Former Red Sox pitcher and 38 Studios founder Curt Schilling did something he hasn't done in a long time: he talked about the 38 Studios loan deal given to him by the state of Rhode Island. In a blog post mostly addressing people on Twitter who threatened to rape his daughter and made jokes about having sex with her, Schilling spent a little time talking about the failed loan deal and the subsequent closure of the studio he founded in 2009.
The 38 Studios deal will be the cautionary tales lawmakers use for the foreseeable future every time someone puts their hand out looking for state money. For example, lawmakers in Providence told the new owners of the minor league baseball team, the Pawtucket Red Sox, that they will not be able to provide any financial assistance to the team when it relocates to the city.
Lawmakers admitted that they are leery of spending taxpayer money on the project because of the failed 38 Studios loan deal that left the state on the hook for nearly $100 million.
In a report earlier this month we reported that former Rhode Island Secretary of State Ralph Mollis had been fined $18,000 by the state's Superior Court for misusing the judiciary process in the case involving a former 38 Studios associate who did not register as a lobbyist before meeting with politicians to secure a $75 million bond deal for the studio prior to 2010.
Former Rhode Island Secretary of State Ralph Mollis may be rethinking his decision in 2014 to go hard after 38 Studios attorney Michael Corso for lobbying state lawmakers (prior to the approval of a $75 million loan in 2010) without registering with his office. Mollis filed a petition with the Superior Court trying to involve it in the case.
After a defeat in the Rhode Island Superior Court (details here), outgoing Secretary of State Ralph Mollis has approved a decision concluding that a former 38 Studios board member engaged in unregistered lobbying.
In Rhode Island when a constituent drops the name "38 Studios," it's probably not going to illicit warm and fuzzy feelings in anyone. So when one vocal detractor raised the specter of the 38 Studios failure to describe "Rhode Map RI," people got a little defensive.
The Rhode Island State Planning Council has voted unanimously in favor of the controversial Rhode Map RI and has adjourned the meeting. The plan is a bit complicated and includes federal grants, but there are a bunch of details on it here.
Oral arguments will be heard Tuesday in a Rhode Island Superior Court hearing to determine whether soon-to-be former Rhode Island Secretary of State A. Ralph Mollis abused the judiciary system. The case revolves around Mollis involving the RI Superior Court in his administrative hearings investigating "unregistered lobbying" by attorney Michael Corso on behalf of 38 Studios prior to the company receiving a state-backed loan for $75 million loan in 2010.
As Democrat Gina Raimondo waited anxiously for the votes to be tallied in Rhode Island’s closely contested race for governor, an unknown individual initiated a trade on 38 Studios bonds, the Providence Journal reports. This year the $75 million loan deal for 38 Studios approved in 2010 by RI lawmakers and back by bonds was a big issue on the campaign trail.
Incumbent Rhode Island Attorney General Peter Kilmartin (D) managed to win with confidence on Tuesday night's election, despite his Republican opponent using his 2010 vote of approval for a $75 million loan for former Red Sox pitcher Curt Schilling's now bankrupt 38 Studios. The former Pawtucket Police Officer who later served in the state legislature and then climbed to the leadership role of House Majority Whip, won Tuesday's contest handily, though the exact vote tally was not available as of this writing.
With Big Huge Games owner 38 Studios all but a memory, it looks like the original studio founders are bringing it back to life. According to this Game Informer report, the original founders of Big Huge Games - Brian Reynolds and Tim Train - have found a way to bring back the studio from the dead. Epic Games bought the rights to the studio, hired old employees from the company and renamed them Impossible Games.
According to the Providence Journal, a hearing set up by Rhode Island Secretary of State A. Ralph Mollis hopes to get answers from former Red Sox pitcher and 38 Studios founder Curt Schilling about his lobbying efforts in the state prior to the RI government green lighting a $75 million loan deal for his company.
The lawyer in charge of the 38 Studios' bankruptcy is trying to recoup money from payments made to a lawyer with close ties to the company. Jeoffrey Burtch, the trustee in the federal bankruptcy of the 38 Studios' legal case, wants Providence lawyer Michael Corso to return some of the money that 38 Studios paid him.
Target 12 News out of Providence, Rhode Island is reporting that the Rhode Island Secretary of State's office held its first hearing focusing on the alleged lobbying activities of former 38 Studios board member Thomas Zaccagnino on Thursday. Zaccagnino was not present at the hearing, according to the report.
