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38 Studios Closed?

38 Studios laid off its entire workforce according to an unconfirmed report on WPRI.com where they have an email purportedly sent to the company's staff, which they say consisted of 379 employees a of March 15. The Verge adds they've been informed by "a source familiar with the company" that 38 Studios also closed both its Rhode Island headquarters and its subsidiary studio Big Huge Games (thanks nin). They also note there is a semi-confirmation of this in a tweet from Colin Campbell, lead world designer at Big Huge Games: "Big Huge Games was home for my wife and me for our adult lives so far. I'll miss it terribly, but so proud. Good night and good luck." The Verge also quotes Governor of Rhode Island Lincoln Chafee attributing the closure to Kingdoms of Amalur: Reckoning, saying the RPG "failed." They note that the game sold approximately 1.2 million copies in 90 days and Chafee says experts told him it needed to sell three million copies to break even. In 2010 Rhode Island loaned 38 Studios $75 million.

Financial troubles at the developer founded by former major league baseball pitcher Curt Schilling surfaced less than two weeks ago, but after some drama involving a bounced loan payment check and allegations of a missed payroll, things seemed to be on the rise, with word that the loan payment cleared and that the company's MMORPG codenamed Project Copernicus was expected in a year. In an interesting side note, Rock, Paper, Shotgun points out the Rhode Island Economic Development Corporation has posted 38 Studios Public Documents with all the details on its financial dealing with the company.

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78. Re: 38 Studios Closed? May 25, 2012, 10:08 Mr. Tact
 
avianflu wrote on May 25, 2012, 09:55:
Mr Tact you may be thinking too highly of those who govern, especially those who govern at the state and town level. For the most part these folks are either dull-headed, or mercenary, or both.
Think highly of them? Ah, no. Actually my opinion is that 99% of all politicians are crooks -- that number is probably an exaggeration but it conveys my feelings on the subject. However, the constant drone from both the left and right -- especially in the last 5-10 years has driven me into apathy.

Specifically in the case of the loan to .38 Studios, in hindsight and on the surface it seems insane. However, what would people's opinions be if the game had done so well the company paid off the loan early? Sure maybe the likelihood of that was small -- I'm just illustrating a point. This decision was not made in a vacuum and I doubt few if any of the people throwing around opinions here know the whole story -- I certainly don't.

This comment was edited on May 25, 2012, 10:13.
 
Truth is brutal. Prepare for pain.
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