By Jessica Mintz Feb 24, 2009
Microsoft Corp. reiterated its belief that the economic crisis will persist at least into the second half of 2009 but attempted to reassure analysts Tuesday that it will continue to cut costs and spend wisely. Microsoft shares fell 3 percent in midday trading. Speaking at a meeting in New York, Chief Executive Officer Steve Ballmer said Microsoft is looking to the television maker RCA as a role model. RCA spent money on research and development through the Great Depression, then dominated its market, he said. Ballmer pointed to areas of Microsoft's business that will be hit hardest by the downturn and sketched out the products and projects that will get the bulk of the company's $27.5 billion in annual operating expenses.
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