It’s a good thing that Strauss Zelnick is so good at running media companies.
Because he’d never make it as a financial analyst.
Reuters reports on the Take-Two head’s somewhat obtuse view of the current global financial meltdown. Zelnick made his remarks at the Reuters Media Summit:
I don’t think we’re in a financial crisis.
The use of the word crisis — I’m loathe to be critical of the media since I’m every bit a part of the media — but I don’t think the word has been especially helpful. We’re obviously in a recession and these are very very trying times.
Zelnick then pushed the metaphorical envelope with this bit of imagery:
We’re still seeing the car crash, and the ambulances are still showing up at the scene. Maybe we’re in the emergency room, but we’re not even in the intensive care unit yet for a lot of these companies. But they will get there.
A separate Reuters report offers the Z-man’s take on how the game biz is weathering the current
financial crisis …oops, "very, very trying times":
I think everyone was encouraged by Black Friday. It was better than expectations, but it’s pretty hard these days — being slightly down is the new up.