Serves the fuckers right for the crap they're pulling with the DRM on the games they publish. | |
Thats for sure. Better start cranking out some new, good, games before you go even lower. | |
Hold up! What's this "Consumer's confidence couldn't be higher" bullshit? EA's reputation is piss-poor to begin with, and with the SecuROM and Spore fiascos, what little support they had is failing. Consumer confidence is high, for sure... We are confident that EA will be bankrupt this time next year, and someone else will pick up the worthwhile IP for a pittance and a song. | |
I'll start believing in EA when they fire the entire senior management staff and bring Trip Hawkins back. | |
I wonder if his stock broker advised him that his purchase was a bad investment... | |
His stock broker was at home, cursing the DRM of his EA games and decided to let the fucker waste his money. He probably told the customer support department just to lie to the man. If he had a clue just how much the public despise EA, he might kill himself. | |
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EA CEO Buys Over $1 Million in Company Stock
Faced with stumbling stock prices, fiscal loses and dwindling investor confidence, EA CEO, John Riccitiello, takes a stand.
With company shares having dropped 17% since their Q2 performance report one week ago and the Wall Street Journal suggesting that the House of Mouse pick them up on the cheap, EA CEO, John Riccitiello, took action today by purchasing 42,500 shares in his own company at a cost of USD $1.04 million. This brings the chief executive's piece of EA to 89,794 shares, which adds up to about $2 million or .03 percent of EA's total shares.
The purchase is intended to usher forth renewed investor confidence in the industry giant at a time when consumer confidence in EA couldn't be higher with games like Rock Band 2, Mirror's Edge and Dead Space this holiday season. EA has taken some bold new steps in the in year following the return of Riccitiello as CEO of the company, but with these steps also comes great risks and investments at a time when being less bullish is the key to surviving. It was only a week ago that EA announced a sizeable loss of $310 million, along with a six percent layoff of their workforce.
While there are many factors at play as to why this happened (Riccitiello points out the unexpected delay of the latest Harry Potter title as one), for the industry, these are just more signs of cracks appearing in the hull of the U.S.S. Recession Proof.
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