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

http://www.reuters.com/article/2013/01/18/sony-building-idUSL4N0AN1NL20130118

-20 bidders

-sony bought the building in 1992 (even though I think reuters has it wrong, they bought it in 2002 according to wiki) for 236 million, will set a operating income gain of 685 million for the march quarter.

-its japanese HQ is up for sale also, Sony is looking for another billion for that property

Shares were up 13%



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Thats huge! Maybe Sony should just ditch consumer electronics and get into property investment, seems more profitable for them (j/k).



wait... are the employees will be transfer somewhere else? did people just lost their jobs there too?



 

Very good news. Now they need to sell that building in Japan..



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Finally some money for Sony ..... Dear Gawd



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edit shares are up 13% now



aikohualda said:
wait... are the employees will be transfer somewhere else? did people just lost their jobs there too?

They just continue to work as usual. Just that Sony will have to pay rent.



aikohualda said:
wait... are the employees will be transfer somewhere else? did people just lost their jobs there too?

It will be rented back to them. This will cost them more over the long-term, but they need the cash now.



Soleron said:
aikohualda said:
wait... are the employees will be transfer somewhere else? did people just lost their jobs there too?

It will be rented back to them. This will cost them more over the long-term, but they need the cash now.

The official agreement is for 3 years, after that they have new leasing terms.  They can agree to them or move to something more affordable.



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.