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The Sky is falling!!
ganton
Member UncommonPosts: 304
When did all these "Conan will be bankrupt in 3 months" posts start?? Just want to know so I can set a date that I can come back on these forums and make you all look like idiots.. And if anyone really believes that then make me a wager, if its not gone in 3 months then get the heck off these forums for good.
ps. just as an example of how untrue this statement is. I just got done RAIDING yes RAIDING (lvl 69 instance) Prison Colony in Thunder River, a 6 man instance at 3 am in the morning because there were so many people that wanted to do it we had to start a raid.
Comments
Hahahaaaa...
You were in raiding in Prison Colony at 3am? Wow, that must mean AoC is saved!!
FC's incoming bankrupt has NOTHING to do with how many people are raiding at 3am. It's about huge short term DEBT they need to PAY BACK. They need a lot of money and fast and since AoC is their main income, they need subscriptions. The problem is, people are not subscribing. If it looks like new people are joining your server, that's only current subscribers rerolling to a more populated server.
FC is in huge financial troubles but no worries, you got some awesome raiding done!
I hope this is not considered a personal attack, but this was the dumbest post I have read in a long time. Thanks for making me laugh.
I said raiding a 6 man instance, because there was tons of lvl 69ish players on at 3am that all needed the quest. It wasnt about raiding its about population. So your saying Funcom will be bankrupt in 3 months ahole?? Then take my wager.
<modedit>
Hahahaaaa...
You were in raiding in Prison Colony at 3am? Wow, that must mean AoC is saved!!
FC's incoming bankrupt has NOTHING to do with how many people are raiding at 3am. It's about huge short term DEBT they need to PAY BACK. They need a lot of money and fast and since AoC is their main income, they need subscriptions. The problem is, people are not subscribing. If it looks like new people are joining your server, that's only current subscribers rerolling to a more populated server.
FC is in huge financial troubles but no worries, you got some awesome raiding done!
I hope this is not considered a personal attack, but this was the dumbest post I have read in a long time. Thanks for making me laugh.
Is there a link to this information you can post for us to read? Something that says who they owe money to, when it's due, whether they're paying them etc...?
For every minute you are angry , you lose 60 seconds of happiness."-Emerson
Yes, I know perfectly well what you meant. That's what I thought was funny
. You think FC is in no trouble because your server had enough people to raid at 3am. Lol. You my friend fail to see the big picture.
I'm not sure how long FC can keep this up. Might be a little bit longer than 3 months, but it's coming, trust me. Only thing that could save them is if tons of people re-subscribe, which I doubt is going to happen.
You made me laugh again. Thanks
Guys, the problem with this game, aside from FC financial worries, is the population at the lower levels. If the OP is able to raid at 3am, good luck to him. Like Vanguard and DAoC and other MMOs that are no longer generally popular, there is usually a fair population at higher levels of people who have stuck it out and love the game.
I recently played to lvl 22 in this game and saw three other players - and therein lies the problem, there's no future in a game that doesn't have players coming up through the levels.
I actually thought it wasn't a bad game - bit high on the sys reqs, which I don't think helps its cause - but pretty good, all things considered. It's a pity more people don't play it TBH...
I would try march of 09. By then all of Funcoms cash in the bank will be dried up and the creditors will be beating down the funcom door by then.
But youre right. No one really knows when, but its pretty much inevitable that Funcom is goin down. Even my 8 year old twins know that a stock of 55.50 NOK in June to 3.48 in October doesnt look good. Now you might come back and say that stock price doesnt tell us anything about when a company is goin under, but I can tell you that Ive never seen a successful company lose 93.7% of their value in a 5 month timeframe.
I read somewhere that their 3rd quarter report comes out on November 12th or 13th. This should give us a little more insight on what is really goin on.
Even though I dont have the links, you can find them by looking up Azrile and litigator_ab. They have alot of posts about Funcom and can pretty much back up what they say with financial facts. Hope this helps.
