And this is a big layoff for that state, with 288 employees laid off in-state and another 91 laid off out-of-state (primarily in Maryland). Over the past 10 years, Rhode Island has averaged 63 “mass layoff” events per year, at an average of 134 employees laid off per event. So 38 Studios demise is roughly twice that.

One really puzzling aspect of this for me is how dramatically the company missed. This is the not the case of needed a few more months of runway. 38 Studios was a cash-burning machine — with some back-of-the-envelope stats and assumptions — it appears that the company’s salary and benefit costs alone were close to $3.4 million per month. Given that they had at least another year of development to go, if not more, then you can see the funding challenge. The notion that a few more million in tax credits was the solution is not rational.

There still seems to be a disconnect here — it’s obvious from the financials and timeline that additional funding was needed, but Curt Schilling was reportedly unwilling to part with a substantial equity stake. Something had to give in this scenario, and it finally did.

Lastly, it’s increasingly clear that we should be skeptical, hugely skeptical, when public funds come in and try to change the laws of financing. Absent the state of Rhode Island, an appropriate follow-on investor (after Schilling’s initial investment), was a equity investor who would be willing to take a large risk for the chance at substantial reward in the future. The fact that none has surfaced over the past six months suggests either an unwillingness to part with equity or the perception of the potential for the reward in the end was not widely shared.

Instead, Rhode Island stepped in with a loan and demanded a modest return for a dramatic risk. And of course, Schilling took the loan — it preserved his ownership stake at incredibly low cost.

There’s a functioning market with rules for different types of financing for different types of assets. States trying to change those rules do so at the peril of their taxpayers.

Crossposted at Pioneer Institute’s blog.

Yes, most of the servers at Marylou’s are young and female. And, yes, the South Shore purveyor of Joe in hot pink cups puts these smiling teens and twentysomethings in its TV spots — they bop around the beach, hula-hoop, or lip sync to the shop’s theme song (“the best coffee in town …”).

But does this merit an Equal Employment Opportunity Commission probe into the 29-store java chain’s hiring practices?

According to the Herald, the agency has been looking into Marylou’s hiring practices for nearly a year, reviewing job applications and talking to bosses and employees. Founder Marylou Sandry called the investigation a “witch hunt” and said that the company has never been sued for any kind of discrimination in a letter to state Sen. John F. Keenan.

The last time I stopped at Marylou’s for a toasted almond iced coffee, my clerk was a pretty teenager. But that didn’t surprise me, seeing how it was June on the Cape — I’d expect a high schooler behind the counter, working for spending money over summer vacation.

Fans of the popular chain are suggesting that the government has bigger fish to fry. State Sen. Robert L. Hedlund, for one, is perplexed by the EEOC inquiry:

“Why, because they haven’t hired old overweight men who want to wear a pink T-shirt and serve coffee?” Hedlund told the Herald. “The federal government has better things to do with my tax dollars than to harass a legitimate business.”

Did a specific incident spur the probe? We’ll have to wait for more information to percolate.

Quite right, too. What a despicable act.

But here’s my question: Why do we so often hear about sex on the subway? It shows up in porn, in novels, in films, on YouTube. A quick Google search for “couple sex subway” reveals a host of incidents across the country. But here’s the thing: The line I use most — the orange line — is quite possibly the last place I’d want to have sex. Ever. It’s rarely clean, often smelly, the seats are uncomfortable, and I’m usually trying to avoid being watched, especially by people who look like they’re thinking about having sex.

But what’s icky for me might be perfect for someone else, I suppose.

As always, consent should be primary sexual concern. So let’s be vigilant, folks. If I ever witness a sexual assault on the T, I intend to be very vocal about it. There’s even an app for it — since the MBTA is all about saying something if you see something.

Curt Schilling Lays Off All 38 Studios Employees. The news went out to employees via email on Thursday afternoon: “The Company is experiencing an economic downturn. To avoid further losses and possibility of retrenchment, the Company has decided that a companywide lay off is absolutely necessary.”  [WPRI]

MassArt Student Project: Toys for Elephants. Elephants at the Buttonwood Park Zoo in New Bedford now have some new swag to make their cramped living conditions more enjoyable. MassArt students created numerous toys — including an “octo-log” and “icy munch-munch” — for Ruth and Emily, the zoo’s two Asian elephants.  [WBUR]

Mitt Romney’s Thursday in West Philadelphia. Yesterday, Romney got a not-so-warm welcome during his trip in West Philly, which included a stop at the Universal Bluford Charter School. As he spoke about his record on education in Massachusetts, Kenny Gamble, the school’s founder, said: “Governor, you’ve got to go back and remember how the whole concept of education has failed. You go back a few years, even in Boston, when they were trying to integrate schools and they had young black children going to white neighborhoods and they were throwing eggs at the little black children, spitting on them, calling them all kinds of names.”  [Slate]

So Are the People or the Cows Drunk? Just another wild and crazy night drinkin’ beers in Boxford.  [AP]

40 Years Later, Woman Finds Lost Bike. Identified by the banana seat, Lisa Brown says that she plans to turn it into an “art form.”  [Fox]

Just a few short months after Whole Foods announced they’d no longer accept fish caught in a particular way from local fisherman, it seems the city has found an outlet for all the leftover seafood. Yesterday, the mayor’s office announced a pilot partnership with a few organizations of day-boat fishermen (as in, they only go out for the day, so the fish is fresh). Here’s what Mayor Menino said in a press release:

“For the first time since the original Faneuil Hall Market Place closed its doors in the mid-1900s, Boston residents, workers, and visitors will be able to purchase fresh, healthy day-boat fish in a vibrant urban market setting. This is truly an exciting program that expands access to healthy foods and represents a culinary option that is unique to Boston.”

That’s sort of curious, since it implies the fish being sold at Haymarket on the weekends is something less than fresh. But never mind that; no plan is perfect. It also means there will be no information or Whole Foods-like controls over how (sustainably or unsustainably) the fish is caught, but whatever.

This pilot program helps fisherman while providing good, fresh fish to all of Boston’s neighborhoods. And I do mean all. Part of the initiative (posted here) includes fresh-fish days for farmers markets from Mattapan to Central Square. This whole thing has already started, and my guess is it will be popular. There’s nothing better than grilling up a fresh-caught fish on the barbecue. The fish fry might just become a new Boston institution.