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I'm not sure how Schilling expected the state to do anything else. That's kind of the price you pay accepting _state funds_. As an RI taxpayer, I'm happy with t
by ubercore 14y ago
I'm not sure how Schilling expected the state to do anything else. That's kind of the price you pay accepting _state funds_. As an RI taxpayer, I'm happy with the way Chafee has handled this so far.
- gee_totes 14y agoIs there any movement in RI to do something with all of 38 Studios' IP? After all, once the studio defaults, the citizens of Rhode Island will own it.
- tibbon 14y agoThat's a good question. I'm unsure if they citizens/state will really own it, or if the state will be forced to sell it at firesale to help cover their losses. Also, with the loan being through a semi-private intermediary (I think) I'm unsure who the direct owner would be afterward.
- ubercore 14y agoI believe the loan is only guaranteed by the state, but the terms say that the state will own all IP given a default. I'm willing to bet we'd be legally obligated to sell it to help cover the bonds. I know very little about finance, though, so take this with a grain of salt.