Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

October 21, 2008 -

Frenetic money man Jim Cramer named Take-Two chairman Strauss Zelnick to the "Wall of Shame" on his popular Mad Money program yesterday.

Cramer blasted Zelnick and a pair of CEOs from other companies for failing to accept takeover bids and then seeing their stock values collapse.

As has been widely reported on GamePolitics and other sites, Zelnick rejected a $25.74 acquisistion offer from Electronic Arts earlier this year. EA eventually walked away from the deal. The Grand Theft Auto publisher's stock (TTWO) will open at 13.15 this morning. Among Cramer's trashing of the T2 boss:

[EA's offer was] an offer no sane man can refuse. But Strauss Zelnick, Take-two's chairman did just that...

Welcome to the Wall of Shame, Strauss Zelnick. You managed to take a sure thing, a $25 stock and turn it into a $13 one. That takes talent.


Comments

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

your already on your second screen name, which means GP must have banned the first. which means we have no way of confirming that you are indeed who you say you are..... you anonymous coward.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

You would know most of our names by now if you took the time out of your so-called 'busy' day to read responses to your posts.

My name is David Gagnon. If you want to do something about all this libelous content you claim is on the site, i'd be happy to represent the posters here in their entirety just to prove you wrong. I already gave you my e-mail address. Why won't you take up this offer? You're 'too busy?'

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

I'll take a voluntary drug test since Mr Troll slandered me over drug use.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

An Internet troll, or simply troll in Internet slang, is someone who posts controversial and irrelevant or off-topic messages in an online community, such as an online discussion forum or chat room, with the intention of provoking other users into an emotional response or to generally disrupt normal on-topic discussion.  See Jack Thompson, soon to be disbarred attorney

Sortableturnip's Law: As an online discussion of video game violence grows longer, the probability of a comparison involving Jack Thompson approaches 1

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Ooh. Ouch. What next. You going to start calling people doodie face? Or maybe you'll take your ball and go home. Nah, comparing you to an emotionally unstable child is an insult to emotionally unstable children everywhere.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Nah, probably your secret admirer.


Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Shows how much you know...

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

What he's going to get in an Obama Administration is a video game law that criminalizes the sale of Mature games to kids, and the entire industry can thank GTA for that development.

Yeah, even assuming he wins, Obama's going to have bigger things to worry about than trying to talk Congress into a law banning games. Also, seeing as his rhetoric on the subject has primarily been along the lines of "Parents need to take responsiblity for their kids." I'm not seeing any laws banning games so parents don't have to worry. Probably a few initiatives to get parents to monitor kid's play, and try and get their kids interested in other things, but no attempts at bans.

-Gray17

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

I see you're not calling yourself a lawyer anymore.  You must finally be accepting the reality of your disbarment.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

no no no lol,

 

Jack said a couple days back that we 'all had a suprise coming' and that he would 'still be a lawyer' after the 25th.

what?.. hot air you say?

as usual you say?

 

ahhhhh i shall have to rethink!

 

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Is it the 25th today?  I missed that.  Thanks!

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

no its the ....21st. When did i say it was anything other? Learn how to read moron.

You can use a magical device called a CAL-EN-DAR to work out at what point in the year it is Jack. The CALENDAR says you have what? 4 days to come out with this 'surprise' that'l prevent your disbarrment?

you know.. the suprise you totally have in store... just like all the other suprises? You know, all those smoking guns and things that you know that we dont know and things behind the scenes I mean, you dont want to leave it too late jack, or youll end up looking stupid when you shout about not being given opportunity to defend yourself when you clearly were.... oh... wait... i forgot.. thats a strategy of yours isnt it?

 

Oh and ps.. I love the fact that after you insulted me in the Thread about the call of duty kid, you didnt reply to the counter argument i posted that utterly wiped the floor with you.

Its a great feeling to know that you read it and just sat there saying 'but..but...but... but.... but... BUT... damn i cant think of anything!!.. *drool*' and decided to ignore it.

Perhaps your frontal lobes are fried from sitting around on your posting on game politics all day?

Here's an idea:  How about you get off your soon to be disbarred butt and write the makers of the Calendar to add extra days into the month, then the 25th will never arrive, and you'll be a lawyer forever. Its about the best shot you've got Ace. 

Then you can say you actually did something in your life to help yourself that actually succeeded. Hoo Haaa!

NovaBlack, Sane and your not.

 

 

 

 

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Awwww Jack, not calling yourself attorney anymore? Is reality sinking into your skull? There there, it is almost over. I see you went through denial and anger already. It is good that finally acceptance is setting in. Now go and enjoy your retirement, by going else where (perhaps a different website and continent)! Thanks, bye!

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

WE CAN'T WAIT FOR THE 25th, JACK!

Personally, I going to throw a gigantic "Jack's been disbarred forever" party.  You're not invited, though....

Sortableturnip's Law: As an online discussion of video game violence grows longer, the probability of a comparison involving Jack Thompson approaches 1

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Real thing or not? Pretty sure Jack was wielding the whole attorney thing. Before I feel like commenting on this guy claiming he had stock, I want to know I'm wasting time on the real thing.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Not certain either way, it could be that his last account was banned, or simply that it's yet another troll, there's enough about on the Internet, and Jack is only one of them.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Yes, Einstein, it's not like everyone's stock prices have dropped at all over the last few months or anything.

And all of a sudden you're supporting Obama, I thought you supported Palin, or maybe you just Flip-Flop to suit your own paranoias?

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

EA's shares have also plunged to around $31 anyway, so I'm not even certain the buyout would have gone ahead.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Well, it takes an idiot to know an idiot.

---You are likely to be eaten by a Grue.

---You are likely to be eaten by a Grue.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Jim Cramer is a hack with serious conflict of interest issues.

