|
|
 |
| [Jan 25, 2012, 10:37 am ET] - Share - Viewing Comments |
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 kids’ 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, THQ’s old guard executives seem to be stuck trying to manage the company the same way they did back then and haven’t 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 didn’t sell well anymore.
 |
| 90. |
Re: THQ Refocuses - Open Letter |
Jan 26, 2012, 17:16 |
RollinThundr |
|
|
Wowbagger_TIP wrote on Jan 26, 2012, 13:13:
RollinThundr wrote on Jan 26, 2012, 12:32:
Matshock wrote on Jan 26, 2012, 10:47:
RollinThundr wrote on Jan 26, 2012, 09:45: Change the tax codes so everyone pays a flat 18% Across the board. That's fair isn't it? Democrats talk about fairness all the time. Everyone paying the same sounds fair to me. More like 27% if you don't want to cut Social Security/Medicare deeply.
But that would be a step in the right direction- it will end all of the special interest provisions built into the tax code.
And for those rolling your eyes- 27% is a lot more than the capital gains 15% cap (18% is more for that matter). If anything, tax revenues will go up because the multi-nationals like Apple & GM will have fewer places to hide income.
If you're gonna bleed all over about the poor just print them off some more food credit for their WIC cards. They can keep buying cases of energy drinks for their cocktails before mounting their new pickup trucks.
IMO it's too late anyway but if someone wants to take a shot at plugging the gaping hole in the hull from the inside then be my guest.
Here is the Democrat's final solution:
Obama has prepped for our "Great Leap Forward" by dooming our seniors to an earlier grave.
Part of the Obamacare law that went into effect this January 1 was to stop paying for my Aunt's blood pressure meds- no notice was sent to her or her doctor, apparently my 92 year old aunt is supposed to read 25K+ pages of regulations and prepare accordingly.
It's as old as paganism itself- when the crops don't come in start opening throats on the altar of hedonism until everyone left is satisfied again.
18% is fine. Maybe a few percent more. The problem in the US is people are not taught to be personally responsible anymore. It is NOT government's job to provide. Budgeting isn't rocket science yet to liberals it apparently is, why I don't know. Saving for retirement isn't rocket science either. To those on the left, their solution is just tax the rich more and redistribute it to every one else. It's a failed idelogy. Socialism, much like communism doesn't work. Your problem is that you don't seem to comprehend that not everyone has the same starting point as you, and that some people start off so ridiculously handicapped by their circumstances that they're lucky if they can manage to even get enough education to have a clue that there is any other way than what they see around them every day.
You throw around words like Socialism and Communism like they actually mean something in the real world. They, like capitalism, have just been a means to extract wealth from everyone and funnel it to those in power. Everything else just depends on what people are willing to put up with. As information has become more available, their willingness to tolerate the rigging of the game has decreased as well. Places like N. Korea can only exist because they have managed to successfully limit the flow of information to their people so that nothing interferes with their brainwashing. My starting point was coming from nothing, everything I've achieved I've done myself through hard work and effort to make something of myself. So please, don't lecture me on my starting point.
Take a good look at the people Obama surrounds himself with, the aforementioned Ayers, the raciest Rev Wright, you mean to tell me Obama sat in his church pew for 19 years and didn't hear the raciest drivel he spews out and doesn't follow it? One listen to some of the things our "first lady" spews should turn a light bulb on.
The man is all about socialism and wealth redistribution. It's quite easy to figure it out. C'mon man don't be dense.
Not that the GOP is much better by any means, please don't think I'm trying to say they are.
But at the end of the day, unless we get a true fiscal conservative in office that seriously makes the tough cuts that need to be made, we're never going to get out of the debt rut. You can only borrow from China and others for so long. The tax and spend mentality of most liberals and a good part of republicans, isn't sustainable. |
|
|
|
|
|
 |
|
| |
| |
|
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 |
|
|
|