Florida Sues John Textor

Recently news has been emerging and fleshing out a lawsuit where the state of Florida is suing John Textor, who is the former CEO of the renowned VFX studio Digital Domain.  In short, John Textor lobbied and successfully obtained around $80 million in taxpayer "job-creation" money to start a school and partner VFX studio (essentially Digital Domain: Florida).

John Textor and Digital Domain did not fulfill any of these promises and did not finish any of the projects.  Instead, they quickly fell into bankruptcy, and John Textor quickly resigned.  This effected the State of Florida, the taxpayers and even students that paid tuition to attend an up and coming school for VFX which never came to fruition.

The basis behind this lawsuit is that John Textor illegally lobbied and secured this taxpayer money, and used it to prop up the original Digital Domain studio (which was struggling financially, as most VFX comanies are) instead of using it for what he promised in creating another studio, a school and tons of jobs.

This mismanagement of money has long been rampant in Hollywood, and is what gives Hollywood the bad name is has in much of business.  The main issue behind this is the VFX industries poor business practices, making it a constantly volatile and underpaid industry despite its rising popularity in today's cinema.

One day hopefully this business model will change, we can only hope it will not be a result of a massive and systematic meltdown of the entire VFX industry.

Sources:

http://www.awn.com/news/updated-florida-sues-former-digital-domain-exec-john-textor

http://www.cartoonbrew.com/business/digital-domains-legend-of-tembo-shuts-down-production-dozens-of-animation-artists-lose-their-jobs-john-textor-is-ousted-69456.html