Electronic Arts' CEO, John Riccitiello, has gone straight-forward and philosophical at the same time. Speaking at the DICE Summit he admitted, "We did get fat in too many places. It seemed like anyone who could draw a guy with a gun with a crayon could get funded. At least for EA, we got a little too fat, and a little too reliant on where things were."
He then addressed the recession (he's not 'pro-recession') by quoting President Obama's White House chief of staff, Rahm Emanuel: "Never waste a crisis."
Source: Gamasutra.