Sony Boss Blames Gov Chafee for 38 Studios Failure
Tuesday, February 11, 2014
Smedley said Schilling approached him numerous times regarding "Kingdoms of Amalur: Project Copernicus," which was to be the first game produced by 38 Studios in Rhode Island. (Kingdoms of Amalur: Reckoning," was created prior to the move to Rhode Island. Praised by the gaming press, it received a Metacritic.com score of 81 out of 100). Smedley unleashed on Chafee and defended Schilling via a series of Tweets on Monday.
Smedley said Schilling approached SOE for funding prior to the now infamous Rhode Island loan. He liked Schilling's idea, as evidenced by a recent series of tweets, but the money was a problem for SOE.
"The quality was undeniable. It was gorgeous. It had smart people working on it. It was just too expensive is all," Smedley said. "The economics were too tough to make work for us. This is a business where risks are large. We had enough balls in the air. More risk was too much for us."
"Dear people of Rhode Island. Look to your elected government for failing to protect you. That 38 studios deal just never should have been. Public funds shouldn't be backing risky things like online games."
He respects Schilling for investing his now money in the company, but said "If that idiot Governor Chafee hadn't trash talked right at the time Curt was trying to get funding you would be playing the game now."
"The idea of suing someone when Chaffe's (sic) own comments were what poisoned the well at the end is beyond the pale. All he had to do was give Curt another week and we wouldn't be here today."
Related Slideshow: Is Clay Pell the Next Lincoln Chafee?
Privileged bloodlines, prestigious prep schools, lofty political ambitions. Is Clay Pell the next Lincoln Chafee?
Below is a look at the similarities -- and differences -- between Governor Lincoln Chafee and likely gubernatorial aspirant Clay Pell.
Family Legacy - Chafee
Lincoln Chafee is the son of John Chafee, the former Governor of Rhode Island, U.S. Senator, and Secretary of the Navy, who was a decorated WWII and Korean War Veteran, and posthumously awarded the Presidential Medal of Freedom.
Named in his honor include the USS Chafee (DDG-90), the John H. Chafee Blackstone River Valley National Heritage Corridor and the John H. Chafee National Wildlife Refuge.
Family Legacy - Pell
Grandfather Claiborne Pell was Rhode Island's longest serving Senator, having served six terms from 1961 to 1997, whose legacy includes the Pell Grant, the National Endowment for the Arts, and the National Endowment for the Humanities.
A decorated coast guard lieutenant in WWII and foreign service officer, Pell's Rhode Island legacy includes the Newport Bridge being renamed the Claiborne Pell Bridge, as well as the Pell Center of International Relations and Public Policy established at Salve Regina University.
Money - Chafee
Both Chafees and Senator Pell had to disclose as members of the U.S. Senate personal financial information -- and both a considerable net worth.
The U.S. Senate is known as the U.S. Millionaires Club -- in 2005, while Chafee was still in the Senate, Open Secrets pegged Chafee's wealth at between $40 and $63 million dollars.
Money - Pell
The website Celebrity Net Worth puts wife Michelle Kwan's personal wealth at $8 million.
While Pell's first campaign finance report has yet to be made public, records show Pell gave Democratic challenger Gina Raimondo $250 during her bid for General Treasurer in 2010.
Education - Pell
Early Career -- Chafee
He was Warwick's mayor in 1992 until 1999, when he was appointed to the U.S. Senate in 1999 when his father passed away while in office.
Wife - Chafee
Wife - Pell
A decorated Olympic figure skater and world champion, Michelle Kwan went on to pursue a career in public service, serving as an American Public Diplomacy Envoy as well as on the President's Council on Physical Fitness and Sports -- and was recently inducted into the U.S. Figure Skating Hall of Fame.
- 38 Studios Insiders Have Been Connected Since May 2009
- BREAKING: Governor Chafee to Return Campaign Contributions from Defendants in 38 Studios Suit
- Don Roach: 38 Studios Was Never a Good Investment
- Few Lawmakers Voted Against Deal that Paved Way for 38 Studios
- Insider Lawyer Paid $232,000 as 38 Studios Went Belly Up
- Momentum Builds For 38 Studios Anti-Bailout Plan
- NEW: Brien Rips Speaker Fox on 38 Studios
- NEW: Lawmakers Refute Speaker Fox’s Claims on 38 Studios
- NEW: Schilling’s 38 Studios Makes $1.125 Million Payment to EDC
- RI State Report: Fung’s Governor Moves + 38 Studios Hearings
- Schilling’s 38 Studios Deal Hatched Earlier than Disclosed
- State Report: Hurricane Aftermath, the 38 Studios Lawsuit & House Oversight
- 38 Studios Bankruptcy Hearing Begins Today: Company Owes $150 Million
- 38 Studios Relocates Ahead of Schedule
- Bonds Sold for 38 Studios Deal
- E-Mails Reveal 38 Studios’ Desperate Attempts to Secure Tax Credits
- Future Remains Uncertain for Schilling’s 38 Studios
- Insiders Had Hands All Over Schilling’s 38 Studios Deal
- NEW: 38 Studios Assets to Be Sold at Two Auctions
- NEW: Chafee Releases Video on 38 Studios Lawsuit
- NEW: Meeting Notes Show Fox, Paiva-Weed Pushing for 38 Studios
- NEW: Schilling’s 38 Studios is Bankrupt
- RICO, Fraud & Negligence Claimed in 38 Studios Lawsuit
- Schilling’s 38 Studios Lays Off Entire Staff—Taxpayers May Be Stiffed
- State Report: Problem Gambling, 38 Studios & Millions for Medicare
- 38 Studios Bankruptcy: Executives Say Tax Credits Could have Saved Company
- 38 Studios Scandal Could Spell Trouble for Incumbents
- Carcieri Accepts Responsibility for Approving Failed 38 Studios Deal
- EDC Buried in Legal Fees over 38 Studios
- GoLocal’s Coverage of 38 Studios is Featured on CBS Radio - Listen
- Insurance Policy Would Pay Back 38 Studios Bonds
- NEW: 38 Studios Auction Brings in $650k
- NEW: Chafee Supports Initial Ruling in 38 Studios Case
- NEW: Preview to 38 Studios $50 Million Game Released
- NEW: Schilling’s 38 Studios to Owe $395,000 Tax Bill in Providence
- Rep O’Neill Criticizes Fox & Superman Plan - Similar to 38 Studios
- Special 920 WHJJ Radio Report: 38 Studios
- State Report: Speaker Fox’s Battle, Tax Amnesty & the 38 Studios Debacle
- 38 Studios Company-wide Layoff
- 38 Studios Secret Documents - See Copies
- Dan Lawlor: The Political 1% Need to be Held Accountable for 38 Studios
- EDC Buried in Legal Fees over 38 Studios
- GoLocalTV: Medieval Weapons and Software Auctioned off from Curt Schilling’s 38 Studios
- Is Curt Schilling’s 38 Studios Going Broke?
