Summit Notebook

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Zelnick: Welcome to the emergency room

December 4, 2008

Strauss Zelnick, chairman of Take Two Interactive, has a bone to pick with the media: He doesn’t like the two words “Financial” and ”Crisis.” At least not when they are used to describe the current state of economic affairs.

“I don’t think we’re in a financial crisis,” Zelnick said at the Reuters Media Summit. “The use of the word crisis — I’m loathe to be critical of the media since I’m every bit a part of the media — but I don’t think the word has been especially helpful. We’re obviously in a recession and these are very very trying times.”

If not a financial crisis, then what? Well, Zelnick offers up a hospital metaphor. 

“We’re still seeing the car crash, and the ambulences are still showing up at the scene. Maybe we’re in the emergency room, but we’re not even in the intensive care unit yet for a lot of these companies. But they will get there.”

Call it what you like. Either way, It’s not pretty.

(Photo: Reuters)

Comments

wat

Posted by someguy | Report as abusive
 

As Mr. Zelnick’s most abiding critic, allow me to point out to Mr. Zelnick that he is now in the same group of knuckleheads with John McCain, who said the “economy is fundamentally strong.” Nonsense. This genius, Zelnick, has managed to turn down a $26 per share offer from EA to now preside over a company whose stock is worth $7 per share. This guy is giving economic analyses? He should be fired as Chairman, and in fact that, as a Take-Two shareholder, is precisely what I am set to do. Jack Thompson, amendmentone@comcast.net

Posted by Jack Thompson | Report as abusive
 

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