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Microsoft Chief Executive Steve Ballmer said on Tuesday the global financial crisis will sap consumer and business spending, affecting all companies, including his own.
"Financial issues are going to affect both business spending and consumer spending, and particularly ... spending by the financial services industry," Ballmer told reporters on the sidelines of a news conference in the Norwegian capital.
"We have a lot of business with the corporate sector as well as with the consumer sector and whatever happens economically will certainly effect itself on Microsoft," he told Reuters.
"I think one has to anticipate that no company is immune to these issues," he said, but declined to be more specific.
Maybe they can cut back on those stupid vista commercials to save.
On a more serious note, I have some friends that were hired there a year ago, I sure hope it doesn't become last hired, first fired for them.
[edited by: amznVibe at 4:10 pm (utc) on Sep. 30, 2008]
I'm not saying it lightly. I lost a lot in the market and 401k myself, but when a bubble gets ridiculous you need to pop it and rebuild with a solid foundation. Propping a credit bubble with more credit will not be the solution that the mainstream media are selling to us with their coterie of experts.
Journalism used to mean that people with different opinions come on TV to discuss all sides of an issue. Having devoured news shows yesterday, I felt like all the networks, the right and the left, were coming on like ad people selling their latest wares: The Bailout.
We need alternate opinions too.
joined:Jan 3, 2003
[edited by: bill at 2:21 am (utc) on Oct. 1, 2008]
[edit reason] no politics please [/edit]
How will this solve the credit crisis caused by 'toxic mortgages' and high risk loans given to U.S. citizens?
Oh! I got it.. The loans were given because they did not have a job.. the job being shifted to India..
joined:Dec 29, 2003
If a company can sell on year-old machines which cost $1000 new for $600 rather than $400 then they may decide to replace hardware earlier.
I expect IT repairs and upgrades to be quite popular, which is good for a business like mine.
I'm not sure about the near future of online marketing. Will small businesses see it as an effective means of advertising... a way of reducing their costs? Or will they focus on their traditional, tried and tested marketing where they are in their comfort zone?
How will this affect the resale value of computers?
It will drop and I think pretty quickly - Intel and other manufacturers will have to offer very good deals on NEW hardware to tempt buyers, so old computers would look slow.
Noone is immune from this crisis, maybe apart from debt collectors :(
Meanwhile, I make a few bucks keeping older systems humming and that's good for me and the clients.
In my mind a 2 year old machine that cost say $700 is worthless after 2 years as a re-sale. Sure, it's worth something to the user but would you buy a 2 year old bog standard machine, and if you would what would you pay? Me, no more than $150, if that.