How Curt Schilling Dinged Rhode Island
Matthew Yglesias, Slate, June 13, 2012
Synopsis: Rhode Island lawmakers awarded retired Red Sox pitching star Curt Shilling a $75-million loan guarantee to move his fledgling computer-game company to Providence. Less than two years late the company is broke, and Rhode Islanders are on the hook for the cash.
Takeaway: "It looks an awful lot like a toxic interaction between stupidity, desperation, and Red Sox fandom. In 2010, Rhode Island created a $50 million Job Creation Guarantee Program to offer state-backed loans to entrepreneurs...[E]xpanding it to benefit just one firm was crazy."
For more on state schemes to lure jobs and business, see our March 2 report, “Attracting Jobs"
--Marcia Clemmitt, Staff Writer
Peter Lattman and Ahzam Ahmed, The New York Times, June 15, 2012