38 Studios, Sandy cap a rocky year in RI - ABC6 - Providence, RI and New Bedford, MA News, Weather

38 Studios, Sandy cap a rocky year in RI

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By News Staff

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PROVIDENCE, R.I. (AP) - It was a stormy year for Rhode Island: The economically battered state confronted bad investment decisions, Superstorm Sandy and a list of economic and political challenges.

The collapse of former Red Sox pitcher Curt Schilling's video game company potentially put the state on the hook for more than $100 million, thanks to a loan guarantee for 38 Studios approved by economic development officials.

Superstorm Sandy wreaked havoc on the state's southern shore, but the Ocean State got off easy compared with New York and New Jersey.

The state's economy continued to lag behind the nation, and cities and towns struggled to avoid insolvency. On the political stage, five state lawmakers faced criminal charges, but U.S. Rep. David Cicilline emerged from a bruising campaign to win a second term.

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