Comments on: Timeline: How 38 Studios collected $49.5M from RI’s $75M loan

By: Strange, sad demise of Curt Schilling's game company « Strange « strange weird funny odd unusual peculiar

Mon, 04 Jun 2012 01:08:02 +0000

[...] out today, but it seems the entire teams at both companies have indeed been let go. WPRI has an excellent timeline of how the tax credit and loan between the state of Rhode Island and 38 Studios developed. [...]

By: Did 38 Studios have a distribution deal for Copernicus, or not? | WPRI.com Blogs

Tue, 29 May 2012 13:52:07 +0000

[...] previous November. The EDC says the money was provided because 38 Studios had entered “into a satisfactory distribution agreement for its Project [...]

By: 38 Studios and Big Huge Games – What happened? | The Killer Guides Blog

Tue, 29 May 2012 05:15:19 +0000

[...] milestones, the company had met enough to receive about $49.5 million of the loans, according to WPRI. The last portion was $1.6 million released in November when the studio finished creating 125 [...]

By: Strange, sad demise of Curt Schilling's game company | Arcade Wheel - All About Gaming

Sun, 27 May 2012 12:09:58 +0000

[...] out today, though it seems a whole teams during both companies have indeed been let go. WPRI has an excellent timeline of how a taxation credit and loan between a state of Rhode Island and 38 Studios developed. [...]

By: Strange, sad demise of Curt Schilling's game company - Gadsit Buzz

Strange, sad demise of Curt Schilling's game company - Gadsit Buzz — Sun, 27 May 2012 02:55:25 +0000

By: Ed

Ed — Sat, 26 May 2012 11:13:21 +0000

Can a Rhode Island Democrat work in the private sector instead of thinking they are owed a living?

By: Rlewis

Rlewis — Fri, 25 May 2012 18:34:19 +0000

Can anyone from the Tea Party put together a coherent sentence?

By: YRI

YRI — Fri, 25 May 2012 16:27:42 +0000

I’m still waiting for our lamestream media to actually delve into why this state should even be allowed to risk taxpayer money on what otherwise is and should be economic decisions made by the private sector. What evidence… historical evidence … that should give us confidence in political judgments? Limiting what politicians can do to us has a better chance of succeeding. Those folks who are believe in the twaddle of politicians/government creating the “fair” society should pay attention to how European countries have been and are doing themselves in with this approach. Or they might want to try California… the Greece of the USA. What we should be concentrating on is limiting state spending,state taxes and fees, and getting as much government out of our face,out of our pockets, and off our backs. Meanwhile, what’s going to happen with that so called “free” state surplus? I’m not holding my breath for any of our fifth rate media to go after this topic. They’re much too busy carrying the water for this state’s governing political culture.

By: 38 Studios: Striking Out | Vicarious Existence

38 Studios: Striking Out | Vicarious Existence — Fri, 25 May 2012 16:13:36 +0000

[...] should be the role of Rick Wester, 38 Studios’ Chief Financial Officer. At some point – and apparently 38 Studios told Rhode Island officials in November 2011 that they’d spent all … – it had to have been clear that the studio was in financial trouble. Yet hiring of new staff [...]

By: MC

MC — Fri, 25 May 2012 14:35:34 +0000

The budget for the edc has been about $17 Million per year. They currently have a staff of 100. (After the downturn the staff was cut 25% but the budget was increased)

The folks I know at the EDC are a bunch of morons.

By: GaryM

GaryM — Fri, 25 May 2012 14:07:38 +0000

Is there any overall analysis on the history of how much taxpayers have put into the EDC vs total benefit out? EDC taxpayer grants are another part of this equation.

There is a wind farm consortium in the East Bay that is about to be placed under the EDC (see S2870).

http://www.rilin.state.ri.us/BillText/BillText12/SenateText12/S2870A.pdf

In 2011, the record shows that an EDC grant in the amount of $335,000 was given to this consortium. The consortium records show that there is still no wind tower, and most of the money was spent on lawyers and PR expenses.

Now this money losing consortium wants to be placed fully under the EDC through legislation. The lawyers and PR folks are all in favor of the legislation. Taxpayers aren’t aware of this.

Will we ever learn?