Game Politics ([info]gamepolitics) wrote,
@ 2006-01-29 12:57:00
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Entry tags:eibeler, hot coffee, kaczynski, rockstar, take two

Take Two Meltdown?

FOR SALE:

Badly mismanaged video game corporation with good IP assets. Some travel required (Federal Trade Commission hearings in Washington D.C. and lawsuit defense in Fayette, Alabama); must be prepared to clean house. $15 per share or best offer. Owner must sell!! Call 1-800-TakeTwo. Ask for Paul...


Between the acrimonious departure of director Barbara Kaczynski and the company's being named to Business 2.0's list of 2005's 101 Dumbest Moments in Business, it has been a bleak few days for Take Two, but we didn't realize just how bad things were.

Citing a New York Post report, Kotaku reports that the Grand Theft Auto publisher is looking for a lifeline in the form of a buyout.

An unnamed "source close to the company" told the Post, "For a fund, it is a bet that the cash flows from sales of Grand Theft Auto: San Andreas and Liberty City Tales, and new management could get around the growing liabilities."

As Kotaku points out, "The geniuses running the company have managed to burn through $200 million in cash in the past year, leaving just $100 million. This week, an analyst also rated the stock a 'sell'..."

MarketWatch has more on Take Two's financial straits.




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[info]jaykaos
2006-01-29 06:30 pm UTC (link)
Jack's gonna have a field day on this one, I wouldn't be surprised if this is what gets him to make a LiveJournal account...

(Reply to this) (Thread)


[info]ianc14
2006-01-29 06:32 pm UTC (link)
He already did, then deleted it after making two smart ass comments.

Or should that be dumb ass?

(Reply to this) (Parent)(Thread)

where was this? - [info]cecil475, 2006-01-29 10:15 pm UTC
He'll have a field day with anything - [info]timed95, 2006-01-29 06:56 pm UTC
Laugh
[info]andrew_eisen
2006-01-29 06:32 pm UTC (link)
Badly mismanaged video game corporation with good IP assets. Some travel required (Federal Trade Commission hearings in Washington D.C. and lawsuit defense in Fayette, Alabama); must be prepared to clean house. $15 per share or best offer. Owner must sell!! Call 1-800-TakeTwo. Ask for Paul...

Brilliant! That's really funny.


Andrew Eisen

(Reply to this)


[info]zerochan
2006-01-29 06:33 pm UTC (link)
At this rate I sincerely hope they choke and die. No matter how you look at it, Take-Two has done everything to bring this upon themselves, and the current political shitstorm is mostly the result of their idiocy. They've practically handed people like Jack ammunition for their once-feeble cause.

(Reply to this) (Thread)


[info]sprngpilot
2006-01-29 06:36 pm UTC (link)
While I do agree with you, I loathe the inevitable statements from Jack Thompson claiming credit for the company's downfall.

(Reply to this) (Parent)

(Reply from suspended user)
Re: Jack Thompson here - [info]cecil475, 2006-01-29 10:20 pm UTC
Reality - [info]kharne83, 2006-01-29 10:27 pm UTC
Holy smokes!
[info]timed95
2006-01-29 06:43 pm UTC (link)
I am so buying a couple shares!

(Reply to this) (Thread)

(Reply from suspended user)
Re: Speaking of Buying Take-Two Shares... - [info]cecil475, 2006-01-29 10:35 pm UTC
Back for the masturbation eh? - [info]timed95, 2006-01-29 11:06 pm UTC
Hmmm, Rockstar should quickly look for another publisher.
[info]doggyspew
2006-01-29 06:46 pm UTC (link)
One that isn't so chaotic.

(Reply to this) (Thread)

Re: Hmmm, Rockstar should quickly look for another publisher.
[info]zerochan
2006-01-29 06:49 pm UTC (link)
After all the shit that's been going on, I can't understand how any publisher that's remotely SANE would touch them.

