Sony's Profit Falls 98% on Weak Demand. Sony reported quarterly profits plunged 98 percent. Nobuyuki Idei, the chairman, said the company has pledged to generate stronger profit margins by 2006.

Is it just me or don't you guys remember a ton of analysts saying about 6-8 months ago that the only thing holding this economy up was consumer spending, which was particularly strong in the consumer electronics area?  Oh yeah, and we had housing.  Housing will save us!  Long live housing!  Thank God there are no problems going on in that sector of the economy!  Whew!  via [New York Times: Business]