The middle of a shortened week is upon us, and almost behind us at this point. This is the Mid-Week Market Rag for Wednesday, September 6, 2006.
Bill Ford resigned as CEO of Ford Motor Company this week, sending a small shockwave through the motor vehicle industry. Shareholders and consumers seem to be waiting for something big to happen, but it has been late in coming. Rumors loom that Ford may sell its credit division and all of its luxury lines as part of its restructuring.
Ford stock was up well over two percent in trading today, indicating investors remain confident despite Ford’s questionable outlook in the future.
Trouble for Sony as they announce more problems with their upcoming Playstation 3 gaming console. Issues with their Blu-ray technology have forced the electronics manufacturer to reduce its worldwide Playstation 3 launch. The Playstation 3 has been marred with poor marketing and marked since inception as the most expensive videogame console ever built–if it ever gets built.
Sony stock was down considerably Wednesday. Playstation 3 is supposed to be the cornerstone of their holiday sales rush, and it is looking like Sony will lose to Microsoft, giving the Xbox 360 manufacturer something to celebrate, finally.
This reporter will hold comment on the Nintendo Wii.
Finally, Apple Computer gets on the market rag this week once again. The Wall Street Journal reported a series of upgrades for the Apple iMac line. The upgrades are targeted at the “<$1000 price point, representing a 23 percent decrease in the standard iMac price.
For those of you who are not necessarily looking for thrift in your next Mac, a 24” iMac will also be available for $1999.
That’s the rag this week. Keep on keeping on!