Reshuffled 38 Studios Deal Doesn’t Appease Foes

September 10, 2010 -

The Rhode Island Economic Development Corporation’s (EDC) adjustment of a loan used to lure Curt Schilling’s 38 Studios from Massachusetts to Rhode Island did little to throttle hostility towards the deal from a pair of gubernatorial candidates.

Under new terms, about $20 million of the $75 million dollar loan will be held aside in escrow in case it’s needed to pay for three years of repayments on the loan. 38 Studios will end up with about $51 million under the new stipulations.

Democratic candidate for governor Frank Caprio said that the loan deal has now gone from “bad to worse,” indicating to the Providence Journal that the setting aside of money for repayments only highlights the risk of the whole transaction.

Independent gubernatorial candidate Lincoln Chafee agreed, saying that the reserve is a warning sign that 38 Studios would not be able to repay the loan.

EDC spokesperson Melissa Chambers seemed to have heard just about enough criticism of the deal, saying, “We've moved forward at the EDC on track with this transaction through all the noise.”


Comments

Re: Reshuffled 38 Studios Deal Doesn’t Appease Foes

All this will do is reinforce the notion that you cant trust politicians to keep their end of such a deal especially in an election year. As if that needed any reinforcing in the fist place...

---------------------------------------------------------------------------

"The most difficult pain a man can suffer is to have knowledge of much and power over little" - Herodotus

--------------------------------------------------------------------------- "The most difficult pain a man can suffer is to have knowledge of much and power over little" - Herodotus

Re: Reshuffled 38 Studios Deal Doesn’t Appease Foes

Wait... so they are complaining the deal is risky, then complaining that mechanisms put in place to decrease the risk are proof that the deal is too risky?

*blink*

My head hurts.

 
Forgot your password?
Username :
Password :

Shout box

You're not permitted to post shouts.
ZippyDSMleeIf publishers didn't play the region lock game then it would not be an issue.Tho I have seen more russian/chec games than asia ones on ebay.If they do not like it then mabye lower thier region prices to make alitte vrs none.09/22/2014 - 9:54am
MaskedPixelantehttp://hexus.net/gaming/news/industry/74981-pc-game-code-stripping-widespread-says-report/ Thievery, or perhaps the very idea of capitalism? You decide!09/22/2014 - 9:47am
MaskedPixelantehttps://www.youtube.com/watch?v=oDPCmmZifE8 John Oliver exposes Miss America.09/22/2014 - 9:00am
james_fudgeI reiterate now - not one email to-date.09/22/2014 - 8:37am
james_fudgeAnd this: https://archive.today/uIjwE09/22/2014 - 8:37am
james_fudgeLet me put this here: https://archive.today/hbtQJ09/22/2014 - 8:35am
InfophileRelevant to this site: http://nielsenhayden.com/makinglight/archives/015984.html#015984 - Apparently allowing comments to be downvoted leads to worse behaviour09/22/2014 - 6:18am
Andrew EisenMP - I love that game but damn my squadmates are bozos.09/21/2014 - 10:05pm
MaskedPixelanteSWAT teams should be banned until they; 1. Learn not to walk into enemy fire, 2. Learn to throw the flashbang INTO the doorway, not the frame and 3. Stop complaining that I'm in their way.09/21/2014 - 9:53pm
Craig R.I'm getting of the opinion that SWAT teams nationwide should be banned. This probably isn't even the most absurd situation in which they've been used.09/21/2014 - 9:26pm
Andrew EisenAnd, predictably, it encouraged more parody accounts, having the exact opposite effect than what was intended.09/21/2014 - 7:07pm
E. Zachary KnightThis is called a police state people. When public officials can send SWAT raids after anyone for any offense, we are no longer free.09/21/2014 - 6:41pm
E. Zachary KnightJudge rules SWAT raid tageting parody Twitter account was justified. http://www.theguardian.com/world/2014/sep/19/illinois-judge-swat-raid-parody-twitter-peoria-mayor09/21/2014 - 6:41pm
MechaTama31quik: But even if it did break, at worst it is only as bad as the powder. Even that is assuming that it is dangerous through skin contact, which is not a given if its delivery vehicle is a syringe.09/21/2014 - 4:30pm
MaskedPixelantehttp://www.forbes.com/sites/insertcoin/2014/09/20/isis-uses-gta-5-in-new-teen-recruitment-video/09/21/2014 - 4:25pm
quiknkoldSyringes can break. And in a transcontinental delivery, the glass could've broken when crushed. I work in a mail center. Shit like this is super serious09/21/2014 - 3:25pm
E. Zachary KnightIt doesn't matter what is inside the needle. As long as it requires him to take the step of purposefully injecting himself, the threat of the substance is as close to zero as you can get.09/21/2014 - 1:27pm
quiknkoldEzach: I'm not talking about the needle. I'm talking about what's inside. Geeze. Depending on what it is, the sender could be guilty of bioterrorism.09/21/2014 - 12:51pm
E. Zachary Knightquiknkold, No. That syringe is not worse than white powder or a bomb. The syringe requires the recipient to actually inject themselves. Not true for other mail threats.09/21/2014 - 12:49pm
Andrew EisenThe closest to a threat I ever received was a handwritten note slipped under my door that read "I KNOW it was you." Still no idea what that was about. I think the author must have got the wrong apartment.09/21/2014 - 12:28pm
 

Be Heard - Contact Your Politician