EAST PROVIDENCE, R.I. (WPRI) — This week on Newsmakers: R.I. Department of Revenue Director Rosemary Booth Gallogly.
With 38 Studios
filing for Chapter 7 bankruptcy protection, Gallogly says it's unlikely taxpayers will be able to avoid having to make good on some of the state's $75 million loan guarantee to the firm. Gallogly said the tab could top $90 million with interest. Gallogly also said she was “not in favor” of the deal when then-Gov. Don Carcieri first floated the idea in 2010, and she expressed her concerns to Carcieri as a member of his cabinet. Gallogly also gives updates on financially distressed communities including Central Falls, East Providence, Providence and Woonsocket.
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