To OP:
Chief officers and brokers at Lehman brothers will get lots of millions of dollars as premium before the end of this year.
This had nothing to do with the fact that they had gone bankrupt (for good) in the middle of September.
Now, imagine, if these things can happen at the same time - how much correlation is there between a given player numbet at a certain hour, and FC going bankrupt?
A little to think about...
DB
Denial makes one look a lot dumber than he/she actually is.
Hahahaaaa...
You were in raiding in Prison Colony at 3am? Wow, that must mean AoC is saved!!
FC's incoming bankrupt has NOTHING to do with how many people are raiding at 3am. It's about huge short term DEBT they need to PAY BACK. They need a lot of money and fast and since AoC is their main income, they need subscriptions. The problem is, people are not subscribing. If it looks like new people are joining your server, that's only current subscribers rerolling to a more populated server.
FC is in huge financial troubles but no worries, you got some awesome raiding done!
I hope this is not considered a personal attack, but this was the dumbest post I have read in a long time. Thanks for making me laugh.
Is there a link to this information you can post for us to read? Something that says who they owe money to, when it's due, whether they're paying them etc...?
http://www.reuters.com/finance/stocks/incomeStatement?stmtType=INC&perType=INT&symbol=FUNCOM.OL
There should be a quarterly update any day now.
Then we will all see.
Nothing says irony like spelling ideot wrong.
Funcom is a shit development company. Their "new" dreamworld engine is garbage as most of their software is.. The only good game they ever made was that Adventure game years ago.. then they suckered stupid investors into investing in AoC by overhyping it.
They have alot of big mouth egotistical idiots working there too.
I hope it goes bankrupt so I can laugh at them all.
I'm sure all the families who depend on a salary from Funcom will be delighted to know that...
Woot.. that is me. Check my post history.
In June/July I said that Funcom would be bankrupt in March 09. I have since moved it up to Jan09. I also predicted the huge loss in the 2nd quarter when the fanboys were thinking Funcom was going to make 50M because of box sales.
Negative 16M in cashflow is way too much for a company with 12M in sales to deal with. Forget about the short-term debt, even if Funcom had no debt I still wouldn't see it lasting more than 6 months. My guess is the debt will move up the collapse date a few months though.
I'll be more than happy to admit I'm wrong in January. (my hedge bet).. but I'm really thinking that by Nov 30th we will hear the next 'big news' out of Funcom talking about closing down shop or selling AOC to another company.
I'm also going to do my expectations a few days before Funcom releases 3Q numbers. I don't mind being wrong or being accountable for my predictions.. I'm not going to slink away if I'm proven wrong like so many of the fanboys have over the last 6 months.
Too bad your financial predictions are too difficult to understand for an average MMORPG user. Their thought process goes like this:
I was doing a raid with a full team yesterday = Yey, servers are booming and AoC is a huge success!
They fail to understand the importance of money. But they will understand it the day AoC shuts down. Well, actually it's probaly not going to shut down. FC will sell AoC to the highest bidder.
Please do continue writing your predictions. They are an interesting read.
I just hope you vote your interests this coming election gracefield. I mean it wasnt the employees fault that are being laid off in droves now, that FORD and GM and Chrysler decided to keep building hummers and trucks large enough to haul 4 CY of dirt at a time. Those companies made the choices at the top and they are still making nice salaries and deciding whom to lay off due to their inept production decisions. This is no different for funcom.
Some people are like slinkies, they dont really have a purpose, but they still bring a smile to your face when you push them down the stairs.
Look at the stock market right now, its in shambles, every company is loosing HUGE amounts of stock value. If your saying Funcom is going under then I guess every other publicly traded company is too, they all have huge loss margins due to the horribly failing economy. Even WOW is on a downward trend, does it look like blizzard is going under??
