N.M. OKs $15 million loan for Hilary Swank film

[disorderlyvision]

http://www.alamogordonews.com/ci_13395438


SANTA FE The State Investment Council is making a $15 million loan for "The Resident," a film starring Oscar-winning actress Hilary Swank.

Swank plays a doctor who moves into an apartment, only to discover the landlord is obsessed with her.

The film is expected to be released next year. Nearly 200 New Mexicans worked as crew members during 30 days of photography in the state, which finished in July.

As approved on Tuesday, the loan calls for the state to get 18 percent of revenues after the film breaks even. The loan accounts for 80 percent of film production costs and must be repaid within three years.

The loan goes to Spitfire Holdings Inc., of Beverly Hills, which is affiliated with London-based Hammer Films.

[awake]

18% on money that was originally stolen.

[AbolishTheGovt]

And the politicians in New Mexico are complaining so much about their state budget deficit, and blaming it on Gary Johnson cutting income tax rates so much back in 1995-2003. They fail to see it's bullshit like this that comprises the 40% increase in New Mexico state government spending since Gary left office that's gotten them where they are. Retards.

[Thrashertm]

the loan calls for the state to get 18 percent of revenues after the film breaks even

I believe the Hollywood studios can use tricks to ensure that a film NEVER breaks even so that they never have to pay out these royalties.