Business Organizations Urge RI Speaker to Repay 38 Studios Loan Debt

June 4, 2014 - GamePolitics Staff

House Speaker Nicholas Mattiello received a letter from Rhode Island business organizations urging the General Assembly to budget taxpayer money to repay the roughly $90 million owed to bond holders in the 38 Studios deal. The letter was signed by ten organizations, including a number of chambers of commerce and business groups.

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Protestors Tell RI Lawmakers: Don't Bail Out 38 Studios

June 3, 2014 - GamePolitics Staff

At a recent State House rally, a small group of protesters urged lawmakers and the Governor not to bail out 38 Studios.

"It’s a scam. It’s a rip-off. We shouldn’t pay it back," said one protestor - as reported by the Providence Journal.

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RI Legal Battle Against 38 Studios Could Cost Taxpayers 'Millions'

May 29, 2014 - GamePolitics Staff

According to this GoLocal Providence report, the legal battle against 38 Studios has already cost the state $840,000 in legal fees and related costs, and could cost taxpayers "millions" by the time it comes to a close. Only a fraction of the total amount ($156,000) has gone to the firm representing the state, Wistow & Barylick, Inc.

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38 Studios Loan Deal Serves as Political Fodder in RI Attorney General Race

May 28, 2014 - GamePolitics Staff

The fallout from the $75 million loan given to 38 Studios is continuing to be a hot-button issue in the state of Rhode Island. In the race for Rhode Island Attorney General, one candidate is using the deal in his attack ads against incumbent Attorney General Peter Kilmartin. In a new 60 second attack ad airing on radio in the state, Republican state senator and attorney general candidate Dawson Hodgson's campaign highlights Peter Kilmartin’s 2010 vote for the legislation that allowed the 38 Studios loan guarantee.

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Report: Michael Corso Stood to Gain Millions from 38 Studios Loan Deal Getting Approved

May 23, 2014 - GamePolitics Staff

Another day, another dozen stories coming out of Rhode Island about 38 Studios and how it is affecting several political races this year. The most prominent story today (from the Providence Journal) highlights the revelation that Michael Corso, the Rhode Island lawyer, tax-credit broker, and long-time friend of former House Speaker Gordon D.

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Former 38 Studios Execs Fight To Keep Private Documents Out of Court Case

May 22, 2014 - GamePolitics Staff

Four former top executives at 38 Studios are fighting in federal court to keep more than a half-million documents tied to the bankrupt video-game company 38 Studios. The former executives are being sued in state court by the EDC and the state of Rhode Island. Company founder Curt Schilling, former CEO Jennifer MacLean, former CFO Richard Wester, and 38 Studios board director Thomas Zaccagnino claim that "privileged communications between 38 Studios and its attorneys had been released to the [R.I.

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Candidate for RI Treasurer Criticizes State for Hiring Advisor it is Currently Suing

May 21, 2014 - GamePolitics Staff

Former Rhode Island State Treasurer Frank Caprio (D) is calling on the Gov. Chafee's administration to cancel the state’s new financial advisor contract with a company the state is apparently suing in connection with the $75 million 38 Studios loan deal.

A new two-year contract had been awarded to First Southwest this week, but this deal has not been formally signed according to a spokeswoman for current State Treasurer Gina Raimondo - who is also running for governor. Caprio is running for his old job this year.

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Former RI Speaker: Complying with 38 Studios Case Subpoena Violates Fifth Amendment Rights

May 21, 2014 - GamePolitics Staff

Former Rhode Island House Speaker Gordon Fox said on Tuesday in court (through his attorney) that he was resisting a court order to comply with a subpoena in the state’s 38 Studios lawsuit. His attorney argued on Tuesday that providing the information requested from the state could put him in legal jeopardy.

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38 Studios Board Member Encouraged Company to Hide Financials From Rhode Island Prior to $75 Million Loan

May 20, 2014 - GamePolitics Staff

A top board member of 38 Studios urged company executives in 2010 not to highlight its shaky financial condition when it was negotiating with Rhode Island leaders for a $75 million loan guarantee, according to newly released court documents in the ongoing lawsuit between the state of Rhode Island and various individuals related to the deal.

