GameCo Stocks Suffer in Wake of Congressional Bailout Failure
GameCo Stocks Suffer in Wake of Congressional Bailout Failure
September 30, 2008
While video games are said to be recession-proof, video game publisher stocks are not immune to Wall Street turbulence, as witnessed by yesterday's market free fall.
As GameSpot reports, virtually all of the major game publishers took a hit in yesterday's sell-off after Congress failed to pass a bailout bill.
Wedbush-Morgan analyst Michael Pachter managed to find some humor in the situation, however, as reported by Cnet:
Wedbush Morgan analyst Michael Pachter, who tracks the video game market, said his industry will suffer like any other, though he did offer a suggestion for how to make lemonade from the financial lemons being lobbed from Washington.
"I think we need a game where instead of shooting (Nazis), we shoot Congress," he said. "This is embarrassing."
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Posted 11/22/09 at 12:06am
JDKJ: You should get Phil McCraken to help you spackle those banisters.
JDKJ: You should get Phil McCraken to help you spackle those banisters.
Posted 11/21/09 at 11:57pm
ZippyDSMlee: Oh in the pirate hunter article I need my song ieda heckled DS,JD,Beemon sic im !!!
ZippyDSMlee: Oh in the pirate hunter article I need my song ieda heckled DS,JD,Beemon sic im !!!
Posted 11/21/09 at 11:56pm
ZippyDSMlee: JD:no I am tried from prepping the banisters for painting , worked on them from 12 to 4 and 6 to 8...after I got back from the store...got up early got ready...blah...been up all day..I need a nap...
ZippyDSMlee: JD:no I am tried from prepping the banisters for painting , worked on them from 12 to 4 and 6 to 8...after I got back from the store...got up early got ready...blah...been up all day..I need a nap...
Posted 11/21/09 at 11:42pm
JDKJ: No. You gonna stay up late tonight soldering?
JDKJ: No. You gonna stay up late tonight soldering?
Posted 11/21/09 at 11:41pm
ZippyDSMlee: JDKJ:Don't you mean Mctite?
ZippyDSMlee: JDKJ:Don't you mean Mctite?
Posted 11/21/09 at 11:33pm
JDKJ: @Zip: Neil, Bob, and Lik McTaint. The McTaint brothers. LOL!!!
JDKJ: @Zip: Neil, Bob, and Lik McTaint. The McTaint brothers. LOL!!!
Posted 11/21/09 at 09:44pm
Flamespeak: I still think military personell, killing other military personell, on a military complex should be handled by military courts.
Flamespeak: I still think military personell, killing other military personell, on a military complex should be handled by military courts.
Posted 11/21/09 at 09:43pm
Flamespeak: I could see this a mixture of the two charges rather than just one or the other.
Flamespeak: I could see this a mixture of the two charges rather than just one or the other.
Posted 11/21/09 at 09:43pm
Flamespeak: I think this was mainly a person who snapped, but evidence is showing he definitely had strong inlinations to islamic-extremism.
Flamespeak: I think this was mainly a person who snapped, but evidence is showing he definitely had strong inlinations to islamic-extremism.
Posted 11/21/09 at 09:41pm
Flamespeak: People are trying to claim that Hasan's actions were not terrorism. I don't jump on the 'terror train' like others, however
Flamespeak: People are trying to claim that Hasan's actions were not terrorism. I don't jump on the 'terror train' like others, however
Posted 11/21/09 at 09:38pm
mentor07825: Britain certainly does deserve it! And the French! God damn it, it was a hand ball!!!
mentor07825: Britain certainly does deserve it! And the French! God damn it, it was a hand ball!!!
Posted 11/21/09 at 09:34pm
ZippyDSMlee: mentor07825:Well Brittan dose deserve it....
ZippyDSMlee: mentor07825:Well Brittan dose deserve it....
Posted 11/21/09 at 09:33pm
ZippyDSMlee: Alyric:I don;t hasliburton having to pay back billoins... don;t you love it when the rich roll over the goverment without a care?
ZippyDSMlee: Alyric:I don;t hasliburton having to pay back billoins... don;t you love it when the rich roll over the goverment without a care?
Posted 11/21/09 at 09:32pm
mentor07825: I say we nuke the whales, for the benefit of both mankind and the environment.
mentor07825: I say we nuke the whales, for the benefit of both mankind and the environment.
