The Republican leader in the Rhode Island House of Representatives is urging lawmakers to reject calls to pay back bonds for failed video game company 38 Studios. Other state officials say a failure to pay back the bonds will hurt the state.
House Minority Leader Brian Newberry says the 6 Republicans in the House will unanimously oppose any effort to repay the 38 Studios bonds. He said legislative Democrats are rushing to judgment on the issue without having done their homework.
Associated Press reporter David Klepper joins the Roundtable this week as discuss the budget passed this week by the House Finance Committee; debate over repaying bonds for 38 Studios; and some of the big unresolved issues facing the General Assembly.
Although investors in 38 Studios were promised prior to the closing of a $75 million state loan guaranty in 2010 that IBM would offer independent third-party monitoring of the company and its performance, IBM didn't sign a contract to provide that monitoring and independent oversight was never put in place, according to testimony presented last week to a legislative committee.
House Minority Leader Brian Newberry (R-North Smithfield) joins the Roundtable this week to discuss his expectations on the budget; whether the state should pay back moral obligation bonds related to 38 Studios; what the General Assembly will accomplish this year to boost the economy; and more.
Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for a weekly business segment we're calling "The Bottom Line." Each Friday they look at business news and themes that affect local business and the public.
Governor Lincoln Chafee said he remains strongly opposed to the idea of defaulting on moral obligation bonds related to the failure of video game maker 38 Studios. On Thursday, an investment expert analyzed the pros and cons of default for the House Finance Committee.
Robert A. Walsh Jr., executive director of the National Education Association Rhode Island, joins the Roundtable this week to discuss state Education Commissioner Deborah Gist; conflicting views on economic development; the debate over defaulting on bonds for 38 Studios; and Council 94's hiring of a prominent critic of state Treasurer Gina Raimondo.