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Bailing out? Microsoft Xbox Executive sells company stock as red ring problem continues |
Listed in: Xbox 360 Tags: Microsoft, Robbie Bach
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It could be a sign, or it could just be a badly-timed business call - but it's definitely disconcerting, as researchers and analysts have just uncovered the fact that Microsoft Xbox Executive Robbie Bach has sold US$ 6.2 million worth of company stock at around the same time the red ring problem really went overboard. If you remember, it was also at this time that Microsoft put into motion their plan to take care of those red rings, with the company taking the inevitable brunt of it.
While this may seem cause for worry, it certainly doesn't look like it. For one, a review with the Securities and Exchanges Commission reveal that Robbie Back sold that much shares in the time period that began on May 2 and ended at the point where Microsoft announced the plan to take better care of those red-ringed consoles. So that means it's not one of those impulse sales where the shareholder dramatically calls up his or her broker and says somberly: "Sell everything." No, it was gradual.
Another thing that points to the latter is that Microsoft's shares neither rose or fell significantly after the announcement - in fact, it barely moved at all. And with the company's spokesman himself, Eric Hollreiser, saying that Robbie Bach's trading is in no way related to the announcement and that he (Robbie) still has a large stake in the company and confident about Microsoft's success, there's probably no real need to worry.
For those of us still jittery about this bit of news, though, here's Ben Silverman, director of Indie Research, to tell us about the ways of a high-stakes shareholder:
It doesn't necessarily mean [insiders] think that there will be a bad event; it could just be financial planning. But sometimes it just looks bad that an insider has sold stock. I'd give [Bach] the benefit of the doubt here, especially because the stock didn't move very much.
Well, there you have it. And it's not really a bad thing, Microsoft taking care of their customers at their own cost - it just goes to show that they want their customers to get the best service, right? Updates as we get them, and you can read the entire article with all the data on the read link below.
Thanks to Quixand for the tip!
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Anyone care to elaborate.
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so yeah....it's just what your looking for in games
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also, doesnt microsofts ***** get pruny since its been in your mouth for so long?
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Quixand is a well known PS3 fantard and is looking for ammo to bash the 360. Just an amateur really. He doesn't have the skills to compete.
"Normal people buy console for the upcoming games..."
I guess I'm not normal according to you. So you're going to buy a PS3, but don't care about getting any games for it when you get it or even in the next couple months? You're just hoping you're going to like them? The PS3 barely has 19 games. Let me guess what games you got, uhh Resistance, Motorstorm, and Ninja Gaiden Sigma. Of course I'm right, the rest are XBOX 360 ports that were watered down and came out 2 years later on PS3.
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lmao u fail on everthing u just said, this article was never written by Quixand... if ur retard ass read the article below Quixand name then u would know that CNN posted it and DowJones wrote it. Why would u compare ur so called next gen console that is unstabble and doesnt have a good reputation to even called a gaming console on a new release machine that can match a pc on every way, i agree ps3 doesnt have THE games that will totally kill ur piece of crap machine but its too early to speculate cuz once the games for ps3 comes out... you would be crying on ur bed saying that y didnt i get ps3 when i had a chance.
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-Robbie sold the stock months ago
-Robbie still holds A TON of stock, he just sold SOME of it. Maybe he just wanted to buy some stuff with it?
Cmon people, the "real news" sites mention that it commonly happens that a sell of stock comes at a bad timing, it doesn't necessarily mean ANYTHING.
If you don't understand these concepts, just leave, we have enough children commenting as it is.
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i'm out to destroy Microsoft??? i didn't come up with the story... i read it and just passed it on... same thing as "hey did you hear about the robbery last night?"...
it's just passing on news... i didn't make up stuff or start a bad rumor... it's on fu*cking CNN for crying out loud!
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none of them are pro Microsoft... and you know how gullible some people on the internet are... but don't worry i'll try to brush up on my skills.
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I can just picture you now lounged at home fat and spotty stuffing ur face with a pack of cheetos endlessly searching the internet for all MS's flaws to spread around sites like qj so you can make ur ps3 seem a worth while purchase.
