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Lasky: EA "has destroyed" over $11bn market value, all "since JR"

Ex-EA man Mitch Lasky has blogged a damning piece of EA's haemorrhaging of market value over these last few years, noting $11bn is gone.

Lasky says it's "amazing" the EA board continues to back "existing management", pointing the finger at reins-holder CEO John Riccitiello.

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Megaton3202d ago

Weird how that works out. From a gamer perspective, I think they're currently the best they've ever been. I used to be a staunch EA hater, but they've really warmed me over in recent years. Dead Space was a big factor in that.

Pandamobile3200d ago

Same, EA used to be the scum of the video game industry. Since about 2007, they've completely turned around their image in my eyes.

Activision can eat a d1ck though.

jjohan353200d ago (Edited 3200d ago )

Yeah unfortunately their multiplayer online support is next to non-existent. They never bothered to fix the mic support on BF1943 for PS3 along with a bunch of other games.

I think people have been supporting EA lately because everyone hates Activision. Other than single player campaigns, EA's games haven't really improved that much especially in the online multiplayer area.

poeo3200d ago

nobody bought the good games they published like Dead Space, Mirror's Edge, Skate 1/2 and BF:BC.

compared to their old sports franchises those games sold very poorly.

we can only blame ourselves for not supporting them when they actually tried to put out new games and not just cheap rehashes...

Megaton3200d ago

^ Don't blame me, I've dumped a fair amount of cash into EA over the past couple years. I bought Dead Space (w/DLC), Mirror's Edge, Mercs 2, Burnout Paradise (w/tons of DLC), and Battlefield 1943. Also encouraged several friends to get Dead Space, Burnout Paradise, and Mirror's Edge.

Tony P3200d ago

That's how it often seems to be. The unfamiliar flavour is ignored by the masses in favour of the same old vanilla with a few new sprinkles.

As a gamer, I like EA's current approach. But if the money men aren't satisfied, they won't be able to do it for much longer. :/

PrimordialSoupBase3200d ago

It's a sad thing that public favour means little in the face of cash hungry stockholders.

Pandamobile3200d ago

EA Games I bought Pre-2007:
NHL 2004 for the PS2 and Battlfield 2.

EA Games I've bought since 2007, and plan to buy in 2010:
Crysis, Crysis Warhead, Battlefield 2142, Mass Effect, Mirror's Edge, Burnout Paradise, Dragon Age, Mass Effect 2, Crysis 2, Battlefield Bad Company 2, Battlefield 1943 and more :o

Anon19743200d ago (Edited 3200d ago )

EA doesn't control their stock price, the markets do. Every investor is somewhat gun shy these days, and tech stocks in general have never regained investor confidence since the tech wreck 10 years ago. When you're burned that bad, you don't forget. Most analysts are predicting anywhere from 100% to 150% growth in the coming year, year and a half, and there isn't an analyst out there who doesn't have a Buy recommendation on this stock at these levels.

Investors are jumpy, and rightly so. Just because the panicky sheep that influence the market are scared of this stock doesn't actually mean it's warranted. EA wouldn't be the only company still grossly undervalued at the moment.

"some of that is due to the recession."
Ya think? But then he goes on to point at Activision not suffering as bad. Yeah, and that has nothing to do with the fact that almost half of Activision's revenue comes from World of Warcraft...

evrfighter3200d ago

It's like this guy forgot that we're in a worldwide recession...

screw the recession! blame JR!

+ Show (6) more repliesLast reply 3200d ago
STK0263200d ago

After reading his comments, I assume he was working for EA when all they did was releasing sequels after sequels. He's blaming EA for releasing Mirror's Edge, Dead Space, Spore, Dante's Inferno and ToR, which is funny considering these are pretty much the most exciting games EA has ever published.

iceman063199d ago

The old strategy pretty much served the end line of the shareholders...MONEY!!! Now, EA is trying to gain a reputation as a publisher/developer that actually creates NEW IP's. That is a great strategy...but there isn't instant gratification...which is what pleases the shareholders. I HOPE that EA sticks to it's guns and keeps getting new franchises. But, chances are that they will return to the money making strategies of old...gamers be damned!!!

Cajun Chicken3200d ago

They shut Pandemic down for no real apparent reason, not happy by that decision.

Elven63200d ago

No studio is ever shut down without a reason, the studio either isn't meeting internal expectations (which was rumored to be a reason for Pandemic), wasting too much money, etc.

In the case of EA people are basically saying Pandemic management ran the company into the ground. Whether that is true or not I don't know, a few ex employees posted it on Neo Gaf.

Bathyj3200d ago

Thats kinda sad. Kinda REALLY sad that things started going so wrong for them at the same time they actually atarted doing right by gamers.

EA really turned alot of gamers opinion of them around a couple years ago with these fresh new titles, but it appears the industry doesnt want freshness. They want stagnant, stale, rehash after rehash.

Its the same ill fate Sony suffers, even thought the Sony exclusives sell well in the end, they dont get the monster sale of lesser games cranked through the cookie cutter press like CoD and Guitar Hero.

Hey, dont blame me. I bought Mirrors Edge, Dead Space and most of the Sony games.

PandemicPrawn03200d ago

I think it's only a matter of time before we see it bought out buy a company like Disney.

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