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.

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