As an AAPL shareholder myself, there would be no benefit to Apple having the details of privately negotiated contracts revealed. What in the world are you thinking?
The benefit would be to stop the conjectures and to show how crooked GTAT management is.
I can imagine you on jury duty…
Court Clerk :"All rise"
You : "He's guilty! lock him up. Look at him, he even looks guilty. Right, anyone fancy a pint?"
All they are doing is trying to get better terms from Apple.
No one forced them to sign the contract. Its not Apple's fault that the company is incompetent and unable to product good product. What do you expect? Apple to buy Billions of dollars of defective product?
The GTAT CEO deserves to go to jail. He made BIG PROMISES to Apple and GTAT investors and failed. Please remember that before the Apple deal the GTAT stock was $4 per share. After the Apple deal the stock blew up to $20. Because of this the GTAT CEO made huge money selling stock options. He made $10,000,0000 because of the stock exploding.
It looks like the GTAT CEO signed the Apple contract because he knew it would look great to Wall Street and that would cause the stock price to explode. Then his stock options would EXPLODE in value and he would become rich. He didn't care if this risk would cause the company to get BANKRUPT because he still would get his $10,000,000.
I see your magic crystal ball is back, allowing you to see into the minds of people you've never met.....
how about full disclosure -- you lost a bunch of money and now you're pissed?
i am not sure about corporate contract- but ordinary citizens get out of contracts as the contracts are sometimes oppressive. but when we are talking hundreds of millions and thousands of jobs- you make da*n sure you can fulfil the contract.
someone is going to pay- and i do not think it will be apple.
GTAT was going to make TONS of PROFITS!!! Literally BILLIONS a year. The GTAT CEO himself said that in his forecast.
The problem is GTAT proved themself incompetent and unable to make a good product. The sapphire they made was 2nd class and defective. So you want Apple to accept and buy BILLIONS of defective sapphire? HELL NO!!!
Hon Hai and dozens of other supplies are EXTREMELY HAPPY working with Apple. Foxxcon makes BILLIONS in profits because of Apple contracts. Stop being an IDIOT and open your eyes. Its not Apple jobs to REWARD INCOMPETENT contractors. Make good product and Apple will reward you. Make CRAP and you will be stuck with it.
take a fucking chill pill.
where is it stated that their sapphire was second class and defective? be specific. link to it.
If the product was not defective Apple would have sent GTAT the final prepayment of $100M
Apple never sent the final prepayment because the product was not up to Apple's standards.
The final prepayment was scheduled for September. If the product was not defective Apple would have been buying BILLIONS of dollars worth of sapphire this year and GTAT would not be bankrupt. That is why GTAT wants to shut down the sapphire plant completely. Please understand that GTAT has NEVER mass produced sapphire. In the past they made sapphire machines but never mass produced sapphrie product.
so, basically, you're talkimg out of your ass again? have I got that about right? yeah.
unless you're telling us you've read the super secret docs and know what metrics the performance clauses use?
GTAT took a huge risk and lost. If they did not put all their eggs in one basket they would have been okay even if the Apple deal did not turn out.
The CEO put all their eggs in one basket because he knew that he could personally profit from it. GTAT stock rose considerably after news of the Apple contract became public. Over the last 12 months the GTAT CEO made $10M in selling shares of his own company. Almost seems like he sacrificed the entire company to make himself rich.
To call the Apple contract "oppressive and burdensome" is ridiculous. He loved that contract as he was selling shares of his own company. So not only is GTAT wrong since they are the ones who signed the contracts, but they are also crooks because they promised a product they failed to deliver and now they want to walk away and try to keep the assets in the process while firing over 800 people. No decent bankruptcy judge is going to go for these requests.
As an Apple shareholder, I would like the court to nullify the confidentiality agreement. Allow GTAT to release all the details and facts of the contract.
what power or influence does your desire have over these proceedings, as a shareholder? are you in aposition to determine what is harmful or not harmful to apple's business?
Make sure you don't apply for any job as a diplomat. There are always 2 sides, and the measure of a persons intelligence is very related to their ability to listen to anothers view.
actually, no, that isn't the measure of intelligence at all. the word you're thinking of is "listening". perhaps even empathy, but that isn't implied.
