RI GOP Gubernatorial Candidate Urges Lawmaker to Withhold Payment on 38 Studios Debt

June 11, 2014 - GamePolitics Staff

Cranston, Rhode Island Mayor and GOP gubernatorial candidate Allan Fung is urging state lawmakers in Providence to pass two bills to prohibit the state from making payment on the failed 38 Studios investment.

During a State House press conference earlier in the week, Fung said that no payments should be made until there is a "thorough investigation" of the issue, including an allegation by one-time GOP congressional candidate Michael Riley that insider trading occurred.

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RI Bill Prohibiting 38 Studios Bond Payment Finally Gets a Committee Hearing

June 9, 2014 - GamePolitics Staff

Legislation proposed earlier this year that would prevent Rhode Island from repaying the 38 Studios bonds is finally being taken up by a House committee. House Oversight Chairwoman Karen MacBeth last week blasted Speaker Nicholas Mattiello in a vote for not letting the bill have a proper hearing.

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Former Rhode Island Lawmaker Says He Was Used to Legitimatize Bill That Funded 38 Studios Deal

June 9, 2014 - GamePolitics Staff

Jon Brien was surprised when Steven Costantino, the chairman of the Rhode Island House Finance Committee asked him on the House floor to if he wanted to co-sponsor a big jobs bill in 2010. Brien, who was a state representative at the time, was on the outs with leadership after voting against House Majority Leader Gordon D. Fox in the mid-session election of a new speaker that year. He was on talk radio often, lambasting House Democratic leaders and their allies for alleged "political shenanigans."

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Former Allies Spar Over Bill Related to 38 Studios Loan Deal

June 5, 2014 - GamePolitics Staff

Earlier this year, it seemed like the new Rhode Island House Speaker Nicholas Mattiello and new House Oversight Committee Chairwoman Karen MacBeth were on the same page when it came to investigating went happened with the failed $75 million 38 Studios loan deal.

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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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Standard & Poor's Puts Rhode Island on 'Negative Watch' Over 38 Studios Loan Payment Uncertainty

May 13, 2014 - GamePolitics Staff

If lawmakers in the state of Rhode Island decide sometime in the future not to pay down the debt associated with the 38 Studios loan, the entire state could end up getting a bad credit rating, which in turn could affect its ability to borrow for important projects.

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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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Poll

Which group is more ethically challenged?:

Shout box

You're not permitted to post shouts.
TechnogeekI'll be honest. I mostly just wanted an excuse to use that line.07/02/2015 - 1:13pm
Andrew EisenIt's long scrolled out of the Shout box so here's the article in question if anyone wants to read it: http://www.wired.com/2015/06/rape-scenes/07/02/2015 - 1:05pm
Andrew EisenOh come now, I don't believe Goth said the Wired author shouldn't be allowed to say what he claims she said.07/02/2015 - 1:04pm
TechnogeekWhich really makes it seem like Goth_Skunk's complaints are nothing more than...(•_•) (-•_•)>⌐■-■ (⌐■_■)...crocodile tears.07/02/2015 - 12:22pm
TechnogeekYou know, despite often as I've seen Gators conflate criticism and censorship, it's still kind of ridiculous to see "YOU SHOULDN'T BE ALLOWED TO SAY THAT" as a response to "you probably shouldn't say that unless you can do it well".07/02/2015 - 12:22pm
Andrew EisenI get the feeling Nintendo suspected the same thing would happen with the Wii U.07/02/2015 - 12:16pm
Andrew EisenMecha - Yeah, pretty much the only way you're getting away with a console that's a full technological generation behind is if it become's a full-blown pop-culture phenomenon like the Wii.07/02/2015 - 12:16pm
Infophile(cont'd) That's basically what the article is saying about rape. If you don't know enough about it to handle it well, it's a bad idea to do it, as you'll probably do it poorly.07/02/2015 - 12:06pm
Infophile@Goth, EZK: For example, I could very well try to write a book about the difficulties of living with Fibromyalgia. No one would stop me. However, since I don't know a thing about living with fibromyalgia, writing a book about it would be a very bad idea.07/02/2015 - 12:05pm
MechaCrashI just hope they realize that part of the problem with the Wii U was its relative lack of power. You can still make good games with what the Wii U has, but third parties won't want to deal with it when they can target the more popular PS4/XB1.07/02/2015 - 10:59am
Andrew EisenReplace "NX" with "QOL" and I'd buy it as potentially true.07/02/2015 - 10:51am
Andrew EisenNintendo to start manufacturing NX in October to target a July 2016 launch with 20 million consoles shipped the first year. Sure... http://www.digitimes.com/news/a20150702PD204.html07/02/2015 - 10:47am
james_fudgeLet's avoid name calling in the shoutbox07/02/2015 - 8:55am
E. Zachary KnightThe Daily WTF has a nice run down of some of the impact to software that the US Supreme Court ruling on gay marriage has. http://thedailywtf.com/articles/i-m-not-married-to-the-idea07/02/2015 - 7:45am
MechaCrashGee, how did people ever get the idea Gaters are morons who argue in bad faith? It's such a mystery.07/02/2015 - 7:03am
E. Zachary KnightGoth, again, no one is saying that we shouldn't be writig uncomfortable subject matter. What people are saying is that chances are you are going to write it poorly so it would be better to not have done it at all.07/02/2015 - 7:00am
Goth_Skunkdiscussed or portrayed in an expressive medium. Such an opinion only serves to stifle discussion. And as I said before, the only thing not worth talking about is what shouldn't be talked about.07/02/2015 - 6:50am
Goth_Skunk@Info: The same reason why I would entertain the notion that the Wired article writer could be right: Curiosity. Except in this case, I'm not curious at all. I'm not interested in hearing anyone's opinion on why uncomfortable subject matter shouldn't be07/02/2015 - 6:49am
IvresseI think the problem with the Batmobile is that they made it a core aspect of the game that you have to do continuously. If it was basically a couple of side games that were needed for secret stuff or a couple of times in the main game, it would be fine.07/02/2015 - 5:38am
Infophile@Goth: If you're not willing to entertain the idea you might be wrong, fine. That's your right. But why should anyone else entertain the idea that you might be right? If they go by the same logic, they already know you're wrong, so why listen to you?07/02/2015 - 3:53am
 

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