Posts Tagged 'economy'

Economy to slow technology advancement?

Yes, the economy in shambles. Not just our economy, everyone’s. Company layoffs, left and right. I said to myself at the beginning of it all that “if Google starts laying off people, we’re all in trouble.” Sure enough that happened last month, Microsoft too, and a lot of others are handing out pink slips. Chip makers, hardware manufacturers, basically every gadget company you can think of has been affected by this. SSD making Spansion filed for bankruptcy protection. Which leaves me to think other solid state hard drive makers may soon follow suit.

Will technology advancement suffer from this slowdown? Solid state drives on the cusp of making it into mainstream computers might have taken a step backwards. Less research and development, high cost, questionable long term performance, all issues in holding back this technology. Perhaps this is a sign of things to come.

What about hybrid and electric vehicles? Cost is still an issue, automakers are in a financial crunch. Mere survival is the daily issue, forget making that new fancy green affordable vehicle for the masses. Certainly investing in environmentally friendly expensive technologies is last on the agenda. How will Obama lead the world through this crisis?

Uh oh, maybe there’s something this economy thing

Banks are going under left and right but the technology sector is immune … right? Money automatically flows towards technology companies in good times and bad … right? What’s this? eBay is cutting 1,000 jobs? Uh oh. And they’re going to take a $70 – 80 million charge for restructuring?! This could be trouble. When one of the big boys has to cut jobs things must be on a downswing. The auction game has been in bit of a flux lately. If you noticed eBay cut seller fees a few months ago and I’ve noticed the seller promotions have increased. For eBay things were already on a downswing.

Now if Google has to cut jobs … we’re all in trouble.

Economy going down the toilet while the nation plays Guitar Hero

The U.S. video-game industry remains on track to achieve a record year of more than $22 billion in revenue, as people are apparently turning to in-home entertainment to weather the shaky economy.

Store sales of video games and consoles in June soared 53% and 54%, respectively, from the same month last year, while revenue from software and accessories rose 61% and 25%, the NPD Group said Thursday. So far this year, retailers have sold $16.6 billion in video games, consoles, and related products, compared with $12.2 billion during the same period a year ago.

“The videogames industry continues to perform in the face of an ever-increasingly difficult economic environment as many turn to more in-home entertainment,” NPD analyst Anita Frazier, said in an e-mailed statement. “Even if growth slows over the back half of 2008, the industry is poised to achieve record-breaking revenues of over $22 billion for the year.” (link)

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