There are signs of improvement, however, as WBZ New England Business Editor Anthony Silva learned during this morning’s WBZ Business Breakfast.

Listen To The Report

1. The American Opportunity Credit – This credit can help parents and students pay part of the cost of the first four years of college. Congress modified the Hope Credit, making it available to a broader range of taxpayers. Eligible taxpayers may qualify for the maximum annual credit of $2,500 per student.

The income limits: For singles, it phases out between $80,000 and $90,000 and those filing jointly it’s $160,000 to $180,000. This credit is due to expire at the end of 2013.

2. The Lifetime Learning Credit – This credit can help pay for undergraduate, graduate and professional degree courses – including courses to improve job skills – regardless of the number of years it takes you to get a degree.  Eligible taxpayers may qualify for up to $2,000.

3. Tuition and Fees Deduction – Students and their parents may be able to deduct qualified college tuition and related expenses of up to $4,000. This deduction is an adjustment to income, which means the deduction will reduce the amount of your income subject to tax. The Tuition and Fees Deduction may be beneficial to you if you do not qualify for the American Opportunity or Lifetime Learning credits. You do not have to itemize to get this deduction!

4. Student Loan Interest Deduction – There also is the deduction for the interest you pay on your student loans. Limit is $2,500 for the year. As usual there are income limits as well. The deduction is phased out for incomes between $60,000 and $75,000 and there is no deduction once your income reaches $75,000. If you are married filing jointly it’s $120,000 and gone once you reach $150,000. This deduction can also be used whether you itemize or file the short 1040.
You cannot claim the American Opportunity and Lifetime Learning Credits for the same student in the same year. You also cannot claim any of the credits if you claim a Tuition and Fees deduction for the same student in the same year. To qualify for an education credit, you must pay post-secondary tuition and certain related expenses for yourself, your spouse, or your dependent. The credit may be claimed by the parent or the student, but not by both. Students who are claimed as a dependent cannot claim the credit.

5.  529 College Savings Plans – Although not a credit or a deduction it is worth mentioning that the income generated in a 529 plan is free of federal taxes. And Congress expanded the definition of qualified higher education expenses to include expenses for computers and Internet access.

The deal is a win for NStar customers, because it calls for rates to be frozen through 2015 and customers will also get a rebate through the deal in the form of a one time payment in their bills.

That one time rate credit will probably be around $15 per customer.

It’s a big win for Gov. Patrick who has been pushing for the state to use more clean energy sources.

But the two utilities hadn’t been eager to buy wind power because its typically more expensive than traditional forms of power.

Watch Lisa’s report:

Lisa van der Pool of the Boston Business Journal can be seen weekdays at 6 a.m. on WBZ-TV.

You can follow Lisa on Twitter at @lvanderpool.

Educator Expense Deduction: This deduction is for teacher’s classroom expenses. If you are eligible, you can deduct from gross income up to $250 in qualified expenses. I know it’s not a lot considering what many teachers buy for their class rooms, but it is something so take advantage of it. You can deduct these expenses even if you do not itemize.

Health Insurance Premiums: If you are self-employed, 100% of the premiums are deductible. For other tax payers, if you have paid any health insurance premiums last year they become part of your medical expenses and your medical expenses are deductible after they have reached 7.5% of your income. If you are reporting a loss this year in your small business, you will not be able to take the deduction but you can still use the cost of the premiums as a medical deduction.

Long Term Care Insurance Premiums: Part of the cost of the insurance premium will be treated as a medical expense and will be deductible. The older you are, the bigger the deduction. If you are under age 40 your deduction is $340 and if you are over age 71 the deduction is over $4000 ($4,240).

The Savers Credit: This credit was formerly referred to as the Retirement Savings Contribution Credit. Congress wanted to encourage lower income wage earners to start saving for retirement so they came up with a tax credit when you contribute to your retirement plan. This tax credit could help you offset the cost of the first $2,000 contributed to an IRA, 401(k) and other retirement plans.

For 2011, you may be able to claim the retirement savings contributions credit if your modified adjusted gross income (AGI) is not more than:

• $27,750 if your filing status is single, married filing
• $55,500 if your filing status is married filing jointly
• $41,625 if your filing status is head of household

Cash Contributions: Cash is always appreciated but in order to get a deduction you need to document your contribution. Rules require either a bank record that supports the donation (a cancelled check) or a written statement from the charity that meets tax-law requirements. So those loose dollars you put in the Salvation Army bucket at Christmas or the church collections can’t be counted as a deduction.

