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10.04.2015
That wasn't supposed to happen.Taxpayers in the small, financially stricken New England state are on the hook for tens of millions of dollars loaned out to the video game company 38 Studios. Now Rhode Island is stuck with the tab of roughly $112 million in loan principal, interest and fees.
Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Founded by former Boston Red Sox star pitcher Curt Schilling, the company was supposed to bring jobs for skilled professionals to a state struggling to expand its workforce. But on Thursday, 38 Studios laid off its entire staff of roughly 400 employees with no pay.


A poll done in September 2010 by CBS affiliate WPRI-TV found 54% of Rhode Islanders opposed the loan, versus 28% in favor. All candidates in the 2010 governor's election publicly opposed the deal, including current Governor Lincoln Chafee.It didn't make a difference. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. The company's main MMORPG project, known as Project Copernicus, was more than a year away from release.
Dent expects Rhode Island to try to sell the assets to a major publisher -- most likely Electronic Arts (EA), since they were 38 Studios' publisher for Reckoning.Financial analyst Michael Pachter, with Wedbush Morgan Securities, thinks 38 Studios might be worth $20 million now.


The video game industry has relied on tax credit packages in return for setting up shop in certain states.



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