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Print 25 comment(s) - last by Breakfast Suse.. on Jan 19 at 8:09 PM

Sony sells NYC HQ, but will stay in building for now

Sony has announced that it will be selling off its 37-story New York headquarters to a group of investors led by the Chetrit Group. The deal will see the building sold for $1.1 billion and Sony says that it will generate net cash proceeds of about $770 million after it pays debit associated with the building and other costs associated with deal.

Sony won't be moving out of the building, however; Bloomberg reports that Sony will remain in the building for up to three years.
 
Sony continues to face difficult times as it sells assets and slashes jobs as it battles its fourth straight year of losses. Things are looking up a bit for Sony as it is predicting $223 million (¥20 billion) in profit for the fiscal year ending March 31.

That isn't a lot of profit for Sony, but it's vastly improved from the ¥457 billion loss Sony posted in the previous fiscal year. Sony did note that it would be reevaluating its forecast for its fiscal year after the sale of the building.

The sale of Manhattan property saw Sony's stock price rise 12% to close at ¥1149 per share at the close of Tokyo trading. That marks the biggest gain for Sony stock since October 14, 2008. 

Source: Bloomberg



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Sony sucks
By Richard875yh5 on 1/18/2013 9:12:41 AM , Rating: 2
For me, it was inevitable that Sony would be in financial trouble someday. I have not bought a Sony product for over ten years. My last purchase was an external DVD player/recorder) (over $400.00). It could not make a DVD copy w/o errors. Sent to CA for repairs, but it never got repaired. Even their software picked up the errors, but they insisted the unit was okay.

Needless to say, I will never buy a Sony product.




RE: Sony sucks
By retrospooty on 1/18/2013 9:52:32 AM , Rating: 1
I hear ya... I made the same resolution many years ago. I then broke it and got a PS3 because a few of my best friends were on it and we wanted to be able to do multiplayer. I then got a Sony Blue ray player , only becasue it was on sale and cheaper than any other player at the time. Big mistake, it cant load 1/2 the Blue ray's you put in it... I swore that was it, never EVER again... Then I saw the Experia Z. It's as good as any of the 5 inch 1080p Android phones, but also waterproof. Dammit. I know i will regret it if I get it, but I want it.


RE: Sony sucks
By bug77 on 1/18/2013 9:57:36 AM , Rating: 2
How many phones have you sunk recently, so that you need a waterproof one?


RE: Sony sucks
By Omega215D on 1/18/2013 1:17:49 PM , Rating: 2
Rain happens. Sometimes for work I'm also dealing with a bit of moisture so it would be nice to use my phone without worry.


RE: Sony sucks
By FITCamaro on 1/18/2013 1:25:34 PM , Rating: 3
Lol. Be honest. You've dropped your phone in the toilet.


RE: Sony sucks
By mugiebahar on 1/18/2013 3:11:31 PM , Rating: 2
LMOA, that's gross but funny. Question being, how many would get the phone back? After of course dropping a few in the toilet first? Be honest.


RE: Sony sucks
By V-Money on 1/18/2013 4:41:33 PM , Rating: 2
Quick question, if you dropped your phone in the toilet would you pull it out and try to save it?

My answer, depends. If it were my toilet I would, a public toilet, I would be in the market for a new phone.


RE: Sony sucks
By xti on 1/19/2013 9:21:23 AM , Rating: 2
you dont flush before you use a public toilet? interesting.


RE: Sony sucks
By Omega215D on 1/18/2013 5:24:26 PM , Rating: 2
Heh, I'm the type of person that never handles any electronics in the bathroom.

Whether I'm doing forensics work or having some down time between rally stages the chances of me encountering falling water is pretty high.


RE: Sony sucks
By retrospooty on 1/18/2013 2:41:42 PM , Rating: 1
None... And I live in AZ where it hardly ever rains. I just want it, LOL.


RE: Sony sucks
By PeaJay on 1/18/2013 10:38:28 AM , Rating: 1
I had the same problem, bought one on sale at Best Buy - used it for about a year. Then it stopped playing some new BD discs. I was flipping through the setup menus and noticed there was a selection for Network Update. I plugged a cable into the ENet port at the back - downloaded and installed the firmware updates - happy days - I can play all of my new BD discs!

Maybe you're having the same problem?


RE: Sony sucks
By kattanna on 1/18/2013 11:47:28 AM , Rating: 2
same here. it suddenly stopped playing disks from netflix, did the update.. after buying a new cheap blue ray player and it died.. and things are good to go.

it also handles netflix streaming WAY better then that other cheap POS


RE: Sony sucks
By retrospooty on 1/18/2013 12:40:50 PM , Rating: 2
No, Mine was that way from day one, only on certain DVD's. The firmware update at the time didnt fix it, nor did the fw update I did a month ago. It was from best buy though.


