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Default Insider (almost) view on last days of Studio 38

June 14th, 2012, 18:17
"Late Tuesday night an email blast went to several media outlets from '38 Spouse,' offering up an inside look into the collapsed 38 Studios "through the eyes of a spouse of one of the employees.""
http://www.joystiq.com/2012/06/14/38…use/#continued

Looks to me that, whoever was at fault for S 38's debacle, company's treatment of their employees was reprehensible!
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June 14th, 2012, 18:23
I read the wife's story yesterday and have to say I fell sorry for her family. Something will come out the investigations hopefully. I hope the employees sue.

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June 14th, 2012, 19:12
Suing a bankrupt entity isn't going to yield much. A moral victory, perhaps, but it's hard to eat moral victories.

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June 14th, 2012, 19:58
Originally Posted by dteowner View Post
Suing a bankrupt entity isn't going to yield much. A moral victory, perhaps, but it's hard to eat moral victories.
Sure but Mr Schilling and his top executives have money. I'm tired of Top Execs and owners walking away free of charges.

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June 14th, 2012, 20:06
I certainly sympathize with their situation; however, companies go bankrupt, downsize or close divisions all the time.

The breach of ethics seems to lie in the fact that senior management tried to keep the company going long after they should have given everyone notice and shut down operations. Offering to pay relocation expenses and then sticking employees with the bill is also pretty despicable.
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June 14th, 2012, 20:12
Originally Posted by Couchpotato View Post
Sure but Mr Schilling and his top executives have money. I'm tired of Top Execs and owners walking away free of charges.
I would be surprised if Schilling and company didn't have some sort of protection against that. Most likely in the form of something they made employees sign when they were hired.
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June 14th, 2012, 23:02
I read that yesterday and it succeeded in depressing me further. Clearly management's actions were unethical, dare I say immoral? The thing is, laws are set up to protect individuals in corporations, and they encourage this kind of behavior. All remember the managers' names and hold them personally responsible.

Jennifer Maclean - CEO
Bill Thomas - Chief Operating Officer
Rick Wester - Chief Financial Officer

They shouldn't have a get out of jail for free card, just by hiding behind a corporate "entity". Corporations are people. In this case I agree with Mitty, but I doubt he'd agree on accountability.
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June 14th, 2012, 23:21
If it makes y'all feel better, generally bankruptcy courts take care of the "little guy" as much as possible, so the employees might get something out of the corpse, but it will be a year or two from now at best. They won't get everything they're owed, but they'll get a better percentage than the bond holders. It's not legally stipulated, but it generally goes that way. On something like this, I expect there's a lot of unsecured debt since the government money that was dumped in probably came with no attachments, which means a smaller cut gets taken off the top by the secured creditors.

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