Baseball for the Thinking Fan

Login | Register | Feedback

btf_logo
You are here > Home > Baseball Newsstand > Baseball Primer Newsblog > Discussion
Baseball Primer Newsblog
— The Best News Links from the Baseball Newsstand

Saturday, April 20, 2013

NY Times: Thrown for a Curve in Rhode Island

It may be hard to understand how all of this happened without understanding the ancient, one-sided rivalry that exists between Rhode Island, a state of just 1,000 square miles, and Massachusetts, which squeezes Rhode Island on two sides like a vise. Massachusetts is the land of the Red Sox and the Kennedys; Rhode Island makes do with the Red Sox’ Class AAA affiliate in Pawtucket and has a history of rampant political corruption.

Going back to the 1980s, Massachusetts developed a high-tech corridor near Cambridge that enabled it to transcend its manufacturing roots. Rhode Island remained stubbornly wedded to its textile makers and jewelry factories, most of them now long gone or crumbling.

So when Curt Schilling came courting in the weeks after his encounter with Mr. Carcieri, it wasn’t just the promise of jobs that caught the attention of the state’s political establishment. Here was one of Boston’s greatest living legends, a proven winner who had sunk something like $50 million of his own fortune into his company, and he was looking to build it not in Kendall Square of Cambridge, but near the old Jewelry District of Providence. If ever there was a way to show up the Bay Staters next door, this had to be it. [...]

If there’s a lesson in all this, it probably has to do with the limits of what any government can — or should — do to bring about growth. Just about every state offers some kind of tax incentive or loan program for businesses looking to relocate. But Rhode Island went further than that; in its zeal to land Mr. Schilling, the state took on the role of venture capitalist, without having the expertise to do it well.

An actual venture capital firm would have been investing in many companies at once, to minimize its exposure, and it would have demanded a sizable equity stake. It would have taken a seat on the board so it could monitor the money closely and, if needed, restructure the company. Rhode Island, instead, threw most of its venture money into a single, highly speculative start-up, insisted that it more than double the size of its work force, and then walked away.

bobm Posted: April 20, 2013 at 10:40 PM | 1 comment(s) Login to Bookmark
  Tags: 38 studios, curt schilling

Reader Comments and Retorts

Go to end of page

Statements posted here are those of our readers and do not represent the BaseballThinkFactory. Names are provided by the poster and are not verified. We ask that posters follow our submission policy. Please report any inappropriate comments.

   1. The Yankee Clapper Posted: April 21, 2013 at 03:59 PM (#4421370)
RTFA. Considerably more detailed than most accounts. Lots of blame for Schilling & R.I. politicians who so blithely ponied up the taxpayers' money.

You must be Registered and Logged In to post comments.

 

 

<< Back to main

BBTF Partner

Support BBTF

donate

Thanks to
tshipman
for his generous support.

Bookmarks

You must be logged in to view your Bookmarks.

Hot Topics

NewsblogCuban outfielder Rusney Castillo to sign with the Red Sox for $72 million
(42 - 1:51pm, Aug 22)
Last: Crispix reaches boiling point with lackluster play

NewsblogOT: Politics, August 2014: DNC criticizes Christie’s economic record with baseball video
(4919 - 1:51pm, Aug 22)
Last: You Know Nothing JT Snow (YR)

NewsblogPhillies have decisions to make heading into '15
(21 - 1:50pm, Aug 22)
Last: steagles

Newsblog10 episodes of ‘The Simpsons’ every sports fan needs to watch
(54 - 1:49pm, Aug 22)
Last: bread and rice

NewsblogPrimer Dugout (and link of the day) 8-22-2014
(19 - 1:49pm, Aug 22)
Last: Batman

NewsblogBA (Badler): Seven Reasons Why MLB’s New International Rules Are Backward
(1 - 1:48pm, Aug 22)
Last: Cabbage

NewsblogA Look Inside Baseball's Ever-Evolving Stimulant Culture | Bleacher Report
(25 - 1:45pm, Aug 22)
Last: Perry

NewsblogPosnanski: The Royals might actually know what they are doing
(84 - 1:44pm, Aug 22)
Last: McCoy

NewsblogOT: The Soccer Thread August, 2014
(503 - 1:41pm, Aug 22)
Last: andrewberg

NewsblogBoswell, WaPo: For streaking Washington Nationals, runs like this don’t come around very often
(8 - 1:38pm, Aug 22)
Last: Danny

NewsblogDRays Bay: Rays to Montreal? “Smart chronicler” says yes
(5 - 1:38pm, Aug 22)
Last: DEF: #attentionwhore

NewsblogOMNICHATTER 8-22-2014
(9 - 1:26pm, Aug 22)
Last: Dillon Gee Escape Plan

NewsblogMegdal: Humble shortstop Marty Marion should be in Hall contention
(63 - 1:14pm, Aug 22)
Last: HowardMegdal

NewsblogDowney: Let Pete Rose in the Hall of Fame already
(48 - 1:12pm, Aug 22)
Last: Jolly Old St. Nick Is A Jolly Old St. Crip

NewsblogVotto appears. . .and speaks | The Real McCoy | Cincinnati Reds baseball news
(1 - 1:09pm, Aug 22)
Last: RMc's desperate, often sordid world

Page rendered in 0.1862 seconds
52 querie(s) executed