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Moral hazard, 38 Studios and wasteful public spending
A “moral hazard” is defined as a lack of incentive to guard against risk where one is protected from its consequences. more
Guest Column: Ken Block | 6/11/12
Chafee: State eager to aid small-business growth
At a business-community outreach forum on June 5, Gov. Lincoln D. Chafee made it clear that despite the dark cloud of 38 Studios LLC’s implosion hanging over Rhode Island, the state remains ever-ready to help small-business development. more
38 Studios declares bankruptcy as formal investigation begins
(Updated 6:00 p.m.) Former Red Sox pitcher Curt Schilling’s beleaguered video game company 38 Studios LLC has declared bankruptcy as a formal investigation of the company begins. more
| 6/7/12 | 1 comment
EDC role, leadership in doubt
When the R.I. Economic Development Corporation finally emerges from the turmoil surrounding its $75 million loan guarantee to Curt Schilling’s 38 Studios LLC, the quasi-state agency in charge of growing business activity in the state may be unrecognizable. more
House Finance Committee approves $8.1B 2013 budget
The House Finance Committee unveiled and then approved an $8.1 billion fiscal 2013 state budget late Thursday night, which scraps controversial meals, hotel and sales tax expansions more
RIPEC to examine EDC, as Chafee names 3 to board
The Rhode Island Public Expenditure Council will examine the current structure and operation of the R.I. Economic Development Corporation in light of the recent 38 Studios LLC loan guarantee debacle, Gov. Lincoln D. Chafee announced Thursday. more
Deloitte to audit 38 Studios’ books
The R.I. Economic Development Corporation has commissioned a forensic audit of 38 Studios LLC to learn how Curt Schilling’s beleaguered video game company ran out of money and how much the former pitcher has put into it. more
Chafee stands firm against Schilling accusations
Gov. Lincoln D. Chafee Tuesday rejected 38 Studios LLC founder Curt Schilling’s suggestion that Rhode Island sabotaged the beleaguered video game company and drove potential investors away with public comments about its potential demise. more
38 Studios’ former employees in high demand
Rival game companies are lining up to hire the recently unemployed staff of 38 Studios LLC, former Boston Red Sox pitcher Curt Schilling’s embattled gaming company, according to Boston.com. more
| 5/29/12
State must learn from 38 Studios’ fall
“It looks like the EDC got it right this time.” more
5/28/12
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