Nicki Finke’s site, Deadline Hollywood Daily, is a must-read around here because it doesn’t really cover the entertainment world as much as it lifts up the rocks around Hollywood and examines in fine detail all the various insects and vermin scurrying behind the scenes– many of whom have strong political connections (such as Hollywood super agent Ari Emanuel, brother of former ballet dancer turned White House Chief of Staff Rahm Emanuel, Secret Service code-named “Strawberry”).
Today, Finke uncovered a scheme to take part of the $45 billion in bailout money handed to Bank of America and funnel it into Dreamworks studios.
Specifically, this involves sending people to watch Monsters v. Aliens in 3-D by way of a Bank of America provided voucher, for the clear and expressed purpose of bumping up Dreamworks’ box office (and, thus, by extension stock price) for its opening day weekend.
Monsters v. Aliens? Sounds like a game of Scrabble between the Kennedys of Massachusetts and Pelosis of San Francisco (where HRH Princess Caroline proudly spells Armani or Prada for a triple word score, to great toasts of chilled chardonnay by all).
Here’s how the Bank of America scheme works:
(1) Dreamworks Animation President Lew Coleman = former Bank of America Vice Chairman and CFO Lew Coleman
(2) Bank of America received $45 billion in taxpayer bailout
(3) Bank of America is paying for upgrades to 3D viewings of Monsters v. Aliens
(4) In Chicago, 3D movie tickets cost about $5 more than seeing films at regular 2D screenings
(5) Bank of America is offering anyone with an email address an upgrade to 3D via its website
(6) Bank of America is subsidizing the 3D upgrade on opening weekend for Monsters v. Aliens, which helps Dreamworks’ box office take, and affects Dreamworks’ stock price as a publicly traded company
(7) Lew Coleman is using his former company, and taxpayer money, to make himself richer via increased value of his Dreamworks stock options after a large opening for Monsters v. Aliens
The reason we harp on Congress for not reading the Obama Trillion Dollar Spending Bill and not keeping a close eye on all the bailout billions floating around is because crooks like Lew Coleman are using all of that taxpayer money not to stimulate the economy, but to enrich themselves.
Every day, some new scheme like this is exposed.
And we haven’t even gotten into the boring, run of the mill, quid pro quo, mob-connected infrastructure and construction graft and corruption inherent in any pork project — of which Obama’s spending spree has tens of thousands of examples. None of which are as interesting as Bank of America diverting taxpayer dollars to subsidize cartoons, but they are as inventive as they are rampant, no doubt.
This is the change Obama brought to Washington, people.
Government subsidized 3D cartoons.
Hope!
Change!
Monsters!
Aliens!
March 19, 2009 at 8:48 pm
Excellent reportage, HillBuzz! I bookmarked the site and left a comment (which is in moderation libo there, at this point in time).
I think it stinks to high heaven that Coleman is a former BOA executive. This is merely a deal akin to insider trading–or insider enrichment.
I wish I had a BOA credit card (but they’re hard to get if you’re not an illegal alien, which is their preferred clientele here in Sin City). If I did, I’d default on it.
Thank you for digging up precisely this kind of dirt about Porkus Maximus and the Handouts to Big Bidness.
March 20, 2009 at 10:41 am
This stinks to high heaven. Anyone can respond to this program. It does not matter if you are a B of A consumer. They are just handing money out to prop up Dreamworks and show a false impression that people want to see 3D movies. All on taxpayer money going to the “old buy network” what a disgusting outrage!!!