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One former staff member vented his frustrations on Facebook, writing, “I’d like to honestly know why I was hired in the first place on January 16th, 2012…when members of the company knew they were behind on bills and not doing well economically? I moved my pregnant wife, sold my house for a loss of 18k, relocated away from all my family and friends for a company I thought was honest and forthright to their employees. What did I get in return? An unpaid [$10,500] relocation package months after it should have been paid, a pregnant wife who found out our insurance had lapsed from our doctor, a ton of bounced checks and payments to bills when we found out our paychecks had not been paid through the media and a large debt to my unemployed father to help us survive.”
schilling's unbridled enthusiasm
there was one moment when i was let go - the president left me with this:
"you have to decide what you want to be - the person who works a 9 hour day and then goes home and watches the kids' baseball game. or the person who comes in earlier than eveyone else, stays around in the office even if there's nothing to do, and waits until after the boss leaves to go home."
why are these jackasses allowed to do this to people again?
By mid-March, a year and a half after moving to Rhode Island, 38 Studios had received $50 million from the state and had burned through nearly all of it. Because of the way the deal was structured, that would be all they ever got. So Schilling put up $5 million worth of gold coins as collateral for another loan, this one from Bank Rhode Island.
At the news conference, Chafee also revealed two pieces of information that to that point had been confidential: the anticipated release date of Copernicus — June 2013 — and that 38 Studios was spending about $4 million a month. Schilling was outraged, believing that the info would help 38 Studios’ competitors plan against the game. Schilling insists that Chafee, who opposed the 38 Studios loan guarantee when he ran for governor, was pursuing a vendetta against him. “There was a concerted effort to make this not succeed,” Schilling tells me.
#2 - my guess would be schilling overvalued the company and / or didn't want to give up voting rights / board seats.
good article, but it seems like lots of the problems come down to "spend too much money on a startup".
If Lenny Dykstra had been into MMOs and wanted his own, it would probably have played out just like this.
Schilling put up $5 million worth of gold coins
If the game is 90% complete, would it make sense for a bankruptcy trustee or whomever to allow them to continue to operate until the game is finished and can at least be sold for something?
Presumably a product that close to completion has value to someone else in the business.
It says in the article that Schilling was worried because the game wasn't fun, and that nobody on the dev team played it except when they were being paid to do so. How much is something worth if it fails at its primary function?
Why can't they sell it for something when it's 90% complete? Presumably a product that close to completion has value to someone else in the business. Obviously they can't take it to market at 90% complete, but there's no reason another game company couldn't take it to completion.
The only financing he received was from his socialist buddies
Hi, Mitt. Isn't it tiresome when jerks blame you for every bad business decision made by anybody ever?
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