Sony sells New York HQ for $1.1 billion, up 19% in 2 days

[Train wreck]

kain_kusanagi said:

Train wreck said:

kain_kusanagi said:
Not good news. If they are this desperate it means things are worse behind closed doors than they are letting on. The only way for them to turn it around is to start selling TV at competitive prices.

wrong.  Did you guys not read what Kaz mention during his time at CES?  They are getting rid of non core assets (chemical business, joint ventures that do not make sense for them, some of its headquarters and its upcoming battery business) to focus on their core (gaming, TV, phones, electronics/media), you know the things that people constantly say sony needs to be in.

Riiiiight, as if the head of the company is going to admit to investors that it's as close to a fire sale as you can get without burning the company to ash.

 

Seriously, If the company wasn't in trouble they wouldn't be laying people off left and right and selling assets to pay debts and keep factories open. I hope it works and they get some budget priced HDTVs into Walmart so they can start making a profit like Visio. Things are clearly not going well, but maybe their strategy will pay off.

 

No one said that the company is doing rosy, thats why kaz is the CEO now, they are in restructure mode.  They are trying to get smaller purporsely.

They reduce the number of TV models last year in order to cost save.  They have to lay off people and close studios, sell building and non core assets like it chemical business, its joint ventures that did not make any sense but was costing them 1 billion dollars a year, its upcoming battery business and reinvest in the thing that most people constantly say they should do, invest in their core stuff like consumer electronics, phones and games.