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RI Gubernatorial Candidate Has Three Questions for Gov. Chafee About 38 Studios

May 16, 2014 - GamePolitics Staff

Cranston, Rhode Island Mayor Allan Fung has challenged Governor Chafee to answer "three important questions" related to his stance that the state must avoid defaulting on the bonds that financed 38 Studios. Fung, who is a Republican candidate for Governor, is skeptical that defaulting on future debt payments will damage the state's reputation and ability to secure credit for future endeavors. He put the following questions to Chafee:

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Former RI Speaker Seeks to Kill Subpoena in 38 Studios Case

May 15, 2014 - GamePolitics Staff

The lawyer representing Former Rhode Island speaker of the House Gordon Fox will be in court today to fight against a subpoena in the 38 Studios case filed by the Economic Development Corp. on behalf of the state.

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RI Gov. Chafee: The State Must Pay Down 38 Studios Loan Debt

May 14, 2014 - GamePolitics Staff

Even as an analyst appointed by Rhode Island Gov. Lincoln Chafee prepared to brief lawmakers on its findings about what would happen if the state fails to make payment on the 38 Studios loan debt, the Governor is taking his case to the public airways. Speaking to WPRI, Chafee reiterated his position on defaulting on the 38 Studios loan deal bonds.

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Rhode Island Gubernatorial Candidate Urges Lawmakers to Stop Paying 38 Studios Loan Debt

May 13, 2014 - GamePolitics Staff

Rhode Island Republican Gubernatorial candidate Ken Block is telling the state's legislative leaders to "reject calls to repay the 38 Studios bonds."

"The latest version of the debate is once again boiling down to who deserves to be protected—38 Studios bondholders or the taxpayers of Rhode Island," Block said Monday.

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Expert Warns RI Lawmakers About Defaulting on 38 Studios Loan

May 9, 2014 - GamePolitics Staff

An independent analyst who looked at the Rhode Island 38 Studios loan repayment plan said that defaulting on the debt related to the $75 million loan plus other penalties and interest would damage Rhode Island's bond rating to junk status and could harm the state's overall business climate.

The report from Minnesota-based SJ Advisors said that defaulting on the loan would bring increased borrowing costs and harm to the state's reputation, and could lead to a "contagion effect impacting other Rhode Island issuers and even taint the business environment."

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38 Studios Lawsuit Defendants Ask Judge to Compel Governor's Office to Produce Documents

May 9, 2014 - GamePoliics Staff

Defendants in the EDC's lawsuit against 38 Studios say that Rhode Island Governor Lincoln Chafee's office has continually delayed the production of documents needed to mount a proper defense and have asked a judge to order them turned over.

Lawyers for the defendants call these documents critical to their cases and say they are needed to go forward with the depositions. They want Judge Michael Silverstein to order them produced by May 23. Governor Chafee's office has not yet filed a response.

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Governor's Office Met With 38 Studios Lobbyist in 2011, 2012

May 8, 2014 - GamePolitics Staff

Richard Licht, director of the R.I. Department of Administration for Gov. Lincoln Chafee, said that he met with Michael Corso twice to talk about getting 38 Studios tax credits. Corso is an attorney who signed a $300,000 contract with Curt Schilling's game development company to lobby government officials in the state.

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The Ghost of 38 Studios Haunts Some Rhode Island Lawmakers

May 7, 2014 - GamePolitics Staff

As expected the failed 38 Studios loan deal is a major issue in Rhode Island's election campaigns and primary challenges. Even as the Secretary of State is making headlines this week for launching an investigation into possible lobbying violations by 38 Studios, critics of Secretary of State A. Ralph Mollis and Attorney General Peter Kilmartin on Tuesday jumped on the news by pointing out that both politicians dropped the ball during the loan deal approval timeframe.

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Rhode Island State Police Help Secretary of State Investigate Possible 38 Studios Lobbying Violations

May 7, 2014 - GamePolitics Staff

The Rhode Island State Police have joined the Rhode Island Secretary of State’s office in investigating potential lobbying violations by a political insider who represented 38 Studios prior to receiving its $75 million loan guarantee from the state.

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Rhode Island Lawmaker Received Death Threat for Investigating 38 Studios Loan Deal

May 6, 2014 - GamePolitics Staff

Rhode Island State Representative Michael Chippendale (R-Coventry) claims that he has received a death threat against himself and his family for investigating 38 Studios. Chippendale, the secretary for the House Oversight Committee investigating the failed $75 million loan deal for Curt Schilling's 38 Studios, said that he received a threatening letter at his State House office.

"It basically said that I have a beautiful family and I should stop poking around for their sake,” said Chippendale.

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RI Secretary of State Launches Investigation Into 38 Studios Lobbying Activities

May 6, 2014 - GamePolitics Staff

A news report on 38 Studios' alleged lobbying of the Rhode Island government prior to its $75 million loan deal in the state has sparked an investigation through the Rhode Island Secretary of State's office, according to WPRI.

