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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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18. Re: hmmmm Jan 25, 2012, 11:17 Beamer
 
Wildone wrote on Jan 25, 2012, 11:14:
Utter Bull. Its the producers and higher up within the company to make sure they have the best team, if the idiots are hired who's fault is it? And thats moronic thing to say, whilst there are always a few idiots in every studio 98% of the people are talented hard workers and its the management that fucks up. I KNOW IT. I've SEEN IT. Have you?!?

Yes. Yes I have.
Who the hell do you think are management in most studios? Answer: not business majors.
Smart people can be idiots. Are most programmers capable project managers? Are most programmers capable of managing a studio's finances? No. But very often they get promoted into these roles because they're good programmers. Or they start their own studio because they have great visions and no real knowledge of the background work needed to achieve them.

 
-------------
Music for the discerning:
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http://www.painkillerrecords.com
Previous Post Next Post Reply Quote Edit Delete Report
 
    Date Subject Author
  1. Jan 25, 09:57 Re: THQ Refocuses - Open Letter Lobster
  2. Jan 25, 10:05  Re: THQ Refocuses - Open Letter InBlack
  14. Jan 25, 11:13   Re: THQ Refocuses - Open Letter Matshock
  16. Jan 25, 11:15    Re: THQ Refocuses - Open Letter Beamer
  17. Jan 25, 11:15    Re: THQ Refocuses - Open Letter nin
  20. Jan 25, 11:19     Re: THQ Refocuses - Open Letter Beamer
  49. Jan 25, 19:35      Re: RE: Follow up UConnBBall
  21. Jan 25, 11:20    Re: THQ Refocuses - Open Letter Verno
  23. Jan 25, 11:25     Re: THQ Refocuses - Open Letter Beamer
  25. Jan 25, 11:39    Re: THQ Refocuses - Open Letter Wowbagger_TIP
  26. Jan 25, 11:53     Re: THQ Refocuses - Open Letter Wildone
  27. Jan 25, 12:36      Re: THQ Refocuses - Open Letter Prez
  36. Jan 25, 14:22       Re: THQ Refocuses - Open Letter Jay
  30. Jan 25, 13:31     Re: THQ Refocuses - Open Letter Matshock
  31. Jan 25, 13:39      Re: THQ Refocuses - Open Letter space captain
  32. Jan 25, 13:41       Re: THQ Refocuses - Open Letter SimplyMonk
  33. Jan 25, 13:44        Re: THQ Refocuses - Open Letter rlknight66
  34. Jan 25, 13:51       Re: THQ Refocuses - Open Letter Matshock
  41. Jan 25, 15:20        Re: THQ Refocuses - Open Letter space captain
  37. Jan 25, 14:28      Re: THQ Refocuses - Open Letter Wowbagger_TIP
  38. Jan 25, 14:56       Re: THQ Refocuses - Open Letter Matshock
  39. Jan 25, 15:03        Re: THQ Refocuses - Open Letter Wowbagger_TIP
  40. Jan 25, 15:12         Re: THQ Refocuses - Open Letter Matshock
  3. Jan 25, 10:06  Re: THQ Refocuses - Open Letter nin
  5. Jan 25, 10:19   Re: THQ Refocuses - Open Letter InBlack
  6. Jan 25, 10:20   Re: THQ Refocuses - Open Letter Beamer
  9. Jan 25, 10:36    Re: THQ Refocuses - Open Letter InBlack
  4. Jan 25, 10:18 Re: THQ Refocuses - Open Letter Verno
  7. Jan 25, 10:30 Re: THQ Refocuses - Open Letter Kajetan
  8. Jan 25, 10:35  hmmmm Shataan
  10. Jan 25, 10:54   Re: hmmmm Verno
  11. Jan 25, 10:58    Re: hmmmm Beamer
  12. Jan 25, 11:02     Re: hmmmm space captain
  13. Jan 25, 11:08      Re: hmmmm Beamer
  19. Jan 25, 11:17       Re: hmmmm space captain
  22. Jan 25, 11:23        Re: hmmmm Beamer
  24. Jan 25, 11:38         Re: hmmmm space captain
  15. Jan 25, 11:14     Re: hmmmm Wildone
>> 18. Jan 25, 11:17      Re: hmmmm Beamer
  28. Jan 25, 12:56 Re: THQ Refocuses - Open Letter Creston
  29. Jan 25, 13:25  Re: THQ Refocuses - Open Letter Lorcin
