We’re not ready to throw in the towel for the planned studio complex in Effingham County.
Investors in Medient’s penny stock are understandably antsy after the ouster of the company’s CEO, Manu Kumaran last week.
The upheaval, however, may be just what the studio needs to survive.
We have heard grumblings about Kumaran’s style and his lack of attention to deadlines for some time.
Kumaran’s issuance of stock at what seemed was every turn, was also questionable and rightly raised some eyebrows.
That being said, investing in the penny stock market is bound to be a rocky road in many cases and deserves scrutiny by potential investors before they jump in with both feet.
The appointment of Charles Koppelman as chairman of the board of directors seems to be a positive move and should provide some stability.
The company also has a new CEO, Jake Shapiro.
Shaprio has said, “There will be no suspension bridges made out of glass ... no LEED concert buildings built out of fairy dust. We will build a stage at a time, a building at a time, a movie at a time, the way a sound management team builds businesses.”
Those changes in the plans sound sensible to us and we hope they will also sound sensible to possible investors in the project.
It is too early to tell what will happen with this project and it’s too early to give up on the project’s future.
Too much is just not known at this point, about how all the details will shake out.
We are going to need to be a bit patient folks and keep our eyes open.
You can be sure the Effingham IDA will.
It’s also worth noting that the IDA’s contract for the project is with Medient, not Manu Kumaran or any other individual.
Effingham County should be proud, and very grateful, for its Family Connection network.
The collaborative effort of community leaders and various agency officials to better the lives of children and families is beyond admirable.
In addition to many year-round efforts, collaborative partners share details on their services, and their needs with other members, providing information that otherwise might be hard to find.
Family Connection is a community partner in Effingham with the school system, the Department of Juvenile Justice, the United Way of the Coastal Empire, Effingham Health and many more.
Family Connection’s Executive Director Elaine Spencer deserves thanks for her caring about our families, as do all the partners in this impressive group of concerned people.