Comments on: Did 38 Studios have a distribution deal for Copernicus, or not?

By: sleepless in ri

sleepless in ri — Tue, 29 May 2012 18:59:59 +0000

Where does Savage get the authority to say Rhode Island would give up first standing?????

Why in the world would the state do that???

My word, there is no shame when it comes to taxpayer dollars!!!!!!!!!!

By: sleepless in ri

sleepless in ri — Tue, 29 May 2012 16:16:31 +0000

This whole debacle becomes more and more incredulous as it goes along. How could the EDC possible have approved this disastrous deal at the time when Carcieri was out the door? What would have led the EDC to go to such lengths with taxpayer money when its Chairman Carcieri was obviously leaving?

Knowing RI there is much more to this story and we count on the press to unveil whatever it is and take us where it leads.

By: Richard Langseth

Richard Langseth — Tue, 29 May 2012 15:44:12 +0000

The bond disclosure document also noted that 38 Studios was in the process of converting to a Rhode Island domiciled C Corporation. That never happened and 38 Studios remained ineligible for Motion Picture Tax Credits. Now Curt Schilling is telling the press that his company is eligible for these tax credits when that is clearly not the case.

Since the state does not always make provisions to fund tax credits through budgeting this becomes a real issue. The FY 2013 Capital Budget includes $152 million of borrowing to pay for past historic tax credits. Who would actually pay for motion picture tax credits if they are given to Schilling. I have not heard this discussion in any news story.