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 11/08/09 at 09:02am
DarkSaber: http://tinyurl.com/yez7jyo
DarkSaber: http://tinyurl.com/yez7jyo
Posted 11/08/09 at 09:01am
DarkSaber: Oh for gods sake, the Gearbox pres is gobbing off about Valve again
DarkSaber: Oh for gods sake, the Gearbox pres is gobbing off about Valve again
Posted 11/08/09 at 08:53am
JDKJ: But cheer up, Austin. If the unemployment rate continues to double-digit as predicted for the next few years, your half-dozen stands a better than likely chance of returning to power.
JDKJ: But cheer up, Austin. If the unemployment rate continues to double-digit as predicted for the next few years, your half-dozen stands a better than likely chance of returning to power.
Posted 11/08/09 at 08:46am
JDKJ: @DS: If he had added the line about "or hiring illegals aliens under the table to work as nannies," it would have been a completely perfect descripition. And, yes, it's about the same difference between a six and a half-dozen.
JDKJ: @DS: If he had added the line about "or hiring illegals aliens under the table to work as nannies," it would have been a completely perfect descripition. And, yes, it's about the same difference between a six and a half-dozen.
Posted 11/08/09 at 08:31am
DarkSaber: My god, that description makes them sound almost Republican. Still what did you expect, Obama is only marginally more left than republicans.
DarkSaber: My god, that description makes them sound almost Republican. Still what did you expect, Obama is only marginally more left than republicans.
Posted 11/08/09 at 01:07am
Austin_Lewis: Health insurance, brought to you by the same kind of bureacrats who couldn't, in timely fashion, investigate the comments of any of the men Obama appointed Czars. Or their past. Or their history of not paying taxes.
Austin_Lewis: Health insurance, brought to you by the same kind of bureacrats who couldn't, in timely fashion, investigate the comments of any of the men Obama appointed Czars. Or their past. Or their history of not paying taxes.
Posted 11/08/09 at 01:06am
Austin_Lewis: Yes, and what a piece of crap it was. Arresting and fining people just because they don't make a personal choice to buy healh insurance, creating over a hundred new bureacracies, and worse.
Austin_Lewis: Yes, and what a piece of crap it was. Arresting and fining people just because they don't make a personal choice to buy healh insurance, creating over a hundred new bureacracies, and worse.
Posted 11/08/09 at 12:24am
ZippyDSMlee: JDKJ:the only trouble is a bunch of witless hacks wrote it....its going to be a train wreck....
ZippyDSMlee: JDKJ:the only trouble is a bunch of witless hacks wrote it....its going to be a train wreck....
Posted 11/07/09 at 11:33pm
JDKJ: BREAKING: In a photo-finish at the wire, House passes health care reform bill. Relatedly, in a fit of pique, Austin Lewis kicks innocent dog.
JDKJ: BREAKING: In a photo-finish at the wire, House passes health care reform bill. Relatedly, in a fit of pique, Austin Lewis kicks innocent dog.
Posted 11/07/09 at 04:27pm
ZippyDSMlee: man I got alot of junk and dup files too >< god I need orginization...and no not the knee capping media mafia kind :P
ZippyDSMlee: man I got alot of junk and dup files too >< god I need orginization...and no not the knee capping media mafia kind :P
Posted 11/07/09 at 04:26pm
ZippyDSMlee: replaced :P
ZippyDSMlee: replaced :P
Posted 11/07/09 at 04:23pm
ZippyDSMlee: beemoh:hey its like 60GB porn,400GB anime 100GB games and crap I have took from all my DVDs, I hate waiting on dvds to install stuff..... oh and 40GB of my porn was in the found.000 folder...mostly corrupted.... least I got names of wut needs to be repa
ZippyDSMlee: beemoh:hey its like 60GB porn,400GB anime 100GB games and crap I have took from all my DVDs, I hate waiting on dvds to install stuff..... oh and 40GB of my porn was in the found.000 folder...mostly corrupted.... least I got names of wut needs to be repa
Posted 11/07/09 at 04:18pm
beemoh: @Zip: ...and you'd have to spend all that time re-downloading that porn?
beemoh: @Zip: ...and you'd have to spend all that time re-downloading that porn?
Posted 11/07/09 at 03:34pm
ZippyDSMlee: ggrrrrr......vista lost one of my hard drives and I had a heart attack thinking I lost 1TB of data....
ZippyDSMlee: ggrrrrr......vista lost one of my hard drives and I had a heart attack thinking I lost 1TB of data....
Posted 11/07/09 at 10:58am
JDKJ: Which could be explained by both (a) and (b).
JDKJ: Which could be explained by both (a) and (b).
Posted 11/07/09 at 10:56am
Austin_Lewis: JDKJ: You forgot C) the fact that, for some reason, every time he did something that would suggest he shouldn't be in the military, let alone an officer, higher ups ignored it or let it slide.
Austin_Lewis: JDKJ: You forgot C) the fact that, for some reason, every time he did something that would suggest he shouldn't be in the military, let alone an officer, higher ups ignored it or let it slide.
Posted 11/07/09 at 10:51am
JDKJ: Part of the problem is, I believe, that (a) the Army had a lot of time and money already invested in him and which they were unwilling to simply write-off and (b) an increasing need for the type of skills and services he provided.
JDKJ: Part of the problem is, I believe, that (a) the Army had a lot of time and money already invested in him and which they were unwilling to simply write-off and (b) an increasing need for the type of skills and services he provided.
Posted 11/07/09 at 10:48am
JDKJ: And that even if he was begging not to get cut loose, he was apparently a real good candidate for being cut loose, anyway.
JDKJ: And that even if he was begging not to get cut loose, he was apparently a real good candidate for being cut loose, anyway.
Posted 11/07/09 at 10:11am
JDKJ: @chada: And while Kennedy once noted that there's usually more than enough blame for everyone to get a slice, the possibility that the Army was unwilling to cut loose someone who was asking to get cut loose could be a factor.
JDKJ: @chada: And while Kennedy once noted that there's usually more than enough blame for everyone to get a slice, the possibility that the Army was unwilling to cut loose someone who was asking to get cut loose could be a factor.
Posted 11/07/09 at 10:07am
ZippyDSMlee: *noms on his feet*..nomnomnomnom*droooll* ...wuuutttttt uuu looking at?
ZippyDSMlee: *noms on his feet*..nomnomnomnom*droooll* ...wuuutttttt uuu looking at?
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Game Politics and Game Politics logo are trademarks of the ECA.
Game Politics and Game Politics logo are trademarks of the ECA.
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.