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Articles about economic recession

More on Midway’s Chapter 11 filing, bondholders’ objections

by Brian Allen on Feb 13, 2009 at 06:22 PM

Cash-strapped Midway Games couldn’t fight the financial realities any longer, announcing on Thursday (Feb. 12, 2009) it is filing Chapter 11 bankruptcy. The move became a foregone conclusion when Sumner Redstone, who had kept the company afloat with his fortune, ran into financial trouble and had to sell his controlling… Continue Reading »

Hard times at THQ lead to 100 layoffs in mobile division

by Brian Allen on Feb 4, 2009 at 05:20 PM

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Sensory Sweep settles labor claim with its employees

by Brian Allen on Feb 2, 2009 at 08:59 AM

Developer Sensory Sweep (Jackass: The Game and The Tale of Despereaux) stood accused of not paying its 200 employees since October 2008, leading the Department of Labor to get involved and resolve the issue. Now Kotaku reports current and former employees are to be paid through a consent injunction ordered… Continue Reading »

Circuit City video game clearance not very impressive (so far)

by Brian Allen on Jan 24, 2009 at 01:42 PM

With retailer Circuit City giving up the ghost, The Ledger’s Kyle Kennedy decided to check out some of their game clearance items and came away less than impressed. Likewise, I went to my local Circuit City and realized quickly why I have never purchased a game there. A large number… Continue Reading »

Sony expected to report close to $3 billion in losses, restructure

by Brian Allen on Jan 22, 2009 at 07:41 PM

Reuters is reporting that Sony expects to post its first loss in 14 years and it is a whopper. The company expects to lose some $2.9 billion (yes, billion with a “B,” folks) for the year. That’s going to call for huge cost-cutting measures including restructuring. Sony needs to cut… Continue Reading »

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