RE: Sony sucks
By Omega215D on 1/18/2013 1:20:38 PM , Rating: 2
I've had 2 PS3s so far and both have lens issues without any abuse on my part.

The first one stopped working while in the middle of GT Academy in which I lost a nice opportunity to get more into the racing scene. Sony said I would have to pay for the repairs even though it was barely a year old. Since the PS3 is shared with my brother I had to get another one so he wouldn't complain about not playing his purchased games. Now the new unit is beginning to have some read issues.


RE: Sony sucks
By Nortel on 1/18/2013 10:35:05 AM , Rating: 2
I completely agree. From TVs, speakers, receivers, cameras, personal audio, computers, phones, tablets, etc... they are all terrible. It's almost as if as soon as Sony reached the "Trinitron" era, they completely stopped trying.


RE: Sony sucks
By LRonaldHubbs on 1/18/2013 11:49:51 AM , Rating: 2
While I dislike Sony as a company, and I can agree that they've been milking their brand recognition in recent years rather than innovating, I have to admit that I've had good luck with their products. My Walkman portable cassette and CD players still work to this day, granted they haven't seen use in some time. I've got an 8-year-old Sony stereo receiver in my basement which still sees regular use. And in the pre-smartphone days Sony-Ericsson phones were quite good. Actually, the phone I use right now is a Sony Ericsson Xperia Pro. I bought an unlocked one on Amazon about a year ago because it's compact (3.5") Android phone with a physical keyboard and gets great battery life. Yeah it's outdated, but it's a great phone and I don't have to pay for a data plan this way. So in summary, YMMV.


RE: Sony sucks
By LRonaldHubbs on 1/18/2013 11:53:49 AM , Rating: 2
RE the Walkman, it's this one:
http://assets.vr-zone.net/10137/sony.jpg
I still have it around here somewhere...


RE: Sony sucks
By TimTebow on 1/18/2013 10:51:44 AM , Rating: 2
I haven't given up on Sony yet - while I agree they fumble the ball way too much I still think they have a shot at getting back on top - I think the
Psp is the best handheld gaming system out there, their Tv's, speakers, and laptops are just as good as anybodies albeit perhaps more expensive for what your getting and the new Xperia actually looks really nice. They just need to change things up and get back in front of the train wreck they are currently driving...I dont see them taking on Apple or Samsung anytime soon but seems to me like 3d place is wide open.


RE: Sony sucks
By Nortel on 1/18/2013 11:02:48 AM , Rating: 1
You could make an argument for TV's and maybe laptops but their speakers are hands down the worst in the industry, even Bose trash is better.


RE: Sony sucks
By spread on 1/18/2013 12:11:39 PM , Rating: 2
Wait! Don't go! Sony is working on new DRM and proprietary accessories lock you in.


RE: Sony sucks
By FITCamaro on 1/18/2013 1:26:33 PM , Rating: 2
Yeah that is the main area Sony has yet to learn from. Proprietary formats that run at least 2x as expensive as standard formats.


RE: Sony sucks
By kmmatney on 1/18/2013 3:05:49 PM , Rating: 2
My experience with Sony is the more you pay, the worse the product is. My Mom bought a top modle SONY LCD rear projection TV for $3000 (8 years ago), and it died after 3 years. The cost to repair was more than it would cost to get a new TV. I bought the cheapest model for $1200 around the same time, and it still going strong - only needed to replace the lamp once. My top end Sony studio earphones broke after about 5 years, while my cheap $15 MDR headphones have lasted 20 years so far.


RE: Sony sucks
By drlumen on 1/18/2013 4:44:34 PM , Rating: 2
Likewise here. The only exception I made was for the PS2 I bought years ago and Sony Vegas.

Vegas was rock solid in years past and it was really hard to make it crash but now it gets buggier with each release.

Some people still swear by the Sony pro gear. Even if I could afford and had the inclination to buy their pro gear I would be suspicious of it.


RE: Sony sucks
By Schadenfroh on 1/19/2013 11:05:11 AM , Rating: 2
Their consumer electronics business is screwed, they should sell it off to a random Chinese company and focus on their other business sectors (e.g. movies, music, professional A/V, etc).


RE: Sony sucks
By Breakfast Susej on 1/19/2013 8:09:16 PM , Rating: 3
The viability of electronics manufacturers is such a precarious business. Watching the rise and fall of companies like this is almost surreal.

It's fascinating to me to watch these companies grow and grow in size and popularity to inevitably have their bubble burst.

A few years back I would have said for example that it was completely inconceivable (yes you can do that in the princess bride voice) that Microsoft could ever be supplanted as the giant they are. Yet now I could envision it, after watching companies like RIM and Sony stagnate and go downhill so drastically.


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