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 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.
View : : :
88.
 
Re: THQ Refocuses - Open Letter
Jan 26, 2012, 14:44
88.
Re: THQ Refocuses - Open Letter Jan 26, 2012, 14:44
Jan 26, 2012, 14:44
 
Wowbagger_TIP wrote on Jan 26, 2012, 13:02:
Matshock wrote on Jan 26, 2012, 11:28:
Wowbagger_TIP wrote on Jan 26, 2012, 11:09:
Maybe you'd like to explain what you're talking about rather than engaging in ridiculous hyperbole?

Go look up China's "Great Leap Forward"- it's the name of a historical event occurring circa 1958, not "ridiculous hyperbole".

Everything the pinkos are doing has been done before, just in the last century no less. They're running the playbook to the letter.

To paraphrase Dennis Miller: "If we were up against Lenin, Stalin and Trotsky I'd be worried. But this is more like the Larry, Moe and Curly of communism so not so much."

NOW THAT'S ridiculous hyperbole but true regardless.
I understand the reference, which is why I called it hyperbole and asked you to explain wtf you're talking about. Obama is hardly a commie, he's so centrist that both sides are pissed at him. So yeah, you're gonna have to explain what he's done that make this just like what the Chinese did.

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.

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.

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.

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.

I'm done educating you. Take care.

Date
Subject
Author
1.
Jan 25, 2012Jan 25 2012
2.
Jan 25, 2012Jan 25 2012
14.
Jan 25, 2012Jan 25 2012
16.
Jan 25, 2012Jan 25 2012
17.
Jan 25, 2012Jan 25 2012
20.
Jan 25, 2012Jan 25 2012
49.
Jan 25, 2012Jan 25 2012
21.
Jan 25, 2012Jan 25 2012
23.
Jan 25, 2012Jan 25 2012
25.
Jan 25, 2012Jan 25 2012
26.
Jan 25, 2012Jan 25 2012
27.
Jan 25, 2012Jan 25 2012
36.
Jan 25, 2012Jan 25 2012
30.
Jan 25, 2012Jan 25 2012
31.
Jan 25, 2012Jan 25 2012
32.
Jan 25, 2012Jan 25 2012
33.
Jan 25, 2012Jan 25 2012
34.
Jan 25, 2012Jan 25 2012
41.
Jan 25, 2012Jan 25 2012
37.
Jan 25, 2012Jan 25 2012
38.
Jan 25, 2012Jan 25 2012
39.
Jan 25, 2012Jan 25 2012
40.
Jan 25, 2012Jan 25 2012
3.
Jan 25, 2012Jan 25 2012
5.
Jan 25, 2012Jan 25 2012
6.
Jan 25, 2012Jan 25 2012
9.
Jan 25, 2012Jan 25 2012
4.
Jan 25, 2012Jan 25 2012
7.
Jan 25, 2012Jan 25 2012
8.
Jan 25, 2012Jan 25 2012
10.
Jan 25, 2012Jan 25 2012
11.
Jan 25, 2012Jan 25 2012
12.
Jan 25, 2012Jan 25 2012
    Re: hmmmm
13.
Jan 25, 2012Jan 25 2012
     Re: hmmmm
19.
Jan 25, 2012Jan 25 2012
      Re: hmmmm
22.
Jan 25, 2012Jan 25 2012
       Re: hmmmm
24.
Jan 25, 2012Jan 25 2012
        Re: hmmmm
15.
Jan 25, 2012Jan 25 2012
    Re: hmmmm
18.
Jan 25, 2012Jan 25 2012
     Re: hmmmm
28.
Jan 25, 2012Jan 25 2012
29.
Jan 25, 2012Jan 25 2012
35.
Jan 25, 2012Jan 25 2012
42.
Jan 25, 2012Jan 25 2012
43.
Jan 25, 2012Jan 25 2012
44.
Jan 25, 2012Jan 25 2012
45.
Jan 25, 2012Jan 25 2012
46.
Jan 25, 2012Jan 25 2012
47.
Jan 25, 2012Jan 25 2012
48.
Jan 25, 2012Jan 25 2012
50.
Jan 25, 2012Jan 25 2012
51.
Jan 25, 2012Jan 25 2012
52.
Jan 25, 2012Jan 25 2012
54.
Jan 25, 2012Jan 25 2012
55.
Jan 25, 2012Jan 25 2012
56.
Jan 25, 2012Jan 25 2012
62.
Jan 26, 2012Jan 26 2012
58.
Jan 26, 2012Jan 26 2012
61.
Jan 26, 2012Jan 26 2012
63.
Jan 26, 2012Jan 26 2012
77.
Jan 26, 2012Jan 26 2012
64.
Jan 26, 2012Jan 26 2012
65.
Jan 26, 2012Jan 26 2012
71.
Jan 26, 2012Jan 26 2012
53.
Jan 25, 2012Jan 25 2012
67.
Jan 26, 2012Jan 26 2012
68.
Jan 26, 2012Jan 26 2012
70.
Jan 26, 2012Jan 26 2012
72.
Jan 26, 2012Jan 26 2012
73.
Jan 26, 2012Jan 26 2012
75.
Jan 26, 2012Jan 26 2012
76.
Jan 26, 2012Jan 26 2012
84.
Jan 26, 2012Jan 26 2012
78.
Jan 26, 2012Jan 26 2012
79.
Jan 26, 2012Jan 26 2012
81.
Jan 26, 2012Jan 26 2012
82.
Jan 26, 2012Jan 26 2012
83.
Jan 26, 2012Jan 26 2012
86.
Jan 26, 2012Jan 26 2012
 88.
Jan 26, 2012Jan 26 2012
         Re: THQ Refocuses - Open Letter
89.
Jan 26, 2012Jan 26 2012
85.
Jan 26, 2012Jan 26 2012
87.
Jan 26, 2012Jan 26 2012
90.
Jan 26, 2012Jan 26 2012
91.
Jan 26, 2012Jan 26 2012
92.
Jan 26, 2012Jan 26 2012
93.
Jan 26, 2012Jan 26 2012
           Re: THQ Refocuses - Open Letter
94.
Jan 27, 2012Jan 27 2012
            Re: THQ Refocuses - Open Letter
95.
Jan 27, 2012Jan 27 2012
             Re: THQ Refocuses - Open Letter
80.
Jan 26, 2012Jan 26 2012
57.
Jan 25, 2012Jan 25 2012
59.
Jan 26, 2012Jan 26 2012
60.
Jan 26, 2012Jan 26 2012
66.
Jan 26, 2012Jan 26 2012
69.
Jan 26, 2012Jan 26 2012
74.
Jan 26, 2012Jan 26 2012