HDTV News Poster
11-27-2008, 07:02 AM
<div align="center"><a href="http://www.bloomberg.com/apps/news?pid=20601101&sid=aRr85xx1mhgI&refer=japan"><img vspace="4" hspace="4" border="1" alt="" src="http://www.blogcdn.com/www.engadget.com/media/2008/11/11-3-08-susumu-kotani.jpg" /></a><br /></div>
As the flagging economy wreaks havoc on just about every mega-corp out there, the latest to publicly admit to being affected is Pioneer. After posting a <a href="http://www.engadgethd.com/2008/05/14/pioneer-and-hitachi-post-losses-point-the-finger-at-plasma/">rather significant loss</a> earlier this year, the company is now guiding to a wider-than-forecast net loss of ¥78 billion ($789.9 million) for the year to March 31, blaming the surging yen and the slowing <a href="http://www.engadgethd.com/2008/10/14/analysts-say-hdtv-sales-could-decline-in-current-economy-snow-c/">economy</a>. The company is <a href="http://www.engadgethd.com/2008/03/07/pioneer-officially-ends-in-house-plasma-production-kuro-lcds-co/">scheduled to nix</a> its unprofitable plasma-panel operations by February and slash 2,000 jobs this fiscal year in order to counter the bleeding, and it looks as if former president Tamihiko Sudo is one of the first bigwigs to fall. As of November 16th, Susumu Kotani (pictured right) will take over that role, though we can't imagine he's looking forward to grabbing the captain's chair in such a turbulent environment.<br /><br />[Via <a href="http://www.pcworld.com/businesscenter/article/153036/pioneer_forecasts_deeper_fullyear_loss_replaces_pr esident.html">PC World</a>, image courtesy of <a href="http://cache.daylife.com/imageserve/018J3PsePj4z7/610x.jpg">DayLife</a>]<p>Filed under: <a href="http://www.engadget.com/category/displays/" rel="tag">Displays</a>, <a href="http://www.engadget.com/category/gps/" rel="tag">GPS</a>, <a href="http://www.engadget.com/category/hdtv/" rel="tag">HDTV</a>, <a href="http://www.engadget.com/category/homeentertainment/" rel="tag">Home Entertainment</a></p><p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.engadget.com/2008/11/03/pioneer-forecasts-even-wider-net-loss-names-new-president/">Pioneer forecasts even wider net loss, names new president</a> originally appeared on <a href="http://www.engadget.com">Engadget</a> on Mon, 03 Nov 2008 16:35:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://www.bloomberg.com/apps/news?pid=20601101&sid=aRr85xx1mhgI&refer=japan>Read</a>*|*<a href="http://www.engadget.com/2008/11/03/pioneer-forecasts-even-wider-net-loss-names-new-president/" rel="bookmark" title="Permanent link to this entry">Permalink</a>*|*<a href="http://www.engadget.com/forward/1360928/" title="Send this entry to a friend via email">Email this</a>*|*<a href="http://www.engadget.com/2008/11/03/pioneer-forecasts-even-wider-net-loss-names-new-president/#comments" title="View reader comments on this entry">Comments</a>
Link To Original Article (http://www.engadget.com/2008/11/03/pioneer-forecasts-even-wider-net-loss-names-new-president/)
As the flagging economy wreaks havoc on just about every mega-corp out there, the latest to publicly admit to being affected is Pioneer. After posting a <a href="http://www.engadgethd.com/2008/05/14/pioneer-and-hitachi-post-losses-point-the-finger-at-plasma/">rather significant loss</a> earlier this year, the company is now guiding to a wider-than-forecast net loss of ¥78 billion ($789.9 million) for the year to March 31, blaming the surging yen and the slowing <a href="http://www.engadgethd.com/2008/10/14/analysts-say-hdtv-sales-could-decline-in-current-economy-snow-c/">economy</a>. The company is <a href="http://www.engadgethd.com/2008/03/07/pioneer-officially-ends-in-house-plasma-production-kuro-lcds-co/">scheduled to nix</a> its unprofitable plasma-panel operations by February and slash 2,000 jobs this fiscal year in order to counter the bleeding, and it looks as if former president Tamihiko Sudo is one of the first bigwigs to fall. As of November 16th, Susumu Kotani (pictured right) will take over that role, though we can't imagine he's looking forward to grabbing the captain's chair in such a turbulent environment.<br /><br />[Via <a href="http://www.pcworld.com/businesscenter/article/153036/pioneer_forecasts_deeper_fullyear_loss_replaces_pr esident.html">PC World</a>, image courtesy of <a href="http://cache.daylife.com/imageserve/018J3PsePj4z7/610x.jpg">DayLife</a>]<p>Filed under: <a href="http://www.engadget.com/category/displays/" rel="tag">Displays</a>, <a href="http://www.engadget.com/category/gps/" rel="tag">GPS</a>, <a href="http://www.engadget.com/category/hdtv/" rel="tag">HDTV</a>, <a href="http://www.engadget.com/category/homeentertainment/" rel="tag">Home Entertainment</a></p><p style="padding:5px;background:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.engadget.com/2008/11/03/pioneer-forecasts-even-wider-net-loss-names-new-president/">Pioneer forecasts even wider net loss, names new president</a> originally appeared on <a href="http://www.engadget.com">Engadget</a> on Mon, 03 Nov 2008 16:35:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://www.bloomberg.com/apps/news?pid=20601101&sid=aRr85xx1mhgI&refer=japan>Read</a>*|*<a href="http://www.engadget.com/2008/11/03/pioneer-forecasts-even-wider-net-loss-names-new-president/" rel="bookmark" title="Permanent link to this entry">Permalink</a>*|*<a href="http://www.engadget.com/forward/1360928/" title="Send this entry to a friend via email">Email this</a>*|*<a href="http://www.engadget.com/2008/11/03/pioneer-forecasts-even-wider-net-loss-names-new-president/#comments" title="View reader comments on this entry">Comments</a>
Link To Original Article (http://www.engadget.com/2008/11/03/pioneer-forecasts-even-wider-net-loss-names-new-president/)