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Reader Comments (16)

Posted: Sep 3rd 2010 7:17PM NyttyN said

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1. 38 studios IS a small business. This guy is a moron, if he's going to speak out against the loan, at-least speak out about the fact is 75 mil.
2. Why is this even news? All this is, is more political natter trying to take advantage of under/misinformed people.
3. Hilarious tag.
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Posted: Sep 3rd 2010 7:09PM Keen and Graev said

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Was it ever a "loan" like the title says? I thought it was a straight you "you come here we give you money" deal.

Either way, that's politics.
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Posted: Sep 3rd 2010 7:19PM jacomdad said

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A politician lying, say it aint so!
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Posted: Sep 3rd 2010 7:37PM Controlled Chaos said

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They should just move back to where they came from. If they're going to be jerks about the whole thing, they don't deserve the new jobs. Nice to see the time honored tradition of politicians offering things they suddenly pull away is not dead in Rhode Island.
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Posted: Sep 3rd 2010 8:23PM Beau Hindman said

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The question is: will they 450 potential jobs stick around? It doesn't take much investigation to notice the fickle nature of the playerbase, especially in subscription based games.

I wish 'em well, as always, but who thinks that their offering will be the next World of Warcraft -- or even close?

Beau
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Posted: Sep 3rd 2010 8:26PM Controlled Chaos said

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That's the thing though. If the 75 million is given, the company basically puts their entire business on the line as collateral, which I believe was part of the deal in the acceptance of the loan. If they fail, the State basically liquidates the company.

So, those 450 jobs would stay or the company would be toast. The State had a pretty rock solid deal here. Not a lot of negative side on their end, yet they're the ones trying to pull the plug.
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Posted: Sep 3rd 2010 9:04PM (Unverified) said

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Who can say? It's so early in the companies history to tell, but any new business is a gamble. There's no sure thing when it comes to start ups.
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Posted: Sep 3rd 2010 9:02PM (Unverified) said

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It's Rhode Island, isn't everything there small? ZING!
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Posted: Sep 3rd 2010 9:19PM (Unverified) said

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As I understood it it was a loan Guarantee, so the state is out nothing unless the company fails to make good on its loan. I also thought there was a 5 year minimum requirement for them to stay in RI if they accepted it.

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Posted: Sep 3rd 2010 10:37PM Rich said

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Doesn't really matter in the long run. IF this thing ever comes out, it will barely make the money they spent on it.

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Posted: Sep 4th 2010 1:11PM (Unverified) said

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which thing, they have two separate games one a single player rpg and one an mmo, and a third in the pipeline beyond that all using the same engine.
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Posted: Sep 3rd 2010 11:26PM Its Utakata stupid said

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Elected officials...forever sticking their fingers up to test force and direction of political flatulence, oft at the expense of doing something right. /sigh

...this is not to suggest that this loan thingy was right thing to do in. But it does seem silly that if the concerns where "...going to stand by and watch us gamble taxpayer dollars on a bad deal when there are thousands of small businesses in need of more access to capital;" then why bother to offer the deal in the first place?
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Posted: Sep 3rd 2010 11:57PM Kinau said

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Way to go trying to be different and change your opinion just for the sake of it. Frank Capiro, I realize you suck Satan's cock but please, please shut the fuck up and get back to pleasing your master.

"I am not going to stand by *munch, munch, and watch us gamble taxpayer dollars on a bad deal *grrrrrrrrrrrrrrrrrrrrrrrrr, when there are thousands of small businesses in need of more access to capital, *aaaaaah" Caprio said in a press release dated August 31st.
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Posted: Sep 4th 2010 4:47AM ed511df3 said

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You know, I was thinking that this deal was going to open the door to other tech businesses working in Rhode Island. I guess I was mistaken. I'm sorry, but whether 38 Studios thrived or failed was completely immaterial. Other businesses would have setup shop there, after seeing how easy it is to work with the state. But this will just scare people away, costing the state a helluva lot more than 450 jobs in the long term.
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Posted: Sep 4th 2010 12:05PM Tom in VA said

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If I had $75 million to invest, I sure wouldn't invest it in an MMO developer.
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Posted: Sep 4th 2010 8:49PM Bhima said

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I think they would have succeeded which will just make this politician look even more douchey than he already does. 450 jobs is a medium to large business, but those jobs pay way more than minimum wage. Hawkish politicians need to be de-feathered.
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