You also feel to realize AOC does have a large player base(No not WOW huge but big enough) and is past the development stages(Dont need to spend more money on initial development cycle). What this means is even IF Funcom did go under, the game WOULD(I would bet any amount of money on this) be picked up by another company(Albeit one no one likes most likely, Sony, EA, etc.). And the players would never even experience a break in playtime.
So even if Funcom does go under in the near future what would a current player care about this?
But AoC began its crater making fall far before the US or World markets began theirs. Secondly with the world credit markets frozen, where will Funcoms next infusion of cash come from? Banks are just starting to lend to one another again.... Funcom with its sagging player base is gonna be able to convince who exactly, to loan it more funds? With all the short term debt they already have coupled with the fact that Q2 saw a 16m shortfall... and most of quarter 3 saw them losing subscribers like people escaping the titanic. I just dont see how they can last beyond 6 months. I dont see it... Sorry...
Some people are like slinkies, they dont really have a purpose, but they still bring a smile to your face when you push them down the stairs.
Again, you don't understand the business side of things. Yes, AOC no longer has to pay the huge development costs associated with the game, but now they have to pay bandwidth and customer service. People really underestimate how HUGE the cost is for a MMORPG just for bandwidth. The two games that released numbers both said it was about 50-60% of a players monthly subscription fee. And that doesn't include server techs and customer service. It's kinda the same mistake players made when they assumed Funcom got $50 per box sold.
Oh, I'm sure someone will buy AOC, but the game will be put on life support and have a huge transitional time where no development is done on the game. This has happened in the past, and those games ar still 'out there'. I mean if you want to play a game with 20k players and where you know the first names of all 3 developers.. then yeah.. AOC will still be around.
How funny it is to think about that, and then think about GG's comments about WOW being hamberger and AOC being steak. GG is now out of work and Blizzard just announced a new peak of 11M subscribers today.
I just hope you vote your interests this coming election gracefield. I mean it wasnt the employees fault that are being laid off in droves now, that FORD and GM and Chrysler decided to keep building hummers and trucks large enough to haul 4 CY of dirt at a time. Those companies made the choices at the top and they are still making nice salaries and deciding whom to lay off due to their inept production decisions. This is no different for funcom.
Not to go down that road but the unions get to share a lot of the blame. Not that the unions= employess as they are corrupt as the day is long BUT many employees milked the system and their jobs went elsewhere as they were part of unions that milked the companies..
However none of those issues apply to what happened at FC. The average employee is not to blame in the least.
I just hope you vote your interests this coming election gracefield. I mean it wasnt the employees fault that are being laid off in droves now, that FORD and GM and Chrysler decided to keep building hummers and trucks large enough to haul 4 CY of dirt at a time. Those companies made the choices at the top and they are still making nice salaries and deciding whom to lay off due to their inept production decisions. This is no different for funcom.
Not to go down that road but the unions get to share a lot of the blame. Not that the unions= employess as they are corrupt as the day is long BUT many employees milked the system and their jobs went elsewhere as they were part of unions that milked the companies..
However none of those issues apply to what happened at FC. The average employee is not to blame in the least.
Thats what I was saying - The employees didnt make the choices, a few at the top did that. Just as I read this morning that companies taking bailout cash have set aside BILLIONS to pay huge bonuses to employees this year.
Some people are like slinkies, they dont really have a purpose, but they still bring a smile to your face when you push them down the stairs.
I just hope you vote your interests this coming election gracefield. I mean it wasnt the employees fault that are being laid off in droves now, that FORD and GM and Chrysler decided to keep building hummers and trucks large enough to haul 4 CY of dirt at a time. Those companies made the choices at the top and they are still making nice salaries and deciding whom to lay off due to their inept production decisions. This is no different for funcom.
Not to go down that road but the unions get to share a lot of the blame. Not that the unions= employess as they are corrupt as the day is long BUT many employees milked the system and their jobs went elsewhere as they were part of unions that milked the companies..
However none of those issues apply to what happened at FC. The average employee is not to blame in the least.
