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Posts by Russell

 You must be new here.
 Did you buy your phone because it fits your lifestyle or did you buy your phone so you can fit your lifestyle around it? 
 Or itunes?
 In GTAT's case that is not true. People and lawyers familiar with bankruptcy proceedings are petitioning the court because they feel GTAT's stock still has value. Thu Oct 23, 2014 4:28pm EDT (Reuters) - Shareholders of GT Advanced Technologies (GTATQ.PK) are lobbying regulators to form a committee to vouch for their interests in the sapphire maker's bankruptcy, believing their shares may still have value. While shareholders are typically wiped out in bankruptcy, GT...
 The blame is on Apple. Apple admitted their process wasn't ready for production.    Uh no. The only money Apple is entitled to is from the sales of the furnaces. Even if it doesn't cover the $439m, Apple can not get it from GTAT. "Apple will have a $439 million claim against the furnaces and will be paid solely through the furnace sales, GT Advanced Lawyer, Luc Despins said. No other claims will be made by Apple."
 Apple ONLY has a $439m claim on the furnaces. This means no matter how low the furnaces sell for, Apple can not come after GTAT for the difference.  Yup. Knowing what the judge said, “I’m seeing what looks incredibly like a construction suit, where a homeowner(Apple) says to the contractor(GTAT), ‘It didn’t come out the way I wanted to,’ and the contractor says, ‘Well, it would have come out that way if you hadn’t changed the specifications. Plus with Apple admitting...
  "Apple will have a $439 million claim against the furnaces and will be paid solely through the furnace sales, Despins said. No other claims will be made by Apple." Even if GTAT closes shop tomorrow, or becomes wildly successful a year from now, the only money Apple will get is from the sales of the furnaces.
  If it was that simple, GTAT would have to cough up $439 million asap. Instead,1) Apple doesn't get their money back until the ovens get sold2) Apple is allowing GTAT to stay in the building rent free for a year3) Apple will help GTAT obtain $150 million in financing4) GT gets to retain intellectual property rights GTAT essentially made the agreement null and void.
 I thought the Reality Distortion Field died with Steve. GTAT is in more control than Apple. GTAT got their wish, and some, which was to break the agreement with Apple.  Apple does not own the factory in Arizona. It is in Apple's best interest to see that the furnaces are sold for top dollar, not 10¢ on the dollar.Apple won't get their money back until the furnaces are sold. That does not sound like an enviable position to be in. "Under the proposed accord, GT Advanced...
 First, GTAT was getting the short end of the stick and now the tables have turned.There is more to the settlement than what Phillip Elmer-Dewitt tweeted.   "The deal would allow the Merrimack-based company to keep and sell some 2,036 furnaces it installed at a facility in Arizona and give the technology giant an undisclosed percentage the furnaces sale to pay off some $439 million of its secured loan on the equipment." "Apple also will help the company obtain $150 million...
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