Schilling on Chafee: ‘I Think He had an Agenda and Executed it’
Friday, June 22, 2012
Former Red Sox ace Curt Schilling is again pointing his finger at Governor Chafee for allowing his video game company to collapse.
"I think he had an agenda and executed it,” Schilling said.
Schilling acknowledged that he regrets not informing his employees that the company was struggling, but said all conversations regarding future investments stopped once Chafee began commenting on the company.
Schilling, who claims he poured more than $50 million of his own money into the company, said he realized “something evil” was happening when news broke that his company attempted to pass a bad check to cover the $1.125 million due to the Economic Development Corporation (EDC). He said the EDC was made aware the account had insufficient funds and went to the media.
Schilling suggested Chafee, who was opposed to giving Schilling a $75 million loan guarantee to bring his company to Rhode Island in 2010, had political motives with his comments regarding the company.
“This is an I told you so, absolutely, “ Schilling said.
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Comments:
Todd B
10:04am on Friday, June 22, 2012
"It's the state's fault that my private sector company collapsed. Governor Chafee was too honest with the public about my company's finances and it caused other potential investors to walk away."
C'mon, Curt. Your company was $150M in debt. You had already gotten $75M in public funds committed to your company. Even if Chafee weren't the governor, did you really think anyone was going to give up more? Chafee didn't cause your company to fail. Poor management caused your company to fail.
David Allen
10:09am on Friday, June 22, 2012
Another guy who has not once taken responsibility for his own actions.
John Thomas Nailor
10:30am on Friday, June 22, 2012
Curt, simple answer "YOUR BUSINESS PLAN SUCKED"!
Thom Bassett
10:35am on Friday, June 22, 2012
Right. Because it's in Chafee's interest for the state to lose a few hundred more jobs and for taxpayers to be on the hook for tens of millions of dollars in bad debt. Schilling must think Chafee's political instincts are as bad as his business ones.
Michael Gardiner
1:05pm on Friday, June 22, 2012
Chafee would have gotten more mileage out of a successful salvage. Sadly, this deal made no sense to begin with. At least they could have developed a piece of real estate as a future source to recoup losses. By not managing the catatrophic "right-sizing" I suspect 38S let go its "intellectual property" without non-competes or non disclosure agreements. I would have tried to save 38s but blaming Chafee seems more like an indulgence.
jon paycheck
4:53pm on Friday, June 22, 2012
Don't blame schilling, he put is own money up
In good faith and the state threw money at him.
The people who fault or criticize him have no idea
About how these deals work.
The edc board that approved this deal had no clue
What they were doing and should all resign.
Once the deal was done, you have to understand that
Most of these run out of money and also lose a lot initially
So once you are in, you have to be ready to pony up more
So the current edc board led by Lincoln have no
Clue either
Clue Less
6:12pm on Friday, June 22, 2012
This is a question for Dan McGowan, GoLocalProv News Editor:
In an article you authored on June 4th, 2012, you stated, "A year before Curt Schilling’s 38 Studios received a $75 million loan guarantee from the state, a group of five investors led by a Providence lawyer gave the company a seven-figure loan. On July 17, 2009, Duffy & Sweeney co-founder Michael F. Sweeney formed 38 Bridge Partners LLC to provide Schilling’s company with a “significant” short-term bridge loan...".
http://www.golocalprov.com/news/38-studios-loan/
My question is...
Is Atty. Michael Sweeney ,who specializes in intellectual property and IP transfer issues, and is an investor who also funded 38 Studios purchase of Big Huge Games in 2009, related to Tim Sweeney, founder of Epic Games? who recently, (just 2 weeks before 38's Bankruptcy), hired Curt Schilling's former Big Huge Games employees to open a NEW studio,named "Epic Baltimore", made up of 38 Studios' Big Huge Games team responsible for Kingdoms of Amalur: Reckoning and the development of the “Project Copernicus” MMO??
I think it is a question that deserves an Answer and I'm hoping that because "Attorney Michael Sweeney is also an investor in GoLocal24, LLC, the parent company of GoLocalProv.com." , you may be just the person to get the Answer.
I await your response.
marcia greeley
10:11pm on Friday, June 22, 2012
dirty deeds done dirt cheap