Halifax Film / DHX Shareholders - Shame!

Dear Readers, I've waited as long as I could before blogging but I cannot hold my tongue much more. (ed. especially since you've been biting on it for days now.)

As usual, my editor is my friend Lunchmeat Harold. ( ed. Howdy!)

I read in the newspaper a few days ago and in today's edition of Allnovascotia.com about the going's on at Halifax Film's Annual General Meeting (ed. at the Halifax Club! Any leftover shrimp skewers?)

I think the shareholders that were there are darn lucky that I'm unable to leave the apartment or I would have shown up and given them a piece of my mind. After all I am also a shareholder of DHX (ed. 1000 shares) and I was fully entitled to be there. Nevermind that I didn't get an invite, I'm sure that's just a mix-up. (ed. But you called them and e-mailed everyone in the place a million -)

"Pointed questions" is what allnovascotia.com calls these ungratefuls grilling of Michael Donovan, and the other Muskateer execs. (ed. easy, big fella).

They question raises of 27% to 51% of their salaries. Seems like a lot but it's a matter of perspectives, we're not talking millions here folks; its just double digit increases on six (ed. not seven!) figure salaries. And given the economic meltdown that we're going through, give these guys a break. Charles "the Green Arrow" Bishop in now earning only $356,250 and Dana Landry is earning less at $355,030. (ed. whip out your salaries boys and see who's is bigger.)

And when you take into consideration that it's not all salary (ed. $50K is in "bonus's"), they are not out of line with N.Y. investment bankers. And which of the two would you rather have in delicatly cradling your portfolios? I thought so!

Remember although DHX has 16 shows in production, most of them are being made with OPM. (ed. Other People's Money e.g. Tax Credits, Film NS, CTF) and "producer's Fees" come out of them. Why the investment in Jungle Jim alone is almost enough to pay the bonus's! (ed. is that a good thing or a bad thing?)

Besides, it's an INVESTMENT! The province has invested in a lot of the children's shows and they are going great guns worldwide. Nova Scotia is probably drowning in cash from all the sales they announce to asia, spain etc. (ed. Coincidentaly, Coming to America will turn a profit very soon.)

And like your junior high baseball team, this is a (re?)building year. DHX is pumping out as much children's content they can so they'll be ready "for the future." Not sure how but Mr. Donovan predicts that there's a "17-year-old walking to highschool now and he's just got an idea." (ed. God, careful around those snowbanks! Don't get run over by one of those Hybrids!@)

Wouldn't you have waited for Mr. Gates to exist, come up with great ideas and turn them into cash! I for one am waiting for this anonymous, acne riddled, barely-there-mustache wearing messiah to come forth! (ed. Which one is he?)

But Mr. Donovan had a perfect comeback for those questioning the exec's salaries; the TV industry is all about relationships and these good ole boys have it in spades. That's where the value is. Not in scripts or concepts or ideas. Anyone can have those. (ed. actually I have a great idea for a show - )

I for one am proud to be a part of an industry where its who you know that gets you ahead. Doesn't it save so much time an energy for the broadcasters to sit down over dinner at a high end Toronto restaurant like..er....(ed. I don't know any either.) and make a deal. Broadcasters then don't have to beat the bushes dealing with scruffy little people "developing original" ideas from scratch. (ed, that does sound disgusting. Have you seen those squigee kids?)


More later. The fetal alcohol kid from down the hall is coming home and he has to bang the wall with his helmet all the way to his apartment, damn it!

And as for the $2.2M lost on Shake Hands With the Devil (ed. the last but not the least of the many movies on the topic that people shouldn't have gotten numbed to!), it will be forthcoming as a distributor has been found for the film in the states. Of America!

And then the's the E1 debacle which I believe we were so lucky to have gotten out of even if we dropped $1.1 M on that. (ed. How many Jungle Jim's are we up to now?)

Though I was saddened when the deal was called off as I was hoping to sell maybe a few of the shares that were worth $ .46/share at the time for the selling price offered of $1.59. Would have been nice to splurge on some quarter pounders and cheese and a few cosmopolitons. And maybe I did wonder, as one shareholder did at the AGM about where Mr. Donovan was going to go after the deal was done? But I'm sure all these plans and failed plans are only for the good of the shareholder and I am proud to declare myself one of them! (ed. My country tis of thee, sweet land of liberty - )

So that clears that up.

In other news -

- I hear that CTV's Eastern Development manager Anne-Marie Lapointe is no longer within the Eastern Region? Wasn't she just here a second ago, brand new to the job? How does CTV expect to mine the rich source of talent down here? Remember, some of us can't leave the apartment.

- Whatever happened to The Conclave? Just wondering.

- And the CRTC has announced that they only be giving out one year licenses coming into the next renewal round and they propose that the private broadcasters spend as much money on homegrown production as they do buying American shows. (ed. Teehee, Must be like early April Fools.) CRTC is not going to be pushed around anymore! Unless they get pushed really hard by the Aspers and the Rogers and the whoever owns CTV (ed. The KOC?) This is really cool grandstanding but I think it means that the CRTC just wrote its own execution order.

Halifax Film....and TV Stuff. I'm still standing! After all these Years...lalala

Okay, I'm a little concerned in what's happening lately. Before I start, let me introduce my editor tonight, the always reliable Lunchmeat Harold. (ed. Howdy!)

So over the last six months, maybe longer, don't know, the world economy has failed. Whatever. I don't really care as I retreated from the "world" a long time ago. I didn't care and apparently "the world" hasn't missed me either.

My only touch with the "real" world (ed. i.e. reality) is that outside of entertainment news, the only thing I keep on top of is my one and only investment; I own 1000 shares of DHX aka Halifax Film. It was great when it was trading at $1.60 a share when I first inherited it but now it's worth 46 ...cents!? (ed. for some reason there's no "cents" symbol on this computer. Probably Bill Gates didn't see the need.)

But,all the exec's at Halifax Film just gave themselves raises and bonus's which means things are good, right? Right?

But good news, they've shuttered that Bulldog whatever investment. Sure there's a couple hundred thousand $ loss involved (ed. Bob Barker Rules!), but no sense throwing good money after bad. Who thought it was a good idea to buy into a company that's premise is that children need to work out on a daily basis. (ed. We make TV shows. Let's by a gym!)

But like the difference between good sex and bad sex, it's all in the timing. The AGM is being held this week. Michael Donovan says that not only is it a general meeting of shareholders, it will be a "special" meeting. Should I be scared?

If only I had the ability to leave the apartment I'd be there! (ed. shrimp skewers notwithstanding)

Hopefully someone wiil share with sugarbear as to what's being said at the meeting.

Goodnight.

Halifax Film....and TV Stuff. I'm still standing! After all these Years...lalala