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38 Studios Missed Payment; Asking for Cash

BostonHerald.com has word that The Rhode Island Economic Development Corp. is deferring until Monday any decision on how best to deal with apparently cash-strapped developer 38 Studios, who are already carrying $75 million in debt to the state. Having met with 38 Studios about the matter, they will now look to use this extra time to consult with industry experts, with Gov. Lincoln Chafee saying, "we’re making a good decision by not making a decision," adding: "There’s not a great pool of advisers in this industry, but we’ll find them." The report says the governor confirmed that the company missed a $1.125 million payment to the state scheduled for May 1st, and is now asking for more money. 38 Studios founder Schilling refused to answer questions about this for reporters after his meeting, saying: "My priority right now is to get back to my company. My priority right now is to get back to my teammates." Thanks Nomaar.

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4. Re: 38 Studios Missed Payment; Asking for Cash May 16, 2012, 23:10 Cutter
 
It's a major problem when you attach big names to a project who are barely involved. And it's obvious they didn't have a clear vision of what they wanted, only that it had to have WoW-like mass market appeal and be designed foremost with the Xbox in mind. It's pretty obvious on a lot of levels why it failed. The MMO is bound to fail hard too. RI should have never given them a dime to begin with but will be complete fools if they give them any more money at all. They should be looking at seizing all assets and chattels to auction off and recoup what they can.
 
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