Tuesday, November 12, 2013

Our Glorious Free Market System

It makes a body proud.

... [T]he state of the [movie] industry in California is in serious trouble and our Film and TV Tax Credit program just isn’t cutting it, politicians and studio execs said today at the Hollywood Chamber of Commerce’s second annual State of the Industry Conference.

“We need a game changer; this is a very incremental approach,” Paramount Studio Group President Randy Baumberger said of the annual $100 million lottery system program. “Virtually no feature films are shot in LA anymore. What producers need are commitment and consistency. What producers are looking for is to be able to plan out 3 or 4 years,” he added during a panel on keeping jobs in California. ...

Recent hearings in Sacramento have suggested that efforts to increase or extend the program will be a part of next year’s legislative agenda. Assemblyman Raul Bocanegra, D-Pacoima, chairman of the Revenue and Taxation Committee, assured the crowd at the Loews Hollywood Hotel that state lawmakers would move forward to increase the tax credit program. And Assemblyman Adrin Nazarian, D-Sherman Oaks, whose district includes the San Fernando Valley and Hollywood Hills, told the audience that “conversations are taking place now” to get an increase and an expansion to the program. ...

The cries of "Gimme, gimme, GIMME!" can be heard in all corners of tinseltown. Entertainment conglomerates have become much like Major League ball clubs. If they can't get government to subsidize their businesses, they will move their businesses someplace that will subsidize them.

It's the American way!


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