Maybe Apple realized that their next payment of $139 million would be better spent in exactly that way. GTAT stock is currently having a market cap of $193M, and that's up from Monday, when their market cap was probably close to that $139M. Oh yes, AAPL will be acquiring GTAT in the next few days if they haven't done so already, IMO.
Why not just hire the talent? Then hire the factory workers" they were intending on placing in Arizona anyway, and Arizona is pleased. I see no need to buy the company.
Why not just hire the talent? Then hire the factory workers" they were intending on placing in Arizona anyway, and Arizona is pleased. I see no need to buy the company.
Next thing you know, John McCain will be weighing in on this...
Then there is something wrong with that deal. Apple is being roped into keeping the doors open on seemingly mismanaged GT? That should be GT's responsibility.
The factory belongs to Apple. (They were leasing occupation to GTAT, who may end up leaving.)
The furnaces inside belong to Apple. (These were collateral on the loans, which may end up in default.)
Apple has a right to the GTAT IP, and more rights in the future.
Seems to me that Apple can press on with their plans and hire the necessary talent from the struggling GTAT.
My thoughts are that the Arizona plant will remain open, and it will supply sapphire for watches and iPhone parts in the near term, and potentially much more next year and beyond.
Apple is happy. GTAT employees picked up by Apple are happy. Arizona is happy. And Apple doesn't have to shell out any more $$$ to "buy GTAT".
Again, it is not Apple's responsibility to provide jobs. They have to do what is best for Apple. Since this company is now in bankruptcy, Apple could conceivably buy the IP and the factory for a song...unless Apple owns the factory? That part is not clear to me.
You are not catching my drift. I'm saying that Apple SHOULD hire the talent if they want to proceed with their obviously large plans for sapphire. They already OWN the factory (they were leasing it to GTAT). They already OWN the furnaces (collateral on the loans). The already have the rights to the IP (part of the original agreement). Hiring the talent completes the "acquisition" without having to pay the original premium.
In August the CEO said GTAT would have $300M in cash. That was less than 6 weeks ago. He also said profits would be $600-700M. Flatout lies.
Now they are going bankrupt. Are you telling me the situation could have changed so drastically in 6 weeks? Hell no. The fraudster CEO knew the company was going down the tubes in August but refused to tell shareholders the truth.
Maybe. But OTOH there were reports the downstream processors had trouble with the full screen laminates: yields were reportedly in the 20% range, so that unanticipated roadblock to the rollout of phone screens might be the immediate issue. One not foreseen in August....
"Surprised"? How the **** could GT not inform Apple that it had planned to do this? I mean, really? Seems insane, unless this strategy of surprise was part of the plan. But to not warn your partner that invested a shitload into you, just seems absurd.
Maybe. But OTOH there were reports the downstream processors had trouble with the full screen laminates: yields were reportedly in the 20% range, so that unanticipated roadblock to the rollout of phone screens might be the immediate issue. One not foreseen in August....
GTAT could still get blamed though.
GTAT: "We gave you the sapphire but the other guys couldn't process it correctly."
Other guys: "You gave us defective sapphire."
Question is whether GTAT is responsible for those yield issues.
In August the CEO said GTAT would have $300M in cash. That was less than 6 weeks ago. He also said profits would be $600-700M. Flatout lies.
Now they are going bankrupt. Are you telling me the situation could have changed so drastically in 6 weeks? Hell no. The fraudster CEO knew the company was going down the tubes in August but refused to tell shareholders the truth.
im not seeing the part about GTAT telling investors they plan to use sapphire in iPhones. neither are you.
As a former shareholder of GTAT I can attest that GTAT is run by crooks. NO surprise that the crook CEO is trying to strong arm Apple. What an idiot.
Why do I call the GTAT CEO a crook? Because he knew for MONTHS that they were not going to use sapphire for the iPhone6 screen. Yet the CEO never updated revenue or profit guidance. GTAT is a horribily run company and the employees are better of being under Apple. Just need to get rid of the criminal CEO/CFO/COO first.
For the love of Kylie, when are you going to man up and stop blaming other people for your poor investment choices?
First it was Tim Cook, who warned you not to make investment decisions based on the supply chain; and now it's the head of GTAT, who never said that Sapphire would used for the iPhone screen in the first place.
