Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

December 4, 2008 -

It's a good thing that Strauss Zelnick is so good at running media companies.

Because he'd never make it as a financial analyst.

Reuters reports on the Take-Two head's somewhat obtuse view of the current global financial meltdown. Zelnick made his remarks at the Reuters Media Summit:

I don’t think we’re in a financial crisis.

 

The use of the word crisis — I’m loathe to be critical of the media since I’m every bit a part of the media — but I don’t think the word has been especially helpful. We’re obviously in a recession and these are very very trying times.

Zelnick then pushed the metaphorical envelope with this bit of imagery:

We’re still seeing the car crash, and the ambulances are still showing up at the scene. Maybe we’re in the emergency room, but we’re not even in the intensive care unit yet for a lot of these companies. But they will get there.

A separate Reuters report offers the Z-man's take on how the game biz is weathering the current financial crisis ...oops, "very, very trying times":

I think everyone was encouraged by Black Friday. It was better than expectations, but it's pretty hard these days -- being slightly down is the new up.


Comments

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

Google said the same thing, but they went down from $700 per share to just over $200 a share within one year.

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

Their not going to have a great year next year, simply because they don't have a lot out. GTA (DLC) and GTA China Town Wars is basically it for them, and their NBA games are going to do okay as they have for the past few years but thats it, if anyone wants to remind me of other games 2K has next year.

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

He's absolutely correct.  A good portion of this recession can be laid at the feet of the scare mongering media.

Recession?  Absolutely.  Depression?  Getting there.  Crisis?  Having nukes pointed at us from a country close enough to sail to on a make-shift raft is a crisis.  Having your 401-k lose a good chunk of money you never really had is NOT a fucking crisis.  It's plain ignorance.  Congress is just fucking a football if they think spending money they don't have to save businesses that are going to fail anyway is a solution. 

http://consumerist.com/5101440/2008-bailout-costs-as-much-as-several-large-and--famous-government-projects-combined

The scope of their ridiculous 'solution.'

You want a root cause of this financial turmoil?  Stop ignorantly blaming GW Bush and write some letters to your Congress members.  They are the cause.

~~All Knowledge is Worth Having~~

~~All Knowledge is Worth Having~~

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

Tough to argue with, and I actually agree with everything you said.  Blaming GW for it all is kind of like firing the coach when the team sucks; the fans feel better temporarily but it doesn't really help your team that much.  I'm very anti-bailout myself for the reasons you mentioned, plus on the moral side, it just seems to reward the undeserving.

"There is no sin except stupidity." - Oscar Wilde

"De minimus non curat lex"

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

He should've added some hookers and an uzi to that car-crash metaphor to turn it into a GTA ad.

"It's like, the economy is Lance Vance, and it's bleeding out in the garbage dump.  Now, Lance hasn't seen Tommy Vercetti yet, but he will, and then the two of them will go murder Diaz and take over Vice City for a while.  What I'm saying is, the economy is going to betray us to Sonny and we're going to have to kill it to preserve our assets.  Where's my chaingun?"

---
The Mammon Industry

---
Fangamer

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

This is only 'not a crisis' if we compare it to the Wall Street Crash of 1929 (and it could still be that major - the Wall Street Crash took three years to hit bottom).  Compared to everything else, this is a huge crisis.

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

"The use of the word crisis — I’m loathe to be critical of the media since I’m every bit a part of the media — but I don’t think the word has been especially helpful. We’re obviously in a recession and these are very very trying times."

I happen to agree with this sentiment. I don't think the use of the word "crisis" (or "meltdown" or "depression" or any of the other overblown terms) has been especially helpful. It creates fear in people and causes them to cut back more than they normally would or more than is necessary, which then causes a domino effect within the economy. If the media made it a point to simply present the facts without making it sound like the score in the latest football game we'd probably all be better off.

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

He's right, crisis is a buzz word.

 

Not only are we not in a resseseccion (2 consecutive quarters of negetive GDP growth) until the end of this quarter, I have never heard the Carter years (stasticly much worse then the present) called a crisis.

