the clean and minimal A-panel with the tiny ‘Lenovo’ badge on one edge, and the ‘Legion’ branding on the other. There are no unnecessary design-flairs here, and closed, the only reason to think this is a gaming laptop is the fact that it’s branded ‘Legion’.
Inside too, Lenovo has gone with an understated design — a display with narrow bezels around it, and a keyboard with a plain white backlight. All of this is wrapped in a relatively sleek, all matte-black chassis that makes this laptop a rather pleasant sight.
Lenovo has also built this laptop quite well. Where most budget laptops feel slightly weak at best and flimsy at worst, the Lenovo Legion 5 is definitely a refreshing change of pace. True, there’s still a bit of flex in the display, but the laptop doesn’t ever feel like it might not handle slightly aggressive to maybe abusive use; and believe me, I sometimes hit the keys really hard while typing and slam the lid shut far too often.Display
I have been using the Legion 5 as my daily driver for weeks at this point, and this 15.6-inch Full HD 120Hz display has not let me down. The thin bezels around the screen make for an immersive, if not entirely groundbreaking experience. The screen itself is decently bright, though I think the matte coating makes it slightly less gorgeous to look at than a glossy glass panel would. Don’t get me wrong, I’m not calling Lenovo out on this. If anything, I appreciate matte panels for the sheer amount of glare-reduction they do.
When this display goes dim, it goes really really dim. So much so that it’s nearly impossible to see what’s on the screen. But this has helped me with bingeing The Office as well as WandaVision without straining my eyes way too much.
Viewing angles are fairly decent here as well, and the display is good enough for most of anything you want to do on it.
I definitely appreciate the higher refresh rate which makes everything on this laptop appear smooth and fluid, and over-all, I can’t really find anything of import to complain about with this display.Performance
The Lenovo Legion 5 comes with a Ryzen 5 4600H paired with 8GB 3200MHz RAM, an Nvidia GeForce GTX 1650Ti GPU, 256GB PCIe SSD and a 1TB HDD. Pretty standard specs for a laptop in this price range. I do appreciate the combination of an SSD and hard disk here which means you get more storage space, but also the fast boot-up times that an SSD brings to the table.
Naturally, with specs like these, the laptop performs pretty well. Both work and play are handled pretty easily by this machine and I don’t really feel it lagging behind anywhere. Although I would recommend filling up that second empty SO-DIMM slot and upgrading the RAM on the laptop for a performance boost.
For gaming, I played a couple odd games on the laptop. In Far Cry 5, the laptop defaults to High graphics settings and the in-game benchmark showed frame rates ranging from 20 to 74FPS. That 20 frames per second point happened once in the benchmark, but it’s not a good sign. I switched graphics settings to Normal to actually play the game, and did not notice any frame drops or stutters. The in-game benchmark showed remarkable improvement as well, ranging from 52 to 84FPS, with an average of 67FPS which is fine for me.
In Horizon Zero Dawn, the laptop defaulted to Medium settings, but for some reason to 1366×768 resolution. Even so, the game was dropping frames, but changing the resolution to 1920×1080 seems to fix that. According to fraps, the game was running on an average frame rate of 74FPS which is good enough.
Other than games, the laptop also works really well in general. As I mentioned before, this has been my daily driver laptop for weeks, so I have spent a considerable amount of time browsing the internet and writing articles on this device and I have no issues with its performance in that regard either.
Overall, the performance here is decent. It won’t blow you away with anything really, but as a budget gaming laptop, the Legion 5 usually holds its own with gaming as well as work. I do wish there was more RAM here for a bit more future-proofing and better performance, but at least you get a second SO-DIMM slot to do that on your own if needed.Keyboard
The Legion 5’s keyboard looks quite similar to the ones found on other Lenovo laptops including the IdeaPad Gaming 3i. It has a similar keycap design, and the keyboard itself is nearly just as nice. The keys feel tactile and there’s ample travel. All of which results in a pleasing experience with the keyboard whether you’re typing for long hours (as I do), or gaming.