You let your own greed get in the way of sound judgement, and you got burned. Time to get over it.
Comments
Maybe Apple realized that their next payment of $139 million would be better spent in exactly that way. GTAT stock is currently having a market cap of $193M, and that's up from Monday, when their market cap was probably close to that $139M. Oh yes, AAPL will be acquiring GTAT in the next few days if they haven't done so already, IMO.
Why not just hire the talent? Then hire the factory workers" they were intending on placing in Arizona anyway, and Arizona is pleased. I see no need to buy the company.
Why not just hire the talent? Then hire the factory workers" they were intending on placing in Arizona anyway, and Arizona is pleased. I see no need to buy the company.
Next thing you know, John McCain will be weighing in on this...
Then there is something wrong with that deal. Apple is being roped into keeping the doors open on seemingly mismanaged GT? That should be GT's responsibility.
The factory belongs to Apple. (They were leasing occupation to GTAT, who may end up leaving.)
The furnaces inside belong to Apple. (These were collateral on the loans, which may end up in default.)
Apple has a right to the GTAT IP, and more rights in the future.
Seems to me that Apple can press on with their plans and hire the necessary talent from the struggling GTAT.
My thoughts are that the Arizona plant will remain open, and it will supply sapphire for watches and iPhone parts in the near term, and potentially much more next year and beyond.
Apple is happy. GTAT employees picked up by Apple are happy. Arizona is happy. And Apple doesn't have to shell out any more $$$ to "buy GTAT".
So what's wrong with that deal?
Again, it is not Apple's responsibility to provide jobs. They have to do what is best for Apple. Since this company is now in bankruptcy, Apple could conceivably buy the IP and the factory for a song...unless Apple owns the factory? That part is not clear to me.
You are not catching my drift. I'm saying that Apple SHOULD hire the talent if they want to proceed with their obviously large plans for sapphire. They already OWN the factory (they were leasing it to GTAT). They already OWN the furnaces (collateral on the loans). The already have the rights to the IP (part of the original agreement). Hiring the talent completes the "acquisition" without having to pay the original premium.
Thompson
Chapter 11 is no big deal. It's just a tool to screw employees.
Certainly that's how just about every airline in the country has used that mechanism.
In August the CEO said GTAT would have $300M in cash. That was less than 6 weeks ago. He also said profits would be $600-700M. Flatout lies.
Now they are going bankrupt. Are you telling me the situation could have changed so drastically in 6 weeks? Hell no. The fraudster CEO knew the company was going down the tubes in August but refused to tell shareholders the truth.
Maybe. But OTOH there were reports the downstream processors had trouble with the full screen laminates: yields were reportedly in the 20% range, so that unanticipated roadblock to the rollout of phone screens might be the immediate issue. One not foreseen in August....
That's not true, at least in US style guides.
As you can see here (http://blog.apastyle.org/apastyle/2011/08/punctuating-around-quotation-marks.html) the US style and British style differ. Since AI doesn't say "colour" or "aluminium" I assume they follow US conventions.
Well, learning something new every day. Yet, another reason for why American "standards" are so backwards and illogical. :P
Maybe. But OTOH there were reports the downstream processors had trouble with the full screen laminates: yields were reportedly in the 20% range, so that unanticipated roadblock to the rollout of phone screens might be the immediate issue. One not foreseen in August....
GTAT could still get blamed though.
GTAT: "We gave you the sapphire but the other guys couldn't process it correctly."
Other guys: "You gave us defective sapphire."
Question is whether GTAT is responsible for those yield issues.
In August the CEO said GTAT would have $300M in cash. That was less than 6 weeks ago. He also said profits would be $600-700M. Flatout lies.
Now they are going bankrupt. Are you telling me the situation could have changed so drastically in 6 weeks? Hell no. The fraudster CEO knew the company was going down the tubes in August but refused to tell shareholders the truth.
im not seeing the part about GTAT telling investors they plan to use sapphire in iPhones. neither are you.
For the love of Kylie, when are you going to man up and stop blaming other people for your poor investment choices?
First it was Tim Cook, who warned you not to make investment decisions based on the supply chain; and now it's the head of GTAT, who never said that Sapphire would used for the iPhone screen in the first place.
You let your own greed get in the way of sound judgement, and you got burned. Time to get over it.