Peter Kafka

Recent Posts by Peter Kafka

Sony Fesses Up, Slashes Its Dividend, Too

howard-stringerDividend cuts are like gigantic write-downs that swept through the corporate world last fall and early this winter: The first few seem like a big deal. But by the end of the run, no one raises an eyebrow.

So Sony’s (SNE) announcement that it will cut its dividend by a mere 15 percent is a real yawner. After all, Sir Howard Stringer’s company has already announced brutal results and a corporate shake-up in recent months. And the dividend cuts aren’t nearly as dramatic, as the ones, say, the New York Times (NYT) or CBS (CBS) have recently unveiled.

Just give it a few more months. At that point, the surprise will be companies that continue to offer any dividend at all.

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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik