2 leaving RI panel that guaranteed Schilling loan

2 more members leaving RI economic development panel that guaranteed doomed Schilling loan

Associated Press

PROVIDENCE, R.I. (AP) -- Two more members of the Rhode Island economic development board that guaranteed a doomed taxpayer-funded loan to Curt Schilling's failed videogame company are planning to resign.

Business executives Jack Templin and Cheryl Watkins Snead have told Gov. Lincoln Chafee that they plan to leave the board of directors of the Rhode Island Economic Development Corp. within the next two months to focus on their companies.

The resignations will leave the 13-member board with only five active members. The agency also is without a permanent executive director.

The board of directors has faced many questions about the $75 million loan guarantee it gave to the former Red Sox pitcher's company, 38 Studios. The company filed for bankruptcy last June, leaving the state on the hook for as much as $100 million.

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