I thought I might call attention to the fact that IMAX stock is up from $11 low to $31 a share today. Had the PRM taken the 2 million dollars they had accumulated in the past 4 years and bought $11 stock in the IMAX they so strongly believed, they would now have $6 million of the needed $16 million needed to HELP fund the museum once it is opened.
Yes, I know they know claim to have $5-6 million in the Endowment fund but most of that came from the taxpayers and perhaps a little creative bookkeeping or fund shifting.
When Endowment money was available, those in charge of the money ought to have put these dollars, approximately $2 million, in related stocks like Caterpillar and IMAX. Just where was the Endowment money donated by the private sector invested by the "movers and shakers" in this community? It is apparent those investors didn't do very well.
Even in year 2010 when almost anyone with money to invest should have done quite well.
Remember, readers, the sales tax referendum was strongly promoted to help fund a museum with a then highly touted IMAX. Since then the three gentlemen mentioned above have played down the IMAX draw and said they were searching for better, cheaper big screens since IMAX was not the only 'fish' in the Illinois River.
My question to these three community leaders and other strong PRM promoters is the stock of the other possibly "better" big screens that few in Peoria area has heard of, done as well or better than IMAX stock? If they are 'hot' like IMAX, has their stock tripled in three years? If I could find them listed on the stock exchanges, I could look them.
Other than the fact that SONY is interested in buying this particular 'fish'; IMAX instead of the 'other similar or better and cheaper big screens', maybe the other reason that IMAX stock is rising so dramatically, is because the gentlemen mentioned above have 'cut' a deal for a second tier IMAX for PRM?
Again, remember that Caterpillar representative and PRM Board member,Doug Beasley told the Peoria County Board, the owners of the property and building, that the PRM was in 'intense' negotiations with IMAX but wouldn't release any details to this County Board member. That was approximately 6 months ago with, to my knowledge, with no progress info released to the public. Also, how is Ransburg doing in raising the $10-20 million from the private sector needed to finish out the roughly $94 million PRM?
Hmmmmm.
Happy New Year
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