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Awards Missing No Action By Andy Marken When Louis B. Mayer, founder of then powerful MGM, held his party on May 16, 1929 to give a few of his conscript filmmakers some rewards for staying in line, his rationale was delightfully simple and … it worked. When Louis B. Mayer, founder of then powerful MGM, held his party on May 16, 1929 to give a few of his conscript filmmakers some rewards for staying in line, his rationale was delightfully simple and … it worked. It was a small affair – 270 attendees dropping five bucks (equivalent to $75 today) for a 15-minute presentation ceremony with a deviously simple goal, "I found that the best way to handle [filmmakers] was to hang medals all over them ... If I got them cups and awards, they'd kill them to produce what I wanted.” AMPAS (Academy of Motion Picture Arts and Sciences) hosted the affair, giving Academy Awards to the pre-announced winners including Janey Gaynor, best actress; Emil Jannings, best actor; and Frank Borzage, best directing. Even though they didn’t like him very much (the word is he was a pain in the B***), Charlie Chaplin, received a special honorary award for his all-around contributions to the film industry.