Hollywood, Washington, and Wall Street Collide as Dodd Heads Film Association

By Daniel Indiviglio

What do you do after spending three decades in the Senate, leading the Banking Committee, and crafting the biggest financial regulation bill in nearly 100 years? Apparently, you become the CEO of the Motion Picture Association of America. Huh? Oddly enough, that's the path taken by recently retired Senator Christopher Dodd. Alex Ben Block at Hollywood Reporter writes:

Dodd's appointment had been expected and is widely supported by the major studios, who in the past have not always been able to coalesce around one candidate. "Senator Dodd is a battle-tested leader whose reputation as a strong leader on major issues facing this country has prepared him to serve as the ambassador for the movie business. I, along with my colleagues, agree that he was worth the wait," said Fox Filmed Entertainment chairman Jim Gianopulos.

"We're convinced we have found that person in Chris Dodd," said Sony Pictures Entertainment chairman and Chief Executive Officer Michael Lynton. "He is uniquely qualified to represent and protect our industry globally."

It's a little bit hard to understand how Dodd's connections throughout Connecticut, Washington, and the banking industry will prepare him for his new role, but perhaps the entertainment industry knows a different Dodd than us financial reporters. Dodd's motivations to pursue the job are equally mystifying, beyond the obvious nice pay package it no doubt provices. But if it was only money he was after, he probably could have done better at a Wall Street firm like Goldman Sachs, which may have been very eager to capitalize on his connections and influence. So perhaps he's just a huge movie buff eager to meet his favorite A-listers.

Read the full story at the Hollywood Reporter.

This article available online at:

http://www.theatlantic.com/business/archive/2011/03/hollywood-washington-and-wall-street-collide-as-dodd-heads-film-association/71893/