Quote:
Ok, maybe youre not a visual person, let me spell out todays new for you. Sony Corp., the worlds second- largest consumer electronics maker, said it took out an 80 billion yen ($698 million) syndicated loan last week, its first bank borrowing in 10 years, to diversify funding sources. Via Bloomberg.
Dont listen to my negativity though, listen to the dude who runs Ubisoft. In an interview with financial website Bloomberg, Ubisoft president Yves Guillemot noted that despite consumer demand for the upcoming PlayStation 3 console, he believes that Sony will need to cut the price of the platform in 2007 if it hopes to compete with Microsoft and the Xbox 360. Via Gamasutra.
Wow. Even SONY can't afford the PS3!
There's merely more evidence of a mistake I was already harbouring suspicions of.
couldnt you like built a space shuttle with that?
No.
Actually, they're doing it since it's a better way of getting money than buy purchasing bonds. To hear them say it (from Bloomberg.com):
Quote:
Sony tapped the country's expanding syndicated loan market as it offered a cheaper source of cash at a time when investors in corporate debt are demanding higher yields before an expected rise in Japanese interest rates this year. The fund-raising, which ended up bigger than initially planned, offered more flexibility than bonds, said Shinichi Tobe, Sony's spokesman.
This could mean several things, only one of which is negative. The first one: Sony's lacking the money to properly manufacture PS3 systems (this is the negative one). The second: Sony's looking to meet market demands in a quick fashion this winter. The third: Sony's hedging its bets on this and wants to be behind the PS3 100% (in other words, not pulling a Sega).
Conclusion: A large business borrowing money is about as newsworthy as me taking a piss.
Quote:
Conclusion: A large business borrowing money is about as newsworthy as me taking a piss.
News at eleven!
~Nytloc Penumbral Lightkeeper
SONY RAPED MY CHILDHOOD
man what
I'm obviously talking to Castor Troy >=
Quote:
Conclusion: A large business borrowing money is about as newsworthy as me taking a piss
Unless it's broadcasted to an audience. Then it's slightly newsworthy.
At any rate, it's nothing new about a corporation asking for money. In fact, a certain company should do the same and improve it's quality **coughcoughSegacoughcough**.