Non-cash Contributions: Remember around Christmas when I suggested you take your old stuff to the Salvation Army or Goodwill and get a receipt. Find the receipt. People forget about the non-cash contributions they have made during the year. The receipt reminds you that you did donate all of that stuff to the Goodwill. You can no longer claim deductions for used clothing and “household goods” that are not in “good” condition or better. Check the Salvation Army’s website to get a list of a suggested deduction amounts.

Now if you don’t have a receipt and you get audited, the IRS will disallow your contributions. Also often overlooked are the contributions you made with your credit card. Look for those receipts as well.

But the Cambridge car sharing company’s CEO said that it’s total revenue growth would have been stronger, if it wasn’t for lower than expected growth in the United Kingdom, although they do expect business there to improve.

The reason Zipcar’s share price fell is because it announced it’s expecting to lose between $4 million and $5 million in the first quarter of this year.

Zipcar just announced this week that it has expanded service to 45 more college campuses including UMass-Dartmouth.

Watch Lisa’s report:

Lisa van der Pool of the Boston Business Journal can be seen weekdays at 6 a.m. on WBZ-TV.

You can follow Lisa on Twitter at @lvanderpool.

Thousands of small businesses who now pay very high premiums could see double digit discounts for certain plans.

The co-ops are allowed under a new law that allows small companies to band together and negotiate better rates and benefits.

WBZ NewsRadio 1030′s Anthony Silva reports

The majority, the other 92 million, don’t have the income or the deductions to itemize, and often they won’t take the time to figure out if using their deductions is the better deal.

A study by the government found that $1 billion annually is lost by taxpayers who don’t take the time to itemize. These are people who were entitled to larger refunds based on their deductions, deductions they did not utilize when they filed their returns.

The standard deduction for 2011 for a single taxpayer is $5,800, married couples it’s twice that, $11,600, and head of household it’s $8,500.

If you’re over 65 and single, you can add an extra $1,450 to the standard deduction, or $2,300 if you’re married filing jointly.

You can use either the standard deduction or your deductible expenses whichever is larger. But you need to figure it out.

To do a quick assessment, is your total income under $100,000? Interest income under $1,500? Yes to both, then figure out your potential deductions.

How much did you pay in state income tax? Did you make any charitable contributions? Then add up your mortgage interest payments and real estate taxes, which you will find on form 1098 that you received from the mortgage company. If they did not pay your taxes for you get out your check book ledger.

Do you have a new car? How much did you pay for excise tax? Did you have large medical or dental bills? Do you pay for your own health insurance? Now do a quick calculation, add them all up to see if the items you can deduct are larger than the standard deduction amount.

Using check writing software such as Quicken is a plus when you want to retrieve these numbers. You can easily print out a report with all of your deductible expenses making the decision process so much easier.

If your deductions are larger than the standard deduction then make the effort to use those deductions and file the long 1040. I am a firm believer in paying taxes but only what you really owe. But if you are not going to do your taxes yourself add in the preparer’s fee to be sure you still come out ahead.

There are some deductions that are allowed by the IRS whether you itemize or not. Some IRA contributions, student loan interest, tuition deduction, and educator expenses.  Also, most of the tax credits can be used.

PowerBar and Stonyfield Farm are among about a half dozen companies who’ve signed up to get the healthy button on their websites.

If a website visitor clicks on the healthy button, it broadcasts their approval of a product or a service to their friends on Runkeeper’s site.

RunKeeper had been testing out the button on its own site.

RunKeeper first started off as an iPhone app for runners but is planning to become a global fitness platform.

Watch Lisa’s report:

Lisa van der Pool of the Boston Business Journal can be seen weekdays at 6 a.m. on WBZ-TV.

You can follow Lisa on Twitter at @lvanderpool.

Instead of just throwing them away, Chantilly Place in downtown Lowell is hoping to clear more room by giving away over 70 discounted wedding gowns. Shop owner Colleen Ferry says the designer sample gowns range in size and color.

She says the gowns are for military couples who are planning for their special day. Teajin Sung got one of the free dresses.

WBZ NewsRadio 1030′s Bernice Corpuz reports

Sung says, “The one I found was ivory color, trumpet style with the train on it.”

