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Old 05-20-2012, 07:06 AM
 
Location: Sierra Vista, AZ
17,531 posts, read 24,628,504 times
Reputation: 9975

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The taxpayers of State of Rhode Island bailed out Schilling to the tune of $75 million?


Schilling strikes out in biz, now milking $75 mil from Rhode Island taxpayers - The Young Turks with Cenk Uygur // Current TV

 
Old 05-20-2012, 07:48 AM
 
Location: Montgomery County, MD
3,236 posts, read 3,925,785 times
Reputation: 3010
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.
 
Old 05-20-2012, 08:24 AM
 
2,095 posts, read 2,575,727 times
Reputation: 1268
Rhode Island is stupid.

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.
 
Old 05-20-2012, 11:14 AM
 
Location: Sierra Vista, AZ
17,531 posts, read 24,628,504 times
Reputation: 9975
Quote:
Originally Posted by Bostonian123 View Post
Rhode Island is stupid.

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
 
Old 05-20-2012, 11:24 AM
 
Location: Syracuse, New York
3,121 posts, read 3,082,399 times
Reputation: 2311
If poor folks could get away with schemes like Schilling's, there'd be no reason for food stamps.
 
Old 05-20-2012, 11:28 AM
 
1,389 posts, read 1,309,815 times
Reputation: 287
We could outlaw corporatism, but where would the donkey and elephant get their campaign money?
 
Old 05-20-2012, 11:42 AM
 
Location: Maryland
18,630 posts, read 19,361,223 times
Reputation: 6461
Is Current where failed MSNBC liberal hosts go?
 
Old 05-20-2012, 11:47 AM
 
Location: Maryland
18,630 posts, read 19,361,223 times
Reputation: 6461
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.
Bloody boondoggle: Rhode Island's Schilling deal | New Hampshire OPINION01
 
Old 05-20-2012, 11:48 AM
 
Location: USA
2,111 posts, read 2,588,443 times
Reputation: 1636
This is also the same idiot that has constantly goes on rants about how unethical and lazy other people are.
 
Old 05-20-2012, 01:29 PM
 
Location: Sierra Vista, AZ
17,531 posts, read 24,628,504 times
Reputation: 9975
Quote:
Originally Posted by EdwardA View Post
Is Current where failed MSNBC liberal hosts go?
He said in a desperate attempt to change the subject
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