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Curt Schilling's 38 Studios Struggling Financially
medv4380 writes "38 Studios, run by Curt Schilling, is having a hard time paying its bills and employees. The gaming community hasn't been happy with the company since the issue with an Online Pass for Single Player Content, which we discussed previously. Now, 38 Studios has bounced a check intended as a payment on its $75 million loan from the state of Rhode Island. If the company defaults, Rhode Island taxpayers will have to cover the loan and interest, which could total nearly $100 million."
Paying companies to relocation is a win for owners a loss for working stiffs. In the best scenario, tax payers in the new community get the benefit of more jobs at the expense of subsidizing millionaires. The old community losts the jobs the new community gains.
In this case, not only did the new community not gain jobs in the long term, but they are now responsible for $100M in loans. Brilliant job.
I like free markets. I have government in bed with big business.
See my journal for slashdot ID's by year. Mine created in 2005. http://slashdot.org/journal/289875/slashdot-ids-by-year
You need to get out of your basement once in a while.
Isn't this really the sort of knowledge gained by spending more time in the basement?
Schilling's Bloody Sock is one of the most famous incidents in American sports in the 21st century, and occurred during the most-remembered playoff series in baseball of the last few decades. Lots of people who aren't basement dwellers know all about it.
A basement dweller hears Schilling's name and remembers that only 4.9% of the runs that Schilling allowed over his career were unearned, which is the lowest percentage for any pitcher with a long career. We, er, *they* know that this means that ERA undervalues Schilling, because preventing unearned runs is a skill -- you do it by striking out batters, not walking anyone, and getting batters to hit fly balls rather than ground balls.
Basement dwellers, and a lot of other people, also know that Schilling has been a very outspoken conservative proponent of small government for many years. He'd say that a free-spending government corrupts the market, corrupts individuals, and leads to lots of waste. I guess he just went out and proved himself right!
Now if you'll excuse me, Mom says that lunch is ready. Hope it isn't PB&J again!