ZING!

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Rumors that Sony would counter the recent pricepoint moves by rival Microsoft have been quickly stamped out. Read the rest of this entry »

This move is anticipated to give Microsoft’s console a boost in its currently neck-and-neck race with the PlayStation 3.

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Veddy veddy intevesting.

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Always good to hear the folks at VGL moving forward.

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Maybe that last-day-of-school Halo LAN wasn’t such a good idea afterall.

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Can we just get back to being removed from reality now?

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The Interactive Software Federation of Europe (ISFE) has released data showing that the alleged economic slide has yet to begin affecting the gaming industry, and that the gaming demographic there continues to broaden.

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Perhaps we can finally put the Aerosmith edition behind us?

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You heard it here.

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Look out, XBLA and PSN!

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Find out just what makes their high price tag so special.

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Betheseda seals the deal with one of the brightest video game composers around.

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If you’ve been biding your time for cheaper Rock Band tracks, here’s your chance.

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Just when you thought the parent’s homework policy wasn’t enough.

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GTA IV’s controversy continues to soar across America.

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 Proof that gamers can go outside by choice.

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Different is not always better.

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Nintendo franchises still have some catching up to do.

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Whats more shocking is the previous holder of that title.

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More is better.

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Let’s blame Nintendo.

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All we wanted was a taste of the cake… was that so hard?

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All things considered, it wasn’t on your mind this week anyways.

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Perhaps the PS3 won’t have the last laugh after all?

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Rock Band to get much more than a little Judas Priest.

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Molyneux offers an in-depth insight into problems facing the video game industry and it’s future.

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Subscribers prove that nothing is too early for the internet!

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Having once been thought of as a fad, one relegated to the domain of the acne-riddled nerd, video games continue to come a long way. With the market having surpassed both the motion picture and music industries in finance, few question the validity of the business anymore. The overall socio-political impact, however, remains cloudy.

Video games do not appear to have nearly the same sphere of cultural influence as that of movies and music, specifically. While Mario and Master Chief are very recognizable figures, the actual creators of those games do not hold a candle to the marketability or renown of Matt Damon, Al Pacino, Ridley Scott, David Bowie or Paul McCartney. A growing topic of concern amongst both gamers and the industry itself is the recognition of the entertainment medium as art. Furthermore, there appears to be an expanding desire for a lobbying group to represent the industry’s voice on Capitol Hill in Washington.

With all of this talk of arts and entertainment, societal issues and politics, this begs the economics question, “where is the recession?” If in fact a recession is upon us, and video games are indeed considered a luxury good, why are revenues higher than ever, the stakes in buyouts and mergers ever raised, and growth moving further into record territory, where is this alleged recession?

If there is a recession approaching, or if we are in the middle of one, where is its’ supposed profound impact upon gamers and, accordingly, the video game industry itself?

Apparently, if there’s a recession anywhere around, this industry is either ignorant of that fact, immune to its effects, or the talk of this much-ballyhooed bear market is being greatly exaggerated.

According to more than a few members of the video game industry, Epic would be better suited not joining a games division that some label "a sinking ship".

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The likely merger of MSN and Yahoo!, plus having Epic and Rare in the same development community, would almost certainly have a major impact on Microsoft as we know it.

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A special edition, just for those Aussies.

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EA fights Capcom’s one week plan with a 10 year for game success at retail.

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Beginning on March 27, 2008 in Ogden, Utah, Razer will be a presenting sponsor for each stop of the Video Games Live tour. Razer will be touring with Video Games Live across the country, as well as across its numerous international destinations. 

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Does every publisher have this kind of positive outlook on sales?

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Long story short, folks, Electronic Arts had taken its $2 billion buyout offer directly to the shareholders of Take-Two Interactive, but after today’s rejection of said offer by Take Two’s board of directors, it appears as though any hostile takeover of the firm will be ever more difficult to accomplish.

While Take-Two reiterated what everyone was thinking, that they wanted to wait until after the 29th April release of Grand Theft Auto IV before considering any major deals, the company went a few steps further what appear to be preventative measures against any future hostile takeover attempts. Take-Two shareholders, as a result of these measures, now have more time to contemplate new members of the board of directors, as well as a "poison pill" agreement that will come into affect if a new shareholder buys twenty percent of the company stock or if an existing shareholder purchases another two percent of stock in addition to their current holdings.

For now, at least, it appears as though EA’s attempts to stave off the juggernaut that the Activision/Vivendi merger created have failed.

Story courtesy of the Associated Press:

WASHINGTON - The Bush administration will "do what it takes" to stabilize chaotic markets and minimize the economic damage, Treasury Secretary Henry Paulson said Sunday after a tumultuous week capped by the government rescue of a teetering investment bank.

