Eve Online Employees Paid in Foreign Currency During Economic Meltdown
Eve Online Employees Paid in Foreign Currency During Economic Meltdown
August 10, 2009
Employees of Eve Online developer CCP Games were paid in foreign currency during Iceland's economic meltdown in late 2008/early 2009.
gamesindustry.biz reports that the unusual action was taken due to wild fluctuations in the value of Iceland's krona. CCP Executive Producer Nathan Richardsson told gi.biz:
What really was the problem for us was how many of our employees were hit by the [financial] crisis...
We're not out of the woods yet, not by a long shot, but at the very least we could leverage part of CCP's infrastructure that you wouldn't normally think would benefit your employees - allowing people to be paid in foreign currency, for example, makes it much more stable for people looking towards the future - when being paid in Icelandic Krona was still fluctuating by a few per cent here and there, it was very volatile and you can't really work with that kind of currency.
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Posted 07/30/10 at 10:25am
ZippyDSMlee: No lan too but that will be hack in, with 2X maps its as big as SC,so....want more now ;P
ZippyDSMlee: No lan too but that will be hack in, with 2X maps its as big as SC,so....want more now ;P
Posted 07/30/10 at 10:19am
Rodrigo Ybáñez García: @Cheater: Thank you, I´ll try it later. It happened after I installed the new upgrade, btw
Rodrigo Ybáñez García: @Cheater: Thank you, I´ll try it later. It happened after I installed the new upgrade, btw
Posted 07/30/10 at 01:27am
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Posted 07/29/10 at 10:53pm
E. Zachary Knight: Zippy, I thought SC2 was only 1/3 of a game? ;)
E. Zachary Knight: Zippy, I thought SC2 was only 1/3 of a game? ;)
Posted 07/29/10 at 08:59pm
ZippyDSMlee: SC2 is god! BOW DOWN TO SC2!
ZippyDSMlee: SC2 is god! BOW DOWN TO SC2!
Posted 07/29/10 at 07:50pm
Cheater87: Garcia that sounds like a A/V problem. Try turning the TV on and off or doing that with the AV changer. Thats how I fix mine.
Cheater87: Garcia that sounds like a A/V problem. Try turning the TV on and off or doing that with the AV changer. Thats how I fix mine.
Posted 07/29/10 at 06:50pm
Andrew Eisen: The urinals now have floor mats!
Andrew Eisen: The urinals now have floor mats!
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Rodrigo Ybáñez García: My PS3 is having some kind of failure. The sound is still there but the image is totally out...
Rodrigo Ybáñez García: My PS3 is having some kind of failure. The sound is still there but the image is totally out...
Posted 07/29/10 at 03:39pm
ZippyDSMlee: SC2!!SC2!!!SC2!!!!!!
ZippyDSMlee: SC2!!SC2!!!SC2!!!!!!
Posted 07/28/10 at 02:45pm
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Posted 07/28/10 at 09:49am
Rodrigo Ybáñez García: He blames the internet, but not his abusive mother.
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Posted 07/28/10 at 09:48am
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Posted 07/27/10 at 02:49pm
E. Zachary Knight: Holy Awesome Game Trailers Batman. Superman heat visioning people in the face and Jedi using Hadouken. Awesome.
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Posted 07/27/10 at 01:36pm
ZippyDSMlee: Ah I didnt see it down there :P
ZippyDSMlee: Ah I didnt see it down there :P
Posted 07/25/10 at 01:51pm
ZippyDSMlee: Cheater87:I do not think they see the need for it its a shame its more needed than E10.....
ZippyDSMlee: Cheater87:I do not think they see the need for it its a shame its more needed than E10.....
Posted 07/24/10 at 08:19pm
Cheater87: Zippy I sent them an email about a 15 age category a year or so ago and they said they had no plans for one at the moment. I'll send another one and see if they respond back again.
Cheater87: Zippy I sent them an email about a 15 age category a year or so ago and they said they had no plans for one at the moment. I'll send another one and see if they respond back again.
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Comments
Woo, eve news.
CCP is one of the driving forces behind the Icelandic economy right now. The CCP annual eve meetup in Reychavik brings so much income into the country that it's practically treated as a national event.
That's what you get when you have a very small (320k inhabitants total, most of them in the capital) but rather rich country with a very open financial system.
Speculation literally drove the country to the brink of bankruptcy.
Right now CCP is probably one of the largest sources of non-icelandic currency in Iceland, making the company pretty important to recovery, FanFest will bring hundreds (if not thousands) of tourists to Iceland for a couple of days, which won't be an insignificant capital injection for the local economy.
I'll be visiting FanFest for the first time myself this year, from what I've seen it's a good deal cheaper to go this year than it was in previous years.
(As an example, the Krona was worth almost twice as much last year, compared to today)
I thought Finland has a lot of natural resources backing them up, and banked. Or is it Switzerland I am thinking of.
It's a typo, the meltdown should refer to Iceland not Finland.
Um, what?
CCP is in Iceland.
Finland hasn't had Krona as currency since 1809: http://en.wikipedia.org/wiki/Finland#Swedish_era_.281249.E2.80.931809.29
-- http://pixelantes.blogspot.com/
Exactly, the correct currency is the Krona, but it IS Icelandic, not Finnish. That's why the Currency of Eve is ISK, because that's the abbreviated name of the Currency in Iceland.
http://en.wikipedia.org/wiki/Gameplay_of_Eve_Online#Economy
That and in EVE it stands for Interstellar Kredit, or ISK for short.
But I assume it should be Iceland, since that's where CCP is based, not Finland.
Although I could see them paying out in Euros or any other stable currency in a period in which the Krona was essentially in freefall.
I'd be so proud if Eve Online was Finnish.
"Finnish Krona"?
WTF?
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"Science asks how, and faith asks why"
I really wouldn't mind if some eve players were put in charge of world economies.
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Believe in something! Even if it's wrong, believe in it!
GET OFF MY PHONE!
-Glenn Beck
You do realise that EVE traders are, in terms of the game's background, ruthless hyper-capitalists of the kind that got us into this mess in the first place? That may not be such a good idea.