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

Well, maybe for him there is no Financial Crisis, but for us, we are pretty screwed... I wanted to buy a PS3 and some games, but with the dollar price falling and everything else rising as a rocket, I´ll have to wait even more.

Thanks, George Bush, you screwed my Christmas... :(

 

Somewhere in Miami:

JACK THOMPSON: NOOOOOOOOOOOOOOOO!!!!! I´ll destroy you Zelnick, I swear to God your soul will be mine!!! AAAAAAAAGH!!!!!! Vidjagamez are EV1lZZZ!!!! ILL SUE YOU AAAAAALL IM A LOWL PERSON!!!!

Costumer: Sir, where is my damn BigMac? I´ve been asking it to you for 20 minutes!

JACK THOMPSON: Quiet, moron gamer!, I´m bitching on my column at HumanEvents about random conservative facts that normal people don´t care!

Kid Costumer: Can I haz my Happy Meal, sir?

JACK THOMPSON: OMG! A gamer! Please, don´t kill me!!! (soils his pants)

Random Lady: Oh God, that´s awful!!!

CSI Miami Intro: YEAAAAAAAAAAHH!!!!!

 

The cynical side of videogames (spanish only): http://thelostlevel.blogspot.com/ My DeviantArt Page (aka DeviantCensorship): http://www.darkknightstrikes.deviantart.com/

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

LMAO!  I wonder how the rest of the show would turn out.

--- Official Protector of Videoland!

--- Official Protector of Videoland!

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

Jack and Horatio fight on a rooftop, and Jack shoots himself on his foot. Then Jack jumps from the building in waiting to be saved magically by Jesus. But Jack survives, because he fell on a truck loaded with manure. :(

Then Jack tries to sue Jesus and turns to the islam and blames videogames and Obama. CSI Miami cast do a colective facepalm at the end of the episode :(

The cynical side of videogames (spanish only): http://thelostlevel.blogspot.com/ My DeviantArt Page (aka DeviantCensorship): http://www.darkknightstrikes.deviantart.com/

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

LOL, seriously though, i don't wish harm on JT, but JT always seem to bring pain to himself.... i feel bad (ALMOST) for JT for losing his licesnce to ramble about violent video games

Jesus Jack Jones Thompson.... is dead... (funeral udruge, followed by Celebrate :D )

Jesus Jack Jones Thompson loves you, so kill for his amusement so we can get money for the new "People's Temple of Jesus Jack Jones Thompson"

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

Strauss Zelnick isn't wacky, he's a genius!

--- Official Protector of Videoland!

--- Official Protector of Videoland!

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

His positive outlook is good. It's good to be optimistic.

of course someone will be in soon to claim Take Two is going down thanks to him, of course giving past predicitons, Take Two will be fine,.

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

I thought Zelnick will be worried, unless that GTA4 DLC and GTA4 (for PC) sell well they are gonna have problems. As it stands, I heard problems are very bad on GTAIV PC. I say he is in a crisis, not much looking forward besides this DLC and relations with PC owners are damaged yet again from the buggy release.

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

 Yeah, GTAIV-PC has higher requirements than Crysis. Har har

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

I like his positive outlook.

oops didn't mean to reply to you, but to the thread.

 

lol

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

I think it is better you did it this way, because it just shows how wacky this guy is.  Positive, but definitely a bit wacky, and not really seeing all the job losses happening, though T2 will prolly have to make cuts here soon.

Nido Web Flash Tutorials AS2 and AS3 Tutorials for anyone interested.
How to set Xbox 360 Parental Controls

 

Nido Web Flash Tutorials AS2 and AS3 Tutorials for anyone interested.
How to set Xbox 360 Parental Controls

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

That is a terrible metaphor the way he's trying to use it to make his point, given that being in ICU is when recovery is supposed to begin.

The car crash is what would be considered the crisis if he were using his metaphor more sensibly.

Re: Take-Two's Zelnick: Financial Crisis? What Financial Crisis?

If it isn't Strauss.

Needs more 1u1z. Therefore, needs more Jack.

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