There’s also a full-size arrow key layout here — yet another thing I appreciate, and even a numpad. I personally don’t have much use of the numpad other than typing in my login PIN, but it’s one of those things that are nice to have, just in case.
There’s also a decently sized trackpad on the laptop which I didn’t find myself having any considerable trouble with. It comes with support for Windows gestures so you can use three and four finger gestures to perform various actions. Most often, I had a mouse connected with the laptop, so my use of the trackpad was limited for sure, but it’s a fairly responsive touchpad so if you need to use it, you won’t be left disgruntled by the experience.Lenovo Vantage
As it is with every Lenovo gaming laptop, you get the really useful Lenovo Vantage software here as well. This allows for certain controls over the Legion 5’s battery and performance settings, among other things.
Here you can view the CPU and RAM usage as well as an overview of your storage devices. I clearly need to clean out my SSD.
There are also options for Network Boost, Hybrid Mode, Touchpad Lock, and more. The ‘Thermal Mode’ setting allows switching between three performance profiles on the laptop — Quiet, Balanced, and Performance. Those names are pretty self-explanatory in what effect they’ll have on the laptop, and for the most part you won’t need to play around with these anyway; the Legion 5 does a fairly good job of handling thermal profiles on its own.
What I found really interesting (and this is not exclusive to the Legion 5) are the power tools in Lenovo Vantage. You can enable Rapid Charge here, if you’re going to be using the laptop for work and need a quick top-up. Alternatively — and this is what I mostly used — you can enable Conservation Mode which only charges the battery up to 60% so you can keep your laptop plugged in for gaming and other power-hungry use-cases.Speakers
They get quite loud, and, to my surprise, they even manage to produce some bass. I will obviously still recommend getting a pair of headphones to truly enjoy music, but these speakers can serve the purpose in a pinch. For other things, including watching movies, these speakers are actually fairly decent.Ports and Connectivity
Port selection on the Legion 5 is on point. The laptop’s chassis is surrounded by ports, including four USB 3.2 Gen 1 Type-A ports, one USB 3.2 Type-C port, an RJ-45 ethernet port, HDMI out, and of course, a power input along with a combo headphone/mic port.
The USB Type-A port on the left side of the laptop is an always-on port, so you can charge devices even when the laptop isn’t on, which might prove to be a useful feature for some.
Other than that, the laptop packs in support for WiFi 802.11ac (no WiFi 6 here) as well as Bluetooth 5.0. Sure this isn’t Bluetooth 5.1 or Bluetooth 5.2, but it’s alright.Battery
Lastly, the battery life. I normally tend to treat battery life on a gaming laptop as an afterthought. However, my opinion of this laptop is a dual-purpose work/play laptop, and when you think about work, you absolutely need a good battery life.
The Legion 5 comes with a 60Whr battery — not a very big number by any means. The company claims 4 hours of battery life on paper, which is about accurate if you’re sticking to the very basics of what you can do with this laptop. With my usual work-related tasks, the laptop lasts around 3-ish hours, which is nowhere near good, let alone excellent.
Still, this laptop screams a work/play aesthetic, and the battery life seems disappointing from that perspective.Lenovo Legion 5 — Should You Buy?
As much as I liked the Legion 5, making this an outright recommendation is complicated. There are just way too many laptops in this price bracket that offer similar things, or various trade-offs in some aspects to get better features in others. For example, the HP Pavilion Gaming 15 (Rs. 71,990) comes with the same Ryzen 5 processor, 8GB RAM, and GTX 1650Ti. However, it brings in a better 144Hz display while only offering a standalone 512GB SSD.
There’s also the Asus TUF Gaming F15 (Rs. 67,990) for anyone on Team Blue that brings an Intel Core i5 processor paired with 8GB RAM, 1TB HDD + 256GB SSD, as well as GTX 1650Ti graphics.
However, both of those laptops also look undeniably like gaming laptops, and if you want something that fits both gamers and work-usage, the Legion 5 is definitely a solid option to consider.
In a Google hangout, Google’s John Mueller answered a question about getting hit by the Google BERT update. Mueller discussed what BERT does and how that fits into ranking.Hit by Google BERT Update
A publisher or SEO described a situation where they saw a number of sites get hit by an update. They said that it seemed like about more than intent.