Posted 11/21/09 at 09:28pm
Austin_Lewis: I say we try Al Gore too. I always said he was in on the racket.
Austin_Lewis: I say we try Al Gore too. I always said he was in on the racket.
Posted 11/21/09 at 09:16pm
Alyric: The leaked information proves these organizations knowingly defrauded governments (i.e., taxpayers) out of billions of dollars. Yet there will probably never be a trial.
Alyric: The leaked information proves these organizations knowingly defrauded governments (i.e., taxpayers) out of billions of dollars. Yet there will probably never be a trial.
Posted 11/21/09 at 09:15pm
Flamespeak: working on other things makes me angry. I might have had a jet pack by now. :p
Flamespeak: working on other things makes me angry. I might have had a jet pack by now. :p
Posted 11/21/09 at 09:14pm
Flamespeak: Just thinking of all the time and manpower wasted to try and make things emit less CO2 emmision that could have been spent
Flamespeak: Just thinking of all the time and manpower wasted to try and make things emit less CO2 emmision that could have been spent
Posted 11/21/09 at 09:07pm
Alyric: @Zip: FYI, the construction of solar panels puts out more pollution than any form of energy production. To say nothing of the toxic components of the panels that cannot be recycled.
Alyric: @Zip: FYI, the construction of solar panels puts out more pollution than any form of energy production. To say nothing of the toxic components of the panels that cannot be recycled.
Posted 11/21/09 at 09:04pm
ZippyDSMlee: I know I know not the point.
ZippyDSMlee: I know I know not the point.
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Comments
"I think we need a game where instead of shooting (Nazis), we shoot Congress," he said. "This is embarrassing."
I can only imagine what will happen if the mainstream media gets their hands on this quote.
/popcorn
---
I'm not under the affluence of incohol as some thinkle peep I am. I'm not half as thunk as you might drink. I fool so feelish I don't know who is me, and the drunker I stand here, the longer I get.
Agreed... Can I have some popcorn? haha...
T2's stock is back up to 16.1 today, while EA's stock is still going down and is at 35.5... It seems EA is taking a decent hit, a week ago they were at 40, while T2 was at 16.3... So in ratio EA has dropped 5 times as much as T2. It is really too bad, I wanted to see how the DRM stuff was hurting them, but with the market screwed up like this, we will never know.
What are the laws about making games about killing elected officals... I believe you could actaully get in trouble over it.
Can I have some popcorn?
*passes the bucket DeepThorn's way*
---
I'm not under the affluence of incohol as some thinkle peep I am. I'm not half as thunk as you might drink. I fool so feelish I don't know who is me, and the drunker I stand here, the longer I get.
The mainstream media will just whine about video game bannings, but nothing serious will come out of it.
--- Official Protector of Videoland!
I would So buy that.
United we Stand, Divided we fall.
Games where you shoot members of Congress? Surely they are 10 a penny on Flash game sites? I'm sure Newgrounds has a few.
I'd settle for a good old fashion storm on congress with torches and pitchforks. I've said it once, I've said it a thousand times, Washington D.C. Needs a political enema.
Agreed with this too... And they need it badly.
I think we should do like Lewis Black suggested, march down to D.C. and electroshock everbody. Just to get them back on track.
Congress is to be lauded for rejecting a terrible plan. Don't jump onto some Wall Street millionaire's viewpoint of blaming Congress for failing to bail out him and his ilk with OUR hard earned tax dollars. The correct plan will have the government helping people keep their houses, not ensuring a bunch of greedy fat cats don't lose a portion of their profit.
A completely free market is open to exploitation, as we see all the time in every multiplayer environment. The Gov are the GameDevs, who must make rules and enforce them in order to let everyone play fairly.
Hold Congress and the rest of the government responsible to create a GOOD plan and follow up with re-regulating the financial markets so we don't face this particular fiasco again.
"Think Free or Die"
I completely approve of Congress throwing the Bill out.
Why? No-one read the fine print. It would have given Bush unlimited powers for an infinite time period.
~You Could Be Mine, But You're Way Out Of Line..~
Count me among those lauding Congress. In a truly free society, you have to be free to fail as well as free to succeed. Sometimes that failure is gigantic.