Of course, I'm secretly hoping in my jaded, bitter little heart that GTA will die a horrible bloody death and people will actually start realizing that violence in games doesn't have to be lacking in a moral dimension. See: Sega's Ryuu ga Gotoku.

(Reply to this) (Parent)(Thread)

Re: Hmmm, Rockstar should quickly look for another publisher. - [info]andrew_eisen, 2006-01-29 06:57 pm UTC
Re: Hmmm, Rockstar should quickly look for another publisher. - [info]psyco_chick32, 2006-01-30 07:37 am UTC

(Deleted post)
No, You dont get it! - [info]ianc14, 2006-01-29 10:14 pm UTC
Re: No, You dont get it! - [info]semperar, 2006-01-30 02:30 pm UTC
Re: No, junior, you don't get it.... - [info]angry_man, 2006-01-29 10:21 pm UTC
I hate it when he calls people that. - [info]doggyspew, 2006-01-30 10:04 am UTC
Don't hate T2
[info]ericseiler
2006-01-29 06:58 pm UTC (link)
Wait until the truth comes out which at this point seems to be inevitable. Most of the company had no say in how 'Hot Coffee' was handled, nor are responsible for handling development and marketing budgets. That is like saying everyone who ever worked at Enron were bad people, or just because they had some pretty dodgy upper management that they deserved what they got.

(Reply to this) (Thread)

(Deleted post)
Re: Wake up there, kiddo... - [info]ericseiler, 2006-01-29 09:37 pm UTC
Re: Wake up there, kiddo... - [info]dutch_gamer, 2006-01-29 09:56 pm UTC
Re: Wake up there, kiddo... - [info]riffraff1138, 2006-01-29 10:01 pm UTC

[info]boredalot
2006-01-29 07:00 pm UTC (link)
"Liberty City Tales"?

In the words of Neil Bauman: "Lol!"

(Reply to this) (Thread)


[info]joshdavis271
2006-01-30 05:06 am UTC (link)
tales, stories, same thing.

(Reply to this) (Parent)


[info]elfuegocaliente
2006-01-29 07:15 pm UTC (link)
Given the opportunity(translation: if I had the cash), I'd buy the company. I think they've got too many good properties and development teams. They money their stuff rakes in is just too great. The current management is being god damn morons with how they're handling things, though... and therein lies their problem.

(Reply to this)


[info]defendership
2006-01-29 07:18 pm UTC (link)
Really pretty amazing that Take Two would end up like this. It's been said that "there's no such thing as bad publicity" or bad press or something to that effect, but it clearly hasn't worked out for them that way.

(Reply to this)

A change of management could be odd...
[info]illspirit
2006-01-29 07:20 pm UTC (link)
Seeing as R* is wholly owned by T2, they can't just wander off on their own. So if T2 goes down (or just sells R* + GTA), R* may find themselves taking, erm, creative input from above.

That said, there's really only 3 or 4 publishers with the loot to pull off a takeover. And of those, I did a photochop of the potential outcomes of one...

http://illspirit.com/GTA4.jpg
(copy/paste the link, I have leechblocking on my server)

(Reply to this) (Thread)

Re: A change of management could be odd...
[info]ericseiler
2006-01-29 07:26 pm UTC (link)
Try photobucket:

http://www.photobucket.com/

It is free, and mostly painless to use.

-Eric

(Reply to this) (Parent)

That's a scary thought.... - [info]phoenixzero, 2006-01-29 07:39 pm UTC
Re: A change of management could be odd... - [info]automancer, 2006-01-29 08:40 pm UTC

[info]angry_man
2006-01-29 07:24 pm UTC (link)
Eh, my take on this (no pun intended) is that even if JT does have a field day with this, I'm not going to be shedding any tears for Take-Two. The whole political shitstorm was mishandled so badly that we're starting to fight an uphill battle against video game legislation (although I'm probably angrier at Rockstar then I am at Take-Two. Take-Two has just looked like a befuddled and confused teenager throughout this whole mess).

