Sony Hemorrhaged Several Billion Dollars And Is Laying Off 10,000 People From Their Company

Howard Stringer

Sony is losing money at a drastic rate, having hemorrhaged several billion dollars, coming in dead last behind competitors such as Apple and Samsung. The company was battered by hackers who stole everything that wasn't nailed down.

The company has also been hit by many copyright infringement, patent infringement and trademark infringement lawsuit, for the blatant and criminal theft of other people's intellectual property. As a result of all the disfavor and financial deterioration, Sony will be laying off 10,000 people.

If they would focus on actually trying to come up with something original, rather than stealing everything under the sun, companies such as Apple, Samsung and Nintendo would not be trouncing them in the marketplace.

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STORY SOURCE

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The 1.5 Million CDs Lost In Sony London Fire Are Not Covered By Insurance

CDs, DVDs, Blu Ray, Vinyl And Equipment Burned To A Crisp

Sony CEO Howard Stringer

Reports indicate the 1,500,000 CDs and an as yet unnumbered amount of DVDs, stored in the Sony warehouse in Canning Town, London that was torched in a massive blaze this week, are reportedly not covered by insurance, due to the incident having transpired during riots.

A large number of blank discs Sony uses to make CDs, DVDs and Blu Ray products, were also incinerated in the fire, resulting in a shortage. Firefighters have battled the blaze for three days, as they've been dismantling the large, charred building, to reach a segment of the structure that is still emitting smoke. Three teens were arrested yesterday in connection with the blaze.

Sony has been having a very difficult time with insurance adjusters of late. Case in point, after a collective of hackers completely hacked the Sony websites, stole financial and personal data of 100,000,000 customers, creating billions in losses for the company, their insurance company sued, stating they are not paying Sony, as the incident occurred due to their negligence and poor security practices.

It was later revealed, Sony kept customers' valuable financial data and personal information on unencrypted servers, containing outdated firewalls and next to no security. They had the funds to provide good security, but Stringer's cockiness and cheapness in cutting corners caught up with the company.

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STORY SOURCE

Fire Destroys U.K. Record Distribution Center, Millions Of CDs Lost

4:40 pm August 9, 2011 - ...Collinson adds that he's unsure whether Ninja Tune's insurance will cover the damage. "Riot damage normally isn't insured," he says.

http://www.npr.org

Seriously, Who Burned Down The Sony Building In London

Well, Don't Look At Me

"Firestarter" movie

Who burned down the Sony warehouse in London, England. You would think it was me, based on my other worldly rage towards them for stealing copyrights from me, as they have done to others, but it wasn't. Well, unless I have developed some dormant "Firestarter" ability that flares up when I'm angry. Just kidding and I was nowhere near England when the warehouse was torched.

However, I'm wondering out loud, due to the fact the Sony warehouse is not near the epicenter of the riots, meaning it was clearly targeted for destruction - and destroy it they did. The building was completely burned to the ground. Sony has become one of the most hated companies in the world, having made so many enemies, from writers to software developers they've criminally stolen copyrights and patents from to hackers they've upset in targeting GeoHoltz. So seriously, who did it.

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Sony CEO Howard Stringer

Sony is having a terrible year. The company's plants in Japan were seriously damaged by an earthquake and ensuing tsunami, hackers hacked many of their websites into a non-working state, whilst stealing 100 million customers financial and private data from their servers, which created massive financial loss, later reflected in their significant decrease in revenues.

If all that wasn't enough, a Sony distribution center in Canning Town, East London, was set on fire by people rioting for the fourth night in a row. For Sony, when it rains it pours. Beside News Corp, the Judiciary Report can't think of a company with more misery and trouble right now.

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Sony's Wishful Thinking

Sony CEO Howard Stringer

Beleaguered and battered Sony stated "Hopefully last year is as bad as it gets." Don't hold your breath. Your butt kicking has just begun. You will get your butt handed to you again this year.

Sony: "Hopefully last year is as bad as it gets"

Thursday 9-Jul-2009 12:30 PM 2009 is going better than 2008 says SCE boss Jack Tretton

Sony Computer Entertainment president Jack Tretton has spoken of fiscal 2008 as "a very challenging period of trying to sell future technology."

Tretton told Fast Company that Sony had successfully met its PlayStation 3 sales target during the last financial year, but he also noted the difficulty of pushing a high-end device at a time when consumers were being particularly cost-conscious.

"Hopefully last year is as bad as it gets. I think all indicators are that 2009 is going better than 2008. In 2008, we had a 38 per cent increase in sales and we hit our ten million units worldwide goal for PS3 sales... At the worst possible time, if you're hitting numbers and delivering success... my hope is that as our production efficiencies improve and more great games come to market, the horizon has got to be better for 2009 and 2010.

"It's like being out there in a storm - it does cause you to question your conviction, and tie yourself to the mast and weather the storm," he added...

http://www.computerandvideogames.com