Why the hell are all u sony fantards here anyway this article wasnt in the ps3 section unless all these people are just Quixand on his xbox hate campaign
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only bads news for Sony are the sales figures and that's old news...
oh and just to let you know when Nintendo zipped passed Sony in Japan (stock wise) i sent that in too.
as for your image of myself... i sure wish i was fatter and damn you made me crave for some cheetos right there.
as for ur precious XBox section... how many times do i have to explain that all the articles are on qj.net whether it's wii, ps3 or xbox... i even get nightly emails from qj with a summary of all articles for that day.
but you wouldn't know that would you??? now you know so next time try not to look so stupid ok benny boy?
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It's a community, grow up and leave the guy alone
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wouldn't be a worthwhile community if these guys don't jab at me and some other PS3 buddies here like Folding Junkie and Vietone, and vise versa...
I'm used to guys like Common Sense, Hellraiser, Devise, Shatterdome and ofcourse their go-to-guy the aborted-baby-but-still-lived XMan.
Thanks Huften anyway for trying to smack some sense to these guys... won't work though.
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I sound like a hippie or some crap but still.....
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11.6 million xbox 360's are faulty??? which M$ just happened to confirm??
no???
well have a look for yourselves
http://www.theinquirer.net/default.aspx?article=40933
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PS3 had 23 titles on Euro launch (4 months later)
Now about 8 months after launch, the PS3 has 57 games available, 86 titles by March 2008!
As I see it.. I will have plenty of games to play the coming months ;)
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In a statement, Volish spinsters said that all of the consoles suffer from a design flaw which could cause the machine to fail.
However, the outfit said that while it is extending the warranty coverage from one to three years to compensate consumers, it had no plans to recall or exchange the boxes.
Volish gaming supremo Robbie Bach refused to say what the problem is, but said that units currently in stock will be upgraded
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What MS need to do is redesign that darn box!! so it doesnt overheat instead of extending warranty :S i was going for xbox but no way... ms doesnt have warranty in my country
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Benny do us a favor and stop talking. You know know as much as mister common sens eon the failures of xbox. If MS learned to no rush there system to get a year start they would have had a better working consoles.
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Also the sales and popularity has gone through the roof, they might make more NG on PS3 now.
But agree with the rest you said.
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There should be a console checker that checks the Games consoles. And if they don't meet to te demand of the product working right, they get out of the competition.
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A Watch FULL new movies, instead of a crappy 30 minute trailer that I could get anywhere
B let me watch tv shows that are NEW from any GOOD network
C chat with people, either by CLEAR video, voice, or msn.
So we can clearly see whats the better buy now? Can't we? ;)
PS htf did i get owned? i don't even know you xD
And how exactly am i making myself look silly exactly???
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To the guy above, I'm not sure if you were listing those five exclusive games you mentioned or just five games that will sell well, but Devil May Cry is not exclusive to the PS3.
To anyone who honestly thinks Microsoft is going down because one semi-high-ranked person with the company sold some stock: there is something wrong with you.
I wonder how many Xbox fantards would have a big 'ole field day if Phil Harrison sold Sony stock. I don't even wanna think about it. God I hate fanboys
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Do you expect anyone to take you seriously with the way you write? They don't, so stop wasting your time.
And what's with all the people above getting so bent out of shape because Quixand submitted this article? Why the hell do you care? Jesus some of you people, namely Benny, need lives
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Don't make yourself look foolish.
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Also the fact that your annoying.
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And how is it a failure when its the best selling nextgen console? And when its so good, its about to replace cable because of all the stuff it has to offer?
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And syde? I thought you said stop being a fanboy huh? What was that about 360 freezing there buddy?
Back to stealth! You said people you know? You don't have a ps3, and have never played it right? EXACTLY
I've played the game every fn day the beta was out, and it would freeze at least twice. AND all the people on my list say it froze on them, and they thought insomniac patched it, which they didn't. So I know nothing about the ps3? Tell me your name on there, and get on now.
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Also the people i know from Neoseeker which is 1000 at best said it never frozed on the ps3. Still think im lying huh how about you stop BS to think im lying. Since we know your full of Crap as it is.
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