“I helped her pick it out,” says her fiance James Bartlett, an Air Force veteran. “I think she looks beautiful in it.”

Her dress normally costs a few thousand dollars, but they’re taking it home for free. The couple plans to get married this summer.

MassHousing announced its decision to provide more than $31 million in loans to create the Jackson Square affordable housing development, with more than 100 apartments.

MassHousing Executive Director Tom Gleason says other funding sources are coming through as well.

The project is the first phase of a planned $250 million Jackson Square community with a total of 10 new buildings.

WBZ NewsRadio 1030′s Anthony Silva reports

Those unopened envelopes though are going to need to be opened. If you don’t open them, you won’t know if you are missing any pertinent information. Look for 1099s from your mutual fund companies, banks, clients, and pension distributions and 1098s from your mortgage company.

If any of them are incorrect call immediately to straighten them out. The Payer has until the end of February to send their copies of the 1099 to the IRS so if you catch this early they can just send you a corrected a copy.

Check to be sure your W-2s have arrived and they are correct. Compare them with your last pay stub of 2011. (You did save your last pay stub didn’t you?) If your W-2 has not arrived, call your employer and ask that another be sent out. Be sure they have your correct address.

If you use check-writing software such as Quicken, gathering your tax information will be easy. If you have set it up properly, you can print out your tax reports such as the amount you paid in medical expenses, real estate taxes or contributions. This makes filing the long 1040 much easier and probably more accurate. Make sure you have any receipts you need to back up your deductions. Quicken also works very well with Turbo Tax.

Collect those tax forms that came in the mail or head to the post office or your local library to get copies of the forms you need and the instruction books as well. The instructions actually have an estimated time of completion printed on them so you can figure how long you will need to set aside for each of the forms you need to tackle.

You can download forms from the IRS, but be forewarned, the instruction booklet for the standard 1040 is 100 pages. It is actually smaller than last year by about 40%. And you will need to find all of the different forms and schedules that go with the 1040. To see all of the publications offered by the IRS check out their website.

If you are going to go it alone, request IRS publication 17. There are over 300 pages so you don’t want to be downloading it. Request the IRS send you a copy (800.829.3676). It’s a good read for it has everything you need to know about changes in the tax laws for 2011 that will affect your tax return. It’s easy but tedious reading.

You are going to need to organize this stuff whether you do the taxes yourself or hire someone else to do them for you. Even if you hire someone you should understand your taxes and review the information carefully before you sign that return.

One more thing:  The IRS still has tax refunds from last year. The Internal Revenue Service announced that it is looking to return $153.3 million in undelivered tax refund checks. In all, 99,123 taxpayers are due refund checks from last year that could not be delivered because of mailing address errors. Don’t let that happen. Be sure your address is correct.

The 13-hour Japan Airlines flight will be the longest from Logan Airport. Service will be on the new Boeing 787 aircraft that will be able to carry a total of 186 passengers.

There will be 42 business class seats and 142 in coach.

It will be the first route flown by the Dreamliner on the East Coast.

Boeing is expected to announce this week that it will bring one of the new Dreamliners to Logan on March 4th for an invitation-only preview of the aircraft on that Sunday afternoon.

JAL’s Oneworld partner in the new service is American Airlines in a revenue sharing arrangement. AA will feed traffic into Logan Airport from as far away as Miami.

Bob Weiss, CBS Boston travel contributor

“Without the help of American, we wouldn’t be here,” said Steve Smith, Vice President Global Sales for the Americas for Japan Airlines in an interview in Boston last week.

JAL is also set to announce a marketing interline agreement with JetBlue that will feed passenger traffic into Boston for the Tokyo flight.

A delegation of Massachusetts officials are in Japan this week for a series of meetings to discuss ways of bringing more tourists to Boston.

This trip was arranged by The Massachusetts Office of Travel & Tourism.

Repeated requests for the names of the people making the trip and their itineraries was not released by MOTT.

Massport is hosting several events with JAL leading up to the launch and will begin a print and broadcast advertising campaign in the next few weeks.

At The Boston Globe Travel Show that ended yesterday, the Japan and Massport aviation booths were side-by-side.

The Dreamliner is a completely re-designed aircraft which is about 20-percent more efficient to operate. It has larger windows, a new air circulation system, and overhead bins that are three times larger than other jets currently in use.

JAL will arrive and depart from Terminal E at Logan Airport. Business Class passengers will be able to use their Oneworld partner’s lounge of British Airways in the international terminal.

