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
Adam S
for his generous support.

Bookmarks

You must be logged in to view your Bookmarks.

Hot Topics

NewsblogOTP 2016 Sep 19 - Race for the White House: The Greatest Circus on Earth
(1475 - 1:23pm, Sep 25)
Last: snapper (history's 42nd greatest monster)

NewsblogSunday Notes: Dickerson, Anti-Velo Bias, Melancon in DC, more | FanGraphs Baseball
(3 - 1:18pm, Sep 25)
Last: cardsfanboy

NewsblogMariners catcher Steve Clevenger tweets protesters should be treated 'like animals'
(250 - 1:15pm, Sep 25)
Last: Howie Menckel

NewsblogJose Fernandez Dies In Boating Accident - MLB Trade Rumors
(89 - 1:13pm, Sep 25)
Last: BDC

NewsblogThe fraudulent myth of Big Papi
(72 - 12:17pm, Sep 25)
Last: ERROR---Jolly Old St. Nick

NewsblogFire Joe Morgan and the Moneyball revolution.
(1 - 11:44am, Sep 25)
Last: cardsfanboy

NewsblogYankees’ half-measure failure forces grand plan into focus | New York Post
(5 - 11:40am, Sep 25)
Last: ERROR---Jolly Old St. Nick

NewsblogWHAT A PLAY! UTLEY GETS 'PRETTY LUCKY' WITH NO-LOOK THROW
(21 - 11:15am, Sep 25)
Last: Edmundo got dem ol' Kozma blues again mama

NewsblogOMNICHATTER 9-25-16
(6 - 10:30am, Sep 25)
Last: JJ1986

NewsblogCarlos Beltran might struggle to make the Hall of Fame
(120 - 9:02am, Sep 25)
Last: The Duke

NewsblogOT - September 2016 College Football thread
(356 - 1:55am, Sep 25)
Last: AuntBea

Sox TherapyThe Red Sox Are Not Doomed (But This Garbage Has To Stop)
(36 - 11:41pm, Sep 24)
Last: Nasty Nate

NewsblogBall Four, You're Out: How A Classic Baseball Book Became A Failed Baseball Sitcom
(16 - 11:23pm, Sep 24)
Last: PreservedFish

NewsblogOMNICHATTER 9/24/16
(50 - 11:23pm, Sep 24)
Last: Infinite Yost (Voxter)

Sox TherapyMaking Ups of Downs
(30 - 9:28pm, Sep 24)
Last: Jose Remains The Most Absurd Thing on the Site

Page rendered in 0.2740 seconds
47 querie(s) executed