My god, what a wretched, cold-blooded creature.
Ain't vulture capitalism grand?
Yeah.
‘Rust’ Shooting Death: Executive Producers Disavow Responsibility Over Accident – Deadline
Speaking on behalf of the now shuttered production, Allen Cheney made it known in a statement provided to the press Wednesday that he, along with Emily Salveson and her Streamline Global finance company, “received Executive Producer credit on the film Rust having no involvement with the physical and day to day production,” which is “consistent with financing partners across productions of all sizes.”
In the aftermath of the killing of Hutchins, many have tried to sort out who is financially responsible for the oversee of a production that allegedly cut a number of corners.
Rust was not bonded. Two of the three U.S. completion bond firms were approached about bonding the project, according to sources, but it didn’t happen. In one of the two cases, a potential financier made inquiries with one and stepped back from the film when the company declined to issue a bond.
Bonds are like super-insurance, with the bond company on the hook for costs if a film isn’t delivered in time and on budget. Productions also have traditional insurance, in Rust’s case said to be from Chubb..
Insurers (as well as banks and other financiers) generally prefer productions have completion bonds but will also insure without.
TMZ is reporting that the film’s insurance policy covers a maximum of $6 million for injury and death.
“By making film investment sensible and unemotional, Streamline Global naturally dissuades ego-based investors from spreading their toxicity in our industry,” added Salveson to Film Daily. Salveson is the granddaughter of Dr. Melvin Salveson, founder in the mid-1960s of the Electronics Currency Corporation, which was responsible for creating the system that facilitated the operation of MasterCard and Visa.
What to do? In such instances, perhaps it’s best to heed the advice of Salveson’s great grand uncle, whose wisdom she shares in her Film Daily Q&A: “My great-grand uncle Gerald Loeb told my dad, ‘Don’t fall in love with your investments,’ and he passed the same wisdom along to me. I find that when I look at my investments objectively and without emotion, I make better decisions that lead to higher profit and overall success.”