Also, I dont think the unions had much to do with killing these companies. I think they did it to themselves. I think they were managed poorly. After all its not the unions that chose to make whatever car they were making, is it?
Some people are like slinkies, they dont really have a purpose, but they still bring a smile to your face when you push them down the stairs.
I just hope you vote your interests this coming election gracefield. I mean it wasnt the employees fault that are being laid off in droves now, that FORD and GM and Chrysler decided to keep building hummers and trucks large enough to haul 4 CY of dirt at a time. Those companies made the choices at the top and they are still making nice salaries and deciding whom to lay off due to their inept production decisions. This is no different for funcom.
Not to go down that road but the unions get to share a lot of the blame. Not that the unions= employess as they are corrupt as the day is long BUT many employees milked the system and their jobs went elsewhere as they were part of unions that milked the companies..
However none of those issues apply to what happened at FC. The average employee is not to blame in the least.
Ford, GM and Chrysler had almost a ten-year period of record profits and skyrocketing sales of some of their most profitable companies (ie. SUV's and large pick-ups) in their history. God-forbid they actually share some of those profits with the people that actually build their cars. This is the kind of thinking that got us into this entire mess. The middle-class has always been the back-bone of our country, and unions were the driving force that payed it's due in blood that created our middle-class.
The only employees milking the system were the high-end CEO's and upper-management. Instead of thinking forward, like Toyota did with their Prius, they kept redesigning the grill on their gas-guzzling behemoths and expected to keep raking in the profits.
Man what server are you on? On Zug I have seen ONE /ooc of people looking for a prison colony group. I did all the quests in thunder river but no one ever wanted to do prison colony. The one time a group was LFM, there was a 77 in the group so that meant no XP, so I didn't bother.
Too bad your financial predictions are too difficult to understand for an average MMORPG user. Their thought process goes like this:
I was doing a raid with a full team yesterday = Yey, servers are booming and AoC is a huge success!
They fail to understand the importance of money. But they will understand it the day AoC shuts down. Well, actually it's probaly not going to shut down. FC will sell AoC to the highest bidder.
Please do continue writing your predictions. They are an interesting read.
Lol this is a really funny post highlighting how little the Op understands about the mechanics of survival in a MMO world
lol
"after the time of dice came the day of mice "
I just hope you vote your interests this coming election gracefield. I mean it wasnt the employees fault that are being laid off in droves now, that FORD and GM and Chrysler decided to keep building hummers and trucks large enough to haul 4 CY of dirt at a time. Those companies made the choices at the top and they are still making nice salaries and deciding whom to lay off due to their inept production decisions. This is no different for funcom.
Not to go down that road but the unions get to share a lot of the blame. Not that the unions= employess as they are corrupt as the day is long BUT many employees milked the system and their jobs went elsewhere as they were part of unions that milked the companies..
However none of those issues apply to what happened at FC. The average employee is not to blame in the least.
Ford, GM and Chrysler had almost a ten-year period of record profits and skyrocketing sales of some of their most profitable companies (ie. SUV's and large pick-ups) in their history. God-forbid they actually share some of those profits with the people that actually build their cars. This is the kind of thinking that got us into this entire mess. The middle-class has always been the back-bone of our country, and unions were the driving force that payed it's due in blood that created our middle-class.
The only employees milking the system were the high-end CEO's and upper-management. Instead of thinking forward, like Toyota did with their Prius, they kept redesigning the grill on their gas-guzzling behemoths and expected to keep raking in the profits.
while I agree with the thinking ahead it is kind of hard to quote records related to SUV's and then knock them for not developing a prius.
And no my friend I am sorry but upper management is not the only bad guy here. I grew up in the rust belt, watched the steel mills, auto makers and other manufacturing go bye bye and the unions were a big culprit.
Don't beleive me? Compare cars made in the US and then ask yourself why the big 3 have so much overhead. The unions have/had their place but then as is typical some power/money hungry scumbag got in there and used the workers.