Statistics indicate that 400,000 people fly from New England to Asia annually. JAL will have connections to major cities throughout that region.

As one Massport marketing person said to me about their current activities, “It’s all Japan Airlines, all the time.”

Bob Weiss reports on business travel on Mondays at 5:55 a.m. on WBZ NewsRadio 1030.

But it’s getting tougher if you’re looking to rent.

The average rent has shot up 9.3 percent in the past year.

The Boston-area’s spike in rental prices was the second highest in the country, behind only San Francisco’s 17.5 percent rise in rents last year, according to survey data from Axiometrics and PPR, a CoStar Co.

Rents are high because home sales continue to slump and the Boston areas’s vacancy rate of 4.3 percent was the second lowest in the country last year behind only new York.

The average rent in the Boston area last year was a little more than $1,900, according to the survey.

Locally developers are scrambling to take advantage of the current apartment rental market.

There are currently thousands of apartment units either being built or in the planning stages in the city of Boston.

Watch Lisa’s report:

Lisa van der Pool of the Boston Business Journal can be seen weekdays at 6 a.m. on WBZ-TV.

You can follow Lisa on Twitter at @lvanderpool.

WBZ’s Rod Fritz talks with WBZ Financial Editor Dave Caruso, from Coastal Capital of Danvers.

Listen to the report

Mayor Tom Menino, Red Sox CEO Larry Lucchino, Sox new manager Bobby Valentine, acting Massport CEO David Mackey and a couple of hundred JetBlue team members joined in the celebration.

The plane left with almost a full load of passengers in the late morning for Fort Myers, the home of the new JetBlue Park where the Red Sox Spring Training facility is located.

Marty St. George, senior vice president of JetBlue, noted that this was the third year of an expanding relationship between the airline and the Red Sox. The carrier is also the official airline of The Boston Marathon.

“It’s a great partnership,” said Mayor Tom Menino. “They do so much for the city.”

Security was very tight for the media and VIP’s who were on the tarmac to see the plane arrive. Mayor Menino’s vehicle had been escorted to Terminal C by the State Police. Apparently people in the mayor’s SUV, complete with tinted glass, were not checked in at the North Gate. When the Mayor’s photographer got out to take some pictures, she was briefly asked to leave because she was not displaying a pass.

Again, Wally The Green Monster was one of the most popular people at the ceremony posing in front of the aircraft for the TV cameras.

Bob Weiss, CBS Boston travel contributor

JetBlue came to Boston in 2004 and in eight years has become the number one airline carrying passengers from Logan. The airport had a record year in 2011 with 28,800,000 passengers using the airport. JetBlue now carries about 25 percent of that business.

Marty St. George termed the airline’s relationship with The Red Sox as one of the most important for the airline and urged the baseball team to bring another championship back to Boston.

JetBlue Park, Fenway South, will be officially dedicated on February 25 in Fort Myers.

Bob Weiss’s All Things Travel Reports can be heard on WBZ NewsRadio 1030.

Answer:  For 99% of us we have been in your shoes at some time, just making it. And probably have not done as well as you for many people start to use their credit card for the extras they truly cannot afford.

Now that the Super Bowl is over there are ads everywhere promoting Valentine’s Day. There are many folks who dislike this holiday and think it over rated.

Love is free but most Valentine gifts do cost money. Valentine’s Day should be a fun day celebrating love. Isn’t that what it’s all about?

The greeting card industry and retailers in general have expanded this holiday so it’s not just your one true love; it’s your kids, little sister, grandmother, your mom, dad, the dog, the cat, the next-door neighbor, and your best friend. I’m surprised the card industry hasn’t found a way to include your ex.

It is indeed very commercial. There are red hearts everywhere reminding us of the day. Over 36 million heart shaped boxes of candy will be given as gifts this year, and last year the flower industry grew over 190 million roses for the day.

According to the National Retail Federation, the average consumer will spend $126 on Valentine’s Day, up from last year. With over 60% of consumers planning to celebrate the holiday, total 2012 Valentine’s Day spending is expected to be close to $18 billion.

Men spend more money on gifts than women by almost 2 to 1. Maybe they are just trying to make up for that flat screen TV they bought to watch the Super Bowl.

The survey also found consumers will shell out over $4 billion for jewelry this Valentine’s Day. About half of those surveyed intended to buy candy and 36% plan to buy flowers and take their sweetie out to dinner.