- NEW: 38 Studios Bankruptcy Case Moving to RI
- NEW: Curt Schilling’s 38 Studios has Insufficient Funds in Bank Account
- NEW: RIEDC Statement on 38 Studios
- NEW: Speaker Fox Backtracks on 38 Studios Comments
- Rhode Island EDC Paid $40K to Bond Agencies for 38 Studios
- Special Report 38 Studios: GoLocal on WHJJ Podcast
- State Sues Key 38 Studios Players—See the Complaint
- 38 Studios Debacle - A Timeline
- 38 Studios Tried to Keep Public in the Dark, E-Mails Say
- De Ramel Blasts Pacheco on 38 Studios
- EDC Never Discussed 38 Studios After September 2010
- GoLocalTV: Sen. DaPonte Says Senate Did Not Know About 38 Studios
- LISTEN: EDC Paid $40K to Bond Agencies for 38 Studios
- NEW: 38 Studios Defaulted on $1.125 Million
- NEW: EDC takes No Action on 38 Studios
- NEW: RISC Opposes Any Bailout for 38 Studios
- NEW: State’s Wistow Responds to 38 Studios Defendants’ Charges
- Russell Moore: 38 Studios Taints RI House Budget
- State House Report: Death Penalty, Chafee’s Son & 38 Studios
- Wells Fargo Refuses to Discuss ‘Secret’ Cash from Curt Schilling’s 38 Studios
- 38 Studios Debacle: Top Stories in RI in 2012
- 38 Studios: The More We Learn the Worse it Gets
- Defaulting on 38 Studios Bonds May Not Hurt State Finances
- EXCLUSIVE: O’Neill Says Fox Lied About 38 Studios
- Guest MINDSETTER™ Dr. Edward Mazze: 10 Questions for 38 Studios
- LISTEN: Insurance Covers 38 Studios Bonds + Who’s Hot & Who’s Not
- NEW: Binder Rips Fox on 38 Studios; Taveras Endorses Fox
- NEW: Feds No Longer Investigating 38 Studios
- NEW: Rhode Island Gets Back $713K from 38 Studios Video Game Sales
- New RIPEC Report: RI Begins Post-38 Studios Recovery
- Russell Moore: Don’t Pay 38 Studios Bonds
- State Report: 38 Studios Debacle, Unemployment Dips & Pot Dispensaries
- Who Created the 38 Studios Deal?
- 38 Studios Fallout—What Next?
- Arthur C. Schaper: 2013 So Far–38 Studios, Babysitters, and Guns
- Does Carcieri’s 38 Studios Legacy Hurt Fung?
- EXCLUSIVE: U.S. Attorney Investigating Curt Schilling’s 38 Studios
- House Leadership Scrambles for Budget Vote on 38 Studios Provision
- LISTEN: O’Neill Says Fox Lied About 38 Studios
- NEW: Block Says Superman Building Has All the Makings of 38 Studios
- NEW: Full Documents - 38 Studios Defendants’ Responses to Suit
- NEW: Richard J. Land Named 38 Studios Receiver
- PolitiFact Fraud - Projo Changes Its Truth-O-Meter Score on 38 Studios
- Schilling Claimed 38 Studios Would Create Over 1,500 Jobs
- State Report: 38 Studios, Legislative Raises & Casino Gaming
- Who Fought Against the 38 Studios Deal?
- 38 Studios Insider Gets $625k in New Film Tax Credits
- Arthur Schaper: The Politics of 38 Studios: Junk
- Does Carcieri’s 38 Studios Legacy Hurt Fung?
- EXPERTS: State Should Consider Defaulting on 38 Studios Bonds
- INVESTIGATION: Secret Documents Reveal True Risks of 38 Studios
- Lawmakers Feel Duped by Schilling’s 38 Studios Deal
- NEW: Block Urges RI House Democrats To Stop 38 Studios Payment
- NEW: Hinckley Rips 38 Studios Deal
- NEW: Sasse Says ‘Zero Evidence’ 38 Studios Default Would Have Long-Term Harm
- Questions Surround Speaker Fox’s Relationship with 38 Studios Insider