Far too many workers have the "you owe me because you cant make the product without me" attitude and yet at every turn do everything they can to bleed the company dry with no thought of the future. way too many union members stand around with their hand out even when the company is in trouble and then wonder why their jobs go overseas.
You provide the perfect example as you seem angry because they didnt share their profits even though the union workers in those plants have some of the best blue color jobs in the country and yet you think they should get more.
And please dont get me wrong I am not saying that the companies are in the right 100% either. As in most things the truth is somewhere in between. Unfortunately most management has never spent time as a "grunt" and most average union workers have no idea what goes on in management.
Anyway we'll agree to disagree but as I said if there was more understanding between the sides then they might be more successful.
I just hope you vote your interests this coming election gracefield. I mean it wasnt the employees fault that are being laid off in droves now, that FORD and GM and Chrysler decided to keep building hummers and trucks large enough to haul 4 CY of dirt at a time. Those companies made the choices at the top and they are still making nice salaries and deciding whom to lay off due to their inept production decisions. This is no different for funcom.
Not to go down that road but the unions get to share a lot of the blame. Not that the unions= employess as they are corrupt as the day is long BUT many employees milked the system and their jobs went elsewhere as they were part of unions that milked the companies..
However none of those issues apply to what happened at FC. The average employee is not to blame in the least.
Ford, GM and Chrysler had almost a ten-year period of record profits and skyrocketing sales of some of their most profitable companies (ie. SUV's and large pick-ups) in their history. God-forbid they actually share some of those profits with the people that actually build their cars. This is the kind of thinking that got us into this entire mess. The middle-class has always been the back-bone of our country, and unions were the driving force that payed it's due in blood that created our middle-class.
The only employees milking the system were the high-end CEO's and upper-management. Instead of thinking forward, like Toyota did with their Prius, they kept redesigning the grill on their gas-guzzling behemoths and expected to keep raking in the profits.
while I agree with the thinking ahead it is kind of hard to quote records related to SUV's and then knock them for not developing a prius.
And no my friend I am sorry but upper management is not the only bad guy here. I grew up in the rust belt, watched the steel mills, auto makers and other manufacturing go bye bye and the unions were a big culprit.
Don't beleive me? Compare cars made in the US and then ask yourself why the big 3 have so much overhead. The unions have/had their place but then as is typical some power/money hungry scumbag got in there and used the workers.
Far too many workers have the "you owe me because you cant make the product without me" attitude and yet at every turn do everything they can to bleed the company dry with no thought of the future. way too many union members stand around with their hand out even when the company is in trouble and then wonder why their jobs go overseas.
You provide the perfect example as you seem angry because they didnt share their profits even though the union workers in those plants have some of the best blue color jobs in the country and yet you think they should get more.
And please dont get me wrong I am not saying that the companies are in the right 100% either. As in most things the truth is somewhere in between. Unfortunately most management has never spent time as a "grunt" and most average union workers have no idea what goes on in management.
Anyway we'll agree to disagree but as I said if there was more understanding between the sides then they might be more successful.
What does ANY CEO really do that entitles him to such bonuses? I mean COME ON! Give me a break.
Funcom was greedy, plain and simple, management rarely suffers as badly as the rank and file in any collapse of any company....
Lets see CEO made 5 million and a 28 Million dollar bonus/golden parachute payment, DOES HE CARE if his job is gone? Does he REALLY HAVE TO WORK ever again? I mean this is an irrational argument.
Some people are like slinkies, they dont really have a purpose, but they still bring a smile to your face when you push them down the stairs.
I just hope you vote your interests this coming election gracefield. I mean it wasnt the employees fault that are being laid off in droves now, that FORD and GM and Chrysler decided to keep building hummers and trucks large enough to haul 4 CY of dirt at a time. Those companies made the choices at the top and they are still making nice salaries and deciding whom to lay off due to their inept production decisions. This is no different for funcom.
