June 14, 2012 |
California's film tax credit program has helped to stem the flight of movies and TV shows since it was enacted in 2009, but would be more effective with more funding and fewer restrictions on the types of projects that can qualify, a new study concludes. The report, "Fighting Production Flight," from the Milken Institute says California's film tax credit -- which gives producers 20% to 25% tax credits toward qualified production expenses for films and TV shows shot in the state - has been successful in that it has been oversubscribed and has had a "demonstrable impact in arresting the decline in filmed entertainment spending and employment in the state.
May 3, 2012 |
Bill Clinton has some advice for Europe's leaders: Focus on stimulus, not cost cutting. The former president told a capacity crowd inside the Beverly Hilton's grand ballroom that the continent cannot rely on austerity measures to bail itself out of the debt crisis. Instead, it needs to focus on multiyear plans to boost its nations' economies. "The prescription of austerity has continued to be pushed in the face of all the evidence that it won't work," Clinton said at the Milken Institute's 2012 Global Conference.
October 17, 2011 |
They loped in like a pair of old lions, one a bit stooped, both proud to a fault. On the left, sipping from his bottled water, was Gov. Jerry Brown. On the right, fidgeting with note cards, was Michael Milken. The occasion was last week's State of the State Conference put on by the Milken Institute. The day was full of wisdom and, surprisingly, optimism, as some of California's best minds and sharpest business types appraised the state and found reason for both concern and hope. But the main event was the dialogue between Milken and Brown, icons of dichotomous California — the ascetic governor sharing a stage with the financial wizard whose name was once synonymous with greed.
October 20, 2010 |
Wrapping up its State of the State Conference at the Beverly Hilton on Tuesday, the Milken Institute released a sobering look at California's public pension system. Their conclusion: Dramatic changes are needed to cope with demographic trends and funding shortfalls. "We're talking about a perfect storm: more state services needed for an aging population, a workforce that will spend more years in retirement than they did contributing to the funds, and a smaller ratio of working-age taxpayers and contributing state workers to pay for it all," said Perry Wong, director of regional economics at the Milken Institute.
July 23, 2010 |
A new study confirms what any grip, camera operator or location manager already painfully knows: California is bleeding film jobs. The state has lost more than 36,000 jobs and $2.4 billion in wages over the last decade as production has migrated away, according to a report by the Milken Institute, a nonprofit economic think tank co-founded by former highflying 1980s Wall Street player Michael Milken. Aptly titled "Film Flight," the Milken report is the most comprehensive analysis to date of the economic toll of so-called runaway production that has hammered L.A.'s movie and television production economy and the thousands of below-the-line workers and support companies that depend on it. The survey runs through 2008, the last year for which federal and state labor data were available, and thus understates the extent of the job losses because it doesn't cover the recession that prompted widespread layoffs in the industry.
December 20, 2009 |
When her Irvine office began laying off workers in a lousy economy, Deborah Haas did what every employee fearful of being the next one booted is doing these days: She got busy. An executive assistant to the head of a furniture company, she became the receptionist, event planner, marketing assistant and office manager. When the catering budget got whacked, she threw on an apron and started whipping up chile lime crab cocktails and carne asada skewers for sales events. Workers like her are fueling a surge of productivity in the U.S. economy.