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Typical right wing scumbag hypocrite who hates big government except when it's lining his pockets. He's basically a bigot who likes money, the real base of the Republican party.
My 9 year old could have told you it was a bad investment.
Making at least $75 million would require 38 Studios to sell 1.5 million copies of a game at $50 a pop (ignoring all other costs that a game studio has).
How many games sell that many copies every year? Not many.
To provide a loan guarantee to a company with no track record is at the height of stupidity. There is a reason that Schilling wasn't able to get money from any private investor or venture capitalist.
My 9 year old could have told you it was a bad investment.
Making at least $75 million would require 38 Studios to sell 1.5 million copies of a game at $50 a pop (ignoring all other costs that a game studio has).
How many games sell that many copies every year? Not many.
To provide a loan guarantee to a company with no track record is at the height of stupidity. There is a reason that Schilling wasn't able to get money from any private investor or venture capitalist.
BTW OP His name is Curt Schilling not Kurt.
Curt or Kurt, he isn't to proud to take Corporate Welfare.
Why worry about how much people are getting on Food Stamps while the State is handing this parasite millions
This isn't a bailout. Rhode Island politicians wanted his business to relocate in Rhode Island from Massachusetts and offered inducements to make that happen. They would have been better off making their overall business climate favorable then selecting a few businesses to offer sweeteners to.
I saw a 60 minute segment on his business and I was somewhat skeptical of its success. The video game industry is a very difficult one and he was making it look too easy.
Quote:
Several big Boston venture capital firms had refused to invest in Schilling’s company, seeing it as too risky, the Boston Globe reported. Schilling tried to get a massive bundle of loan guarantees from the State of Massachusetts, but even Gov. Deval Patrick’s administration balked at the figures Schilling wanted. Rhode Island took the risk, and Schilling moved his company there.
Last week, the Rhode Island economic development director resigned amid the news that 38 Studios could not make a required loan repayment. The company wound up giving the state a $1.2 million check only to acknowledge that it would bounce if cashed. Schilling began asking for even more taxpayer-backed loans to keep the company going.
Thankfully, that kind of drama cannot happen in New Hampshire. The state has no “incentives” program to lure out-of-state companies here with loan guarantees or special tax breaks. Our incentives are our consistently low taxes, low regulations and low spending. We have a single state employee who is dispatched to Massachusetts to find business executives there and tell them how great New Hampshire is for business.
He said in a desperate attempt to change the subject
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