1:00 AM Heads are rolling over the financial troubles of the former Red Sox pitcher's video game company. <\/p>\n
The Associated Press<\/p>\n
PROVIDENCE, R.I. - Rhode Island's economic development agency was in disarray Friday as the state reeled from the financial troubles at former Red Sox pitcher Curt Schilling's video game company and questions mounted over whether the state exercised proper oversight of a $75 million loan guarantee. <\/p>\n
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Former Boston Red Sox pitcher Curt Schilling leaves a meeting with the R.I. economic development agency thats in hot water over backing a $75 million loan to his company in 2010. <\/p>\n
The Associated Press <\/p>\n
Gov. Lincoln Chafee said he was seeking the resignation of Economic Development Corp. board members who approved the state's backing of the loan in 2010, but the fate of some of them wasn't clear. <\/p>\n
Chafee already accepted the resignation of EDC Executive Director Keith Stokes, a vigorous backer of the guarantee, and board Vice Chairwoman Helena Foulkes, who wasn't on the board in 2010 but with whom he said he has had \"differences of opinion.\" <\/p>\n
Chafee spokeswoman Christine Hunsinger said Friday that she couldn't say for sure who was serving on the board. EDC spokeswoman Judy Chong said the same. <\/p>\n
Schilling's 38 Studios laid off its entire staff Thursday after missing its last payroll and being more than two weeks late on a $1.1 million payment to the EDC. The company was lured to Rhode Island from Massachusetts in 2010 after the EDC board agreed to the loan guarantee, which officials said would bring hundreds of jobs and millions of dollars in tax revenue. <\/p>\n<\/p>\n
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R.I. board that OK'd Schilling loan in turmoil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" 1:00 AM Heads are rolling over the financial troubles of the former Red Sox pitcher's video game company. The Associated Press PROVIDENCE, R.I. - Rhode Island's economic development agency was in disarray Friday as the state reeled from the financial troubles at former Red Sox pitcher Curt Schilling's video game company and questions mounted over whether the state exercised proper oversight of a $75 million loan guarantee. Continue reading