Film Subsidies Scam the Losers “We the Taxpayers” How It Works and the History

A1 A Granholm Richardville Bill Signing 1This all started under Jennifer Granholm in 2008 with Senate Majority leader Randy Richardville onboard from the onset. Once Jennifer left office ‘ole Randy keep it alive and well also introducing new legislation as to keep this scheme going.

Michigan Film Credit Secrets – The Players

http://michiganfilmcreditsecrets.blogspot.com/

Raleigh Film Studio Misses a Second Consecutive Bond Payment Taxpayers on Hook

That means a second payout by the Michigan State Employees Retirement System, which guaranteed most of the bonds and already covered most of the studio’s $630,000 interest payment to bondholders last month.

http://www.crainsdetroit.com/article/20120304/FREE/303049967/cut-when-film-credits-dried-up-so-did-raleighs-payments

Michigan movie studio defaults on bond payment, state pension funds to cover costs

A Michigan taxpayer funded movie studio that opened just ten months ago is in default on an $18 million state-issued bond.

http://michiganradio.org/post/michigan-movie-studio-defaults-bond-payment-state-pension-funds-cover-costs

The Studio the Taxpayers Built with Help from Politicians

http://michiganfilmcreditsecrets.blogspot.com/

Michigan-Subsidized Film Studio Fails; State Pension Fund Had Guaranteed Loan

Michigan was among the most generous, offering to cover 40 percent of qualified expenses, an outlay that cost Wolverine State taxpayers nearly $100 million a year. Acting on numerous reports from a variety of sources concluding that the incentives were wasteful and ineffective.

Former Gov. Jennifer Granholm in 2009 made the state employee pension funds the guarantor of the $18 million in bonds sold to help build the $80 million Raleigh Film studio, located inside the abandoned facilities of the old General Motors Centerpoint truck complex. Republican Senator Randy Richardville was on board from the onset!

http://taxfoundation.org/blog/michigan-subsidized-film-studio-fails-state-pension-fund-had-guaranteed-loan

A. Alfred Taubman (Retired), (Zip code: 48302) $5000 to MICHIGAN DEMOCRATIC STATE CENTRAL COMMITEE on 11/04/09

Linden D. Nelson (Nelson Ventures/Owner), (Zip code: 48301) $5000 to MICHIGAN DEMOCRATIC STATE CENTRAL COMMITEE on 11/19/09

Linden D. Nelson (Nelson Ventures/Owner), (Zip code: 48301) $10000 to MICHIGAN DEMOCRATIC STATE CENTRAL COMMITEE on 08/03/10

http://www.city-data.com/elec2/10/elec-BLOOMFIELD-HILLS-MI-10-part1.html

Michigan Politicians Shaft Taxpayers on Film and Studio Subsidies

Raleigh Studios investors include Birmingham businessman Linden Nelson; A. Alfred Taubman, the billionaire shopping mall developer; John Rakolta Jr., the CEO of Walbridge, one of the largest construction companies in the country.

Crony Capitalism at it’s worst that includes a “pay to play” scheme involving business leaders and politicians who all have personal gains to be made a little to no risk at the expense of the taxpaying citizens of Michigan. Linden Nelson and Alfred Taubman are “heavy campaign contributors” to the Democratic Party! State Senator Randy Richardville is the point man for these subsidies in the Michigan legislature as Senate Majority leader!

http://www.freep.com/article/20120318/BUSINESS06/203180485/New-film-studio-in-Pontiac-struggles-after-state-says-Cut-to-incentives?odyssey=mod%7Cnewswell%7Ctext%7CFRONTPAGE%7Cp

Team Richardville Brings in Former Granholm Staff Member

Amber McCann steps into the role of press secretary for Senate Majority Leader Randy Richardville (RINO-Monroe).

http://domemagazine.com/profiles/pro032511

Cost to Replace Lost Jobs with Michigan Film Subsidies: $39.4 Billion

http://www.michigancapitolconfidential.com/13582

Funding Questions Surround Hangar42 Studios Deal

http://www.michigancapitolconfidential.com/12806

Republican-led Legislature Votes Overwhelmingly to Continue ‘Big Hollywood’ Film Subsidy