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RI Lawmakers Invite Two More People Involved in 38 Studios Loan Deal to Testify

May 2, 2014 - GamePolitics Staff

Rhode Island State Representative Mike Chippendale, who is also the Senior Deputy Minority Leader and Secretary of House Oversight, has requested that Michael Corso and Sean Esten  appear before the Oversight Committee regarding the 38 Studios bond approval deal. The request is for a voluntary appearance before the committee and not a subpoena. Corso's testimony is sought after because he served as lawyer and consultant for 38 Studios, while Esten is a former Financial Portfolio Manager for the RI Economic Development Corporation.

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Rhode Island Makes Interest Payment Related to Failed 38 Studios Loan Deal

May 1, 2014 - GamePolitics Staff

Today Rhode Island lawmakers will take money from the general fund to make its first payment to the private investors who purchased the $75 million in high-risk, high-yield bonds that financed retired Red Sox pitcher Curt Schilling’s bankrupt video-game company 38 Studios.

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Rhode Island Lawmaker Urges Curt Schilling to Testify on 38 Studios Loan Deal

April 30, 2014 - GamePolitics Staff

The Rhode Island House Oversight Committee has written a letter to former Red Sox pitcher Curt Schilling asking him to testify before the committee as it continues its review of the $75 million loan deal that lured his video game company to the state. Chairwoman Karen MacBeth (D-Cumberland) told the Daily Journal on Wednesday that her office sent letters out last week to six other individuals she hopes will come before the panel in May.

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Rhode Island House Oversight Committee Reveals 38 Studios Witness Wish list

April 11, 2014 - GamePolitics Staff

Members of the Rhode Island House Oversight Committee said during a hearing on Thursday that they want to hear from former Red Sox pitcher and 38 Studios founder Curt Schilling and ex-Speaker of the House Gordon Fox as part of their ongoing review of the state's deal to lure 38 Studios from Massachusetts to Rhode Island with a $75 million loan guarantee.

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Rhode Island House Oversight Panel Meets Today on 38 Studios

April 10, 2014 - GamePolitics Staff

The new chairwoman of the House committee that has been looking into the failed 38 Studios deal is holding her first hearing today, according to the Associated Press. Oversight Chairwoman Karen MacBeth has scheduled a hearing later today on issues related to the state’s lawsuit against former Redsox pitcher Curt Schilling and other executives at the now-bankrupt 38 Studios.

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RI Gubernatorial Candidate Praises Appointment of 38 Studios Loan Critics to House Oversight Committee

April 3, 2014 - GamePolitics Staff

Rhode Island gubernatorial candidate Ken Block (R) is as pleased as punch that newly-appointed House Speaker Nicholas Mattiello has appointed two long-time critics of the 38 Studios loan to leadership positions in the House Oversight Committee.

"They both have records of standing up to the political establishment and fighting against the back room corruption of the 38 Studios deal," Block said of Reps. Karen MacBeth, the new chairwoman, and Spencer Dickinson, the new vice-chairman.

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Rhode Island Speaker Hopes Subpoenas Won't Be Necessary in 38 Studios Case

April 3, 2014 - GamePolitics Staff

The new Rhode Island Speaker of the House, Nicholas Mattiello, says that he is hopeful that it will not be necessary to subpoena witnesses who were in some way involved in the 38 Studios loan guarantee, the Providence Journal reports.

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Rhode Island House Oversight Committee Chair Wants to Subpoena Key Figures in 38 Studios Deal

April 2, 2014 - GamePolitics Staff

The new chairwoman of the Rhode Island House Oversight Committee said that she wants to issue subpoenas to key figures in the 38 Studios deal including former House Speaker Gordon Fox. Rep. Karen MacBeth (D-Cumberland) said the committee could also seek to subpoena former House Finance Chairman Steven Costantino, as well as current and former employees of the Economic Development Corp.

MacBeth has been a vocal critic of the deal for quite some time and pushed hard to avoid paying back money owed on bonds related to the 38 Studios loan.

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Report: Rhode Island Economic Development Agency to Hold Meeting Related to 38 Studios Litigation Next Week

March 27, 2014 - GamePolitics Staff

The Rhode Island Economic Development Agency (formerly the Economic Development Corp.) has scheduled a special meeting about its lawsuit against 38 Studios next Monday, according to the Associated Press.

