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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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89. Re: THQ Refocuses - Open Letter Jan 26, 2012, 15:47 Wowbagger_TIP
 
Matshock wrote on Jan 26, 2012, 14:44:
At this point you're ignoring the fact that Obama and the Dems passed a bill that threw up a bureaucratic wall between my Aunt and her blood pressure meds. If she didn't have me around to look out for her she would have gone without them and died pretty soon because of it.
So because the bad thing happened to your family this time, it's suddenly some sort of planned attack with the goal of destroying people like you? You discount all the families who have been hurt or destroyed by Republican legislation? Kiss my ass. You don't think about them because you don't really care.

Matshock wrote on Jan 26, 2012, 14:44:
There are many seniors out there right now that had their coverage changed with no notice and are not receiving the care they were before. This is by design.
Your vaunted capitalist system does this all the time! Insurance companies drop people from care when they need it most on a regular basis! But of course you ignore that.

You still haven't explained what happened with your grandmother, or why her coverage changed, or how it relates to the health care law. I don't know of any changes that took place on January 1, 2012 aside from some reporting changes.

Matshock wrote on Jan 26, 2012, 14:44:
For what it's worth- Romney signed a similar bill in MA so there's not much hope that the Republicans will really stop .gov from clearing out as many medicare dependents as they can without actually shooting them.
Again, you haven't explained what provision of the law is supposedly targeting seniors for extermination.

Matshock wrote on Jan 26, 2012, 14:44:
I'll call Obama a commie. The only reason the avowed commies are pissed at him is because they don't have the guts to start a civil war without the feds leading them and Obama doesn't have the guts to go full retard.

He may not be all the commie he wants to be but he's working on it every day. His buddy and mentor Bill Ayers is a huge freakin commie who lives in the only place in the USA where he's safe from his victims courtesy of the people of Chicago.
And now you've devolved into incomprehensible babbling. I don't have time to try to decipher whatever code you're speaking in. I have no idea what Bill Ayers has to do with anything anymore. I tend to tune out doomsday talk about civil wars and such, as nobody in this country wants one aside from the far loonie fringes on the right and left, but those people are so disturbed that nothing they say surprises me.

Matshock wrote on Jan 26, 2012, 14:44:
I'm done educating you. Take care.
I did learn a lot about you, that much is certain.
 
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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