The wife of former Red Sox Pitcher and 38 Studios founder Curt Schilling is asking that a family computer auctioned off in an estate sale after the studio went bankrupt be returned, according to a report in the Providence Journal. Shonda Schilling is saying that the computer was auctioned off by accident, but some seem to be disputing that.
Rhode Island Republican gubernatorial nominee Allan Fung released the first TV attack ad of the fall campaign this week taking aim at Democratic rival Gina Raimondo for supporting repayment of the 38 Studios bonds.
The ad describes Raimondo's support for paying back the bonds related to the 38 Studios deal as the taxpayers bailing out "Wall Street investors" who "took a risk and went bust." The ad also claims that Raimondo is "looking out for Wall Street, not Main Street."
The fight over attorney Michael Corso's part in allegedly lobbying Rhode Island officials is far from over, as highlight by the Providence Journal. Last week, hearing officer Louis DeSimone issued a decision giving attorney Michael Corso seven days to file lobbyist disclosure reports or pay a $2,000 fine.
According to the Providence Journal, the Rhode Island Superior Court has denied a request by Wells Fargo to stop the progress of the state’s ongoing lawsuit against those involved in the failed 38 Studios loan deal while the Rhode Island Supreme Court weighs whether a 2014 law that allows for streamlining settlements is legal under the state's constitution.
The Providence Journal reports that Cumberland, Rhode Island mayor Daniel J. McKee has won a three-way Democratic primary race for lieutenant governor against the Rhode Island secretary of state A. Ralph Mollis and a State Rep. Frank G. Ferri who represents Warwick. McKee won just over 43 percent of votes, compared with 36 percent for Mollis and about 21 percent for State Rep. Frank G. Ferri. McKee will face Republican primary winner Catherine T.
Officials for the state of Rhode Island announced this week that its first settlement payment from its ongoing lawsuit with principles involved in the failed 38 Studios $75 million loan deal has been received. According to a Providence Journal report, the state received a $4.37 million check this week from the insurance company representing two of the 14 defendants in the case. After expenses, the state will be able to bank about $3.2 million.
The Rhode Island Secretary of State’s office held a hearing this morning in a continuation on the probe into possible lobbying violations by Providence attorney Michael Corso, according to WPRI Target 12 News. Corso represented 38 Studios to state officials without registering as a lobbyist in 2010, according to Secretary of State A. Ralph Mollis.
At least one good thing came out of the state of Rhode Island losing $75 million dollars (plus an undetermined amount in related costs including penalties, etc.) from the failed loan deal with Curt Schilling's 38 Studios: the success story of Danny Mandel and Ben Chichoski.
When 38 Studios went bankrupt and left dozens of its employees unemployed and abandoned - including many who relocated to Providence and the surrounding area to work there - employees like Danny Mandel and Ben Chichoski had to find something else to do in order to survive.
The Rhode Island Republican Party will host a presentation this evening to inform the general public about the failure of 38 Studios and its potential long-term impact on state finances. The event will be held at the GOP headquarters in Warwick, Rhode Island.
State Representative Michael Chippendale, a member of two congressional oversight committees looking into the 38 Studios deal, will give a slideshow presentation on the issue. That will be followed by an audience Q&A session.
Providence, Rhode Island-based Roger Williams University is eyeing the former offices of 38 Studios as a future home, according to a report in the Providence Journal.
A Rhode Island judge ruled on Friday that the state's current General Treasurer, Gina Raimondo, must submit to a deposition in the 38 Studios lawsuit filed by the Rhode Island Economic Development Corporation. The lawsuit is the state's attempt at recouping money from the failed $75 million state loan guarantee given to Curt Schilling's video game company in 2010.
The Providence Journal reports that a hearing looking into 38 Studios' lobbying activities prior to securing the now-infamous $75 million loan from the state of Rhode Island, has been delayed to late-August.
Rhode Island lieutenant governor candidate Dan McKee (D) has vowed to launch an online petition later this week calling for an independent counsel to review at "arm's length" the failed 38 Studios deal.
The current Cumberland, Rhode Island mayor says this particular effort is an attempt to pressure elected officials to do more to get answers. McKee has been highly critical of current elected officials over their handling of the 38 Studios deal and subsequent investigations into it.
A hearing related to the failed $75 million loan deal for former Red Sox pitcher Curt Schilling's video game company 38 Studios that was supposed to take place yesterday (July 17) has been rescheduled for early August. Some of the key players in the deal were asked to attend, including Curt Schilling, Michael Corso - who represented the company as its legal counsel - and Thomas Zaccagnino, one of the company’s board members.