Electronic Arts, the world’s largest game publisher, expecting disappointing holiday sales, says it will cancel some projects as well as reduce its workforce by more than the 6% announced in October.

By Alex Pham (LA Times)

Once considered impervious to a stormy economy, the video game sector is starting to show signs of strain.

Electronic Arts Inc., which produces such franchises as the Sims and Madden NFL, said Tuesday that it probably would miss sales and profit targets for its fiscal year because of disappointing holiday sales in North America and Europe.

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It may be hard to believe that professional sports in America are now feeling the recession. The Yankees are still willing to shell out $160 million dollars to pitcher CC Sabathia. And you’d think TV ad budgets for sports will stay steady. Presumably, more fans will tune in for a distraction from all of the negative financial news. People are still paying for diversions and treating one’s family with tickets to the game is a lot cheaper than hopping on a plane.

Yet even the mighty NFL today announced 150 job cuts. Apparently football’s finance’s are still strong but uncertainty over 2009 is prompting the league to play it conservative. 

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The economic agendas of hopefuls and woeful market conditions have many of us consulting our financial sources, like Forbes Magazine, more than ever. 

Globally, we are tailoring our portfolios and lifestyle silhouettes to ensure our security during the looming “recession.” In the midst of the of the shuffle and high on aspiration, I was introduced to the “Forbes Life”, a lifestyle section supplement to Forbes Magazine. 

By Jesse Mills | Continue Reading »