All they are doing is trying to get better terms from Apple.
No one forced them to sign the contract. Its not Apple's fault that the company is incompetent and unable to product good product. What do you expect? Apple to buy Billions of dollars of defective product?
The GTAT CEO deserves to go to jail. He made BIG PROMISES to Apple and GTAT investors and failed. Please remember that before the Apple deal the GTAT stock was $4 per share. After the Apple deal the stock blew up to $20. Because of this the GTAT CEO made huge money selling stock options. He made $10,000,0000 because of the stock exploding.
It looks like the GTAT CEO signed the Apple contract because he knew it would look great to Wall Street and that would cause the stock price to explode. Then his stock options would EXPLODE in value and he would become rich. He didn't care if this risk would cause the company to get BANKRUPT because he still would get his $10,000,000.
Please dissolve your position in Apple (if you actually have one) as you said you were going to; go buy an Android phone, and find a new forum. Your rants pollute this forum with their ignorance and are not welcomed here. We understand that you failed to do your due diligence and invested heavily in GT Advanced solely because they were a potential Apple supplier. Your attempt to blame others for your failure to make sound investment decisions by making wild accusations based on nothing but pure delusional fabrication and conjecture only serves to make you look more irrational.
If anything legal should be discussed here, it should be your slander of the GT Advanced CEO. You have made neumerious slanderous allegations in several of your rants without any sources of merit. Please grow up, learn a lesson from your mistake, and move one.
As an Apple shareholder, I would like the court to nullify the confidentiality agreement. Allow GTAT to release all the details and facts of the contract.
The courts will not do that, there a few things the courts do not mess with and this is one of them. Most likely the court will not allow the content of the agreement and what is protected under an NDA to be made public. This is civil matter which is not necessarily open to the public. The lawyers and possibly the government will be allowed to see what is in the agreement since most NDA agreement have provisions to allow information to be share with Company Agents (lawyers, accountants, and consultant as long they are under and NDA) and in compliance with laws like SEC and IRS.
While a contract's terms could be oppressive and burdensome, GT Advanced entered into the contract and signed *VOLUNTARILY*. They cooked their own noodle. *rolls eyes*
Apple basically had wishful thinking of how much sapphire they could get made in America for a certain price. GTAT execs might have known it wasnt entirely possible. They knew the contracts would bump their share price and shareholder value in the short run at least.
Their business plan might have been simply to break even or lose on the deal while apple helped them build infrastructure in the hopes that further money would come down the line.
Apple only had "wishful thinking" because GTAT promised it. If GTAT over promised and under delivered, it's their fault.
These types of agreements are commonplace. Walmart and most chains are there to get the best possible deal. If GTAT was not happy, they could have refused to sell to Apple and not sign the contract. Cry babies.
There is a point at which it should be said by any reasonable person, 'Apple, you have gone too far'.
That's why this comany has lawyers etc. to say it before they sign an unreasonable etc contract.
They knew the game they were entering into. They agreed to play it. So if after the game has started they realize they can't win, they don't get to claim the didn't really understand the rules. There was a time to ask questions and they didn't etc.
GT Advanced wanted Apples money and went for something they couldn't pull off in the end.
The courts will not do that, there a few things the courts do not mess with and this is one of them. Most likely the court will not allow the content of the agreement and what is protected under and NDA to be made public. This is civil matter which is not necessarily open to the public. The lawyers and possible the government will be allowed to see what is in the agreement since most NDA agreement have provisions to allow information to be share with Company Agents (lawyers, accountants, and consultant as long they are under and NDA) and in compliance with laws like SEC and IRS.
The Security & Exchange Comission and the Internal Revenue Service are governmental organazitions, not laws. Also neither of those organizations have the power to create laws (although they sure try to).
If the product was not defective Apple would have sent GTAT the final prepayment of $100M
Apple never sent the final prepayment because the product was not up to Apple's standards.
That is one possible scenario, but not fact. It's also possible that GTAT simply wasn't producing the volume they promised Apple they could make. Thus Apple didn't pay them because the items were not delivered.
