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38 Studios Misses Payroll; Bounces Check

Joystiq and WPRI.com have updates on the situation at 38 Studios, where recent reports of financial distress were followed by news that the developer had missed a $1.125 million loan payment. Several wrinkles have emerged since then, beginning with word that the studio missed payroll in an effort to make that missed payment, and that all temps and contractors were let go this week. This is followed by word that a check for the $1.125 million had been delivered, but that was returned for insufficient funds. The final twist is word that while company founder Curt Schilling is still mentioned on the company's visionaries page, his photograph and bio have apparently been removed, as has information about CEO Jennifer MacLean, who Joystiq says was last heard to be on maternity leave.

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36. Re: 38 Studios Misses Payroll; Bounces Check May 20, 2012, 05:54 Fantaz
 
MrBone wrote on May 18, 2012, 19:55:
Everyone on this forum is way out of line...slow it down...easy does it...alright now...take a deep breath...there you go...No CEO takes a maternity leave, especially not a business woman. They are notorious for having bigger nuts than any man and twice the chip on the shoulder. She got wind of what was happening care of accounting and skipped town. Deal with it.

I don't know how you think that any pregnant lady would have the capacity to still be working at an organization in her condition?
 
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35. Re: 38 Studios Misses Payroll; Bounces Check May 19, 2012, 11:13 Beamer
 
Creston wrote on May 18, 2012, 16:46:
Beamer wrote on May 18, 2012, 14:54:
Whoever approved this in RI likely lost his or her career.

Ahaha... hahaaa....AHAHAHAHAHAHAAHAHAHHHHAAAAAAA

Come on now? Someone in GOVERNMENT losing their career over making a fucked up decision (not a criminal one)? When was the last time that ever fucking happened?

More likely the one who made this decision gets PROMOTED.

Creston


Fair point, haha.
Ug.
 
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34. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 19:55 MrBone
 
Everyone on this forum is way out of line...slow it down...easy does it...alright now...take a deep breath...there you go...No CEO takes a maternity leave, especially not a business woman. They are notorious for having bigger nuts than any man and twice the chip on the shoulder. She got wind of what was happening care of accounting and skipped town. Deal with it.  
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33. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 16:46 Creston
 
Beamer wrote on May 18, 2012, 14:54:
Whoever approved this in RI likely lost his or her career.

Ahaha... hahaaa....AHAHAHAHAHAHAAHAHAHHHHAAAAAAA

Come on now? Someone in GOVERNMENT losing their career over making a fucked up decision (not a criminal one)? When was the last time that ever fucking happened?

More likely the one who made this decision gets PROMOTED.

Creston
 
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32. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 14:54 Beamer
 
WaltC wrote on May 18, 2012, 10:22:
I had to edit this for Beamer's benefit, because he doesn't seem to understand that it isn't Schilling's $75M on the line--the state of RI is who will be picking up the tab. *That's* what makes it a scam. Yessir, the good ol' RI tax payers will foot the bill for this one--*not* Schilling. So, forget about claiming Schilling "lost" anything because he didn't, and he knew he wouldn't going in. Give me one--just one--other similar example of a state government guaranteeing loans for a game developer. That's so rotten you can smell it all the way into Denmark.

1) Please go back and reread my post. "- RI says "hey, Curt, use our money, not yours!" Schilling is dumb not to do this" So clearly I'm aware it isn't his money.

2) Having the government give you money to do something then having it not be enough money and failing for it doesn't make it a scam. And now, oddly, you're pegging the scam on the government's level. So did Schilling scam the government, did the government scam the people? Do you not understand what the word "scam" means? Who made money in this scam? Schilling certainly didn't. In fact, he lost his company and you're dense if you think he didn't put millions into it before moving to RI (and likely after.) Whoever approved this in RI likely lost his or her career.
Who scammed anyone here?
 
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http://www.painkillerrecords.com
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31. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 12:56 Jim
 
NKD wrote on May 17, 2012, 22:45:
Agent.X7 wrote on May 17, 2012, 22:24:
Creston wrote on May 17, 2012, 22:00:
Your company is going down the shitter, and you're on maternity leave.

The 21st century CEO, ladies and gentlemen! Stand in awe!

Creston

Yeah, hold the baby in, you bitch. What's wrong with you?

Seriously, Creston. What do you think she can do, just decide when she has the baby?

Yeah, I had the same reaction. What the fuck kind of response is that to anything?

No, it's more like "hey, the first loan payment is due in 9 months. Let's fuck."

Call me crude, but as a RI taxpayer, I'm unwillingly paying for this mess and have been rightfully pissed off about the whole thing.

 
Jim
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30. Re: Wait, what now May 18, 2012, 12:52 Jim
 
Durkzilla wrote on May 17, 2012, 22:32:
At least they actually produced something for sale. That's way better than most scam artists...

Not really, the company they acquired produced the game.
 
Jim
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29. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 12:51 Jim
 
Latest news, 38 Studios fails to make payroll. So yeah, they bounced the loan check AND don't have enough in the kitty to pay their employees. Time for an independent audit. What the fuck did they do with the $75M?  
Jim
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28. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 10:22 WaltC
 
Bhruic wrote on May 17, 2012, 23:37:
Where is everyone getting this "scam" thing from? They planned to produce an MMO and came to the realization they wouldn't be able to produce one with the resources at hand, so they switched over to making a single player game. They hoped sales of that game (as well as establishing the IP) would bring them enough money to finish off the MMO version. That plan failed when they had insufficient sales of the single player game.


Apparently, the only "plan" they had was to *buy* another studio--which was deep into KoA development at the time. And so their only tangible result with--was it 701 employees, claimed?--comes from *another company*--the actual developers of KoA!

