Update:
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http://www2.turnto10.com/business/2012/may/14/state-38-studios-discussions-ar-1036440/
A couple of people in Rhode Island government met with Schilling to discuss some things. According to the Governor, ""We're working with 38 Studios on different issues. That's all I can report right now". Rhode Island gave 38 Studios a 75 million guaranteed loan so the studio would move from Massachusetts to Rhode Island.
http://www.joystiq.com/2012/05/15/if-38-studios-collapses-rhode-island-taxpayers-owe-112-6-milli/
Owe over $100 mil? Really hope it doesn't come to that
Just read this as well:
After failing to make a $1.125 million payment to the RIEDC, GoLocalProv has learned that Schilling’s 38 Studios defaulted on May 1. In order to get through an apparent cash-flow shortfall, the company is seeking bridge financing. They have not asked for the state to provide funding, though, according to House Speaker Gordon Fox. The company has, however, looked into using state tax credits to support its finances.
http://www.golocalprov.com/news/new-38-studios-defaulted-on-1.125-million/
I bought the game day 1, but ended up disappointed in certain actions the studio took. From seeming like they didn't care about the tax payers supporting them to the silence about PS3 trophies and the promised patch.
38 Studios failed to pay RI over $1M
http://www.wpri.com/dpp/news/local_...to-keep-schilling-company-38-studios-viable?9
Rhode Island's Economic Development Corporation will take no immediate action to aid the developer, following a closed-door meeting attended by Governor Lincoln Chafee and Schilling, who asked for additional help to save the company. Schilling refused to answer press inquiries and officials wouldn't declare how much money the studio is seeking.
http://www.joystiq.com/2012/05/16/38-studios-schilling-ask-rhode-island-for-more-money-state-off/
Oh wow
If 38 Studios does shutter, beyond Rhode Island taxpayers having to pay off the $75 million bond (plus interest) through 2020, it appears the state will also own the intellectual property of the developer as a parting gift. Reviewing updated documentation released by the Rhode Island Economic Development Corporation (RIEDC) today, it appears 38 Studios put up all present and future IP by the company as collateral.
...
Methenitis continued, "So, the RIEDC could then sell the rights in all of the Kingdoms of Amalur to another developer to offset the millions owed by 38 Studios, and this sale would typically be an auction-style sale to the highest bidder. As a secondary issue, if the sale of all those assets repossessed ends up being more than is owed, the RIEDC will theoretically owe those funds back to 38 Studios."
http://www.joystiq.com/2012/05/16/r...intellectual-property/?a_dgi=aolshare_twitter
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http://www2.turnto10.com/business/2012/may/14/state-38-studios-discussions-ar-1036440/
A couple of people in Rhode Island government met with Schilling to discuss some things. According to the Governor, ""We're working with 38 Studios on different issues. That's all I can report right now". Rhode Island gave 38 Studios a 75 million guaranteed loan so the studio would move from Massachusetts to Rhode Island.