After 14 years of profits, Sony posted its first annual net loss for the fiscal year ended March. As part of its plans to turn things around, the company has announced that it will cut the number of its parts suppliers by half in order to slash costs.

Monday morning in Virgina, a 6-year-old kid misses his bus to school. What's a kid to do? He's about to be late! Well, obviously, take your family's car and get your tardy butt to the campus, of course! And that's just what the kid (name undisclosed, so we'll just call him "Lil Nicky" - you'll know why in a bit) did. Aren't kids just amazing these days? If they're not fighting battles in court to legalize hedgehogs, they're driving themselves to school.

*Update* CNN video included!

 Michael Pachter is at it again, analyzing and giving his thoughts on matters concerning the game industry. This time, he laments how much money could have been made if a timely game tie-in to the blockbuster The Dark Knight was released. He says Warner Bros. and EA may have missed out on US$ 100 million. More after the jump.

Atari just received a warning from NASDAQ stating it may be delisted for low stock market value. Even after patching things up with FUNimation, it seems the video game company is in the red once more. Find the details at the full article.

A few hours ago, we reported that Ken Kutaragi, the mind behind Sony's PlayStation consoles, will be stepping down from his post as Sony Computer Entertainment CEO on June 19. A lot of speculation and analysis have surrounded the news, so here's a look at what some analysts have to say about it.

The reason. Both Pacific Crest Securities analyst Evan Wilson and IDC analyst Billy Pidgeon seem to believe that Kutaragi's resignation is due to the PS3's less-than-stellar initial showing. Speaking to Bloomberg, Wilson said that it's "likely an indication Sony corporate isn't satisfied with the initial success of the PS3." Pidgeon, meanwhile, told the Associated Press that "Sony had too much hype and not enough delivery."

Other analysts, though, believe otherwise. "It can't be his fault that the cost of the box was so high, and I have a tough time believing he insisted on Blu-ray," Wedbush Morgan Securities analyst Michael Pachter told GameDaily. "They probably just all agreed it was time to move on. Sony didn't have a great lineup of first party software for the PS3 or the PSP, and didn't get as much third party support this time around.

The replacement. The general concensus among analysts is that Kaz Hirai's move into Kutaragi's old position is a good thing overall for SCE. "I think Kaz Hirai is great, and the company probably doesn't need a visionary for another 10 years," said Pachter. "They need an operations guy, need to drive costs down, and need to develop more software support (internal and external). Hirai will be great at that."

John Taylor of Arcadia Research echoes Pachter's opinion, noting that with Hirai at the helm, Sony might redouble its efforts to make the PS3 - along with future products - more net-centric. "Kaz brings a new level of awareness of Western preferences and technology trends to SCE. He has firsthand experience with dealing with Microsoft's online momentum in the U.S. competitive environment."

While we can understand his sentiment, Senator Barack Obama's choice of rhetoric was a bit stale. Game Politics notes an Associated Press report that mentions his use of gaming as an equivalent to slacking.

According to the Associated Press, Obama was heard saying this at a a recent promotional rally in Austin, Texas:

Obama told the Austin crowd that they should try to recruit their friends to support his campaign. "I want you to tell them, 'It's time for you to turn off the TV and stop playing Game Boy,'" Obama said. "We've got work to do."

It obviously wasn't meant as a literal term, as the senator's been somewhat vocal in getting newer voters to go out and rock the vote (for him, presumably). He previously criticized youth culture as "watching TV, playing video games, and avoiding tough classes in school." Whether or not he wins the elections, we just want to tell him one thing though: "The new handhelds are the DS Lite and PSP. Take your pick for your next performance."