Originally posted by Deron_Barak
What I don't get is if Copernicus is supposed to release in one year why is Studio 38 not getting the rest of the money they are already paying on? They've only received 50M... 25M would more than pay the bills until the release, not lay anyone off and have more than enough left over for advertising.

Either Mr. Chafee knows nothing about business, which would be scary considering he's the governor, or he cares more about grandstanding than the money he's grandstanding for. He has to know that all of his public statements are damaging to the product he claims he's trying to save for the people of RI. It just doesn't make sense.

It's over, no game will be comming next year. R.I. Decided to disolve the company last night and the assets including Copernicus are up for sale :(.

Originally posted by Deron_Barak
What I don't get is if Copernicus is supposed to release in one year why is Studio 38 not getting the rest of the money they are already paying on? They've only received 50M... 25M would more than pay the bills until the release, not lay anyone off and have more than enough left over for advertising.

Either Mr. Chafee knows nothing about business, which would be scary considering he's the governor, or he cares more about grandstanding than the money he's grandstanding for. He has to know that all of his public statements are damaging to the product he claims he's trying to save for the people of RI. It just doesn't make sense.

Quite often these loans are paid out in chunks over time on a pre-arranged schedule. Then the payments are added in also on a schedule. It's sort of a protection thing for the loaner, they can see if there's a problem before handing out all the money, if the borrower can't make a payment along the way. That's what happened here. Only in this case, the state didn't make the loan, they guarranteed it while arranging the loans through private entities. Same difference, since the state is on the hook for the money.

Well , it's GAME OVER, FOX25 news just reported they llaid-off their entire staff...

http://www.boston.com/business/technology/articles/2012/05/25/curt_schillings_38_studios_lays_off_entire_staff/?page=1 

http://www.boston.com/business/technology/articles/2012/05/25/curt_schillings_38_studios_lays_off_entire_staff/?page=2 

hopefully all those people can find work soon.

its official - bankruptcy declared

http://news.providencejournal.com/breaking-news/2012/06/38-studios-decl.html

related news stories

http://news.providencejournal.com/breaking-news/38-studios.html

Glad I went ahead and picked up the 2 content DLCs for Reckoning.

Have 49 of 50 acheivements from my initial playthru, but am sure the DLC added more. Didnt want to be stuck with a case of the DLC being pulled ala Marvel Ultimate Alliance.

Reckoning was a poor mans Oblivion, but I enjoyed it.

It gets even worse for Schilling:

Col. Steven G. O’Donnell, superintendent of the Rhode Island State Police, told the Journal today that his agency, the FBI, the U.S. Attorney’s office and the Rhode Island attorney general “are working together to investigate activities that have recently come to light at 38 Studios.”

Sadly, there was an air of inevitability about it - it's hard to keep paying the bills after you lay off the staff.

What will become of the assets now?  The accumulated work that they have done surely isn't going to be just flushed away, it will be auctioned off at some point?  Who will end up with that IP, how much can be salvaged and what will it be worth to them?