 

That's all I have to say about that.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

A hack? Really?

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Yes, really. He's almost the equivalent of Dr. Phil when it comes to his TV show. Only thing is that he has a vested interest in many of the companies he shills so even when they're doing poorly, he'll still hype them up and say they're going to turn around. A nice example of that was Bear Sterns earlier this year and his trying to cover his ass.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Queue unprovoked, nasty, bile, disgusting response from King Forum Troll JT in 3....2.....1......

Sortableturnip's Law: As an online discussion of video game violence grows longer, the probability of a comparison involving Jack Thompson approaches 1

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

They made the right decision when it came to rejecting EA's offer.  They kept independent, and they're still able to do as they damn well please.  I'm callin Mad Money as soon as I get around to it, because this is stupid.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Agreed. While the goal is always to increase stock prices, that's the -long-term goal. If a company can demonstrate that a takeover will in the long run be a bad decision, then the takeover dosen't happen, no matter how much money is brought to the table.

As for why the stock price spiked? Most deals like this AFAIK have stock exchange agreements, where shareholders in T2 would then get some EA stock in compensation as part of the deal. So you have a 27 dollar T2 stock certificate about to be exchanged for 50 dollar EA certificate. No suprise the value of T2 shares shot up as the takeover was being discussed...

 

Best keep your wits about you: The gears of life are always spinning, and ignorance eventually means you'll get caught in them.

Best keep your wits about you: The gears of life are always spinning, and ignorance eventually means you'll get caught in them.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Perhaps it's not about the cash?  People like Jim Cramer are what hurts the video game industry.  Three-piece suits who only care about their stock price.  The sooner we start treating game development less like a stock price to worry about and more like a form of artistic expression, the better.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Even worse..

 

caring about just the stock price I can understand, after all, that is what investors care about and they have a right to be interested in the bottom line that effecdts their lives.

But Cramer and his ilk, they take it one step further and only care about the short terms stock price.  Destroy a comapny for a quick rise so the day traders can make a buck but th elong term investors get shafted.  People like him are not just destroying the game industry, they are destroying american industry and markets in general. 

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Agreed.

It's easy to look at stock values and say "well that was a stupid decision," but there was more at play than just money. T2's credibility was very much at stake in that deal, and I for one am glad it did not go through.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Simply he wanted Take Two to remain independant, despite the wall of cash EA was offering. Some people will just flat refuse to become part of the mega-corporation to remain what you are. I think his was a terrible decision but, it was his call through and through. I respect that he didn't sell out for corporate cash...but will Take Two suffer for it? Time will tell.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Feh. He refused the offer, and after EA finally gave up, the stock dropped back down to the 16-17 it had been trading at before the attempt at takeover. Then the whole stock market crashed by a few thousand points over the course of a week.

Meanwhile EA had been trading at close to 50 for most of the year, and is currently lucky to be hitting 30. In short the economy has hit TTWO for 3-4 dollars a share, and hit EA for 15-20 dollars a share. Not being part of EA doesn't sound all that bad when put in those terms.

Of course this leaves out the fact that EA took it's offer hostile for most of the year, and still failed to get anywhere. So the blame for the failed takeover goes not just to Zelnick, but to all the stockholders that backed him up.

-Gray17

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Gray, excellent post.  I was going to post something similar, but there's no point with your post being buried amongst the crap. 

Mad Money is a show about the stock market made to entertain people who don't actually make a living there, or be a farce for those that do.

~~All Knowledge is Worth Having~~

~~All Knowledge is Worth Having~~

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Once Cramer's finished up having his little orgasm over stock prices, I'd like to thank Zelnick for keeping his independence and continuing to produce competition for EA.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

 What competition? 

 

Take Two is a joke and their decision was pathetic. I understand people like to cheer on the little guy, or rather, cheer the opponent of the big guy, but how anyone can cheer on Take Two is beyond me. They're worse than EA, they're a retarded company, and the only reason they refused EA is because of their greed. Now they have 13$ stock.


Go Take Two!

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

seriously? are you for real?

T2 WORSE than EA?

hand in your e-penis, and get out of here. ignorant people anger me.

I don't know if you noticed, but the only time take two has been pathetic was when they denied the hot coffee scandal. beyond that they have been making wonderful games.

 

also: you claim this is about greed? if that's the case then why didn't T2 accept EA's offer to BUY them?

seriously. ignorant people leave now.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

 You bash supposed ignorance and yet you know nothing of basic business economics and proceed to justify Take Twos decision because "they make wonderful games". 

 

Your lack of understanding explains you not understanding the correlation between corporate greed and T2 not accepting this deal, and your anger and insults only serve to put you clearly in the lines of Ignorance.

 

Hypocrite. Wrong hypocrite.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Greed? I seriously doubt that they didn't see the stock price drop coming. If it was greed, they would've take EA's offer; big money, that one.


Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

Amen to that! There's more important things than money. But at least T2 HAS stock now. If they accepted the bid, it would be EA's stock. Stauss did the right thing, rather than submiting to tyrants. Any dead fish can float downstream.

Re: Mad Money's Cramer Adds Take-Two's Zelnick to Wall of Shame

A publically traded company has one job only.

Its job is to consistently increase the price of the stock.

By refusing to go through with the deal Zelnick went against everything his job required him to do.

No stock buyer should ever invest in this company again since the company’s primary concern is not the interests of the people that own the company. Though any idiot that didn't sell after a half a year of failed negotiations probably deserves to lose his money...

 

That said, I am very glad this deal didn't go through. I like that there is competition for EA but don't kid yourself, the people hired to serve the owners, protected their jobs at the expense of the owners. So this is all about greed. This is just a case where greed worked in the best interests of us, consumers...

 
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