Record $10 billion annual loss for Panasonic.

I know guys, it’s not really the best news to start the weekend. But here it is. After Olympus also Panasonic announced a “record $10 billion annual loss” (Source: Reuters). The problem is the shrinking TV market. Also Sony and Sharp are having huge troubles within that segment. There is no word about the digital camera business and I don’t think their (major) problems have to do with that. The global crisis, the strong YEN and maybe the now (too) conservative handling of Japanese companies are the main cause. Almost all Japanese companies are facing tuff times.

A personal addition: The crisis affects the life around me too. It’s not just a perception, I see that around me prices of houses are falling, companies not paying bills and friends losing jobs. It’s hard to think how we should act and what we need to change. My girlfriends best friend lives in Greece and I get so many bad news form there. I will be there in September for a very personal short documentary about those friends. I want too understand more!