SB 569 was originally passed by the Senate on Nov. 3. The bill’s sponsor is Senate Majority Leader Randy Richardville, R-Monroe, who previously said he would like to budget as much as $100 million for the film subsidy program. For the record Senator Richardville’s daughter works for these Hollywood “Fat Cat’s”! I’m sure there are no conflicts of interest here between those he is supposed to represent and (the taxpayers of Michigan)?

http://www.michigancapitolconfidential.com/16182

2011 Senate Bill 569: Revise film subsidies – Public Act 291 of 2011

Introduced by Sen. Randy Richardville (R) on July 13, 2011, to revise the state film incentive program, converting it into a straightforward subsidy program rather than an indirect one, with awards of up to 30 percent of the expenses a film producer incurs in Michigan. Reportedly the bill’s sponsor wants to increase the subsidies from $25 million already appropriated in 2012 to $100 million annually.

http://michiganvotes.org/2011-SB-569

$72 Million in Film Credits Not Reported by Film Office

http://www.michigancapitolconfidential.com/14711

Michigan’s ‘Hollywood Welfare’ Plan: Stylish Stars Trumping Taxpayers

When superstar actor George Clooney waltzed through Niles, Mich., last November to scope out a location for a new film the prospect of the taxpayers of Michigan paying 42 percent of his bills was apparently easier to swallow.

http://www.michigancapitolconfidential.com/15813

George Clooney Lends Support to Obama at Fundraiser in Geneva

No wonder President Obama called George Clooney a “good friend” in a recent interview with “Entertainment Tonight.” The actor is doing what he can to help the president win his re-election bid in November.

http://abcnews.go.com/blogs/entertainment/2012/08/george-clooney-lends-support-to-obama-at-fundraiser-in-geneva/

Granholm Says New Film Incentives Set Stage for Good-paying, Long-term Jobs for Michigan Workers

http://www.michigan.gov/som/0,1607,7-192–189548–,00.html

Michigan Taxpayers “Fleeced” with Movie Film Producer and Film Studio Subsidies Scheme

A report by the Senate Fiscal Agency found that the Film Movie Producer and Film Studio subsidies which work like a rebate toward qualified production expenses generate roughly 10 cents in new tax revenue for each dollar paid to filmmakers. In 2009, for example, the state spent $68.7 million on film tax credits but generated only $7.5 million in tax revenue from the film production activity, leaving the state with a net loss of $61.2 million.

http://latimesblogs.latimes.com/entertainmentnewsbuzz/2010/10/michigan-agency-focuses-critical-eye-on-states-film-tax-credits.html

Michigan-Subsidized Film Studio Fails; State Pension Fund Had Guaranteed Loan

Michigan was among the most generous, offering to cover 40 percent of qualified expenses, an outlay that cost Wolverine State taxpayers nearly $100 million a year. Acting on numerous reports from a variety of sources concluding that the incentives were wasteful and ineffective.

Former Gov. Jennifer Granholm in 2009 made the state employee pension funds the guarantor of the $18 million in bonds sold to help build the $80 million Raleigh Film studio, located inside the abandoned facilities of the old General Motors Centerpoint truck complex. Republican Senator Randy Richardville was on board from the onset!

http://taxfoundation.org/blog/michigan-subsidized-film-studio-fails-state-pension-fund-had-guaranteed-loan

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  1. #1 by hcg diet menu on March 24, 2013 - 6:44 pm

    What a great weblog on Film Subsidies Scam the Losers “We the Taxpayers” How It
    Works and the History | The Bain Report. Most Impressive!

  2. #2 by Sovereign Mary on January 8, 2014 - 12:19 am

    If anyone wants to subsidize the film industry .. (or anything else for that matter) then I suggest you start up your own private foundation and ask for donations. Stop committing Legal Plunder – by forcing taxpayers without their agreed permission to support your ornamental cause and venue and diminishing the fruits of their labor.

  1. House Cuts $25M State Film Subsidies in Proposed Budget – Not So Fast Say’s Richardville | The Bain Report
  2. Morning Breakfast Radio Show 06/04/13 |
  3. Political commentator Randy Bain joins the program to talk about film subsidies |

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