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re: Fiddy Cent Bids A-Deuces to Shreveport
Posted on 7/14/26 at 11:55 pm to MyRockstarComplex
Posted on 7/14/26 at 11:55 pm to MyRockstarComplex
quote:
To be fair, if he thought he could build Tyler Perry Studios in Shreveport, it doesn’t work because of the state’s obtuse reactionary “related party transaction” rules.
This is one of the single dumbest things I have ever seen on this site, which is kind of remarkable.
Related party transactions were a source of massive fraud in the film and DM programs before the state hired people with financial backgrounds to administer those programs. Those related party transactions and mandatory withholding eliminated tens of millions of dollars in fraudulent tax credit issuances.
I wish I were exaggerating, but I would frequently have fly by night productions come to me for tax credit projections to get loans against the future credits, and the budgets were 15 or 20% related party producer fees which is absurd. Those transactions had no valid business purpose but to create tax credits.
1
Posted on 7/14/26 at 11:57 pm to tigerfan84
quote:
i never understood why he wanted to invest there.
Because he thought he was going to get $50 million from the state with very few strings attached.
Posted on 7/15/26 at 6:09 am to BlackAdam
quote:
This is one of the single dumbest things I have ever seen on this site, which is kind of remarkable.
Thanks.
So as it presently stands you don’t think this set of rules overreaches and disincentivizes long term investment in the state?
I’m not arguing that a bunch of bad actors didn’t abuse the system in its heyday, and we can all have a laugh about the names of the loopholes (the Eddie Furlong is my favorite), but there were ways to tighten it up that did not have to be as knee jerky.
In the off chance you are in fact the guy who wrote the rules (and taught me the Furlong) by all means please text me so we can have a laugh. Stare at my user name until it makes sense.
Edit: to be fair to your point, above the line fees are indeed a problem. I’m talking about investment in infrastructure and equipment. 50 did learn from EFO so that might be an issue.
This post was edited on 7/15/26 at 6:31 am
Posted on 7/15/26 at 6:29 am to shutterspeed
He's right. Ruston is mor conducive to the "putting on your work boots" and pull yourself up mentality.
Posted on 7/15/26 at 6:37 am to shutterspeed
Not surprised at all. This whole thing never made sense to me any way.
How delusional do you think he was to think he could revive a decaying Deep South city? It takes much more than just buying up properties and building new buildings.
How delusional do you think he was to think he could revive a decaying Deep South city? It takes much more than just buying up properties and building new buildings.
Posted on 7/15/26 at 6:53 am to Snoop Dawg
quote:
I really believe Memphis would be a better candidate for 50 Cent to do this than Shreveport due to the zero state income tax, the city willing to work with Trump to lower crime with the national guard, Memphis BBQ, and the music tradition.
I think he was going to get a shitload of film tax credits in Louisiana
Posted on 7/15/26 at 7:27 am to shutterspeed
He should try Jackson Ms.
Posted on 7/15/26 at 7:50 am to LSUGUMBO
quote:
The speculation is that this is more targeted towards the Red River District and not the plan as a whole. He owns about 10 buildings/properties, so he’ll either sell those or continue to pay property taxes.
He wants the city to bring the buildings in the District up to code, repair leaks, and pay for any mold remediation before leasing. Since the city owns those and should be responsible for any maintenance, I'm with 50 on this one.
Posted on 7/15/26 at 8:00 am to shutterspeed
The first time I heard he was investing in Shreveport I thought, what an idiot.
Well Well Well
Well Well Well
Posted on 7/15/26 at 9:05 am to shutterspeed
quote:
“There are people in Shreveport that just don’t want things to get better.
That would be pretty much every black Democrat trying to get some cash funneled into their grubby hands. Probably threatened him with lawsuits if he didn't kickback some money into their organizations.
Posted on 7/15/26 at 9:11 am to Snoop Dawg
quote:
the city willing to work with Trump to lower crime with the national guard,
The city? You do realize the city (as far as its black Democrat leadership is concerned) never wanted and still doesn't want the MSTF here. The state had to force that onto Memphis leaders.
quote:
Memphis BBQ
Way over-rated.
quote:
and the music tradition.
Mumble rap and the sound of gun shots punctuate the nights even more than Shreveport....
.
Posted on 7/15/26 at 9:18 am to MyRockstarComplex
quote:
So as it presently stands you don’t think this set of rules overreaches and disincentivizes long term investment in the state?
No. The whole statute disincentives long term investment in the state. No viable film company will set up shop outside of LA or NYC as long as they can get no strings attached money from 45 other states and nations around the world. Film credits are a constant race to the bottom. Nothing about the statute or rules in any form ever would have led to a sustained film industry, and anything that would lead to a sustained industry wouldn't be well received.
And as terrible as film credits are in general, when the state restricted related party producer and finance fees, the quality of productions increased. The program attracted people in the business of making movies and chased out people who were in the business of making tax credits.
And sure, studios will sign up for long term deals when you offer enough, but they will stop bringing in production as soon as the flow of money stops. This has been proven everywhere. This has been the case everywhere.
quote:
50 did learn from EFO so that might be an issue.
I think you are hitting the nail on the head. Getting those guys to move on added years to the life of the incentive.
Posted on 7/15/26 at 9:44 am to shutterspeed
quote:
pumping the breaks
Louisiana politics strike again to halt progress. It's always something.
In Shreveport they be pumping the breaks.
In New Orleans they be breaking the pumps.
Posted on 7/15/26 at 9:44 am to shutterspeed
quote:
pumping the breaks
Louisiana politics strike again to halt progress. It's always something.
In Shreveport they be pumping the breaks.
In New Orleans they be breaking the pumps.
Posted on 7/15/26 at 9:49 am to Clames
You know Cleo Fields and the rest of the democrats had their hands out….
Posted on 7/15/26 at 9:56 am to rockford177
Every black-owned NGO and contractor was clamoring for a piece of the action. Same reason why Xai is getting sued in Memphis by the usual suspects, Elon ignored the local NAACP extortion racket.
Posted on 7/15/26 at 11:02 am to shutterspeed
It’s wild how people don’t see the inherent tendencies of certain demographics.
I saw an article about how the group leading the effort to recall Jeff Landry was dissolving because of disputes over money. It’s two black women at the helm.
I saw an article about how the group leading the effort to recall Jeff Landry was dissolving because of disputes over money. It’s two black women at the helm.
Posted on 7/15/26 at 11:03 am to rockford177
quote:
You know Cleo Fields and the rest of the democrats had their hands out….
There was no hand out. There was a gun to the head.
Posted on 7/15/26 at 11:09 am to upgrayedd
quote:
I saw an article about how the group leading the effort to recall Jeff Landry
Besides the fact that the leader is a certified lunatic, a donor offered $100,000 for the recall that came with some stipulations. The leader- the Marion woman- refused it because she didn’t want to follow their stipulations on HER recall effort.
Posted on 7/15/26 at 11:10 am to upgrayedd
quote:
It’s wild how people don’t see the inherent tendencies of certain demographics.
If you could have seen some of the comments under 50s instagram post a while back..
One of them said "I'm thankful he's investing in the city, but he hasn't done anything for me" Like they want him just walking around Cedar Grove handing money out
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