For those who do not work for a High Tech Company and never signed and NDA, this is not unusual, there is always a penalty like this if leaking information the size of the penalty is usually associated with the size of the business you doing with them or perceived value of the information that is being shared. The bigger the number the more teeth the agreement has. This ensure Management tells it employee they can not speak to anyone about what they are doing. BTW the federal government and Military contractors have something similar but it includes jail time.
The fact so much leaked out ahead of the i6 and nothing about the watch tells me that apple allowed the i6 information to leak since non of their suppliers are going to risk paying apple $50m for each leak. Most NDA have a cost for each leak, to it not like you can leak 10 things and get hit once for $50M it going to $50M for each of the 10 leaks so $500M.
I believe Apple allowed the leaks to hold people who may have been considering a move to Samsung, there was too much specific information leaking out about the form factor. If Apple did do this, then it work since we know Samsung took a big hit.
Bingo. When it comes to major Apple products, any news in the rumor mill can cause stock price swings affecting market cap in the billions of dollars. And it tips off competitors to Apple's plans, often leading to them rushing to add features before Apple. A few other smartphone manufacturers are doing sapphire screens now, not because they really believe in it or have gotten the costs in line, but solely because they know Apple is going to do it given what's already been in the press.
The $50m NDA also keeps company directors from doing stupid stuff like going on CNBC and discussing their plans as an Apple sub-contractor. Now there are things you must comment on to satisfy regulatory requirements in their 10K and other filings, which is one of the reasons we know as much as we do about GT and their plans in the first place.
At the end of the day, GT management is doing their best to save their own skins. The insider trading allegations were incredibly dumb and completely unnecessary. The amount of money we're talking about was what...$160K? And the CEO had already sold $10m of shares earlier? All this will get messier before it gets better. But GT's assertions that the contract terms weren't in their best interests are laughable since it makes current management look like a bunch of idiots.
The Security & Exchange Comission and the Internal Revenue Service are governmental organazitions, not laws. Also neither of those organizations have the power to create laws (although they sure try to).
-PopinFRESH
yeah they just enforce them. so when the come a knocking you better comply.
Comments
As an AAPL shareholder myself, there would be no benefit to Apple having the details of privately negotiated contracts revealed. What in the world are you thinking?
The benefit would be to stop the conjectures and to show how crooked GTAT management is.
We are not amused.
I see your magic crystal ball is back, allowing you to see into the minds of people you've never met.....
how about full disclosure -- you lost a bunch of money and now you're pissed?
let us not forget:
http://blogs.wsj.com/digits/2014/10/07/ceo-of-sapphire-supplier-sold-shares-before-apple-announcement/
something fishy is going on.
i am not sure about corporate contract- but ordinary citizens get out of contracts as the contracts are sometimes oppressive. but when we are talking hundreds of millions and thousands of jobs- you make da*n sure you can fulfil the contract.
someone is going to pay- and i do not think it will be apple.
take a fucking chill pill.
where is it stated that their sapphire was second class and defective? be specific. link to it.
so, basically, you're talkimg out of your ass again? have I got that about right? yeah.
unless you're telling us you've read the super secret docs and know what metrics the performance clauses use?
GTAT took a huge risk and lost. If they did not put all their eggs in one basket they would have been okay even if the Apple deal did not turn out.
The CEO put all their eggs in one basket because he knew that he could personally profit from it. GTAT stock rose considerably after news of the Apple contract became public. Over the last 12 months the GTAT CEO made $10M in selling shares of his own company. Almost seems like he sacrificed the entire company to make himself rich.
To call the Apple contract "oppressive and burdensome" is ridiculous. He loved that contract as he was selling shares of his own company. So not only is GTAT wrong since they are the ones who signed the contracts, but they are also crooks because they promised a product they failed to deliver and now they want to walk away and try to keep the assets in the process while firing over 800 people. No decent bankruptcy judge is going to go for these requests.
what power or influence does your desire have over these proceedings, as a shareholder? are you in aposition to determine what is harmful or not harmful to apple's business?
actually, no, that isn't the measure of intelligence at all. the word you're thinking of is "listening". perhaps even empathy, but that isn't implied.
Please dissolve your position in Apple (if you actually have one) as you said you were going to; go buy an Android phone, and find a new forum. Your rants pollute this forum with their ignorance and are not welcomed here. We understand that you failed to do your due diligence and invested heavily in GT Advanced solely because they were a potential Apple supplier. Your attempt to blame others for your failure to make sound investment decisions by making wild accusations based on nothing but pure delusional fabrication and conjecture only serves to make you look more irrational.