(Reply to this) (Thread)

(Deleted post)
Re: Thanks for the endorsement... - [info]l0que, 2006-01-29 09:43 pm UTC
Re: Thanks for the endorsement... - [info]riffraff1138, 2006-01-29 09:46 pm UTC
Re: Thanks for the endorsement... - [info]angry_man, 2006-01-29 10:03 pm UTC
Re: Thanks for the endorsement... - [info]dutch_gamer, 2006-01-29 10:07 pm UTC
Re: Thanks for the endorsement... - [info]angry_man, 2006-01-29 10:11 pm UTC
Re: Thanks for the endorsement... - [info]hilaryduffgta, 2006-01-29 10:11 pm UTC
Re: Thanks for the endorsement... - [info]sqlrob, 2006-01-29 10:14 pm UTC
any accounting help?
[info]jabrwock
2006-01-29 07:45 pm UTC (link)
The geniuses running the company have managed to burn through $200 million in cash in the past year, leaving just $100 million.

Can someone clear this up for me? I just looked at their 2005 financial statement released to the SEC, and it only shows a loss of $50 mil in cash since last year, leaving $100 mill...

(Reply to this)

we'll see what happens
[info]hilaryduffgta
2006-01-29 07:45 pm UTC (link)
Given that they brought this on themselves for lying about hot coffee and i would love to see take two and rockstar survive this but with ever politician going after them.The really sad thing about this whole hot coffee crap is once rockstar and take two are gone and finished with no one is gonna care about whats in video games anymore because a lot of game companies are not as big as rockstar.well im glad i bought my gta's when i did


later

(Reply to this)

Eh...
[info]nintendite
2006-01-29 07:48 pm UTC (link)
I could care less. I don't own a single Rockstar or T2 game and I never plan on it.
It doesn't shock me that good old Jack decided to leech onto this situation though. After all, that's what bottom feeders do.

(Reply to this) (Thread)

(Deleted post)
Re: Leech? - [info]angry_man, 2006-01-29 10:07 pm UTC

[info]skrunchster
2006-01-29 08:05 pm UTC (link)
Meh. They'll just hold out for a little longer, and then the next GTA will save 'em. But I couldn't care less what happens to Take2.

(Reply to this)

Take-Two will be just fine, stop exaggerating...
[info]monkeyincorner
2006-01-29 08:27 pm UTC (link)
Many screwups but they have a ton of great games to buoy them through, each GTA games generates something like $200 million of free cash flow. While their management may be inept at managing the business, they still have some of the best developers in the industry. Rockstar, Firaxis, Visual Concepts, and lately Irrational Games. The $200 million didn't just burn in thin air, they established a new presence in the sports market, got a MLB exculsive license, and renewed NBA and NHL licenses, bought Visual Concepts and Kush games from Sega. They also bought Indie Built (Amped/Links/TopSpin developer) from Microsoft. They recently acquired Civilization and the studio behind it, Firaxis and the makers of Bioshcok, FreedomForce, and SWAT (Irrational Games) so it's not fair to throw in comments like burn through $200 million in cash without qualifying it. Take-Two will be bigger and stronger once these clouds pass, and they will pass.

(Reply to this) (Thread)

Re: Take-Two will be just fine, stop exaggerating...
[info]hilaryduffgta
2006-01-29 08:31 pm UTC (link)
true that the clouds will pass and hopefully rockstar and take two will come out of this but everyone is still gonna go after them until they have put them out of business

(Reply to this) (Parent)

(Deleted post)
Re: Take-Two will be just fine, stop exaggerating... - [info]shatterjack, 2006-01-29 09:43 pm UTC

(Deleted post)
Hey jack delete your account again
[info]hilaryduffgta
2006-01-29 09:06 pm UTC (link)
Hmm yea gee thank you for that wonderful press release that i could rip apart right now but im busy playing gta san andreas.Just running around and Killing cops in the game so im gonna head back to that now.


whats next jack you gonna say it will be illegal to own any copy of Grand theft auto regardless if you are adult?