With all its employees and all of that investment money, why couldn't 38 studios create its own, original game? Heck, Gabe Newell claimed the multi-year development cost for Valve's HL2 was $40M. 38 Studios had more money than that--a lot more than that. That's why people think it's a scam, and I have to agree with them.

I had to edit this for Beamer's benefit, because he doesn't seem to understand that it isn't Schilling's $75M on the line--the state of RI is who will be picking up the tab. *That's* what makes it a scam. Yessir, the good ol' RI tax payers will foot the bill for this one--*not* Schilling. So, forget about claiming Schilling "lost" anything because he didn't, and he knew he wouldn't going in. Give me one--just one--other similar example of a state government guaranteeing loans for a game developer. That's so rotten you can smell it all the way into Denmark.


This comment was edited on May 18, 2012, 10:35.
 
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It is well known that I do not make mistakes--so if you should happen across a mistake in anything I have written, be assured that I did not write it!
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27. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 09:30 Burrito of Peace
 
And not a single fuck was given.  
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26. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 09:06 Beamer
 
Jesus, people. Some of you are just way the hell out there.


1) How do we know she's actually on maternity leave? We have a rumor. How do we know she hasn't been in the office every day this week?

2) Scam? Seriously? What the hell. Who? Schilling has way more than $75 million dollars, this wouldn't make him rich. And, if they were going to scam anyone, why would they have hired a giant, huge staff? Why would they have paid RA Salvatore for his stupid world? Why would they buy Big Huge Games? Some of you are absolutely insane. It isn't hard to figure out what happened:

- Schilling loves MMORPGs, wants to use his money to make the best one ever
- RI says "hey, Curt, use our money, not yours!" Schilling is dumb not to do this
- They buy Big Huge Games with the money, assuming the investment will pay off
- They bank on Kingdoms of Whatever, thinking they can put most of the capital into that game and will see a return with which to keep funding the company
- They see no return
- Things start falling apart because money they expected to have is no longer there



Christ, some of you think every failed business is a scam. Some of you think every bad decision is to screw you over. It's odd that you hate corporations but, at the same time, think they're some kind of omnipotent source of knowledge, ability and evil. They're just big and dumb. That's all that they are.
 
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http://www.hydrahead.com
http://www.painkillerrecords.com
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25. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 08:39 NKD
 
Creston wrote on May 18, 2012, 01:06:
Agent.X7 wrote on May 17, 2012, 22:24:
Creston wrote on May 17, 2012, 22:00:
Your company is going down the shitter, and you're on maternity leave.

The 21st century CEO, ladies and gentlemen! Stand in awe!

Creston

Yeah, hold the baby in, you bitch. What's wrong with you?

Seriously, Creston. What do you think she can do, just decide when she has the baby?

Well, for starters, she could appoint someone to take care of the place in her absence.

Creston

And you think she hasn't? She's been in the business a long time, I'm sure she knows how to handle going on leave. And let's be frank, 38 Studios was on course for this disaster long before she left for maternity leave. Whether she's mismanaging the company in her office or mismanaging the company from home, it's not going to make a fucking bit of difference.
 
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If you don't like where gaming is heading, stop giving your money to the people who are taking it in that direction.
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24. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 08:29 Wolfen
 
Rattlehead wrote on May 17, 2012, 23:18:
I hate all of you.

Was that you I fought at the Breasturary in Nipopolis?
 
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23. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 06:17 ibm
 
D_K_night wrote on May 18, 2012, 04:36:
what's with all these companies that no one's ever heard of, going down spectacularly in flames the past few weeks?

38 studios...never heard of them...what games did they even make?

Kingdoms of Amalur: Reckoning, very good reviews, not enough sales apparently.
 
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22. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 04:36 D_K_night
 
what's with all these companies that no one's ever heard of, going down spectacularly in flames the past few weeks?

38 studios...never heard of them...what games did they even make?
 
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21. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 03:23 Jerykk
 
Ouch. They probably should have tried to make their debut game stand out or something. Going with generic fantasy (and a generic art style to match) isn't the best way to get attention. Hell, when I first saw screenshots of KoA, I thought it was just another MMO. That's just about the worst first impression you can get.  
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20. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 02:07 OldTimber
 
MrBone wrote on May 17, 2012, 21:34:
Visionaries...haha.
Well he played baseball and in the spare time between starts played EQ when it was new, so right there is enough cred to be considered a visionary.

 
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19. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 02:04 Linksil
 
I'm sorry, but if your a CEO of a multi million dollar company and you can't figure out how to not have it go down in flames while your popping out a spawn. You don't deserve shit and need to find a new line of work.

And YES she DOES decide when she has a baby. That is not an excuse, esp now after all the equal rights movements.
 
Munching On: Archeage, SAO Vita, Tales of Xallia 1/2.
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18. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 01:06 Creston
 
Agent.X7 wrote on May 17, 2012, 22:24:
Creston wrote on May 17, 2012, 22:00:
Your company is going down the shitter, and you're on maternity leave.

The 21st century CEO, ladies and gentlemen! Stand in awe!

Creston

Yeah, hold the baby in, you bitch. What's wrong with you?

Seriously, Creston. What do you think she can do, just decide when she has the baby?

Well, for starters, she could appoint someone to take care of the place in her absence.

Creston
 
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17. Re: 38 Studios Misses Payroll; Bounces Check May 18, 2012, 01:05 Creston
 
Asmo wrote on May 18, 2012, 00:41:
Creston wrote on May 17, 2012, 22:00:
Your company is going down the shitter, and you're on maternity leave.

The 21st century CEO, ladies and gentlemen! Stand in awe!

Creston

Equal opportunity mate, both male and female CEO's should be able to whistle while Rome proverbially burns... ; )

Oh, absolutely. It's a shining example of how far society has come!

Creston
 
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