Tuesday, July 16, 2024
Hawai'i Free Press

Current Articles | Archives

Thursday, July 30, 2015
Hawaii Dodges $500M Bullet as Billionaire Movie Mogul Declares Bankruptcy
By Andrew Walden @ 11:51 PM :: 8464 Views :: Tax Credits

by Andrew Walden

Billionaire Clinton crony Ryan Kavanaugh's Relativity Media filed for bankruptcy today.

Lucky Hawaii.

In 2011 and 2012, Kavanaugh spent $218K bribing Hawaii legislators.  Legislators got 35 free Blu-Ray DVD sets valued at $360 each and one even scored an I-pad.

Relativity execs testified in support of 2011 HB1308 and SB 1550 which would have boosted TV and movie tax credits up to 35% on Oahu and 40% on the sister islands. 

The bills failed.

In 2012, Relativity came back pushing a PLDC land deal adjacent to Hoopili and grasping for a slice of the money in a $500M Senate ‘Accelerator’ plan.

That failed too.

Relativity tried and failed again with a multi-mullion dollar subsidized movie studio deal on Maui after Kavanaugh's original $500M scheme for four studios-one on each major island--fell through.

The primary mover behind Relativity's failed "Accelerator Package"--Senate Ways and Means Chair David Ige

After the plan's failure, a 'disappointed' Ige told Associated Press: "The tax credit fell apart. We'll keep working at it. We've been working at this area a long time. It brings the kind of jobs that we want, that our children want, and we really do believe the activity ends up being a net gain for our economy."

Read the bankruptcy filing here: Relativity Media, LLC Petition

---30---

Relativity In Hawaii:

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

MentalIllnessPolicy.org

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii

Obookiah

OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

RailRipoff.com

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

SenatorFong.com

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii