If you throw all the products we buy and the services we use in one basket, then add up the price tag, that's the Gross Domestic Product, which is the primary metric economists use to assess the economic health of a country or region.

The easy part of calculating GDP is the calculation itself: C+I+G+(X-M)=GDP. Got it? No? Well, add Consumption, Investment by companies, Government purchases, and then take the product of eXports (calling it 'E' would lack sexiness) minus iMports ('I' was taken). Viola! GDP.

Still don't get it? Well, knowing the components helps. Consumption is the biggest component, and it's a tally of the cost of all the goods and services we buy. Investment is what companies spend on the real assets they own, plus the value of the inventory that we haven't gobbled up through consumption. Government purchases are what the Feds pay money for (whether it be highways or fighter jets, though big social programs, like welfare, aren't counted). And then we calculate the difference between the goods and services we¿re sending to other countries and the stuff we're bringing in.

Good. That explains it, except there's a catch. Inflation has a habit of distorting the numbers, so economists talk about either Nominal GDP or Real GDP. In fact, Real GDP isn't necessarily "real" for most folks, since it takes any inflation out. Nominal GDP includes the effects of inflation. (There's something called the implicit price deflator which is a calculation using the two, but we'll spare you the details.)

So, now that we know GDP, why do we want to? Well, it's good to compare different markets. And watching the trend shows whether a given economy is growing (good), stagnating (not so good), or shrinking (very not so good). When GDP goes down two quarters in a row, we're officially in a recession.

For the record, GDP is released at the end of each month, with most reporting ¿preliminary¿ data for the previous month. But you won't get final GDP numbers for the fourth quarter of a year until the very end of the first quarter of the next year. After all, it's not an easy number to calculate.

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Tuesday, July 22, 2008

Bally Technologies Forms Innovation Lab; Establishes 'Office of the Chief Technology Officer'

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Comtex

LAS VEGAS, July 22, 2008 /PRNewswire-FirstCall via COMTEX/ ----Bally Technologies, Inc. (NYSE: BYI), a leader in slots, video machines, casino management systems and networked solutions for the global gaming industry, announced today that the Company has formed an Innovation Lab to focus on the research and development of new gaming technologies, features, and products and help accelerate the commercial deployment of the most cutting-edge games and systems technologies of the Networked Floor of the Future(TM).

Bally Technologies appointed Bryan Kelly, Vice President of Technology, as head of the Innovation Lab, which is based in Northern California. Through the Innovation Lab, Kelly will lead Bally's efforts to inspire and synergize development efforts from Bally's entire R&D team, which has tripled in size in less than three years. The lab will research emerging and paradigm-shifting technologies to help ensure that Bally stays at the forefront of the gaming manufacturing and technology industry.

"The Bally Innovation Lab will coordinate and lead our commitment to drive synergy and promote a culture of providing leading technologies and creative, customer-centric products," said Richard M. Haddrill, the Chief Executive Officer of Bally Technologies. "With the growth and leadership of our engineering teams, the flow of ideas is astounding."

"I'm thrilled and honored to lead Bally's Innovation Lab, which will allow us to capitalize on our R&D talent across the globe and accelerate development and deployment of new technology to our customers," Kelly said.

Bally also announced the creation of the Office of the CTO (Chief Technology Officer) to serve as a thought leader on technology. Bally's Office of the CTO will be comprised of these industry powerhouses:

-- Robert Luciano, Bally's CTO, who has returned to Bally part-time after a medical leave. Luciano's distinguished gaming career includes founding Sierra Design Group (acquired by Bally in 2004), which he grew into one of the leading providers of Class II and video lottery gaming devices.

-- John Acres, the Chief Executive Officer of Acres-Fiore, a gaming content provider, who is a well-respected entrepreneur and gaming industry veteran. Acres founded Acres Gaming and co-founded Mikohn, Inc. (now called Progressive Gaming International).

-- Tom Frisina, a leading executive in the interactive gaming industry for 25 years, focusing on product development, publishing, and distribution. He has been a consultant to Bally over the last four years in the area of third-party product development.

-- Bally Technologies Board member Kevin Verner, who was previously the Chief Operating Officer of WMS Industries, Inc.

The Office of the CTO will also include Bally Technologies' executives Ramesh Srinivasan, Executive Vice President, Bally Systems; Bruce Rowe, Senior Vice President of Strategy and Business Development; Bryan Kelly, Vice President of Technology; Dan Savage, Vice President of Marketing; Loren Nelson, Vice President of Engineering; Marco Herrera, Vice President and Managing Director, Bally Nice; Mike Mitchell, Vice President of Game Development; Robert Crowder, Vice President of Advanced Product Development; and Walt Eisele, Vice President of Systems Development.

"The incredible breadth of talent, experience, and entrepreneurship that comprises our Office of the CTO will be key in driving Bally's strategic development and direction moving forward," Luciano said. "This powerhouse team of company leadership and outside technology veterans will allow us to drive even more customer-focused innovation."

"I am honored to join Bally's Office of the CTO and work with such a distinguished team," Acres said. "I have been working with Bally for several years now and have seen firsthand its commitment to developing technology that meets customers need both today and in the future. At Acres-Fiore, we are looking forward to working more closely with Bally to bring gaming operators more profitability and players more fun."

About Bally Technologies, Inc.

With a history dating back to 1932, Las Vegas-based Bally Technologies designs, manufactures, operates and distributes advanced gaming devices, systems and technology solutions worldwide. Bally's product line includes reel-spinning slot machines, video slots, wide-area progressives, and Class II, lottery and central determination games and platforms. As the world's No. 1 gaming systems company, Bally also offers an array of casino management, slot accounting, bonusing, cashless and table management solutions. The Company also owns and operates Rainbow Casino in Vicksburg, Miss. For more information, please contact Laura Olson-Reyes, Director of Corporate Communications, at 702-584-7742, or visit http://www.ballytech.com.

This news release may contain "forward-looking" statements within the meaning of the Securities Act of 1933, as amended, and is subject to the safe harbor created thereby. Such information involves important risks and uncertainties that could significantly affect the results in the future and, accordingly, such results may differ from those expressed in any forward- looking statements. Future operating results may be adversely affected as a result of a number of risks that are detailed from time to time in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update the information in this press release and represents that the information is only valid as of today's date.

 Investor Contact: Robert Caller Media Contact: Laura Olson-Reyes (702) 584-7982
   (702) 584-7742 rcaller@ballytech.com lolson-reyes@ballytech.com

SOURCE Bally Technologies, Inc.

http://www.ballytech.com

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