Well, since this topic has now arisen, here is some of the Austrian press coverage of recent events at Jowood. The articles are all taken from "Die Presse", one of the two Austrian quality newspapers.
17.12.2004
JoWood supervisory board resigns.
http://www.diepresse.at/Artikel.aspx?channel=h&ressort=he&id=456915&archiv=false
(note: Austrian company law follows the German, not the US model - therefore, company management is bifurcated, there being an executive and a supervisory board).
This article mentions a dispute between shareholders and contains the following interesting bit:
"A group of investors is now pushing for cooperation with large distributors, such as German Ubisoft or the US-giant Electronic Arts, which could lead to JoWood being reduced to a pure development house. Long-term shareholders plead for a continuation of the present strategy, in the course of which JoWood could itself be elevated to a large gaming brand." (my translation, please forgive inaccuracies)
15.01.2005
JoWood shocks investors
http://www.diepresse.at/Artikel.aspx?channel=e&ressort=fk&id=460767&archiv=false
This article mentions a decline in JoWood's share price following an announcement that neither their turnover nor their net profit goals would be met. JoWood is said to expect losses of a one-digit million euro amount. Furthermore, the article gives the names of the members of the new supervisory board. Among these is Andreas Rudas, a former social democrat politician who is now working for Magna, a large Canadian car part producers (founded by Austrian emigrant Frank Stronach).
20.01.2005
Gambling with JoWood shares
http://www.diepresse.at/Artikel.aspx?channel=e&ressort=fn&id=461449&archiv=false
This article reports a strong fluctuation in JoWood's share price, with a downward tendency.
22.01.2005
Game over for JoWood founder Tobler.
http://www.diepresse.at/Artikel.aspx?channel=e&ressort=eo&id=461878&archiv=false
This article mentions that Mr. Tobler had been blamed by major shareholders for errors in JoWood's international strategy at an extraordinary shareholders' meeting on 14. January). It concludes that Mr. Tobler had lost the internal battle against a Mr. Pistauer, who had joined JoWood in 2003 to save it from bancruptcy. Mr. Tobler is replaced by a Mr. Albert Seidl, an investment banker.
26.01.2005
JoWood: Two sites awaiting closure.
http://www.diepresse.at/Artikel.aspx?channel=h&ressort=he&id=462467&archiv=false
According to this article, JoWood will close down two sites: one at Ebensee in Austria, and its German subsidiary Wings Simulations in Hattingen. It further mentions that JoWood would in the future focus on strategy games, simulations and RPGs.
From what I gather, there is no reason for joy - JoWood is in a crisis, and it is now run by some bankers and an incapable ex-politician. Not the stuff good RPGs usually are made of, but I wouldn't mind if they surprised me.[/b][/url]