October 17, 2012
Gordon Fox is Disappointed in the Discussion About 38 Studios
Rhode Island Speaker of the House Gordon Fox (D-Providence) has sent a letter to his constituents, available from the Providence Journal, that includes this amusing concept...
It is disappointing that there are people who want to use the 38 Studios issue as a political weapon as opposed to learning from our mistakes and focusing on how to move our state's economy forward. Partisan politics doesn't create jobs.Let's keep this at a very high-level for starters: If bad spending decisions by politicians aren't a legitimate issue during a political campaign, then what issues are?
So this is a "learning opportunity," not a political one. Okay. What did the General Assembly, Gordon Fox, Teresa Paiva-Weed, the EDC, Don Carcieri, Keith Stokes, David Cicilline, progressive bloggers John Speck and Brian Hull, and all the other advocates of these public-private loans and tax credits learn from the 38 Studios bankruptcy? What was the take-away lesson?
"Um... so like... don't loan to Curt Schilling and stuff..."
Here is the key lesson that is being missed over and over again: CENTRAL ECONOMIC PLANNING DOESN'T WORK.
Posted by: Dan at October 17, 2012 8:08 PM"It is disappointing that there are people who want to use the 38 Studios issue as a political weapon"
What???
"If bad spending decisions by politicians aren't a legitimate issue during a political campaign, then what issues are?"
Let's answer that, because it is an important point.
It certainly IS a legitimate issue, during a political campaign and at all times. ESPECIALLY when it involves the most powerful person, politically, in the state - the person who possessed the lion's share of the ability to either red light or green light such an arrangement.
Posted by: Monique at October 17, 2012 9:06 PMIt may be noteworthy that the out of state assets of Studio 38 were auctioned off today. They brought $180,000. The in state ssets will be auctioned next Tuesday. So, if you need a big screen TV, get thee hence.
I suppose when you are doing business in the the "Knowledge Economy" you can't expect the assets to be worth anything.
Posted by: Warrington Faust at October 19, 2012 12:01 AMI've been amused reading about how supposedly valuable the Kingdoms of Amalur intellectual property is. Things are worth what people are willing to pay for them. Can anyone here tell me a single popular character or setting or event or feature from that game? Me either. The mediocre game they produced is already forgotten and nobody in the gaming community cares if there is a sequel. If I were a serious investor, I wouldn't know what buying that intellectual property would even *mean* for future projects.
Posted by: Dan at October 19, 2012 7:10 AMDan,
I have attended a number of auctions which include "intellectual property". I have noticed that there is little interest among the bidders if there is a son, or daughter, "employed" in the business. Apparently, either they are not bound by the sale, or the cost of enforcing any rights against them is not economic.
Granted, these are not "mega dollar" auctions.
Posted by: Warrington Faust at October 19, 2012 10:53 AM