Solyndra

Curt Schilling is a hero to Boston sports fans. In 2004, at the relatively advanced age of 38, he valiantly pitched and won two critical post-season games while suffering from an ankle injury so severe that his sock was soaked with blood, propelling the Red Sox to its first World Series championship in 86 years. But Schilling’s career outside of baseball, especially since his retirement in 2008, has been less than stellar.

In 2006 Schilling founded a company, Green Monster Games – subsequently renamed 38 Studios – to develop and market MMORPGs – Massively Multiplayer Online Role Playing Games – for which he has a longstanding passion. Earlier this week, barely three months after release of its first product, 38 Studios laid off all of its 400-odd employees and closed its doors for good. How and why this happened is a cautionary tale for those who think it a proper function of government to provide financing to private companies. [click to continue…]

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If you think that the main problem small businesses face is raising capital you probably aren’t a small business owner. If you think that the reason businesses don’t hire more people is that they don’t have enough money, you almost certainly aren’t a small business owner. That’s probably why the JOBS Act passed with overwhelming majorities in both the House and Senate: there aren’t too many small business owners in either chamber. The Republicans like the bill because it supposedly helps small businesses, the Democrats because it promises to create more jobs. [click to continue…]

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