There was no immediate word on how many jobs the Sony Corporation will be cutting stateside as a result of their mass layoff announcement today. Here is MarketWatch with the story:
Sony Corp is planning to cut its worldwide workforce by about 10,000, or by 6%, with the layoffs coming by the end of the year, according to a report in the Nikkei newspaper on Monday. Seven senior managers, including Chairman Howard Stringer, are expected to give up their bonuses for fiscal 2011, the Nikkei said. Sony reported a net loss for the recent fiscal year ended in March, dragged in part by a poor performance at its LCD television unit, with the earnings result marking its fourth straight loss-making year.
The story also contained more proof that the stock market has gone completely insane:
Sony's shares, which fell 3% earlier in the day, rebounded as much as 1.5% following the report. The stock ended the day 0.6% higher.
Yep...because there is nothing like having your potential customer base reduced by 10,000 to boost those sales of useless LCD televisions.
I found this story to be quite amusing for a number of reasons. Here is the Washington Post with the details:
Outside Washington, the world is moving at warp speed away from the BlackBerry. At its maker, profits are declining and executives are leaving, and the BlackBerry has even conceded its perch as the top smartphone in its native Canada.
Inside the Beltway, time stands still. A half million federal workers — President Obama and his staff among them — are still thumbing little black keyboards on little black devices. And that number hasn’t dipped over the past few years while Research in Motion, BlackBerry’s maker, has recorded plummeting sales everywhere else.
The slow-moving federal bureaucracy is keeping the BlackBerry around. But RIM’s intensifying troubles and thriving rivals are confronting Washington with a question: Should it break its “crackberry” addiction?
Some agencies are already loosening their policies to let their workers choose other smartphones. Lawmakers and aides can now bring iPhones into the halls of Congress.
But, for the most part, the federal government hasn’t joined the smartphone revolution.
“We appreciate RIM’s focus on security, which is paramount for government use,” said Casey Coleman, the chief information officer at the General Services Administration. The agency has issued some iPhones and Android-based phones for staffers, but the vast majority of its 12,000 agency-issued smartphones are BlackBerrys.
But Coleman added that other platforms are proving equally secure. The GSA, she said, places “a priority on adoption where appropriate of innovative new technologies,”
Agencies and big contractors note that the BlackBerry is cheaper than the iPhone and many Android devices. IT departments across the government have years-long contracts with RIM and the wireless carriers that promote the device. And tech staffers at federal agencies are trained to fix BlackBerry products, which makes it harder to switch to new technologies, analysts say.
Plus, newer devices aren’t as secure as the BlackBerry, some agency officials said.
The slow pace of change has made the BlackBerry as much a part of federal culture as short-sleeve, white-collared shirts were among NASA engineers or lapel pins are among politicians on Capitol Hill. Some analysts even expect Washington to become the last bastion for RIM’s devices.
That would leave many Washingtonians with smartphone envy.
Paul Silder, a government contractor, says he feels stuck with the BlackBerry that the Department of Homeland Security gave him.
So the 44-year-old father of two is left longing for an iPhone or an Android that he can proudly tuck into the holster on his left hip.
“I want a bigger screen. I only really use it for work, but it would be nice to surf the Web more easily,” Silder sighs.
Not to be crass, Mr. Silder, but you should actually feel really lucky that you still have a secure, high paying job. It's infinitely better to be stuck with a small penis screen that to be foraging around in dumpsters for your meals.
Actually, the Feds may soon not have any choice but to change their cellphone technology:
Overall, BlackBerry’s dominance has quickly faded. Today, phones based on Google’s Android software account for 48 percent of the market, while Apple’s iPhone has 32 percent and BlackBerrys have dropped to a distant third place with 12 percent.
Last week, RIM reported quarterly earnings that missed analysts’ expectations. Its profit dropped to $418 million in the last three months of 2011, compared with the $934 million it earned during the same period in 2010. Several senior executives resigned their posts, including former co-chief executive Jim Balsillie. On Monday, RIM’s stock fell about 9.5 percent in regular trading.
It sounds like in a couple of more years, tops, that this problem is going to sort itself out. Much to the relief of this twit:
Lindsey Bowen, a 29-year-old program director at the Junior Statesmen Foundation, often has to defend her BlackBerry as iPhone- and Android-obsessed friends mock her device. Seen as outdated and uncool, it's become the Washington worker’s fashion equivalent of a hard-shell Samsonite briefcase.
“Tell us again, how many apps do you have on that thing?” they tease.
The mind reels at just how superficial some people can be.
Bonus: Sounds like the Feds are getting the long distance runaround
It goes without saying that Americans LOVE their flat screen teevees. So if sales of the damn things are starting to slip, it stands to reason that it isn't a good economic indicator. Here is paidContent.org with the story:
The consumer electronics trend that had us shuffling out our perfectly good but perfectly bulky CRT televisions in favor of fancy-new flat screens appears to be ebbing.
Whoa...whoa...gotta stop you right there, Hoss. I still have my old CRT television that I bought back in the late 1990s, and it still works perfectly fine, thank you very much. I could easily afford a flat screen, but I don't care to throw out a perfectly good set because I'm not a mindless consumer zombie like you are. So knock it off with the "us" stuff.
Anyway, proceed:
According to research firm IHS iSuppli, U.S. shipments of flat-panel TVs will actually decline for the first time since Fujitsu introduced the first 42-inch plasma display in 1997. And it doesn’t appear as though the now mature product category is in line for returned growth anytime soon.
IHS forecasts the U.S. flat-panel TV market to decline to 37.1 million units in 2012, down 5 percent from 39.1 million units in 2011. By 2015, the research firm predicts that the American market for these TVs will drop to around 34 million shipments. The flat-panel category includes TVs built around the now-dominant liquid crystal display (LCD) technology, as well as older plasma and somewhat obsolete digital light projection (DLP) technologies.
Driving the forecast, IHS says, is the maturation of the market—most consumers who could afford to swap out their big, bulky TVs in favor of more elegant high-definition flat screens have already done so. That means that in the U.S., most of the purchasing is being conducted by consumers who are replacing an older flat screen.
“The U.S. flat-panel television market has never declined on an annual basis, even at the height of the recession in 2008 and 2009,” noted Lisa Hatamiya, TV research analyst for IHS. “The decline starting this year suggests that demand may have crested for the mature U.S. TV market. Sales in the United States now are being driven by consumers who are replacing their older flat-panel sets with new models boasting more advanced features. This contrasts with developing regions of the world where vibrant, untapped markets remain for buyers making their first-ever purchase of flat-panel sets.”
But they saved the best part for last:
Another factor cited by IHS: “irrational exuberance” on the part of TV manufacturers, who glutted the current market by over-projecting demand last year.
See what happens when the government releases manipulated economic statistics to make things look better than they really are? Idiots, like those who run flat screen teevee manufacturing companies, believe them.
Bonus: A cool little ditty by the Television Personalities
