A $31 billion investment isn't something that should be undertaken lightly, especially when financial markets are imploding across the globe. So it was with no uncertain shock that Capcom discovered last night that Swiss banking giant UBS AG had placed a ¥3 trillion ($31 billion) order for...
A $31 billion investment isn't something that should be undertaken lightly, especially when financial markets are imploding across the globe. So it was with no uncertain shock that Capcom discovered last night that Swiss banking giant UBS AG had placed a ¥3 trillion ($31 billion) order for convertible bonds in the publisher, a transaction that would have been the biggest ever on the Tokyo Stock Exchange.
As explained by Capcom on its official blog, "The official Capcom happy-dance began when we heard that financial titan UBS AG placed an order for 3 TRILLION yen (that's 31 billion bucks!) in Capcom stock yesterday. We were unfortunately forced to reveal that there, um, isn't ¥3 trillion worth of Capcom stock for sale, so they revised their order to a measly ¥31 million."
Reuters reports that the errant trade was the result of a computer system error, and that UBS had intended the buy to be ¥31 million ($314,000) all along. As the order was reportedly placed by way of an off-hours trading system, it had no material impact on the game publisher and was canceled at no cost to UBS.
I seriously doubt the error came from a computer...more likely it was the result of some off-hours employee slip up.
RAIDEN -- Capcom can't buy anyone with $314k...did you read what the article said or just read the headline? I thought so.
Gamestupid Posted Feb 26, 2009 5:56 pm CT lol, sorry Capcom no 31B. uh just wondering, im too lazy to do the math but how much yen does it take to equal up a dollar?1 U.S. dollar = 97.2762646 Japanese yen... You're welcome but you could've googled itDon't know why but I completely forgot about that scene from Dark Knight.
@PSdual_wielder If u read it carefully, it says it was a computer error. NOT their documents. @ Tremblay343 you're thinking about Bank CEOs, not Game Company CEOs, get it straight guy.
Damn.....a 31 billion investment could have had us swiming in capcom titles for years to come! 31 million....thats like the water that builds up when yor in the shower and the drain is plugged, barely enough to get your feet wet.....
You'd think being a world bank and all they would revise their documents properly before sending it out.
LOL, joker can simply burn away money~ More detail please! the news are too short, I barely get any info's, UBS are still a mystery to me, never even cared much about some banks anyway. So, UBS is some stupld bank? In the end, the deal was cut, because UBS computer accidently wrote 31B which was supposed to be 31M? No harm done toward UBS then?
Wow! that would have been a nice deal for a great company like Capcom. In these tough economic times though every little bit helps!.
"Wow this just shows that Bankers don't noe what they're doing and are profitting over our hard earned cash! Ppl wake up!" Did you read it? COM-PU-TING ER-ROR! No one was profitting on anything, especially since it was done on an OFF-HOURS TRADING SYSTEM.
Wow this just shows that Bankers don't noe what they're doing and are profitting over our hard earned cash! Ppl wake up!
"he errant trade was the result of a computer system error" yeah, error. . this only shows how bankers have no idea of what they are doing. . rofl
Lamprey263, it's not just Holocaust victims. They've been helping wealthy people around the globe evade taxes by hiding their assets in Swiss banks. Not to mention dictators like Marcos in the Philippines, Suharto in Indonesia, etc, store a lot of the money they've stolen in Swiss banks. I really, really hope they screw up these Swiss banks.
UBS was just in the news the other day because the US Justice Department is starting criminal investigations into people that avoided paying their taxes by hiding their money with this overseas bank. The article said it could cause UBS to collapse by effecting its liquidity. I honestly could care less, these Swiss banks tried hard to hoard the assets of victims of the Holocaust, not to mention went to great lenghts to conceal their involvement in the trafficking of Nazi gold, they can burn in hell for all I care.
The 3 trillion money they just needed to get rid off, since it belongs to all these guys trying to hide it from the US tax guys. They didn't go low enough when they were filing their stuff away, looks like UBS gurus stopped at Capcom when in reality they were looking for Criminal.....
It's not in particular about Joker, but the mass amount of money he is burning. All about this massive intent of spending that got nerfed a by a lot. Good job computers, way to count your decimal places. =p
Thats actually kinda funny. Thats a pretty big mistake, hope someone got fired. Oh and GameS the Yen is trading at 98.3 Yen per US Dollar, to make the number clear the Euro is trading at .78 per US dollar. Hope that helps.
lol, sorry Capcom no 31B. uh just wondering, im too lazy to do the math but how much yen does it take to equal up a dollar?
That's a huge "Whoops!" on UBS' part lol. Glad things got settled though. Unfortunate Capcom got their hopes up though. They deserve a break like $31 billion.
Heh, Capcom I'm sure would loved to have itself bought out by a banking firm for 31 billion. There is an issue however that depending on how much 314000 dollars of stock buys them, a Swiss bank has a stake in a game company, which means at investors meetings you get a company that doesn't exactly deal with video game franchises or ideas.
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