UPDATE: Senior Executives Flee 38 Studios

[The Rogue Wolf]

It's sad, especially considering this was a company founded specifically out of a love of games, but it's also a definite example of "their reach exceeded their grasp". They didn't build a solid foundation before reaching for the stars, and they fell over.

 

[The Artificially Prolonged]

Trying to make an MMO following Reckoning was a bold and stupid move. They should have made at least one more Amalur title to build the brand and make some real capital. Refine the game play mechanics and make the "Classes" that can be made more distinct. Basing what they would make off of what they had already done could have made a lower cost high quality new game in the franchise.

MMOs are time and money pits that cost millions in development and hardware before even the potential to make a dime.

Agree I do not get way people keep getting investors for MMO's trying to supplant WOW. If Stars Wars couldn't do it, what chance did amular have with none of the brand recognition? WOW won't get beaten it will just fade away naturally, it would be better to wait to invest in new MMO when that starts to happen.

 

[xxcloud417xx]

And yet we still have a $59.99 price tag on Kingdoms of Amalur Reckoning. Steam sales have saved companies before, read up on Amnesia The Dark Descent dev Frictional Studios and how Amnesia almost didn't happen (article was here on the Escapist actually).

I really have no pity for them being greedy even during a crisis. What a mismanaged mess 38 studios is.

FYI, its the publisher that sets the prices not the developer, and considering the publisher is EA, who has made it clear it is not bailing 38 out in any way, yeah things look bad...

Asking EA for some kind of human reaction to misery and suffering will get you nothing, so yeah they're fucked.

 

[antipunt]

wtf just happened in the last #x hours? >_>

 

[Suave Charlie]

I only bought KoA today.. I was too late! Nooooo.jpg

 

[4173]

Standard for a career CEO. Not so much when the head guys usually started out as teenagers in the mail room and worked their way up, but these days CEOs hop from job to job with more abandon (thanks to their golden parachutes) than a temp worker in a high-churn business.

Aye, I know. He slipped off quietly leaving behind all his staff.

As sad as it is ... You are right. It is standard. I sometimes wonder how much economic difficulty we would have if instead of this the CEOs got shot on the spot if they hurt their own employees and company.

You know, in stead of collecting the bonus and sailing off into sunset on their bonus yacht. In this case the victims are employees and whole population of Rhode Island. Epic.

I'll tell you exactly what you'll get. Even fewer honest CEOs. People aren't going to line up for jobs where the result of any mistake, including honest ones, is a death sentence. It's only worth the risk if you're going to gut the company and flee the country.

 

[piinyouri]

My condolences go out to all those who are now without employment.

I know that feel, it's not a good feeling, and people who worked on Amalur frankly deserve better.

 

[Lex Darko]

And yet we still have a $59.99 price tag on Kingdoms of Amalur Reckoning. Steam sales have saved companies before, read up on Amnesia The Dark Descent dev Frictional Studios and how Amnesia almost didn't happen (article was here on the Escapist actually).

I really have no pity for them being greedy even during a crisis. What a mismanaged mess 38 studios is.

FYI, its the publisher that sets the prices not the developer, and considering the publisher is EA, who has made it clear it is not bailing 38 out in any way, yeah things look bad...

Asking EA for some kind of human reaction to misery and suffering will get you nothing, so yeah they're fucked.

Even if EA wanted to take over 38 studios the legal mess they'd have to deal with would easily put the cost well beyond what the studio and KoA ip are worth.

But if they were really smart. What they would do is find a way get control of Big Huge Games' engine hire the people who acutally made KoA and then let that team make the original game they were going to make before being bought by 38 studios.

 

[xxcloud417xx]

And yet we still have a $59.99 price tag on Kingdoms of Amalur Reckoning. Steam sales have saved companies before, read up on Amnesia The Dark Descent dev Frictional Studios and how Amnesia almost didn't happen (article was here on the Escapist actually).

I really have no pity for them being greedy even during a crisis. What a mismanaged mess 38 studios is.

FYI, its the publisher that sets the prices not the developer, and considering the publisher is EA, who has made it clear it is not bailing 38 out in any way, yeah things look bad...

Asking EA for some kind of human reaction to misery and suffering will get you nothing, so yeah they're fucked.

Even if EA wanted to take over 38 studios the legal mess they'd have to deal with would easily put the cost well beyond what the studio and KoA ip are worth.

But if they were really smart. What they would do is find a way get control of Big Huge Games' engine hire the people who acutally made KoA and then let that team make the original game they were going to make before being bought by 38 studios.

You're absolutely right, I wouldn't touch 38 Studios with a 10 foot pole either, but helping the staff is more what I had in mind. It's not their fault the studio was poorly managed, let the CEOs suffer here for not being careful, but the staff (who is very talented I might add) does deserve some kind of help. Hell, EA would probably benefit from having them onboard. (Give some of them to Bioware I'd say!)

 

[The Great JT]

...a source has told Joystiq that employees at the studio actually haven't been paid since May 1, and that their health insurance is set to run out today (May 24).

Wait, what was that rumbling?

 

[QUINTIX]

>Says will not use bailout money
>Gets loan guarantee
>Much of the bank bailout was made of "loan guarantees" and/or goverment loans

I hail from the Dave Ramsey school of fiscal conservatism, so I have a very strong opinion about debt; but my biggest concern is that this will have a chilling effect on other non-budget-busting pro-business governors and local legislators; namely such statesmen will not support gaming in the same manner they support film and other visual arts.