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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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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.


"If you look at the last five years, if you look at what major innovations have occurred in computing technology, every single one of them came from AMD. Not a single innovation came from Intel." -- AMD CEO Hector Ruiz in 2007














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