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38 studios+ RI
Bobbie203
Member Posts: 136
RI is dumb, if they wasnted 3 million+ box sales. RI government should have invested in blizzard ent, or bethesada.
Not some new company ran by curt schllings.
If i were the governor, i would ahve gave out loans to safe investment such as those 2 companies and not worried about my taxpayers Returns on investment but o well.
In fact, i woudl sleep well in the night knowing i would get back my loan investment on time so to speak.
Comments
The whole point of the loans was to bring corperate backed jobs to RI. Investing in Blizzard or Bethesda would have been pointless for them as niether is going to move their multi billion dollar businesses to RI for a measly 75 million. What they should have done is split the money up and backed a lot of smaller businesses to attract new jobs instead of putting all of their money on one horse so to speak. RI has the second highest unemployment rate in the country(Nevada is first). Their goal was job creation not return on investment. Their stupidity was in getting star struck by a celebrity with absolutely no background in the industry that he was trying to break into. 50 smaller companies would have created 10 times the jobs one big game company would have anyways for probably a far smaller amount than the 75 million dollar payout they gave 38 Studios.
Bren
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Nevada has the highest at 11.7% not Arizona.
http://www.bls.gov/web/laus/laumstrk.htm
Well they were blinded by the (star) light so to speak.
Its true, very few start up ventures would receive loan guarentees from anyone without a solid track record of potential success.
RI made a bad business decision in taking on this deal, as others have pointed out, the money would have been better spent developing their current small business base and trying to help them expand.
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Sorry, my mistake... Corrected.
Bren
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Its a great shame what happened to them.
To whom? 38 Studios or the decent hard working tax paying citizens of RI that got taken for a ride?
Bren
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I would be willing to bet there was a huge kick back involved. You don't get 75 million unless you giving some of it back.
This was a stupid way to waste tax payers money. Tax Incentives is one thing, but to out right loan a company with no track record money is insane. I am all for state investement, but they didnt invest in the company they invested in Curt Schilling.
Monorail....
What a jaded and cynical view of how the world actually works. Well done sir! ::salute::
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Bankruptcy today... not only are they broke, but owe $150 million.
Probe starting - I wonder if anyone will go to jail.
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