Medient Studios breaks ground (how much, to buy, deal)

[pink caddy]

Originally Posted by Newsboy

PREDICTION: Medient will declare bankruptcy and the taxpayers of Effingham County will be left holding the bill.

They're not holding much of a bill. Look, it's a bit chunk of dirt that they are giving to this start-up project. If they get the land back in the next 2 years it will prolly be improved. If Medient doesn't declare Chap. 7 they need to pay 10 mil big bux.
How good is that? I think the county made a very nice bet.

[Newsboy]

I am very proud and happy of the fact that Fayette County did not have to give away the farm to attract Pinewood Studios Atlanta, first phase of which is well under construction. The Rivers family that owned the actual farm made a fortune off the sale of the land, and the local governments agreed to rezone, annex and run utilities to the site. But the investment is coming completely from private sources -- mainly the Cathy family of CFA fame.

Huge difference between that project and this one. I fear Effingham officials got all ga-ga and had $$$ in their eyes and will pay for it later.

[DanielAvery]

I fear Effingham officials got all ga-ga and had $$$ in their eyes and
will pay for it later.

This statement ought to be added to the county seal!

[counterclockwise]

Medient Studios, Inc Stock Quote & Summary Data


Sept 30, 2013
MDNT
$0.3 close
Down $0.14

31.82%

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Medient on a roll...down hill!
Medient Studios, Inc. (MDNT)

-OTC Markets

0.24 0.04(14.29%) 3:59PM EDT Oct 3, 2013.

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IDA staff members bonuses for Medient deal

Excerpt from Effingham Now

IDA members agreed to provide bonuses to IDA staff for their work in attracting Medient. If Medient produces the promised 1,000 jobs, CEO John Henry will make a bonus of $50,000 and will have an additional $25,000 to divide up among three IDA staff members.

[pink caddy]

"IF" they produce the 1000 employees. Don't you think that bonus is worth $10million first payment and 1000 jobs. I know the response already "It's part of their job."

Just like the issues on film production, if you want to play in the big league, hit homers, run around the bases..... you need to know how to play the game. Maybe Savannah is learning but I believe they have one helluv a future.

[counterclockwise]

The Effingham IDA purchased this 1,700-acre tract near Interstate 16 in 2006 leaving the Effingham County industrial recruiters holding a $40 million taxpayer-secured loan that helped kick start the DP Partners deal that fell through. Any bonus money should go to paying the interest on the loan.

[pink caddy]

Din't know that. Your point is valid. I'm still learning.

[pink caddy]

Did they pay $23530 an acre?? For dirt in that county?? Doesn't sound like a "deal" to me.