Show Me Center seeks more shows

Monday, August 30, 2004

If you have a question, e-mail factorfiction@semissourian.com or call Speak Out (334-5111) and identify your call as a question for "Fact or fiction?"

Q: Is it true that the Show Me Center is planning more musicals like Cats this coming year?

A: "The Show Me Center is always on the lookout for fine arts and theatrical shows," said Brad Gentry, Show Me Center marketing director. "We currently have the Moscow Ballet's Great Russian Nutcracker on Nov. 18. We are also trying to secure other shows that fit the bill."

At one point, the Show Me Center was close to announcing a series of theatrical performances, but those negotiations remain ongoing.

"Theatrical productions tend to want to perform in theaters and not arenas, but we have made strides to attract these shows by cutting down the arena into a 3,000-seat theater using black curtains," Gentry explained.

"The River Campus should help to secure more fine arts events, but until then we will continue to try to fill the niche when we get the opportunity."

To stay on top of the latest news about Show Me Center events, Gentry recommended joining the free Show Me Center All Access Club at www.showmecenter.biz. You can also stay abreast by reading the Southeast Missourian and semissourian. com.

Q: Over the past months we have read about huge penalties, fines and settlements against large corporations because of accounting practices, stock deals and other misconduct. Where does all this money go?

A: "It's going to depend on the case," said a spokesman for the Internal Revenue Service. "If it's tax fraud, it's an IRS issue, and the money will go into the general fund of the Treasury Department for general appropriation by Congress." The spokesman used the example of a fraudulent tax shelter as a case that would fall under IRS purview.

The enforcement division of the Securities and Exchange Commission would deal with stocks and accounting fraud.

"It's a complicated process, but the monies are returned to investors after a distribution formula has been devised," John Nestor, spokesman for the SEC, explained. "You have to figure out who the rightful beneficiaries are. All these high profile cases have generated more than $2 billion in restitution funds. This return of ill-gotten gains, as well as any financial penalties, go to the investors."

Nestor explained that in rare cases, unidentifiable funds may remain with the department.

Some of the restitution funds -- in some cases large portions -- may also go to attorneys representing the victims of the fraud.

For state tax infractions, the money goes into the general budget as a revenue item, which is then appropriated by the legislature, said Stan Farmer, Missouri director of taxation.

Fraudulent business practices, if not a federal issue, would fall under the attorney general's office. Some penalties may go to what's called the merchandise practices revolving fund, which is used "to bring additional cases and consumer action," said Scott Holste, spokesman for the attorney general's office.

Penalties from securities fraud cases go to the county treasurers for disbursement to school districts, said Holste. "That being said, there is generally an offset with what the districts would then get in general revenue from the state school foundation formula, so in essence the money goes to the state."

Jon K. Rust is co-president of Rust Communications.

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