Wednesday, April 25, 2012

SEC going after Hollywood studios

Aww .. so not fair!  What's poor Obama to do now that there might be a few dollars less coming to his reelection coffers from  Babylon?

From the EconomyWatch:
The Securities and Exchange Commission in the United States are investigating the financial dealings of some of Hollywood’s biggest movie studios in China after information leaked that studio executives may have been making illegal payments to government officials in order to gain a stronger foothold into the Chinese market.

20th Century Fox, the Walt Disney Company and DreamWorks Animation are reported to be among the first major five companies that have been contacted by the S.E.C. on Tuesday, reported the New York Times – with a number of the larger, and some smaller, studios expected to soon receive notification, or at least be made aware, about the inquiry.

Though neither the SEC nor the movie studios chose to comment on the investigation, the NYT’s source, who spoke on condition of anonymity, claimed that the inquiry had been launched after the government agency became wary of recent activity by movie studios in China – including a recent landmark deal by Dreamworks to build a production studio in Shanghai....

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