Lincoln Chafee - Independent Candidate for Rhode Island Governor

38 Studios

The company that didn't get the deal

August 31, 2010

WRNI
By Scott McKay

PROVIDENCE, R.I. (WRNI) - The Rhode Island Economic Development Corporation expects to close on the deal to give a $75-million loan guarantee to a video game company headed by former Red Sox pitcher Curt Schilling. WRNI's Scott MacKay takes a look at a company that didn't get any financing by the EDC. Click here for the audio, following is the transcript:

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Chafee denied access to speak at EDC meeting about 38 Studios loan guarantee

August 24, 2010

PBN.com
By, William Hamilton

PROVIDENCE - Gubernatorial candidate Lincoln Chafee made a last-ditch effort Monday to talk to the R.I. Economic Development Corporation board of directors, waiting outside the EDC offices for Gov. Donald L. Carcieri to arrive at the board's monthly meeting.

It was for naught.

After a quick handshake, Carcieri waved off Chafee's face-to-face request to talk to the EDC board members about the $75 million loan guarantee they had approved last month to woo 38 Studios LLC, the Massachusetts video game company owned by former Red Sox pitcher Curt Schilling, to Rhode Island. Carcieri told Chafee that the answer was the same as the one the governor had given him in an exchange of letters last week: No.

Chafee didn't bother going into the public meeting, but campaign representative Stephen P. Erickson, a retired district court judge, hand delivered a letter to EDC attorney Robert Stolzman, raising legal questions about the meeting agenda's reference to executive session. Erickson first had attempted to give the letter to Carcieri as he walked into the EDC offices, but the governor refused to take it.

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Chafee denied bid to protest RI offer to Schilling

August 23, 2010

Turn to 10

PROVIDENCE -- Lincoln Chafee was rebuffed Monday in his effort to address a Rhode Island agency about his opposition to a $75 million loan guarantee approved for Curt Schilling's video game development company.

Chafee, a former U.S. senator who is running for governor as an independent, had hoped to speak at the board meeting of the state Economic Development Corporation, which last month approved the loan guarantee to bring 38 Studios from Massachusetts to Rhode Island.

The company, founded by Schilling, the former All-Star pitcher for the Boston Red Sox, promises to bring 450 jobs to the state by the end of 2012. Proponents, including Gov. Don Carcieri, say the company's relocation could help revitalize Rhode Island's foundering economy, tap into the brainpower of technology-minded local college graduates and give the state an investment in an emerging growth industry.

The candidate's appearance at the meeting, albeit an example of political theater, underscored how the loan guarantee has emerged as a hot-button issue in the governor's race. Chafee and other critics see the deal as too risky, especially since 38 Studios does not have a proven track record, and say it would leave taxpayers on the hook if the company fails.

He appealed to Carcieri, the corporation board's chairman, to speak at the meeting. But Carcieri, a Republican, brushed aside Chafee as soon as he entered the front door, reminding him that he had previously told him in writing that Chafee would not be permitted to speak.

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Chafee Would End 'Special Deals' For Companies

August 19, 2010

GoLocalProv
Stephen Beale, GoLocalProv Politics Editor

Independent candidate for governor Lincoln Chafee yesterday promised to end special deals for companies like the $75 million loan guarantee the state gave to Curt Schilling's video game company, 38 Studios.

"It is inappropriate for a quasi-public organization to put Rhode Island taxpayers on the hook for millions of dollars on very risky deals with unproven companies," Chafee said.

The loan guarantee was approved by the Rhode Island Economic Development Corporation. If elected governor, Chafee would serve as the chairman of the EDC board--and, in that role, he said he would make sure that it did not make risky deals that "gambled" away large sums of taxpayer money.

Chafee has been an outspoken opponent of the deal between the EDC and Curt Schilling's company. Earlier in August, he wrote a letter to EDC Executive Director Keith Stokes urging him to suspend the deal and search for other companies more deserving of the loan.

When that failed, he sent a letter on Tuesday to each of the board members--again making his case for revoking the deal.

"Why the rush to judgment - over a period of just a few months - to determine that 38 Studios is the one company around which to develop a video game industry in Rhode Island?" Chafee wrote.

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Linc Chafee is a tested leader of unquestioned integrity and a strong independent voice. As Governor, he will work hard to create new jobs, rebuild our economy, solve our chronic budget problems, end corruption, and forge a new way forward for Rhode Island.

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