The Senate decided to cut Hollywood out of the stimulus plan, which would have given new productions a 50% tax break. They said that January sales were the highest ever, up 19 percent from last January’s sales. Full article at the LA Times.
So who knows what’s really going to happen. Even though sales increased, maybe it’s just because everyone running to see the Oscar contenders and they’re going to plummet at the end of the quarter. And signs aren’t good for other entertainment companies; Disney is reporting first quarter profits down almost a third.
For anyone who says who cares, look how much money they have, think of it this way: If I have nine dollars, I can buy a six pack and have a good night. If I lose a third, I’m down to a forty or very cheap wine. It’ll be a bad night and take a day or two to bounce back, both physically and my self-esteem.
So anyway, just following up to my wonderings. I’m glad the movie industry was cut out of the stimulus plan. I know there’s honest, hard working people that might have benefited, but it would have probably just made the execs pockets fatter. It’s not the same as the auto industry as Baucus argues, and I don’t see anybody from the sports or music industries lining up with their hands out.
Ms. Harris 