This is the question that was asked:
“We’ve seen some websites that were hit by Google BERT update and they still have not recovered. Was that update only about intent? Because it seems like it was about more.”
John Mueller responded that BERT is not an update that suddenly changes rankings.
“So, BERT is essentially a web of better understanding text. It’s not a ranking change in that sense.
It’s not an update… kind of an algorithm update that suddenly we rank things differently.”
What Mueller appears to be communicating is that BERT is not a part of ranking.
Then he explains what BERT really is:
“But it’s really about understanding text.
So it means that we work hard to understand when people enter queries in the the search results. In particular when these are long queries where we need to understand what is the context here, what is something that people are actually searching for within this query.”
Mueller explained that BERT is particularly about making sense out of long search queries. People are increasingly speaking search queries and in some cases those are longer questions.
The role of BERT, which Mueller explained, is to help make sense out of those search queries.
Mueller continues, now explaining how BERT helps Google understand web pages:
“And when it comes to pages themselves we try to figure out what are those pages actually about and how do those pages map to those specific queries that we’ve got.”
Related: Google BERT Update – What it MeansHow to Understand Google BERT
A way to think about what’s happening with BERT is that it’s a way to better understand web pages and search queries.
Maybe a way to understand BERT is by an analogy.
I wear glasses because I can’t see objects that are far away. Without my glasses I am unable to read the freeway road signs. With my glasses I can read the signs and understand when I need to slow down and prepare to exit.
So, BERT can be thought of as playing the role of making search queries and web pages more understandable.
Being able to see does not play a role in my decision to take one exit over the other. I know which exit I’m looking for. My glasses only help me to see the exit.
Similarly, BERT doesn’t play a role in the ranking process. It’s just interpreting web pages and queries, like my glasses enable me to interpret the road signs.
This is what John Mueller said:
“So it’s not a ranking change per se. It’s really about understanding the text on the page and the text that people enter in the queries.
And from that point of view, it’s not that websites get hit by this update. It’s really that we’re trying to understand what these pages are about.
And if these pages are such that it’s really hard to understand what they’re about, then users will have trouble with them and our search engine will also have trouble with them.”
Related: BERT Explained: What You Need to Know About Google’s New AlgorithmSuspect You Are “Hit” By Google BERT Update?
Now Mueller explains that what publishers think of as being “hit” by a BERT update, it’s usually something else.
What John Mueller said:
“Usually in the cases I’ve looked at where people say they were hit by this kind of update, it’s more that there were just general changes in search over time that also took place, and we make changes in search all the time.
So it’s not necessarily the case that because Google understands the pages better we suddenly decided to kind of penalize a set of individual pages.
Because we’re trying to understand these pages better, not try to understand what things people are doing wrong.”Takeaways
According to Google’s John Mueller, BERT shouldn’t be thought of as a ranking algorithm. He encourages publishers to think of it as a way to better understand search queries and web pages.
According to the official BERT announcement in October 2023, BERT affected 10% of search queries, particularly conversational queries, as I mentioned above.
Here’s what the announcement said:
“Particularly for longer, more conversational queries, or searches where prepositions like “for” and “to” matter a lot to the meaning, Search will be able to understand the context of the words in your query. You can search in a way that feels natural for you.”
Mueller’s answer is helpful because it clarifies that BERT is something apart from the ranking part of the algorithm and that it doesn’t target web pages for things that they’re doing wrong.
His answer also encourages publishers to look to other reasons why a page might have lost rankings, reasons beyond BERT.
Watch John Mueller answer the question:Citations
Oscar-Winner Michael Douglas on Acting, Choosing Roles, and Netflix At BU to receive Bette Davis Lifetime Achievement Award
Actor Michael Douglas was at BU Wednesday night to accept the Bette Davis Lifetime Achievement Award. He said that he and Davis both enjoyed playing villains.
