Wednesday, May 16, 2012

The Middle Kingdom and Greenbacks

What's a little (potential) corruption between friends?

... Hollywood’s interest in China has grown with the country’s plan to build state-of-the art theaters and upgrade its film industry, moves that would also help fuel studios’ local theme- park and live-entertainment businesses. The country is letting in more foreign films, sharing ticket sales more equitably and encouraging ties to local producers. Reports last month of a U.S. Securities and Exchange Commission inquiry raised the question of whether studios’ progress would be interrupted. ...

The SEC sent letters to studios seeking information about dealings with certain officials, and possibly inappropriate payments, according to people with knowledge of the matter.

Studio officials decline to discuss the inquiry, some citing confidentiality rules. The letters were sent by the SEC in March, the New York Times reported earlier. ...

If there's dollars changing hands as our fine entertainment conglomerates jockey for the best spot to climb aboard the Shanghai gravy train, allow me to say that a little energetic back-scratching is what has always made America great. From the Guilded Age until today.

So here's to spreading the wealth. Especially when it's spread by the right people, for the right reasons.


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