GT Advanced says 'oppressive and burdensome' sapphire contracts with Apple led to bankruptcy

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  • Reply 121 of 167
    mubailimubaili Posts: 457member
    there seems to be many missteps on Apple side recently. Saying "only Apple can do it" too many times would make Apple people to be too arrogant and not pay attention to details and signs. Apple needs to regroup and post signs that read "only Apple can screw up this badly" and "with great power comes great responsibility". Confidence yes, hubris no!
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  • Reply 122 of 167
    Most of us here don't follow bankruptcy proceedings for entertainment, so we're not familiar with the process. This "oppressive and burdensome" language is probably par for the course. I read that and I think "mental cruelty" like in pre-no-fault divorce hearings. It's just posturing for the court. Take a deep breath and relax.
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  • Reply 123 of 167
    magman1979magman1979 Posts: 1,301member
    Wow, so the GTAT CEO keeps lying to his shareholders that the company is rock solid financially just two months before declaring bankruptcy, and now is trying to blame this fiasco on Apple because the contract they signed (which was hopefully reviewed by their now seemingly dumb lawyers), was originally fantastic, is now oppressive and burdensome?

    Thank GOD I didn't invest in this slime bucket of a company, as if I did, I'd be calling MY lawyer and initiating a class-action on behalf of all the other shareholders this scum bag CEO has blatantly robbed!

    I feel really bad for those hundreds of plant workers who now face the very real prospect of losing their livelihoods because of this. Hopefully Apple steps in and does something about this, seeing as they pretty much own the building and furnaces.
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  • Reply 124 of 167
    MacPromacpro Posts: 19,873member
    philboogie wrote: »
    I don't understand they turtle speed AI is doing on posting news. This story is yesterdays news, almost literally:

    http://9to5mac.com/2014/10/09/wsj-apple-deal-with-gt-advanced-broke-down-over-inability-to-provide-iphone-6-displays/

    I am used to a US 24 hour delay in most news reports. I read the BBC web site to see what will be on CNN tomorrow. Good going 9to5.
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  • Reply 125 of 167
    sog35 wrote: »
    Dont be so ignorant.  You know full well a complaint made to the SEC by a small investor is totally ignored.  

    Complaint? Who said anything about a complaint? We thought you had proof of corruption and corporate malfeasance. Got proof GTAT and its CEO are guilty of a crime (you called them "CROOKS", liars, and full of fraud)? Or were you planning to just whine to the SEC like you are doing on these forums? ;)
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  • Reply 126 of 167

    in related news apple is being sued by a taiwanese firm over sapphire patents. even though apple does not make sapphire.

     

    http://channeleye.co.uk/apple-sued-by-sapphire-firm/

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  • Reply 127 of 167
    moreckmoreck Posts: 187member
    These guys bit off more than they could chew, and now they're blaming Apple. Talk about biting the hand that feeds you.
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  • Reply 128 of 167
    MacPromacpro Posts: 19,873member
    revenant wrote: »
    in related news apple is being sued by a taiwanese firm over sapphire patents. even though apple does not make sapphire.

    http://channeleye.co.uk/apple-sued-by-sapphire-firm/

    I think I recall reading Apple did come up with the technology of putting a substrate of sapphire onto Gorilla Glass though didn't I? I could be wrong.
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  • Reply 129 of 167
    gatorguygatorguy Posts: 24,772member
    I think I recall reading Apple did come up with the technology of putting a substrate of sapphire onto Gorilla Glass though didn't I? I could be wrong.

    Yeah pretty sure they did file for a patent on a method of laminating sapphire to a glass substrate. I don't believe they have actually been issued one tho. Could be wrong. There's other Apple patent applications involving sapphire.

    EDIT: Here ya go.
    http://www.patentlyapple.com/patently-apple/displays-sapphire/

    Pretty much covers it all. Note that Hon-Hai was reported to have done a test assembly of a few dozen sapphire-screen Phones at Apple's request. The report went on to say it was successful. That was back in January. The link includes that story too.
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  • Reply 130 of 167
    heliahelia Posts: 170member

    Hello Apple!

     

    Could you please give me half a billion dollar in cash for the mentioned contract? I promise I can't hold up onto the terms, and I'll play dirty and accuse you, because I'm an a**hole like that!

