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Grand Theft Accountant.
that's what motley fool (a financial news website) said the upcoming take-two interactive release should be called, instead of grand theft auto: san andreas.
why?
it turns out the reason for the recent press release about their former CEO jeffrey lapin "stepping down" was because he's been given official notice of investigation by the SEC (known as a wells notice). seems that take-two has been practicing "enron-style" accounting practices.
in a related story, the ny times reported,
in other words, take-two has been run by crooks the last couple years and the SEC is up their ass. in addition to their financial mismanagement, credible financial minds speculate take-two's developers have been burdened by an unrealistic workload, and between upcoming releases San Andreas, Red Dead Revolver, and The Warriors, they have too much shit going on at once. how do these problems affect their games?
well, this might explain why SA is doubtful (although not officially ruled out) to be previewed at E3, and why Red Dead and Warriors got pushed back. however, according to the times, they've been dealing with a slew of leadership problems since 2000, and during that time, we've seen such hot releases like the Max Payne series, Manhunt, the Midnight Club series, and several other hits.
so, considering their legacy of producing awesome games while adrift in a stormy sea, i'm sure GTA:SA will live up to the hype, despite these internal problems.
that's what motley fool (a financial news website) said the upcoming take-two interactive release should be called, instead of grand theft auto: san andreas.
why?
it turns out the reason for the recent press release about their former CEO jeffrey lapin "stepping down" was because he's been given official notice of investigation by the SEC (known as a wells notice). seems that take-two has been practicing "enron-style" accounting practices.
in a related story, the ny times reported,
from: new york times april 15, 2004
"Mr. Lapin's resignation is yet another turn in the revolving door of management at Take-Two, which has had four chief financial officers and three chief executives since 2000. Its chairman and co-founder, Ryan A. Brant, resigned three weeks ago. The Securities and Exchange Commission has been investigating the company for possible accounting irregularities for more than two years.
"Several Wall Street analysts said they thought that Mr. Lapin was at odds with the company's video game developers, who felt that he had set too aggressive a timetable for getting new games to market."
"Mr. Lapin's resignation is yet another turn in the revolving door of management at Take-Two, which has had four chief financial officers and three chief executives since 2000. Its chairman and co-founder, Ryan A. Brant, resigned three weeks ago. The Securities and Exchange Commission has been investigating the company for possible accounting irregularities for more than two years.
"Several Wall Street analysts said they thought that Mr. Lapin was at odds with the company's video game developers, who felt that he had set too aggressive a timetable for getting new games to market."
in other words, take-two has been run by crooks the last couple years and the SEC is up their ass. in addition to their financial mismanagement, credible financial minds speculate take-two's developers have been burdened by an unrealistic workload, and between upcoming releases San Andreas, Red Dead Revolver, and The Warriors, they have too much shit going on at once. how do these problems affect their games?
well, this might explain why SA is doubtful (although not officially ruled out) to be previewed at E3, and why Red Dead and Warriors got pushed back. however, according to the times, they've been dealing with a slew of leadership problems since 2000, and during that time, we've seen such hot releases like the Max Payne series, Manhunt, the Midnight Club series, and several other hits.
so, considering their legacy of producing awesome games while adrift in a stormy sea, i'm sure GTA:SA will live up to the hype, despite these internal problems.
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