Nintendo President Cuts His Salary: "I feel greatly accountable..."

Nintendo President Satoru Iwata is taking 50% out of his paycheck each year, in order to make up for the disappointing 3DS sales, saying

"This little bastard is costing me a ton of money..."

"I feel greatly accountable for having to make the markdown shortly after the launch, for having damaged our consumers' trust, for having made a significant impact upon the financial forecasts, for the annual dividend now being expected to be significantly less than originally expected and for now forecasting that there will be no interim dividend..."

Other developers and executives got together with Iwata, and also decided on taking salary cuts to be able to put more money into making the 3DS what the fans want it to be. Which is really, just a system that has some bloody games. While Iwata himself, took the biggest cut of an estimated 1million US dollars a year, the other devs and execs took 20%-30% cuts.

After the price cut was announced for the system, investors were a little bit wary. Stock prices for Nintendo dropped a little over 12%. Iwata assured his investors that the drop to the new $169.99 system price would be what the 3DS needed to get itself back into the market. He admitted that while, at first, the console will be non-profit because of the price drop, once the games start to pour in the console will take off again. Theoretically. 

It's my opinion that this is a good, and really classy move. Iwata and all the devs and execs who took the pay cuts have really shown the fans that they really want us to be happy and they are going to take efforts to make that happen. I expect to see a lot of work put into the 3DS in the coming months, and maybe a few surprises. Here is to hoping every thing works out, Nintendo.