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CCP and the Credit Crunch

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Author	Thread Statistics \| Show CCP posts - 1 post(s)
John McCreedy Caldari Eve Defence Force	Posted - 2008.10.06 19:18:00 - [1] I know this isn't really the place for an OOC post but given the potential seriousness of the situation, I am hoping CCP can respond with a statement in a place that will give the widest possible coverage. If not here, then at least in a Dev Blog. With news today that the Icelandic goverment is quote "Battling to save their economy" and their currency, the Icelandic krona having lost roughly 30% of its value since the begining of the year, as well as their Prime Minister, Geir Haarde, announcing a bill, which is supported by opposition parties, that would allow the government to push through mergers between the battered Icelandic banks or force them to declare bankruptcy and questions being asked if Iceland is facing economic meltdown, how does this, if at all, effect CCP's financial stability and what that in turn might mean for the future of Eve Online? Yes, I realise CCP is not a financial institute but like any business, it relies on banks and quite possibly a line of credit which, should the financial institute they bank with go under, could have serious implications for CCP and by extension, Eve Online. So given the current speculation about the Icelandic economy and the wider Global "Credit Crunch", it would be helpful if CCP could give us, their customers, some reassurances on their current financial status. Please don't reply if the best you can do is flame and please do take this seriously because this is a potentially serious chain of events that could effect us all. Not all men are made equal
Andrue Amarr	Posted - 2008.10.06 19:21:00 - [2] Edited by: Andrue on 06/10/2008 19:23:14 Yes. We know. It's being discussed in Out of Pod experience since late last week. As for it being serious and/or the financial impact - that's a matter for CCP and its staff. Millions of people around the world are at risk from the credit crunch in one way or another. You need to get a little perspective. Iceland isn't the only economy with problems. Most of the first world has issues. -- (Sarcastic mission running veteran, 4+ years) [Brackley, UK] My budgie can say "ploppy bottom". You have been warned.
Solomon XI Hoist The Colors.	Posted - 2008.10.06 19:22:00 - [3] Wow ... that's deep. Good point, though. /me awaits a CCP response with anticipation. ~Solo Hoist The Colors. (CEO) Pirate Coalition (Yar?)
Hype Hamfist Minmatar Dromedary Goat Albatross and Fish	Posted - 2008.10.06 19:23:00 - [4] http://oldforums.eveonline.com/?a=topic&threadID=889768 ____________________________________________ It is midnight at the Well of Souls
Complete Tart Gallente University of Caille	Posted - 2008.10.06 19:46:00 - [5] Originally by: Hype Hamfist http://oldforums.eveonline.com/?a=topic&threadID=889768 you fail in so many ways
Sleepkevert Amarr Rionnag Alba Triumvirate.	Posted - 2008.10.06 19:47:00 - [6] Originally by: Complete Tart Originally by: Hype Hamfist Fixed linkage you fail in so many ways So do you for not fixing it. _ Add your own line!
Yakia TovilToba Halliburton Inc.	Posted - 2008.10.06 20:10:00 - [7] Originally by: John McCreedy ... their currency, the Icelandic krona having lost roughly 30% of its value since the begining of the year... Since CCP receives the very most of it's income from countries outside Iceland, this isn't neccessarely bad for CCP. _________ My e-peen
John McCreedy Caldari Eve Defence Force	Posted - 2008.10.06 21:00:00 - [8] Originally by: CCP Prism X You don't need to worry about CCP as all our revenue is in Euros and Dollars. If you really want to sympathize think about our poor non-icelandic employers who are paid in ISK yet have financial obligations, like student loans, in another currency. That really hurts right now. But no worries, CCP has weathered worse and has no intentions of falling short this time around. It might of been discussed for a week in the Out of Pod forum but today was the largest global stock market crash in twenty years and given that in the last two weeks numerous U.S. and European banks have failed, some of them rather large financial institutions, and U.S. regulators are bracing for dozens of American banks to fail over the next year, that's hardly a reassuring message. If you want to move this to OOP forum then go ahead but it would be helpful if a more senior (i.e. Board level) member of CCP gave some kind of statement to reassure us that they're not in any danger of going out of business. Not all men are made equal
Malcanis RuffRyders Axiom Empire	Posted - 2008.10.06 21:02:00 - [9] Originally by: John McCreedy Originally by: CCP Prism X You don't need to worry about CCP as all our revenue is in Euros and Dollars. If you really want to sympathize think about our poor non-icelandic employers who are paid in ISK yet have financial obligations, like student loans, in another currency. That really hurts right now. But no worries, CCP has weathered worse and has no intentions of falling short this time around. It might of been discussed for a week in the Out of Pod forum but today was the largest global stock market crash in twenty years and given that in the last two weeks numerous U.S. and European banks have failed, some of them rather large financial institutions, and U.S. regulators are bracing for dozens of American banks to fail over the next year, that's hardly a reassuring message. If you want to move this to OOP forum then go ahead but it would be helpful if a more senior (i.e. Board level) member of CCP gave some kind of statement to reassure us that they're not in any danger of going out of business. CCP are brilliantly placed in the icelandic economy. They're bring in foreign currency and paying their staff in (RL) ISK.
