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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.
 
Avatar 9540
 
"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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    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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