If anything legal should be discussed here, it should be your slander of the GT Advanced CEO. You have made neumerious slanderous allegations in several of your rants without any sources of merit. Please grow up, learn a lesson from your mistake, and move one.
-PopinFRESH
As an Apple shareholder, I would like the court to nullify the confidentiality agreement. Allow GTAT to release all the details and facts of the contract.
The courts will not do that, there a few things the courts do not mess with and this is one of them. Most likely the court will not allow the content of the agreement and what is protected under an NDA to be made public. This is civil matter which is not necessarily open to the public. The lawyers and possibly the government will be allowed to see what is in the agreement since most NDA agreement have provisions to allow information to be share with Company Agents (lawyers, accountants, and consultant as long they are under and NDA) and in compliance with laws like SEC and IRS.
While a contract's terms could be oppressive and burdensome, GT Advanced entered into the contract and signed *VOLUNTARILY*. They cooked their own noodle. *rolls eyes*
You can listen to GTAT CEO, Tom Gutierrez here:
http://wsw.com/webcast/canaccord14/GTAT/
Apple only had "wishful thinking" because GTAT promised it. If GTAT over promised and under delivered, it's their fault.
I can imagine you on jury duty…
Court Clerk :"All rise"
You : "He's guilty! lock him up. Look at him, he even looks guilty. Right, anyone fancy a pint?"
just poking fun….
I think the whole thread needs a couple....
That's why this comany has lawyers etc. to say it before they sign an unreasonable etc contract.
They knew the game they were entering into. They agreed to play it. So if after the game has started they realize they can't win, they don't get to claim the didn't really understand the rules. There was a time to ask questions and they didn't etc.
GT Advanced wanted Apples money and went for something they couldn't pull off in the end.
-PopinFRESH
That is one possible scenario, but not fact. It's also possible that GTAT simply wasn't producing the volume they promised Apple they could make. Thus Apple didn't pay them because the items were not delivered.
For those who do not work for a High Tech Company and never signed and NDA, this is not unusual, there is always a penalty like this if leaking information the size of the penalty is usually associated with the size of the business you doing with them or perceived value of the information that is being shared. The bigger the number the more teeth the agreement has. This ensure Management tells it employee they can not speak to anyone about what they are doing. BTW the federal government and Military contractors have something similar but it includes jail time.
The fact so much leaked out ahead of the i6 and nothing about the watch tells me that apple allowed the i6 information to leak since non of their suppliers are going to risk paying apple $50m for each leak. Most NDA have a cost for each leak, to it not like you can leak 10 things and get hit once for $50M it going to $50M for each of the 10 leaks so $500M.
I believe Apple allowed the leaks to hold people who may have been considering a move to Samsung, there was too much specific information leaking out about the form factor. If Apple did do this, then it work since we know Samsung took a big hit.
Bingo. When it comes to major Apple products, any news in the rumor mill can cause stock price swings affecting market cap in the billions of dollars. And it tips off competitors to Apple's plans, often leading to them rushing to add features before Apple. A few other smartphone manufacturers are doing sapphire screens now, not because they really believe in it or have gotten the costs in line, but solely because they know Apple is going to do it given what's already been in the press.
The $50m NDA also keeps company directors from doing stupid stuff like going on CNBC and discussing their plans as an Apple sub-contractor. Now there are things you must comment on to satisfy regulatory requirements in their 10K and other filings, which is one of the reasons we know as much as we do about GT and their plans in the first place.
At the end of the day, GT management is doing their best to save their own skins. The insider trading allegations were incredibly dumb and completely unnecessary. The amount of money we're talking about was what...$160K? And the CEO had already sold $10m of shares earlier? All this will get messier before it gets better. But GT's assertions that the contract terms weren't in their best interests are laughable since it makes current management look like a bunch of idiots.
The Security & Exchange Comission and the Internal Revenue Service are governmental organazitions, not laws. Also neither of those organizations have the power to create laws (although they sure try to).
-PopinFRESH
yeah they just enforce them. so when the come a knocking you better comply.