Andy Onchan

You mean the losses of around 24 million that were written off in 2010 & 2011?

So we've doubled the investment. Now let's realise that gain and look to invest in something a little closer to home where the investment will benefit a greater number of local people.

As ever, I dislike misinformation and generalisations. .................. but if we've appointed Pinewood and they've appointed one of the few specialists in movie production for small island nations, isn't that their choice? Where is the wrong doing? Do you know the names the other "specialists in movie production for small island nations." Do such people exist? And wouldn't you expect Pinewood to do their own due diligence and go for the "value for money" exercise? How do we know that Christian is in fact the right person/company?

They're not, which is one of the valid criticisms in that it's hard to judge the benefits, but the same is true of other development funding such as grants.What can't speak can't lie.

Something that you've still not backed up with anything concrete. What you described isn't a hedge, but that's not what was proposed, which is. I think I'm wasting my time. You can't even be arsed to read the documents and are coming to incorrect conclusions. What I know is that IOMG Accounts show the following for the Externally Managed Media Fund: 09/10 Unrealized Losses 7.14million 10/11 Net Loss on Sale of Investments 10.6million 11/12 Net Loss on Sale of Investments 4.7million 12/13 Reimbursed to Treasury 70k approx How are these losses squared with income from the spend on-Island during production?

That'll be the end of civilisation as we know it then. 'Boat a bit late' the UK newspaper headlines will scream It may not be the end of the world but it does compromise the journey times for those with an onward journey by train. And the 'Boat a bit late' issue will last until at least September. So it's not really just a one off is it? It might help assuage some passenger's angst if Commodore Woodward announced a reduction in fares as part compensation (or at least a meal voucher). But no such thing will happen, will it?

Which is true of most assets. You can get a valuation but the only way to know what it's actually worth is to sell it. why sell it? looks good to me. http://www.ft.com/cms/s/0/3ddb57e2-fd47-11e3-96a9-00144feab7de.html#axzz35pVpBVg7 I wasn't suggesting that it be held or sold, I was just making the point that in a thinly traded share, market prices are at best indicative! Paper profit is all very well...... but it's cash in the bank that counts.

As far as I can see the media fund has not invested any money in a film production where Steve Christian himself has not been a producer, executive or otherwise.

But it is starting to look like it might after all have been a pretty shrewd investment. But it's not an IOMG approved investment scheme. The management of the "investment" was never, ever put out to tender.

According to BBC Business news: PINEWOOD EXPANSION 12:46: After years of wrangling Pinewood Studios has been given the go-ahead to expand. The £200m investment plan will add twelve large stages with workshops and offices. Business has been booming for Pinewood with the latest in the Star Wars series under production there.

Oh dear..... hit by a garage door....... one wonders if there'll be claim for damages http://www.bbc.com/news/world-us-canada-27825562

I doubt that FOIA would uncover much beyond what we have already been told and what is publicly available. There will always be clauses to 'hide' or not disclose information if it's deemed to be not in the national interest. The real issue, as newsnight has pointed out, is how one person has apparently managed to acquire & wield so much power over our elected representatives using a substantial amount of public funds (to promote their own business along the way) outwith the established format for managing investments. Quite astounding. Who was the Minister of DTI & Treasury back then?

No public accountability, disclosure or transparency and all with taxpayer funds....but allegedly it's legal...... how's that work? This cannot be right on many levels...

Steve Christian (to self): Now then.... which hat shall I wear today? http://www.walesonline.co.uk/news/wales-news/welsh-government-kick-starts-30m-7200200

It would also be interesting to hear from the Treasury Minister how many films (with producers other than the above) have been rejected by Treasury as worthy of investment.

Question for the Treasury Minister: Why is Isle of Man not listed as filming location by Pinewood Studios? Wales is deemed good enough but not Isle of Man apparently. http://www.pinewoodgroup.com/our-studios/uk/filming-uk

After all, it's not taxpayers money is it?

............ A few are doing well out of this don't think its us however ! Well the fact is we're not allowed to know if we are doing well out of it or not..... it's all hush-hush.... commercial confidentiality don't you know! You really couldn't make this up.....someone should make a film about it.

Seems this might be some good news for the 'manx film industry'...... or is it? http://pagesix.com/2014/04/30/miranda-richardson-talks-up-new-film-belle/

http://www.thisismoney.co.uk/money/comment/article-2610254/Thought-Pasty-Tax-bad-The-Isle-Man-gives-Toilet-Tax.html?ito=feeds-newsxml

http://www.hollywoodreporter.com/news/uks-pinewood-pictures-expands-production-689566

For the year ended March 2013 Pinewood's Media Investment division (or segment as they like to call it) turned in a loss of almost 2.3 million. For the six months ending 30th Sept 2013 they also managed an operating loss of almost 2.9 million. Both sets of accounts show that the losses were offset by tax credits in the form of UK Film Tax Relief, thus bringing the accounts to an almost break-even position. If I were a potential investor in a PLC I'd be worried that a company that was unable to turn in an operating profit (using others investment funds) without support from government has no hope in hell of really going anywhere. http://online.morningstarir.com/ir/pws/ir.jsp?page=news-item&item=1644749136068608

If the Welsh Assembly are expecting to create significant new jobs in Wales then they should think again. The movie industry by it's nature is highly mobile, it has to be. I'm sure all that will happen is that the UK government will have to spend more on road works as the traffic increases on the M4 corridor as the lighting, carpenters, props, costumes and catering wagons shuttle back and forth between Pinewood/Shepperton & Cardiff. No idea what the Welsh govt are expecting or whether it stands up as an idea but I can see the logic of the argument for it if you are getting someting in return. In this case a film studio. I think Cardiff already has a reasonable media presence as I think Dr Who is made there as are a few other BBC programmes. They had a film studio back in 2008 costing 330 million that went to the wall because it didn't get the support it needed. Had the Welsh Assembly backed their own Welsh investors then perhaps they would be renting out space to Pinewood by now. ETA: Mind you that studio was nowhere near as big as the one proposed by Pinewood.

If the Welsh Assembly are expecting to create significant new jobs in Wales then they should think again. The movie industry by it's nature is highly mobile, it has to be. I'm sure all that will happen is that the UK government will have to spend more on road works as the traffic increases on the M4 corridor as the lighting, carpenters, props, costumes and catering wagons shuttle back and forth between Pinewood/Shepperton & Cardiff.

Bit far away from the target market though which adds unnecessary costs. It's often said that the biggest asset is the people. You mean like the tomatoes on Tesco shelves that come from Israel and the green beans that come from Kenya?