Tagged: EDC

Lawyers for the defunct 38 Studios video game company were back in court Wednesday, asking a judge to dismiss a lawsuit brought against them by the Rhode Island Economic Development Corporation. The suit alleges that executives of the defunct Curt Schilling enterprise deliberately misled state officials about the financial viability of the company to gain a $75 million state-backed loan.

Gov. Lincoln Chafee’s choice to lead the state Economic Development Corporation faces approval by a state Senate committee Tuesday. The vote comes amid debate over whether to reorganize the EDC.

Chafee’s choice, Marcel Valois led the EDC back in the 1990’s during Lincoln Almond’s tenure as governor. Valois is the vice president of an economic foundation. He was previously chief operating officer of the Penske Automotive Group.

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 it looks at business news and themes that affect local business and the public.

Gov. Lincoln Chafee says he’s having some trouble getting people to serve on the board of the Rhode Island Economic Development Corporation. Seven of the 13 board seats are empty and the agency has no director.  

Chafee says people he’s approached are reluctant to serve because of the high-profile nature of the troubled agency.