  35. Jan 25, 14:03 Re: THQ Refocuses - Open Letter Verno
  42. Jan 25, 16:05 Re: THQ Refocuses - Open Letter Silicon Avatar
  43. Jan 25, 16:46 Re: THQ Refocuses - Open Letter Cutter
  44. Jan 25, 17:16  Re: THQ Refocuses - Open Letter Prez
  45. Jan 25, 17:25   Re: THQ Refocuses - Open Letter Burrito of Peace
  46. Jan 25, 17:37    Re: THQ Refocuses - Open Letter PHJF
  47. Jan 25, 17:42    Re: THQ Refocuses - Open Letter Prez
  48. Jan 25, 17:45   Re: THQ Refocuses - Open Letter Wowbagger_TIP
  50. Jan 25, 19:38    Re: THQ Refocuses - Open Letter Prez
  51. Jan 25, 19:44     Re: THQ Refocuses - Open Letter killer_roach
  52. Jan 25, 19:47   Re: THQ Refocuses - Open Letter Cutter
  54. Jan 25, 21:04    Re: THQ Refocuses - Open Letter Matshock
  55. Jan 25, 21:59    Re: THQ Refocuses - Open Letter RollinThundr
  56. Jan 25, 22:29     Re: THQ Refocuses - Open Letter PHJF
  62. Jan 26, 00:51      Re: THQ Refocuses - Open Letter Matshock
  58. Jan 26, 00:08     Re: THQ Refocuses - Open Letter Wowbagger_TIP
  61. Jan 26, 00:24      Re: THQ Refocuses - Open Letter RollinThundr
  63. Jan 26, 01:05       Re: THQ Refocuses - Open Letter space captain
  77. Jan 26, 09:42        Re: THQ Refocuses - Open Letter RollinThundr
  64. Jan 26, 01:06       Re: THQ Refocuses - Open Letter Wowbagger_TIP
  65. Jan 26, 01:57        Re: THQ Refocuses - Open Letter TurdFergasun
  71. Jan 26, 06:26       Re: THQ Refocuses - Open Letter Bhruic
  53. Jan 25, 20:39 Re: THQ Refocuses - Open Letter bhcompy
  67. Jan 26, 03:15  Re: THQ Refocuses - Open Letter Jerykk
  68. Jan 26, 04:14   Re: THQ Refocuses - Open Letter Prez
  70. Jan 26, 04:30   Re: THQ Refocuses - Open Letter InBlack
  72. Jan 26, 06:38   Re: THQ Refocuses - Open Letter Burrito of Peace
  73. Jan 26, 07:58    Re: THQ Refocuses - Open Letter Prez
  75. Jan 26, 08:57     Re: THQ Refocuses - Open Letter InBlack
  76. Jan 26, 09:09     Re: THQ Refocuses - Open Letter Bhruic
  84. Jan 26, 11:33      Re: THQ Refocuses - Open Letter Prez
  78. Jan 26, 09:45     Re: THQ Refocuses - Open Letter RollinThundr
  79. Jan 26, 10:11      Re: THQ Refocuses - Open Letter Verno
  81. Jan 26, 10:47      Re: THQ Refocuses - Open Letter Matshock
  82. Jan 26, 11:09       Re: THQ Refocuses - Open Letter Wowbagger_TIP
  83. Jan 26, 11:28        Re: THQ Refocuses - Open Letter Matshock
  86. Jan 26, 13:02         Re: THQ Refocuses - Open Letter Wowbagger_TIP
  88. Jan 26, 14:44          Re: THQ Refocuses - Open Letter Matshock
  89. Jan 26, 15:47           Re: THQ Refocuses - Open Letter Wowbagger_TIP
  85. Jan 26, 12:32       Re: THQ Refocuses - Open Letter RollinThundr
  87. Jan 26, 13:13        Re: THQ Refocuses - Open Letter Wowbagger_TIP
  90. Jan 26, 17:16         Re: THQ Refocuses - Open Letter RollinThundr
  91. Jan 26, 18:11          Re: THQ Refocuses - Open Letter Wowbagger_TIP
  92. Jan 26, 18:59           Re: THQ Refocuses - Open Letter RollinThundr
  93. Jan 26, 19:20            Re: THQ Refocuses - Open Letter Wowbagger_TIP
  94. Jan 27, 08:39             Re: THQ Refocuses - Open Letter RollinThundr
  95. Jan 27, 10:23              Re: THQ Refocuses - Open Letter Wowbagger_TIP
  80. Jan 26, 10:32     Re: THQ Refocuses - Open Letter Wowbagger_TIP
  57. Jan 25, 22:36 Re: THQ Refocuses - Open Letter Cutter
  59. Jan 26, 00:08  Re: THQ Refocuses - Open Letter RollinThundr
  60. Jan 26, 00:11   Re: THQ Refocuses - Open Letter Wowbagger_TIP
  66. Jan 26, 02:40 Re: THQ Refocuses - Open Letter space captain
  69. Jan 26, 04:17  Re: THQ Refocuses - Open Letter Kajetan
  74. Jan 26, 08:53 Re: THQ Refocuses - Open Letter Verno


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