How much do you want to spend or can afford to spend on this holiday? It does not have to be expensive. You can do it really cheap and still let someone know they are loved!

Write a poem or a special letter to those you love. Tell them why they are loved and why you need them in your life. None of this “roses are red, violets are blue” stuff, you want the real thing. Something from the heart.

Harsha Agadi said in an email to employees Thursday that he has personal commitments that require his attention and he will remain on the Friendly’s Ice Cream Corp. board of directors.

Agadi was known as a restaurant turnaround specialist.

A company spokeswoman says chief marketing officer Andrea McKenna, who also was hired in August 2010, is also leaving.

Friendly’s chief operating officer James Parrish will serve as interim chief executive while a search for a permanent chief is conducted.

Friendly’s, founded in 1935, filed for bankruptcy protection in October, closed 100 of its restaurants and laid off about 2,000 employees.

Copyright 2012 The Associated Press.

New England Business Editor Anthony Silva, talked with energy analyst John Kilduff.

Listen to the report

Answer:  Often the first meeting with a financial planner is an exploratory meeting for both of you. Are you the right fit for their practice and for you will this planner address your needs? Consider it a first date.

The second date you will learn more about each other. I have a list of questions for you to ask the planner and some suggestions on how to be better prepared. This list comes from the FPA, the Financial Planning Association. An organization for financial planners.

There are a number of documents you’ll need once you engage a financial planner; a comprehensive list may be customized by your planner for your specific needs. Be prepared to answer questions regarding your age, current income, hobbies, goals, philosophy on money, etc. The planner should know more about you than your mother-in-law.

Figure out your net worth and do a cash flow. And bring supporting documents:

• Credit Card Balances
• Mortgage or Loan Payment Books
• Wills, Trusts, Powers of Attorney, Health Care Proxy
• Business Agreements
• Titles for Homes, Cars, Real Estate, etc.
• Retirement Account Statements
• Social Security Statements
• Pension Benefit Statement and Booklet
• Investment Statements
• Listing of Available Investment Options in Investment and Retirement Accounts
• Stock Options
• Homeowner and Automobile Declaration Pages
• Life, Disability or Long-term Care Insurance Polices
• Business Liability, Director and Officer Insurance Policies
• Tax Return

The questions to ask a planner come from NAPFA, The National Association of Personal Financial Advisors. This is an organization of fee-only planners. Here is a sampling:

• How long have you been offering financial planning services?
• What is your educational background?
• Will you provide me with references from other professionals?
• Will you or an associate work with me?
• Do you have an agreement describing your compensation and services that will be provided in advance of the engagement?
• Do you have a minimum fee?
• If you earn commissions, where do they come from?

Harriet Laurin researched how much it would cost to heat her home this year and the news wasn’t good. “It was nearly $4.00 a gallon in the summertime, and I said, ‘I don’t think so.’ There’s got to be a better way, so I started looking.

That’s when she found www.neighboroil.com, a new company based in Andover which promises to save homeowners big bucks by earning points. The more points, the cheaper the oil.

WBZ-TV’s Kate Merrill Reports

Harriet’s first reaction wasn’t positive. “Scam. Scam. It’s got to be a scam. It looks too good to be true.”

CEO Paul Harkins says he’s hearing that a lot because people aren’t used to saving money on their heat. “You could buy food, clothes, airline tickets. You could reduce the price all the way down to almost nothing by using coupons and reward, incentives. Home heating oil never had that ability.”

So in the past, the only option to save money was to turn the thermostat down and grab another sweater. With Neighbor Oil the focus is on accumulating those points, and there are a couple of ways to do that.

First, you can get points by getting family and friends to sign up. Harkins says that is the most popular approach. “It’s as simple as ‘I found this site, check it out’.”

You can become one of their ambassadors on social media which is what Harriet did. “I did Facebook. I did list groups because I belong to a few Yahoo groups, mostly related to dogs. And guess what? Dog owners use oil too.”

The American pastime of shopping can also help you save money on your oil. Harkins explained, “The other way to earn points is to shop with our more than 3,000 retail partners. You will see the for X dollars you spend, you earn Neighbor Points. It’s very easy to do.”

Neighor Oil keeps track of your points and calculates your lower price every time your order oil. The savings can add up fast for the average client. “We are saving them 30%-35% over last year’s price,” said Harkins.

