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Martin County said no to tax breaks and accelerated development approvals. Textor claimed they were missing the next one. The only thing that was missed was the holes in Digital Domain’s financial reports, which showed them to be on extremely shaky ground without government grants in 2009 before Pelton and the EDC pushed the deal. […]
Before Saint Lucie was left high and dry by Digital Domain: Textor has received an abundance of criticism from taxpayers and some lawmakers over local and state incentives being given to Wyndcrest. However, Larry Pelton, the president of the Economic Development Council of St. Lucie County, who’s played a major role in structuring the deal, […]
Pelton said when he looked into the company’s finances in 2009, the company was profitable. He said he simply put the players in touch with one another, but came away impressed after listening to a presentation by John Textor, who resigned Friday as CEO. Yet in 2009 accounting firm Deloitte & Touche said that steep […]
Enterprise Florida, a non-profit agency that acts as the state’s economic development arm, approves most tax incentives awarded to companies by the state. But in the case of Digital Domain, Enterprise Florida rejected the company’s plea for cash to build a digital animation studio. To get $20 million in cash from Florida’s Quick Action Closing […]
The $20 million grant to Digital Domain was championed by then-state Rep. Kevin Ambler. Ambler, a Tampa attorney, left the legislature in 2010 and last year was named to Digital Domain’s board. He is paid $20,000 a year plus $2,000 for each board meeting he attends. Major downtown West Palm Beach project Digital Domain in […]
Presented without comment: • A June 2009 Digital Domain audit by the accounting firm Deloitte & Touche said that steep losses raised “substantial doubt about (Digital Domain’s) ability to continue as a going concern.” In another, an improving profit picture was masked by revenue from government grants. • The city relied on two glowing reports […]
Good info on the sequestration cuts thanks to Economic Policy Journal via Business Insider If you like the work here then please donate today. Follow us on Facebook and Twitter. Subscribe by email and never miss a post.
The genius of philosopher-novelist Ayn Rand Ayn Rand – The Virtue Of Selfishness – YouTube. If you like the work here then please donate today. Follow us on Facebook and Twitter. Subscribe by email and never miss a post.
Watch, comment and discuss about what happened at the most recent Saint Lucie County Board of Count Commissioners meeting. More importantly send us your comments if you catch something so that we can draw attention to it. Meeting minutes to follow If you like the work here then please donate today. Follow us on Facebook […]
Somethings just don’t add up as this story continues to develop. Walker has repeatedly affirmed that all of the employees have been around and are long-term employees. Yet the state finds “The subsequent report described technology issues, staff inexperience and inadequate procedures.” They key being staff inexperience but they have all (or mostly all) been […]