Over a Hollywood career spanning more than 50 years and starring roles in such classic films as Wall Street, The China Syndrome, Fatal Attraction, and Wonder Boys, actor Michael Douglas has won nearly every award in the industry, including two Oscars and an Emmy. Less well known is the early stage fright that made him physically sick or that his father, legendary actor Kirk Douglas, thought his son’s college performances were, well, “terrible.”
Neither deterred him, Douglas told a crowd of hundreds gathered to hear him speak on Wednesday night at BU’s Metcalf Hall.
“I was a grinder,” said Douglas, now 74. “I kept at it.”
With an easygoing swagger and a crop of silver hair, Douglas was at BU to accept the Bette Davis Lifetime Achievement Award, presented by BU’s Howard Gotlieb Archival Research Center and the Bette Davis Foundation.
The award honored Douglas’ work and his “uncanny knack for choosing projects that reflect changing trends and public concerns.” Among past recipients are Oscar-winning actors Lauren Bacall, Susan Sarandon, and Geena Davis (CFA’79, Hon.’99).
During the ceremony, Gotlieb Center director Vita Paladino (MET’79, SSW’93) introduced Douglas as an intrepid actor and producer, one who was never interested in “taking the easy way out.”
It was Paladino who convinced the actor to donate his papers and other career memorabilia to the Gotlieb Center, including many items currently on display, such as the official Academy Award envelope and card naming him best actor for his portrayal of Gordon Gekko in 1987’s Wall Street, as well as personal letters and photos from his father and actor Jack Lemmon.
Douglas sat down for a conversation with Jeremy Hobson (COM’04), cohost of the NPR show Here and Now, coproduced by WBUR, prior to receiving his award. He told Hobson he enjoyed the Gotlieb exhibition, that it was “an emotional reminder” and a treat.
He said he thinks his career success can be traced in part to searching for scripts and stories that moved him, and that his interest first and foremost has always been in a movie’s theme rather than who he’d be working alongside.
Some of his biggest roles have been as villains, most memorably in Wall Street. Douglas says he’s still back-slapped for his depiction of a character who famously proclaimed that greed is good.
“People loved Gordon Gekko,” he said. “If I get one more drunk Wall Street guy coming up to me and saying, ‘You’re the man, you’re the man—I want to say, ‘Hey, he went to jail.’”
Many of Douglas’ characters from that era were alpha men who found themselves in situations that often ended badly. He said that during the initial release of Fatal Attraction, where he played a married lawyer whose one-night stand turns his life into a horror show, he realized his likeability was part of his appeal in such roles. Viewers laughed at the scene of him rumpling the bedsheets to make his wife think he’d slept at home. That moment, he said, prompted one of the producers to marvel at how viewers were inclined to forgive his character because they liked him.
“People will let you get away with a lot,” he said.
Several years ago, Douglas was treated for stage IV throat and tongue cancer. He said it was a difficult period, noting that two friends had died after being diagnosed with similar cancer.
He underwent chemotherapy and radiation, and went on to an Emmy-winning star turn as Liberace in the 2013 HBO biopic Behind the Candelabra, with actor Matt Damon. The Hollywood Reporter said his performance was “one of the two or three most electric and dialed-in performances he’s ever given on screen.”
In addition to the Bette Davis award, Douglas was scheduled to receive the Coolidge Corner Theatre Foundation’s Coolidge Award Thursday night. (Previous winners include Jane Fonda, Werner Herzog, and Meryl Streep.)
Douglas, currently starring in the Netflix series The Kominsky Method as a once sought-after acting coach to the stars now making a living teaching Hollywood wannabes how to audition for sitcoms and commercials, told the BU crowd that he has no intention of slowing down. (His father has worked on more than 90 films, and turns 102 next month.)
Asked if he thought Netflix and other streaming services were good for Hollywood, Douglas said his wife, Oscar-winning actor Catherine Zeta-Jones, has begun a series for Facebook Live called Queen America.
And he likes the way new media outlets are producing content in shorter time frames, he said. Behind the Candelabra was filmed in 30 days and picked up by HBO after a couple of major studios took a pass.
Douglas noted that last part with delight: “Screw you, studios, take that.”
Watch the trailer for The Kominsky Method here.
Megan Woolhouse can be reached at [email protected].
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