time killer

The Rise and Fall of 38 Studios and the 75 Million Dollar Mystery (Part 4)

Posted under News by Justin Oung on Saturday, September 29th, 2012 -

In an hour-long interview with the Dennis and Callahan show on WEEI in Boston, Massachusetts, Schilling is as vulnerable as he is apologetic to those employees left in the ashes, revealing semantics on the closure of his dream company and the financial mistakes he made in dealing with the state of Rhode Island.  He is candid about his ideals and drawbacks from his investments as the listener feels a sense of empathy for him in his words.

He realizes the animosity and blame that he has to endure as an entrepreneur who tried to take a business into Rhode Island while lamenting his personal responsibilities for the downfall of 38 Studios.

According to Schilling, 38 Studios saw very little profit, if any, in handing over its IP to Electronic Arts for Kingdoms of Amalur.  He tells us that the state sent auditors a total of four times, with four separate companies, to investigate any fraud in 38 Studios’ handling of financial assets, for which nothing was found.  He mentions that Governor Lincoln Chafee had been dead set against this project from the beginning, and that, by the end of the collapse of 38 Studios, Chafee said nothing when Schilling mentioned an investor who was willing to help save the company, I suppose, just before filing for bankruptcy.

Curt Schilling is an incredible man with an incredible dream who was able to create something great from one idea alone, and not a lot of people can say that they have the proper connections to make these types of investments happen.  While there were huge sacrifices to be made in order to fulfill these dreams, Rhode Island’s economy continues to be devastated in the aftermath of Hurricane Irene.  After all that has been said about the state of Rhode Island and its handling of its own financial securities, it would be equally irresponsible to condemn one person for failing to achieve what was promised to the residents of that state.

Schilling stepped in to take advantage of tax credits that were offered by the state of Rhode Island to both help his company grow while remedying an already failing economy.  With the promise of big money came bigger responsibilities, and Schilling was not able to take those responsibilities into a direction that would be more profitable to 38 Studios.  Anyone can fault him for that, but no one can fault him for trying to “leave the world in a better shape than when we got here”.  His words, not mine.


| Part One | Part Two | Part Three | Part Four |

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