Curt Schilling put up $5 million in gold as loan collateral

Former Red Sox pitcher Curt Schilling put up more than 3,000 gold coins worth about $5 million at current prices as collateral for a loan the day after his now troubled video gaming company released its first game in February.

38 Studios’ Downfall: The Gamasutra Report

Apparently, it’s all Chafee’s fault.

Employees who are now out of a job, out of healthcare, and who have every reason to resent their management for the poor preparation, support Schilling’s allegations. They say Chafee centered his re-election platform on criticizing the previous governor for financial decisions, a tactic to which the 38 Studios deal had been central.

I guess we’re supposed to be impressed that 38 Studios employees were dumb enough to believe their boss’s bullshit. Whatever. Curt thinks we think he got a handout because we don’t understand what a loan guarantee is. The fact is we do understand loan guarantees and that’s how we know Curt got a handout.

“They couldn’t make the numbers work for us.”

Gov. Deval Patrick said Thursday that Massachusetts declined to offer help to former Boston Red Sox pitcher Curt Schilling’s videogame company before it bolted for Rhode Island because his administration decided it was not a good investment.

Chafee taps 3 for economic development agency

Gov. Lincoln Chafee has nominated three people for the state’s Economic Development Corp. board to replace members who recently resigned following questions about state support of former Boston Red Sox pitcher Curt Schilling’s troubled video game company.