Just read that 38 Studios filed bankruptcy and is under federal investigation. They owe $150 million to creditors and have $22 million in assets.

Why would someonewho had already made millions playing a game want to put all that up in the air to make a few video games.  And how does one rack up 150 bucks in debit doing so.  I thought video games were thought up in mothers basements, not on the governments tit.

Your making the assumption that Schilling invested much more than his name to this project. It sounds like most of the funding came from the Rhode Island government. My guess is that Schilling has little personal investment, and the company's pending bankruptcy will have little impact, if any, on Schilling's personal wealth. Unless he offered personal guarantees to any of the creditors, Schilling's assets would be protected.

forsberg_us wrote:

Your making the assumption that Schilling invested much more than his name to this project. It sounds like most of the funding came from the Rhode Island government. My guess is that Schilling has little personal investment, and the company's pending bankruptcy will have little impact, if any, on Schilling's personal wealth. Unless he offered personal guarantees to any of the creditors, Schilling's assets would be protected.

I remember reading somewhere that Schilling claims he put a decent chunk of change from his own personal fortune into the business. There was no dollar figure, and I think your contention that the Rhode Island taxpayers are going to be on the hook for most of this and Schilling isn't going to end up having to flip burgers after all this is over is accurate.

forsberg_us wrote:

APIAD wrote:

In that case it makes you wonder why a government would invest into a project that the founder wouldnt even invest into.

I'm not saying I know for a fact Schilling didn't invest--I don't know one way or the other.  But it isn't uncommon for a state government to get hornswoggled by the promise of jobs, increased tax revenues and repayment of a debt.  That's pretty much the same promise that sports teams make when they try to get the government to build them new stadiums/arenas.

It would suprise me if many governments invest in video games.  It is just so stupid I cant believe it would even happen.

http://bostonglobe.com/business/2012/06/13/schilling-sued-for-bank/ECoxCOGDG6y6bIlupctBKO/story.html

The bank is suing Schilling personally, not his company.
I'll let you know if I see Schilling holding a "Will flaunt my humungous ego for food" sign on the side of the highway.