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THQ Refocuses - Open Letter

NeoGAF has a lengthy letter sent anonymously overnight to the THQ Board of Directors, and signed by "The Formerly Mismanaged," who claim to be a group of "Current and Ex-Employees, Shareholders, and The Public" (thanks Strategy Informer). The letter attempts "to explain to outsiders how this beaten-down company has wound up in this position, laying blame for sharp declines to the company's stock price at the feet of CEO Brian Farrell, and calling other executives to task by name for failures to live up to their seven-figure salaries. On a related, though perhaps coincidental note, THQ announces a realignment whereby it is "exiting its relationships with kidsí licensed entertainment companies but will continue to sell certain previously released titles." Going forward, word is: "The company will continue to build its strong portfolio of core game franchises and align its resources to deliver games on both existing consoles and new and emerging platforms. The company intends to accelerate digital revenues by extending and supporting key console launches, and to create dedicated digital properties for emerging platforms." Here's a portion of the open letter:

THQ had been known through the years for having a formula. They find a hot license, make a cheap game, barely advertise it, and make money. This formula worked during the Playstation and Xbox and Gameboy days and made the company a lot of cash. Unfortunately, THQís old guard executives seem to be stuck trying to manage the company the same way they did back then and havenít realized the industry has changed.

The beginning of the end came years ago as Brian Farrell lead an executive team to acquire a large number of studios. A large amount of cash was used in the acquisition or setup of game developers with different degrees of talent. The problem was they were bought without strategic reasoning or specific plan on to use them. So after awhile another large amount of money was spent as those studios failed and were sold off and shut down. The executive team at the time were an entirely different group of people with one key exception in the CEO. The CEO/the then executive team wasted the cash that the company had built up with these massive investments and selloffs.

The studio purchase errors were not helped by the mistakes in the licensing deals that were signed by the same CEO. Millions and millions of dollars were wasted on acquiring licenses at the same time the kids, family, casual business was declining at a rapid rate. Instead of slowing those acquisitions he overpaid for more of them until again cash was wasted in paying for brands that didnít sell well anymore.

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37. Re: THQ Refocuses - Open Letter Jan 25, 2012, 14:28 Wowbagger_TIP
Matshock wrote on Jan 25, 2012, 13:31:
The generic term "change" is almost always used to describe some form of increased government control re: corporate management today. I'm not going to pretend this isn't the case to satisfy people playing obvious semantic games who are ignorant enough to think they're being coy.

The problem is not capitalism, if it were capitalism then you'd be working 90 hours a week and living in a company dorm like they do in China. Your quality of life would also be slowly improving instead of decaying.

I know most of you aren't doing that because the Frisbee golf course near my house is heavily populated by 20-30 somethings all day every day who are collecting 99+ weeks of unemployment checks.
Spoken like a true ideologue. As if you actually know the situation of all those people. You simply assume whatever suits your argument. You may be right for some, but you really don't know or care to find out.

Matshock wrote on Jan 25, 2012, 13:31:
The unvarnished truth is:

What you're suffering under now is fascism- the real meaning of the term is federally controlled capitalism as coined by Mussolini. Corporations and .gov are working together to screw you over.

The tall wall of separation many people see between their favorite politician and the corporation they hate doesn't exist. The Emperor Has No Clothes.
What arguments have you been listening to? Who, exactly, thinks there's any wall between corporations and government? It's a revolving door! The reason the most wealthy in America have been doing just fantastic while wages and services for everyone else have been stagnant or dropping is that they have lobbyists and a direct line to the legislators. The rest of the population has neither, and has been cleverly distracted from what's really going on by all the bullshit hot-button issues that the legislators pretend to give a shit about. You think Gingrich really cares about the sanctity of marriage? Really?

Matshock wrote on Jan 25, 2012, 13:31:
Now if accountability (punishment) is what you want- either full blown capitalism or communism will do equally well, either way a small group of the most ruthless will eliminate their competitors, they still won't give a damn about workers but you'll get to see plenty of suffering at high levels.

Don't ask me how to really fix it unless you want a bunch of Jesus.
I have no idea what "a bunch of Jesus" would do for us. We've got Jesus coming out our ears in this country, and everyone still does whatever the hell they want and just rationalizes it anyway. What I want is not full-blown capitalism or communism. We aren't shooting for Lord of the Flies here. We're trying to create something that allows everyone to have opportunity to succeed and be comfortable in their life, but not one that just hands you whatever you want. The problem is that the system has been massively rigged by those with the influence (read: money) to do so. This needs to be rectified, but it probably won't be unless people stop bullshitting themselves that the current system is even remotely fair, and stop focusing on the shiny issues they hold up to keep everyone distracted as the wealth of the country flows steadily to the handful at the top.
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"The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts." -- Bertrand Russell (I think...)
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