Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Since first reported this story is gaining momentum. I wish they had sprinkled the money out to small business's rather than put all RI's money in one basket.
It's bad enough former Governor Carcieri has his finger prints all over this, shame on him!
But now it seams 38 Studios had to give assurances that so many Rhode Islanders had to be hired, needed or not, and so much sq. feet of space, had to be rented in Providence, needed or not.
Putting weight and stress on a startup venture.
This project was doomed from the beginning, the state of Massachusetts wanted nothing to do with it, they really did not need it, or the risk that came with it. They simply aren't that desperate. They... seam to be moving in the right direction.
Enter the state of Rhode Island, desperate for some positive business news, desperate to stop the bleeding, always the "brides maid" of New England...Yea...why not, maybe this will work out.
Give "Gump" credit...he swung the bat and happened to hit the ball on this one.
When the Private sector turns it's nose up to a deal, it's a definite sign to re-think and triple check your facts and figures.
Just like Solyndra, it's O.P.M (Other People's Money), no big deal, why check who and where the competition is.
Obviously, someone dropped the ball, in both cases.
This is a terrible waste of money that this state doesn't have. Maybe they should have given 150 loans of 500K to R.I. business.
When the Private sector turns it's nose up to a deal, it's a definite sign to re-think and triple check your facts and figures.
Just like Solyndra, it's O.P.M (Other People's Money), no big deal, why check who and where the competition is.
Obviously, someone dropped the ball, in both cases.
This is a terrible waste of money that this state doesn't have. Maybe they should have given 150 loans of 500K to R.I. business.
Or maybe just fix the freeking roads.
Your right, seed money for existing business would have been better.
I finally agree with chafee- no more money. I got the impression back when this was announced that a bunch of podunk politicians had been dazzled and duped by fame. This reinforces that impression.
Studio 38 could be a big winner, but software companies don't usually come out
of the gate 3 months after their first product launch at profitability ! For all the complaining,
and total lack of innovative solutions, I would expect no less from our elected officials
including Governor Gump. No, he didn't ink this deal, but he's in a position where he could
force Schilling into an equity deal. Rhode Island could get a stake in the company. Just like
the Feds got stakes in the companies they helped out. We could issue convertible bonds or
negotiate for an outright equity stake, so if Studio 38 goes public on the stock exchange,
Rhode Island would gain, not lose.
Alas, none of our politicians have even mentioned this, because they are all either morons
or would rather complain for sympathy votes. This state is the worst.
We, the taxpayers, should be damn ashamed of ourselves for letting our deceitful political turds loan all the eggs to one ex-baseball player. We were duped. Hook-winked. We are stupid to put up with these thugs in the state legislature. You bet we are damn mad at them, and come election kick every single one out of the state house in a clean sweep.
If anybody is looking for a good math project, go ahead and calculate what these layoffs will cost the State in unemployment benefits.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