Not to go down that road but the unions get to share a lot of the blame. Not that the unions= employess as they are corrupt as the day is long BUT many employees milked the system and their jobs went elsewhere as they were part of unions that milked the companies..
However none of those issues apply to what happened at FC. The average employee is not to blame in the least.
Ford, GM and Chrysler had almost a ten-year period of record profits and skyrocketing sales of some of their most profitable companies (ie. SUV's and large pick-ups) in their history. God-forbid they actually share some of those profits with the people that actually build their cars. This is the kind of thinking that got us into this entire mess. The middle-class has always been the back-bone of our country, and unions were the driving force that payed it's due in blood that created our middle-class.
The only employees milking the system were the high-end CEO's and upper-management. Instead of thinking forward, like Toyota did with their Prius, they kept redesigning the grill on their gas-guzzling behemoths and expected to keep raking in the profits.
while I agree with the thinking ahead it is kind of hard to quote records related to SUV's and then knock them for not developing a prius.
And no my friend I am sorry but upper management is not the only bad guy here. I grew up in the rust belt, watched the steel mills, auto makers and other manufacturing go bye bye and the unions were a big culprit. American companies sent jobs overseas because they can exploit foreign workers there that they cannot here. Unions have been the driving force here for protecting our workers rights so that that exploitation will not happen here. American companies sent jobs overseas not because they could not compete by making things here, but simply to maximize their profits without any regard for their country.
Don't beleive me? Compare cars made in the US and then ask yourself why the big 3 have so much overhead. The unions have/had their place but then as is typical some power/money hungry scumbag got in there and used the workers. First off Japan has a huge number of unionized workers, and yet they still manage to make better cars than the US companies. While there is no doubt that there may be some corruption in some unions, there is corruption in everything from companies to pro sports. The big 3 have themselves to blame for their lack of any ability to think outside the box and produce a decent small car that gets good gas mileage, and that has nothing to do with unionized workers.
Far too many workers have the "you owe me because you cant make the product without me" attitude and yet at every turn do everything they can to bleed the company dry with no thought of the future. way too many union members stand around with their hand out even when the company is in trouble and then wonder why their jobs go overseas. So when the Big 3 couldn't make a decent small car that got good mileage in this latest "oil shortage" and their management stood their with their hand out begging the American people to give their companies yet another hand-out I bet you thought that was just fine, huh? No American workers (or most at least) want any hand out at all. In fact, they are more productive and more dedicated than any other workers in the world. The fact is is that in the last 8 years unions have declined at a faster rate than ever, and correspondingly the gap between the rich and the poor in this country is bigger than any other time in modern history. No, American workers do not want a hand out. But they do deserve a piece of the pie.
You provide the perfect example as you seem angry because they didnt share their profits even though the union workers in those plants have some of the best blue color jobs in the country and yet you think they should get more. First, I'm not angry. Second, I never stated they should get more. I firmly believe that some unionized job markets, such as the auto industry, needs to be very careful when demanding more when they do have very good jobs. In fact at the only Mitsubishi plant in the US the union did just that and voted to cut their wages to be a little more competitive recently. But the fact is is that many companies have no interest in manufacturing anything in the US and are only interested in exporting jobs overseas. That is as un-American and unpatriotic as anything that one could do yet US companies have helped build a Chinese middle-class while they wage a war on our own middle-class. American companies forget that the biggest buyers of their products are those same blue-collar workers who's jobs they are shipping overseas.
And please dont get me wrong I am not saying that the companies are in the right 100% either. As in most things the truth is somewhere in between. Unfortunately most management has never spent time as a "grunt" and most average union workers have no idea what goes on in management.
Anyway we'll agree to disagree but as I said if there was more understanding between the sides then they might be more successful. That we can both agree upon. Both sides need to have less disdain for the other and get back to bargaining fairly. Unfortunantly, unions have the best interest of not only their members, but the USA as a whole, while companies only have the interest of maximizing profits at the expense of anything or anyone that they can exploit to make it.