Satoru Iwata Takes a 50% Pay Cut, Taking the Blame for Nintendo 3DS Sales

I think this is really the first time we've actually seen Nintendo go down the the wrong side of the road, especially after hearing that Nintendo 3DS, their current "big" handheld, has dropped it's price tag. Not to mention that it was so soon; it's been out for, what will be, 5 months.

During a meeting earlier today, Satoru Iwata of Nintendo told investors why the price cut was so sudden. Iwata acknowledged that it will help retailers at the end of the fiscal year and that it encourages developers to continue developing for the handheld.

Although, that's not the end of it. Iwata also announced that many of Nintendo's higher-ups, including himself, will be getting paycuts. With him being the most notable one, getting 50% cut in his pay, he does state that "other representative directors are taking a 30 percent cut, and other execs are taking a 20 percent cut." Before this, Iwata was getting paid to what was the equivalent of $2 million U.S. Dollars.

THQ Claims 375K First Day Sales for Homefront

THQ is claiming rather impressive first day sales for Homefront. The company claims that it sold approximately 375,000 copies, and that's sold through to consumers not sold to retailers. Brian Farrell, CEO, said the company is "delighted with first day sales" and preparing to ship more copies out to retailers.

At the opposite end of the spectrum, THQ's (THQI) stocks fell 20% on the Nasdaq. This could be because of the mixed and mostly lackluster reviews.

With server issues for many gamers, relatively poor reviews, and other big games still out there, it will be interesting to see if these sale sustain themselves, once we get NPD numbers next month.