     

    Best,

    GTAT

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  • Reply 131 of 167
    foggyhillfoggyhill Posts: 4,767member
    Quote:

    Originally Posted by mubaili View Post



    there seems to be many missteps on Apple side recently. Saying "only Apple can do it" too many times would make Apple people to be too arrogant and not pay attention to details and signs. Apple needs to regroup and post signs that read "only Apple can screw up this badly" and "with great power comes great responsibility". Confidence yes, hubris no!

     

    What the hell are you even talking about. They were pushing the outside of envelloppe with a supplier here and everybody but the CEO got screwed. How is this Apple'S fault. Should they not try something new because there are risks?

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  • Reply 132 of 167
    dewmedewme Posts: 6,110member
    And we wonder why American manufacturers are given a bad rap. I know we can't extrapolate this too far but this reeks of horrible mismanagement and slimy leadership. I hope Apple kicks these guys to the curb financially and legally and doubles down on rewarding trusted suppliers like Corning who have proven themselves worthy and parlayed their experiences with Apple into incredible new business opportunities for everyone involved.
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  • Reply 133 of 167
    Quote:

    Originally Posted by foggyhill View Post

     

     

    What the hell are you even talking about. They were pushing the outside of envelloppe with a supplier here and everybody but the CEO got screwed. How is this Apple'S fault. Should they not try something new because there are risks?




    I really would like to see a statistics showing the number of new technologies, or manufacturing processes by Apple and compare this to other companies, not only from the consumer electronics market. I have the feeling that they really are often on the forefront and once it is established others harvest the work they did. On a sidenote: This is why I totally don't like the iFixit pricing estimate. Because this AFAIK does not reflect the efforts and investments on the engineering side as well as setting up manufacturing down the supply chain.

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  • Reply 134 of 167
    jungmarkjungmark Posts: 6,928member
    haggar wrote: »




    If GTAT tried to counteroffer, or if they simply walked away without signing the deal, then they would surely be scorned by just about every Apple fan on the internet.  Apple will always be viewed as the "good guy" so Apple's terms will always be fair and free of any ulterior motives.

    "Who needs GTAT?"
    <span style="line-height:1.4em;">"There are plenty of other suppliers willing to agree to Apple's terms without question", etc.</span>


    So GTAT would look like the bad guy no matter what.

    Why would GTAT care about what Internet posters think? In addition, we are talking about GTAT not fulfilling its contractual agreements. It over promised and under delivered. It is the "bad guy."
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  • Reply 135 of 167
    gatorguygatorguy Posts: 24,772member
    jungmark wrote: »
    Why would GTAT care about what Internet posters think?

    Bingo.
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  • Reply 136 of 167
    dysamoriadysamoria Posts: 3,430member
    I can't wait to hear what the oppressiveness was. Fair wages, benefits, and conditions for their employees? Product that isn't flawed? Product delivered when it was agreed to be delivered?
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  • Reply 137 of 167

    What exactly is GT claiming Apple did to them? GT made a deal with Apple and now they want out because they can't live up to what they agreed to. No one forced them to do business with Apple, did they? They took Apple's money and agreed to perform according to the contract. Now it seems, they knew they wouldn't be able to when they signed the deal. Now follow that up with stock sales by Senior management/ownership and you have the makings of all kinds of SEC, legal and criminal issues. The people running GT appear to have withheld material information about the company's condition. They sold large amounts of stock upon making the deal with Apple.  Withholding material information and concealing GT's true condition has left them open to all kinds of SEC violations as well as possible criminal charges. You can be assured there will be several investigations. Apple has nothing to do with any of them other than as a creditor/customer who GT claims they can't pay. It's a shame Bankruptcy law protects them from anything except criminal charges. But one nice thing is the Feds and SEC are not lenient, in this day and age, on individuals and companies pulling shenanigans with stocks. Of all the charges initiated since the 2007 financial debacles, only one person who chose to go to trial has been acquitted.

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  • Reply 138 of 167
    netroxnetrox Posts: 1,581member

    And people wonder why smart businessmen have jobs shipped overseas. 

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  • Reply 139 of 167
    freerangefreerange Posts: 1,597member
    sog35 wrote: »
    Again I ask:

    Why the FUK didn't Tim Cook do better due dilegence on these guys?  The CEO is a total FRAUD and CROOK.

    Please get a life, and a good education before you return here...
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  • Reply 140 of 167
    dasanman69dasanman69 Posts: 13,002member
    cesco wrote: »
    One man's "oppression and burden" is another man's impetus to better their company (see T-Mobile's John Legere's interview) ;)

    Said the oppressor.
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