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RI Speaker of the House Relinquishing Leadership Role After FBI Raids

March 26, 2014 - GamePolitics Staff

While California State Senator Leland Yee (outspoken anti-video game crusader and author of the 2005 California video game law that was inevitability struck down by the U.S. Supreme Court in 2010) is getting a lot of press at the moment for being arrested by the FBI for alleged bribery and corruption, he is not the only state senator connected loosely with the video game industry in trouble this week.

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Papa MidnightBut it's not about harrassment (http://thinkprogress.org/culture/2014/10/23/3583347/felicia-day-gamergate/).10/23/2014 - 1:58pm
Papa MidnightIn other GamerGate news, Felicia Day (gamer and actress (Eureka, Supernatural), posted her concerns about GamerGate. Doxxed within the hour.10/23/2014 - 1:58pm
Papa MidnightNot for nothing, but considering how Ubisoft titles tend to be horribly unoptimised ports, those requirements actually seem low - especially if you plan to consistently run at 60fps (I'm looking at you "Black Flag" and Splinter Cell).10/23/2014 - 1:55pm
Papa Midnighthttp://www.pcgamer.com/assassins-creed-unity-system-requirements-rumoured-to-be-steep/10/23/2014 - 1:54pm
Neo_DrKefkaI'm upset at all parties but a cue to replace one bad apple for another does not solve the problem. Perhaps I expect to much out of #GamerGate because the early streams were about progress & solutions now they are about a persons ego talking about drinkin10/23/2014 - 1:35pm
prh99Honestly I've never liked Gawker, and considering their own behavior the self righteous indignation in the wake of GG rings a bit hollow. If my email causes them to lose money I will not feel even a twinge of guilt.10/23/2014 - 1:00pm
Papa MidnightNeo_DrKefka: Till outlets such as IGN and GameSpot so much as even acknowledge the mere existence of "GamerGate", I highly doubt it will affect their modus operandi anytime in the future - near or otherwise.10/23/2014 - 12:26pm
Neo_DrKefkaWhat GamerGate is essentially doing whether people like it or not its going to change the gamingmedia but inturn its also going to replace some outlets & practice the same wrongs they claim they fought against. Its happening already look at TheRalphRetort10/23/2014 - 12:18pm
Neo_DrKefkaIf a company claims it supports the Klan or another offensive organization than the advertiser needs to make sure they're brand is not tainted so they pull they're ads. One side does not determine the right to determine what is universally offensive.10/23/2014 - 12:14pm
Neo_DrKefkaActions have consequences however. If you do a Bioware and insult EA's customers would you be suprised if they lost advertisers and customers? Advertisers are not giving money to charity to they putting ads to make money.10/23/2014 - 12:13pm
Matthew Wilsonwhile I disagree with people pushing pressure on advertisers, consumers do not have many other options to show there disagreements with a article or writer. if people are going to do it, it should be for somthing much worse then that guy did.10/23/2014 - 12:10pm
Neo_DrKefkaNow they are about KingofPol & InternetAristocrat making streams that are bait and switch Streams that claims they are about GG but are about them getting drunk and them making fun of Autistic people10/23/2014 - 12:09pm
Neo_DrKefkahttp://tinyurl.com/nhlbgq8 These people some of them are using GamerGate to prop there careers up. GamerGate streams used to be about ideas of change and solutions to problems.10/23/2014 - 12:09pm
Neo_DrKefkaI believe the message of #GamerGate but I do not believe in the Cult of Personality that has formed. Where sites like TechRaptor gained exposure and they are a great site. Sites like TheRalphReport are using this movement for there own personal gain.10/23/2014 - 12:05pm
ZippyDSMleeSo has the whole GG thing become toxic to the point its time to move on yet?10/23/2014 - 11:54am
prh99As for GG, I am surprised they haven't pulled out every 4chan spawned mob and script kiddie's favorite tool, LOIC to DDoS their foes. Or maybe they did and I missed it.10/23/2014 - 11:38am
BillIn his article Max says "I've been told that we've lost thousands of dollars already, and could potentially lose thousands more, if not millions."10/23/2014 - 11:25am
BillJames, do you think new advertisers won't bring this up when negotiating Ad rates? From a business standpoint, if I were to advertise on Gawker I would point to this and be pretty firm on lower rates.10/23/2014 - 11:21am
prh99Had my say, what they do after that is their business. Though calling your current advertisers "craven idiots" and "pusillanimous morons" probably isn't all that smart if you are going to complain about lost revenue from pulled ads.10/23/2014 - 11:18am
james_fudgeand when they do they will innoculate themselves from this stuff before the deal is even signed10/23/2014 - 11:02am
 

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