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Michael Pachter Quotes

«The lack of specific guidance reflects that these guys weren't really prepared for a downturn and they are not really sure how bad it is, how long it will last, or whether it will persist beyond the first couple quarters of '06.»
«It's like a shifting of loan repayment responsibility, collateralized by Midway shares.»
«We believe that industry sales have been quite weak since Take-Two's late October negative preannouncement, primarily due to consumer malaise and a shortage of Xbox 360 hardware... Given weak November NPD sales and Electronic Arts' and Activision's recent earnings warnings, we believe that Take-Two likely experienced weak sales during the holiday period, as consumers continue to shun current generation games while waiting for next generation consoles.»
«We believe that Midway's recent share-price weakness is more attributable to a slow down in purchases by its major shareholder than to a downturn in its business.»
«It was a perfect storm. One could say it was a bad strategy; I would say instead of bad it was a very risky strategy. Essentially, they played blackjack and put a quarter of their money on each hand and busted every time.»
«They clearly aren't in the big leagues. They're back in the minors now and we'll see if they can build the business back up.»
«Microsoft's first-mover advantage is eroding if it takes them very long to get the first 5 million boxes out. If 4 million show up in the month of June and Sony launches in the month of June, there's not much of an advantage (for Microsoft).»
«One reason they didn't make my number was because they added so much to the reserves.»
«The year's a mess. None of us thought six months ago the holidays would be so weak, and no one expected there'd be such a dramatic decline in sales for the current-generation of games.»
«They need a capital infusion to grow.»

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