Take-Two's Big Problems

This is a pretty sobering article if you are long Take-Two.

"Precarious is a pretty accurate word to describe their finances," says
Arvind Bhatia, an analyst with Sterne, Agee & Leach. Bhatia has a sell
rating on the stock and a price target of $12. Sterne Agee makes a market in
Take-Two shares.

The company's situation took a turn for the worse in August when it
said it will push back the release of Grand Theft Auto IV from October this year
to second quarter fiscal 2008, ending April 30.

So pretty much because they delayed this game they might be in tough financial straits going forward. They might also run out of cash and have to draw on their debt for everyday financing. GTA4 better be a massive blockbuster or there might not be a GTA5.