See you later scumbag

(Reply to this) (Parent)(Thread)

(Deleted post)
Yawn - [info]hilaryduffgta, 2006-01-29 09:21 pm UTC
Re: Yawn - [info]shatterjack, 2006-01-29 09:37 pm UTC
Re: Yawn - [info]hilaryduffgta, 2006-01-29 09:41 pm UTC
Re: Yawn - [info]shatterjack, 2006-01-29 09:58 pm UTC
Re: Yawn - [info]hilaryduffgta, 2006-01-29 10:04 pm UTC
Re: Hey jack delete your account again - [info]pixelante_ninja, 2006-01-29 09:22 pm UTC
Re: Hey jack delete your account again - [info]ianc14, 2006-01-29 09:51 pm UTC
Why am I not surprised... - [info]riffraff1138, 2006-01-29 09:10 pm UTC
Re: Why am I not surprised... - [info]hilaryduffgta, 2006-01-29 09:12 pm UTC

(Reply from suspended user)
Re: Why am I not surprised... - [info]riffraff1138, 2006-01-29 09:26 pm UTC
Re: Why am I not surprised... - [info]hilaryduffgta, 2006-01-29 09:29 pm UTC
Re: Why am I not surprised... - [info]so_sorry810, 2006-01-29 10:24 pm UTC
Re: Why am I not surprised... - [info]hilaryduffgta, 2006-01-29 10:45 pm UTC
Re: Why am I not surprised... - [info]so_sorry810, 2006-01-29 10:49 pm UTC
Re: Why am I not surprised... - [info]hilaryduffgta, 2006-01-29 10:53 pm UTC
Re: Why am I not surprised... - [info]fvza_colonel, 2006-01-29 11:00 pm UTC
Re: Hey, Pixelantes: Kiss Rockstar Good-Bye - [info]pixelante_ninja, 2006-01-29 09:19 pm UTC
Jack like George - [info]hilaryduffgta, 2006-01-29 09:22 pm UTC
Re: Jack like George - [info]evilfish28, 2006-01-29 10:08 pm UTC
Re: Jack like George - [info]hilaryduffgta, 2006-01-29 10:12 pm UTC
Re: Jack like George - [info]evilfish28, 2006-01-29 11:14 pm UTC
Re: Jack like George - [info]hilaryduffgta, 2006-01-29 11:19 pm UTC
Re: Hey, Pixelantes: Kiss Rockstar Good-Bye - [info]dutch_gamer, 2006-01-29 10:27 pm UTC
Re: Hey, Pixelantes: Kiss Rockstar Good-Bye - [info]mooglegunner, 2006-01-29 09:25 pm UTC
Re: Hey, Pixelantes: Kiss Rockstar Good-Bye - [info]shatterjack, 2006-01-29 09:34 pm UTC
Yes but remember to Jack "racist" thompson - [info]hilaryduffgta, 2006-01-29 09:37 pm UTC
Re: Hey, Pixelantes: Kiss Rockstar Good-Bye - [info]angry_man, 2006-01-29 09:56 pm UTC
Umm... Jack...? - [info]betasword, 2006-01-29 10:12 pm UTC
Re: Hey, Pixelantes: Kiss Rockstar Good-Bye - [info]dutch_gamer, 2006-01-29 10:14 pm UTC
Re: Hey, Pixelantes: Kiss Rockstar Good-Bye - [info]hilaryduffgta, 2006-01-29 10:16 pm UTC
Re: Hey, Pixelantes: Kiss Rockstar Good-Bye - [info]jdmdsp911, 2006-01-30 01:23 am UTC
I wonder...
[info]betasword
2006-01-29 09:42 pm UTC (link)
If Jack keeps on deleting and re-opening his LJ account, just so he can keep up with his hit-and-run posting tactics, I wonder... Does that go against the Live Journal Terms of Usage? I'm gonna have to check that out. Maybe, due to his own actions, he could be banned from Live Journal usage altogether. Maybe even banned from seeing them. Now that would be interesting.

Anyways, on subject... Something about that "For Sale" thing seems to be a bit... Fakey. It almost seems like it could be some sort of satire, or something faked by one of their many enemies to try and damage them more. Now, I'm definitely not for some of their business practices (you have to admit, the whole Hot Coffee thing WAS idiotic), but I still don't see how they're peddling "porn". I mean, according to my handy dictionary, anything that's made to create some sort of emotional response could be considered "porn". Unfortunately, those that are throwing this term around willy-nilly aren't taking that into account. They're trying to cause an emotional reaction themselves, using the fact that most people consider "porn" to be that bad stuff that's behind the counter with the covers over it.

But yeah, that's all I have to say for now.

(Reply to this) (Thread)

im sure i will sound like a broken record
[info]hilaryduffgta
2006-01-29 09:44 pm UTC (link)
apparently they are "Peddiling Porn" because the only video gamers are children between the ages of 2 and 7 years old

(Reply to this) (Parent)(Thread)

Re: im sure i will sound like a broken record - [info]betasword, 2006-01-29 09:52 pm UTC
Re: im sure i will sound like a broken record - [info]hilaryduffgta, 2006-01-29 09:54 pm UTC
Re: im sure i will sound like a broken record - [info]betasword, 2006-01-29 10:03 pm UTC
Re: im sure i will sound like a broken record - [info]hilaryduffgta, 2006-01-29 10:05 pm UTC
Re: I wonder... - [info]beardoggx, 2006-01-29 11:41 pm UTC
Hmm...
[info]pixelante_ninja
2006-01-29 09:57 pm UTC (link)
I wonder if Jack had any money left if he would buy the company. Not to run it, but just to destroy it, I don't know how much money he would lose but I just wonder if he would be that devoted to his vendetta against the game industry to spend a good amount of money to destroy his enemy. Well, at the end of the day it doesn't matter as he's living off his wife's salary.

(Reply to this) (Thread)

Re: Hmm...
[info]hilaryduffgta
2006-01-29 10:00 pm UTC (link)
of course he would spend as much of his wife's money as he could to continue this crap.after all remember his Need to become famous is more important then his family

(Reply to this) (Parent)

Re: Hmm... - [info]betasword, 2006-01-29 10:13 pm UTC
Re: Hmm... - [info]hilaryduffgta, 2006-01-29 10:17 pm UTC
Re: Hmm... - [info]pixelante_ninja, 2006-01-29 10:23 pm UTC
Re: Hmm... - [info]psyco_chick32, 2006-01-30 07:47 am UTC
I don't get it...
[info]ericseiler
2006-01-29 10:21 pm UTC (link)
Is Jack deleting all of his posts or is Dennis?

(Reply to this) (Thread)

Re: I don't get it...
[info]ianc14
2006-01-29 10:32 pm UTC (link)
Most probably Dennis, but Jack could be doing to make up that Dennis is censoring him.

(Reply to this) (Parent)(Thread)

Re: I don't get it... - [info]l0que, 2006-01-29 10:35 pm UTC
My call - [info]gamepolitics, 2006-01-29 10:38 pm UTC
Re: My call - [info]riffraff1138, 2006-01-29 10:40 pm UTC
Re: My call - [info]viridiscervus, 2006-01-30 02:00 am UTC
Re: My call - [info]ericseiler, 2006-01-29 10:44 pm UTC
Re: My call - [info]hilaryduffgta, 2006-01-29 10:46 pm UTC
Re: My call - [info]timbickley, 2006-01-29 10:47 pm UTC
Re: My call - [info]hilaryduffgta, 2006-01-29 10:49 pm UTC
Re: My call - [info]ericseiler, 2006-01-29 10:53 pm UTC
Re: My call - [info]hilaryduffgta, 2006-01-29 10:55 pm UTC
Re: My call - [info]timbickley, 2006-01-29 10:56 pm UTC
Re: My call - [info]gamepolitics, 2006-01-29 11:05 pm UTC
Re: My call - [info]pixelante_ninja, 2006-01-29 11:40 pm UTC
Rejoice - [info]kharne83, 2006-01-30 12:33 am UTC
Re: My call - [info]psyco_chick32, 2006-01-30 07:48 am UTC
I don't think he gets it...
[info]ace_ofspade
2006-01-29 10:32 pm UTC (link)
Image hosting by Photobucket