Harriet did even better than that. Way better in fact. “$1.70 for the entire delivery, a penny a gallon,” she bragged. That’s right. A penny a gallon.

Harriet prides herself on being a smart shopper and says she still can’t find a catch to the Neighbor Oil approach.

Neighbor Oil is free to use and doesn’t require any contracts. You do, however, have to use the supplier in your area who is part of their network.

Answer:  I don’t know if it will ever be so safe that I can say you will never experience another recession. And as for bear markets, they come and go frequently. I do know that over time you will need stocks in your portfolio to give you a return that will beat both inflation and taxes.

If your money stays in your current holdings and we estimate a return of 3% over the next 27 years, it will more than double and be worth over $666,000. If you bump up your return to just 5% you could have over $1.2 million. Shall I take it to 8%? You could have $2.4 million.

Now that is without adding any new money to your accounts. What if I calculate an annual contribution of $15,000 a year for the next 27 years?

If we look at the 3% return, you would have a total of $1.3 million. At 5%, it could be $2.2 million and using the 8% your nest egg could conceivably grow to $3.8 million.

I chose 27 years because you will be eligible to collect your full Social Security then. And think about this, you could live 33 years or more retired. Someone in their 40s today needs to plan to live to be 100.

To get back into the market you could take the entire amount and invest it tomorrow or try dollar cost averaging. Here you would invest a certain amount each month. You are actually doing that with your retirement plans now. I would suggest each month for a year invest $25,000.

I would suggest a portfolio that is balanced. Stocks and bonds. Start with a 50-50 mix, 50% stock and 50% bonds. For the stock portion, 30% into a large cap growth mutual fund, 10% into a small cap fund, and 10% into an international fund. Not an emerging market fund, a diversified international fund.

For the bond portion, leave 25% in the stable value fund and put 25% in a total bond fund with an intermediate duration. Most 401(k) plans have such options and much more.

As your comfort level increases, start directing the new money into the stock portion of your portfolios. So eventually, you are at a 70-30 mix and then when you hit the magic age of 67 consider going back to the 50-50 mix.

The case involves two workers who used to work for Fidelity Investments.

Two plaintiffs say Fidelity came after them after they told regulators about illegal practices at the company.

But a court ruled mutual funds themselves have no employees and are not covered by a 2002 law passed to prevent financial fraud.

CUTS & CONSEQUENCES

The MBTA is looking at fare hikes and service cuts to trim its budget, but a group that promotes new development says that could jeopardize hundreds of private sector jobs.

The Metropolitan Area Planning Council says there are 250 projects statewide that could stall because they would be less accessible, and therefore, less desirable.

And it’s the uncertainty over these proposed cuts that could play a big role.

Developers and banks are unlikely to invest in projects with an uncertain future.

Watch Lisa’s report:

Lisa van der Pool of the Boston Business Journal can be seen weekdays at 6 a.m. on WBZ-TV.

You can follow Lisa on Twitter at @lvanderpool.

The children’s bookstore in Harvard Square will re-open under new management with a new business plan.

The Executive Director of the Harvard Square Business Association, Denise Jillson, says there’s been an outpouring of support of the store for months.

Adam and Jamie Hirsch will be the new owners. They have been working with trademark owner NBC Universal to revamp and refresh the store.

WBZ NewsRadio 1030′s Anthony Silva Reports

Nashoba Valley Winery in Bolton has purchased another eight acres to add to its 52 acreage, and is building a new warehouse to keep up with demand.

Richard Pelletier, the president of Nashoba Valley Winery, tells me his business has grown more than 40% over the past decade as he widens his focus.

WBZ NewsRadio 1030′s Anthony Silva reports

WBZ NewsRadio 1030′s Rod Fritz reports.

Schilling’s new video game, “Kingdoms of Amalur – Reckoning,” which is a fantasy adventure set in a mythical world, was released at midnight on Tuesday. It’s available for PC, X-BOX 360 and PlayStation 3 consoles.

Schilling’s Rhode Island-based company 38 Studios produced the game.

“We set out a goal to be the No. 1 entertainment company in the world,” said Schilling. “It’s going to take time, we get that. But, when you put really amazing talented together, and you allow them to do what it is they do best, special stuff happens, and that’s really what Reckoning is.”

The former Red Sox pitcher signed copies of the game when it was released at a GameStop in Bellingham.