Gamer4liff Caldari Metalworks THE INTERSTELLAR FOUNDRY	Posted - 2008.10.06 21:05:00 - [10] Edited by: Gamer4liff on 06/10/2008 21:05:04 Let's all go shopping in Iceland!
MotherMoon Huang Yinglong	Posted - 2008.10.06 21:21:00 - [11] Originally by: Gamer4liff Edited by: Gamer4liff on 06/10/2008 21:05:04 Let's all go shopping in Iceland! oh wow, with the new lower rent and price of living I assume CCP emplyes are going to get a raise right? Or maybe have thier paycheck changed to pay in USD or EUROs? also I wish I was out of college I would love to go to iceland and start my animation company there now. You know use it to buy cheap forclosed land and buildings and then give some people some jobs that live in iceland. sadly I have neither the skill,money,nor industy rep yet :/ CCP tell your fellow neighbor good luck for me o7
Andrue Amarr	Posted - 2008.10.06 21:35:00 - [12] Edited by: Andrue on 06/10/2008 21:37:27 Originally by: John McCreedy If you want to move this to OOP forum then go ahead but it would be helpful if a more senior (i.e. Board level) member of CCP gave some kind of statement to reassure us that they're not in any danger of going out of business. Why should they? You're missing the point entirely and don't seem able to get a sensible perspective on this. It's a friggin' computer game. Just a silly bit of harmless fun. You pay your subscription and you get a month's access to CCP's servers. Their obligation to you begins and ends right there. No-one but CCP's shareholders and employees has any right to ask for a statement from the company board. As a customer there is no reason for them to do anything other than thank you for your concern and make vague 'there there, don't cry' noises. Your apparent concern is out of proportion and suggests that you need to get a grip. If you are getting worked up over the possible loss of a computer game then you need to reassess your life. There are far more important things to be worrying over. I wish CCP well...but then I wish every company in the world well and wish their employees a long and uninterrupted career. Beyond that..meh. Life is full of ups and downs. -- (Sarcastic mission running veteran, 4+ years) [Brackley, UK] My budgie can say "ploppy bottom". You have been warned.
Del Narveux Dukes of Hazard	Posted - 2008.10.06 21:36:00 - [13] Out of curiosity how bad is it over there? There's a lot of hand-wringing here in the states but nobody's really in danger of losing actual assets (e.g. its a capital-management issue so the risk is to shareholders rather than account holders). _________________ [IMAGE REMOVED] -- aka Cpt Bogus -- Is that my torped sig cloaking your base?
Schani Kratnorr x13	Posted - 2008.10.06 22:07:00 - [14] Edited by: Schani Kratnorr on 06/10/2008 22:12:02 Problems raising capital aside, the foundation of any subscriber based game is it's customers. As long as people keep playing EVE, CCP should be fine. Having said that, most people will choose food on the table over EVE, so I can easily imagine revenues going down, or at the very least stagnate. I dont have a crystal ball, but I have a gut feeling the gravy train has made its final stop. This is far from over. @US citizens, dont forget to register to vote, and actually vote. The next president, whoomever he might be, will inherit the largest deficit ever. Treat this election as seriously as you would remembering to set a skill training... P.S. You guys are SO screwed
Polly Prissypantz Dingleberry Appreciation Society	Posted - 2008.10.06 22:10:00 - [15] I'd say, being an MMO company, that CCP is fairly safe from a local economic crisis, as their primary cash flow is not dependent on the local economy.
Mako Nova	Posted - 2008.10.06 23:29:00 - [16] This is not important. Only the US Dollar is weak right now. The US sucks! Amirite?
DeileonCloneBeta	Posted - 2008.10.06 23:53:00 - [17] Hey John, where's my 10 billion isk you stole from me? Send it to this character, the other one is no longer active. KTHX!
Tomoe Heth Caldari	Posted - 2008.10.07 00:05:00 - [18] Originally by: Yakia TovilToba Originally by: John McCreedy ... their currency, the Icelandic krona having lost roughly 30% of its value since the begining of the year... Since CCP receives the very most of it's income from countries outside Iceland, this isn't neccessarely bad for CCP. Depends on if CCP got big loans in foreign currency. If they do, they're ****ed.
Kagura Nikon Minmatar Infinity Enterprises	Posted - 2008.10.07 02:35:00 - [19] People overreact to this sort of stuff. And in fact alot of the damage is psicological. About 6/7 years Ago we had an economic crisis that reduced our currency value here in brazil to about 27% of previous value. IT was an "all end of world" screaming around. Well now we are better and with an economy MUCH stronger than in past. Its simple fact capitalism economy may not be made so everybody wins. Acceptign that and that 2/3 of the damage are due to fear and psycological effects helps a lot. So by spreading the "its doomed" messages you just help the fire to spread stronger. ------------------------------------------------- If brute force doesn't solve your problem... you are not using enough
PaddyPaddy Nihildarnik Gallente aurorae pacificas	Posted - 2008.10.07 03:00:00 - [20] Originally by: Schani Kratnorr Edited by: Schani Kratnorr on 06/10/2008 22:12:02 Having said that, most people will choose food on the table over EVE THAT'S A GOD DAMN LIE AND YOU KNOW IT!@@@@@@@!@!!!!!!!!!!FFS

CCP Mitnal C C P	Posted - 2008.10.07 05:31:00 - [21] Locked. There are already discussions about this issue in out-of-pod experience. Please go there to continue it. Mitnal Community Representative CCP Games, EVE Online Email / Netfang


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