All eyes now are on Wall Street as leading financial advisers prepared for a Monday meeting with President George W. Bush and the Federal Reserve weighs another deep interest rate cut Tuesday to stem even more deterioration.

Paulson, in a series of news show appearances, defended the Federal Reserve’s extraordinary step Friday to provide emergency financing to one of Wall Street’s most venerable firms, Bear Stearns Cos. The central bank’s intervention was "the right decision," he said.

The treasury chief sidestepped questions about what would have happened if the Fed had not ridden to the rescue, whether other firms are on shaky ground and the possibility of additional bailouts similar to Bear Stearns’.

At the same time, however, Paulson sought to send a calming message that the administration is on top of the turbulent situation. "The government is prepared to do what it takes to maintain the stability of our financial system," he said. "That’s our priority."

Bush planned to meet on Monday with his advisory panel on financial markets, whose members include Paulson and Fed Chairman Ben Bernanke. The panel on Thursday recommended stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of a credit crisis threatening to drive the U.S. into the first recession since 2001.

Consultations about the Bear Stearns situation continued through the weekend and involved the Treasury Department, the Fed, financial institutions and others. "I’ve been very involved, you know, been on the phone for a couple days right now helping to work through this," Paulson said. He offered no details.

Economists increasingly believe the spreading fallout from a severe credit crisis has pushed the U.S. into recession. The situation has led to record-high home foreclosures, forced financial companies to take multibillion losses from bad mortgage-linked investments and rocked Wall Street.

"No one is debating the fact that this economy has slowed way down," Paulson said. "We feel it, we know it, the American people know it."

To help shore things up, the Fed is poised to make a big cut to its key interest rate, now at 3 percent. Some economists are predicting a reduction of one-half a percentage point, while others are calling for a more hefty cut of three-quarters to a full percentage point.

The Fed used a procedure from the 1930’s Depression-era to come to Bear Stearns’ aid along with JPMorgan Chase & Co. Bear Stearns had made a fortune in mortgage-backed securities but faced a possible collapse after those investments soured. Wall Street nose-dived as fears spread about whether other big firms were in jeopardy.

"I really support the Fed’s work here," Paulson said during one of his three broadcast appearances. "To me, this was not difficult because the priority in a time like this has got to be the stability of our financial system and minimizing the likelihood that this disruption spills over into the real economy.

Some critics contend the Fed’s move was akin to a government bailout — something the administration has repeatedly said it is against.

"We’re very aware of moral hazard," Paulson said. "But our primary concern right now — my primary concern — is the stability of our financial system, the orderliness of the markets. And that’s where our focus is," he said.

The financial system, he said, is "more fragile than we would like right now."

Asked whether other financial companies may be in a situation similar to Bear Stearns’, Paulson did not directly answer. He did seek to strike a confident tone. "Well, our financial institutions, our banks and investments banks are very strong," he said. "And I’m convinced that they’re going to come out of this situation very strong."

The government will tackle any other problems that may arise, he said.

"From the beginning I have said, as we work through this period, if this was like other times in the past, there are going to be bumps in the road. There are going to be unpleasant surprises. You are going to find that an institution or so has problems. And when they do have problems, you work to deal with it," Paulson said.

On other matters, Paulson was cool to the need for additional economic stimulus, which congressional Democrats are promoting. A recently enacted aid plan includes tax rebates for people and tax breaks for businesses. Paulson said it should help bolster the economy and produce 500,000 to 600,000 jobs this year.

To Democrats, though, Bush is not doing enough to help.

"We’re in the most serious economic problem we’ve been in in a very long time, much worse than 2001. The president’s hands-off attitude is reminiscent of Herbert Hoover in 1929, in 1930," said Sen. Charles Schumer, a New York Democrat. "There are lots of things that can be done, particularly on housing. Housing has been the bull’s eye of this crisis."

Hoover, a Republican, was president at the time of the Oct. 29, 1929, stock market crash that marked the beginning of the Great Depression in the United States. The following decade was marked by high unemployment and deflation, but brought to power Democratic President Franklin D. Roosevelt in 1933 who introduced the New Deal economic reconstruction program.

House Speaker Nancy Pelosi said, "Much of what the administration has done has been too late."

On the plunging value of the U.S. dollar, Paulson stuck to the position of past treasury chiefs when he said a strong dollar is in the national interest. The dollar has dropped to a new low against the euro and fallen sharply against the Japanese yen. That helps sales of U.S. exports to foreign buyers because it makes U.S. goods less expensive. But the drooping dollar increases inflationary pressures.

Paulson appeared on ABC television’s "This Week," "Fox News Sunday" and "Late Edition" on CNN. Schumer was on Fox and Pelosi on ABC.