(Reply to this) (Thread)

Re: I don't think he gets it...
[info]ericseiler
2006-01-29 10:35 pm UTC (link)
I love this! It should be used in every response to Jack.

-Eric

(Reply to this) (Parent)

I"m not worried.
[info]kurisu7885
2006-01-29 10:34 pm UTC (link)
Odds are the game licenses will be sold off to other companies to keep the franchises going, and, well, other companies would be damn foolish not to snatch up the multi million dollat Grand Theft Auto liscense. CAPCOM publishes it in Japan, so, meh, why not, or, Electronic Arts might buy it out, I mean, they're problably sore after that hostile takeover of Ubisoft failed.

(Reply to this)

Oh, and Jack....
[info]kurisu7885
2006-01-29 10:36 pm UTC (link)
As thato ther user said, we don't care what you have to say. Oh, and what a surprise, you had to mention your name, which will become a swear word among gamers and the industry, and even more of your exploits. Hmm, I wonder how people would react if you rantign about that gamer who commited suicide ever went public. Woops, they already have.

(Reply to this)

The truth about the 355-21 vote.
[info]andrew_eisen
2006-01-29 11:05 pm UTC (link)
The U.S. House of Representatives voted 355-21 in asking the Federal Trade Commission to whack Take-Two for the fraud. - Thompson

Um, no. They voted 355-21 to support an FTC inquiry into Take-Two to determine if the company attempted to deceive the ESRB by hiding the Hot Coffee content.

Just so everyone’s clear and doesn’t think that the vote can be used as ammo in an argument against Take-Two or the game industry.


Andrew Eisen

(Reply to this) (Thread)

Re: The truth about the 355-21 vote.
[info]psyco_chick32
2006-01-30 07:53 am UTC (link)
Thank you, I was a little confused. I was wondering how the House could just vote to get rid of a company, right there. I thought it might interfere with the whole free-trade, do-what-you-want-as-long-as-it's-within-our-laws" thing. And fraud is bad, but a lot of companies commit fraud and are still around. They just pay out the butt for damages and stuff like that.

(Reply to this) (Parent)(Thread)

Re: The truth about the 355-21 vote. - [info]praetorfenix69, 2006-01-31 05:39 pm UTC
Well Well, he's back
[info]mrpat___
2006-01-29 11:20 pm UTC (link)
I've missed you Jack, good to see you have a livejournal account now; maybe you'll put it to better use than your old 1up account. Speaking of 1up, I posted our entire email discussion on my 1up page (http://visc.1up.com), for all to see how you neglected yet another charity option, you know, because I'm deceitful or something to that extent.

By the way, not that you have a LJ account, how about you put it to better use and start posting your statements and emails there instead of here? I don't have a problem adding another page to my read list, and I'm sure you'd get all the attention you could possibly want.

Buhbye now.

(Reply to this) (Thread)

Re: Well Well, he's back
[info]mrpat___
2006-01-29 11:23 pm UTC (link)
that should be now* that you have one, not not*

(Reply to this) (Parent)(Thread)

Re: Well Well, he's back - [info]evilfish28, 2006-01-29 11:34 pm UTC
Re: Well Well, he's back - [info]jerico6, 2006-01-30 04:25 am UTC

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