EDC mistake provides R.I. with opportunity to learn for future
To the editor:
Your Morning Call e-newsletter (“Legal fees mounting in 38 Studios case,” Sept. 18, 2012), prompts several observations.
I hope there is enough money for potential recovery to justify the large legal fees involved. Before the state spends any more of our money on this, I think they have an obligation to tell the public how much we might be able to recover.
The state should not be using taxpayer money for highly risky ventures. Video game development is an extremely volatile business. Backing a 38 Studios is more like gambling than investing.
I’m not aware Curt Schilling has a successful business track record to indicate he has the proven ability to lead a successful venture. Unlike with a restaurant or bar, his sports celebrity contributes nothing to potential sales in the video-gaming business.
That the cash-flow problem of 38 Studios came as a surprise to the state indicates their monitoring procedures were inadequate.
Rhode Island’s ranking as one of least-attractive states for business is due to overregulation, high taxes and political corruption. We’ve recently made some progress but not nearly enough. If we fix the underlying problems, we won’t have to bribe businesses to start, relocate and expand here.
In the coming elections, voters should pay attention to the pro-business histories of incumbents and positions of challengers. The only way our business climate can improve is if we elect politicians who are committed to serious reform.
As regrettable as mistakes are, they are far worse if we don’t learn from them.