Did Granholm Make Bad Investment?

Raleigh Studios Financial Woes

By Dave Leval

Raleigh Studios Financial Woes

February 14, 2012

PONTIAC, Mi. (My TV20 News at 10) --- There's still no word from Pontiac's Raleigh Studios regarding its latest payment.

Various reports today claim the studio missed its $630,000 February 1st payment to bondholders. The State of Michigan Retirement System is said to have covered $420,000 of the payment.

Raleigh Studios has not paid any money since October.

Former Governor Jennifer Granholm made the state employee pension funds the guarantor of the $18 million in bonds sold in 2009. That helped build the $80 million complex.

What are your thoughts CLICK HERE to leave us a "My2Cents” comment.


© Copyright 2014 A Granite Broadcasting Station. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.