Friday, September 14, 2012
During his first interview about the video-game company since it closed, the former EG resident and two-term governor takes responsibility for the original deal but says the state should have done more to save the company.
Former Gov. Donald Carcieri stopped short of apologizing for helping orchestrate the deal that gave 38 Studios a $75 million guaranteed loan to move to Rhode Island, but he did take some responsibility Thursday in his first interview on the subject. "I will take responsibility for approving the deal," Carcieri said in an interview Thursday with WPRI's Tim White. The video game company owned by legendary ex-ballplayer Curt Schilling closed in May, leaving the state on the hook for $102 million in bond payments. Until now, Carcieri had remained silent on the 38 Studios deal that passed the General Assembly in 2010 on the promise of hundreds of jobs. Carcieri did tell White he wondered if the company would have remained viable if the state …
Sunday, June 3, 2012
Maybe it's time to look beyond resumes and good sound bites.
We select our leaders in interesting ways. On the political level it’s based on party, votes, money, media input and the current hot issues. On the business level leaders are selected based on resumes, interviews, a few phone calls, reputation and being the “right fit.” It’s been said that doing the same things over and over again and expecting a different result equals insanity (or at the very least significant dysfunction). Why then do we continue to expect we’ll get quality leaders when we put the same ingredients into the mix? I was once asked to be a part of a selection team/focus group to help pick a local school superintendent. It has always been my contention that most job seekers could produce nice resumes, interviewed well and …
Thursday, May 24, 2012
Helena Foulkes is the second state official to resign in the last week amidst the 38 Studios controversy.
Economic Development Corporation Vice Chairwoman Helena Foulkes has resigned, reports the Providence Journal, the second state official to resign amidst the controversy surrounding 38 Studios, which reportedly has laid off its staff. "I have discussed with the Governor his plans for the Board at the EDC, and I think it is best at this time I resign. I wish him good luck in this very difficult challenge," Foulkes said. Gov. Lincoln Chafee appointed Foulkes to the EDC last year. Foulkes' resignation comes a week after EDC Chairman Keith Stokes stepped down last Thursday in the wake of the controversy surrounding Curt Shilling's video game company. The company, headed by the former Red Sox pitcher, defaulted on a $1.125-million payment to …
Friday, May 18, 2012
The Republican was the only state legislator to vote against the deal to give Curt Schilling's now-faltering video game company a $75 million guaranteed loan in 2010.
East Greenwich state representative Bob Watson, who's had nothing but bad press in recent months, suddenly looks like the smartest guy in the room, having cast the only "no" vote in 2010 on the deal to give Curt Schillings' 38 Studios video game company at $75 million guaranteed loan. The company missed a $1 million loan payment earlier this month. The issue has claimed one political victim so far — Economic Development Commission head Keith Stokes resigned on Wednesday. Watson, a guest on NPRI's Political Roundtable Friday morning, recalled saying the deal was "too loose, too fast, and a scandal waiting to happen." He continued, "Back on April 13, 2010, I warned our house colleagues that thier vote that day could set in motion things …
Thursday, May 17, 2012
Keith Stokes was head of the state Economic Development Corporation when it approved a $75 million guaranteed loan to the video game start up now in financial trouble.
Keith Stokes has stepped down as the head of the Rhode Island Economic Development Corporation amid the controversy surrounding Curt Schilling’s videogame company 38 Studios, according to the Providence Journal. The company, headed by the former Red Sox pitcher, defaulted on a $1.125-million payment to the state on May 1. On Wednesday, Schilling and members of 38 Studios met with state and EDC officials in an emergency meeting that was closed to the public. In 2010, EDC approved a $75-million guaranteed loan to the videogame company following 38 Studios’ promise to bring 450 jobs to the state by the end of 2012 and moved its business from Massachusetts to Providence. Stokes, a longtime board member of the EDC, was appointed by former Gov…
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10:23 am on Saturday, September 15, 2012
No, I'm sure it was done in good faith but I think Curt was mostly at fault for the companies demise. Lessons learned............. more ›