Evidence that the economy has been ground to a fine powder continues to pile up, and today's brought another batch of bad news. Tales of woe abound, but looming largest is Sony, which announced its 2nd quarter earnings yesterday, then warned today that they expect to post a $1.7 billion loss this year (though we've seen other reports that are now putting the number at well over $2 billion). Additionally, Samsung is expected to post a first-ever quarterly loss when it reports its earnings Friday, which are expected to run somewhere in the neighborhood of a $67.7 million net loss. Moving on, Seagate's also announced a
