38 Studios
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38 Studios may miss out on tax credits
38 Studios LLC, the teetering video game company of former Red Sox pitcher Curt Schilling, could be ineligible for million in state tax credits because the firm is incorporated in Delaware, not Rhode Island. more
| 5/26/12 | 1 comment
MacLean, Blakely leave 38 Studios
(Updated, 6:30 p.m.) Gov. Lincoln D. Chafee on Wednesday said the apparent departure of two of 38 Studios’ top executives – CEO Jen MacLean and Senior Vice President of Product Development John Blakely – "is not good news" for the struggling video game company. more
| 5/23/12
Industry analyst says 38 Studios game assets only worth $20M
Michael Pachter, managing director of equity research at Los Angeles-based Wedbuch Securities told gaming-publication Joystiq that 38 Studios' intellectual property is worth only $20 million. more
38 Studios employees attend job fair
Several 38 Studios employees attended a Providence recruiting event by video game-creator Turbine Inc., according to WPRI-TV CBS 12. more
| 5/23/12
EDC board takes no action on 38 Studios
The R.I. Economic Development Corporation board of directors adjourned its regularly scheduled monthly meeting on Monday without taking any action on the troubled video game developer 38 Studios LLC. more
| 5/21/12
Schilling departs EDC board meeting
(Updated, 7:45 p.m.) 38 Studios LLC founder Curt Schilling, along with a team from his company, have come and gone from the weekly meeting of the board of directors of the R.I. Economic Development Corporation without a comment. more
| 5/21/12
38 Studios previews Copernicus
Still unable to pay its workers, 38 Studios LLC, the cash-strapped video game design firm founded by former Red Sox pitcher Curt Schilling, has released a video trailer for its new game, code-named “Project Copernicus.” more
38 Studios fallout
STOKES RESIGNS: Keith W. Stokes said his decision last week to resign as executive director of the R.I. Economic Development Corporation was a “mutual” agreement with Gov. Lincoln D. Chafee. The move followed closed-door discussions between the EDC board and 38 Studios Inc. on the firm’s decision to default on a $1.125 million fee payment. more
5/21/12
38 Studios’ critics grow after missed fee payment
Swipely CEO Angus Davis was one of many skeptics of Rhode Island’s $75 million loan guarantee to former Red Sox pitcher Curt Schilling’s 38 Studios LLC video game startup two years ago. Now he has even more company in the business community urging state leaders not to sink any more money into the embattled Providence firm since it defaulted on part of its public-financing deal. more
State must keep sight of long-term goals
Rhode Island’s taxpayers were hit with a couple major news stories within the last week, but in neither case should the state’s leaders be distracted from creating a positive economic-development climate in the Ocean State. more
5/21/12
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