GT Advanced says it's only settling with Apple because it can't afford to sue

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Comments

  • Reply 21 of 72
    I would imagine that Apple drives a hard bargain; after all, whomever becomes a supplier for Apple is guaranteed all the business they could ever want. Most people would have killed to be in GTAT's position.
  • Reply 22 of 72
    nolamacguynolamacguy Posts: 4,758member
    Quote:

    Originally Posted by sog35 View Post

     

    Its time to go THERMO NUCLEAR on these biatches.

     

    How DARE they accuse Apple of criminal behavior.

     

    Apple has given them so many chances and so many concessions and they still are SLANDERING Apple's name.

     

    Time to take of the kid gloves and beat the living sheet out of these CRIMINALS.


     

    man. it's like they killed your dog. are you on mood stabilizers? i surely hope so. talk about unbalanced...

     

    so, whats the slander? specifically? (tho you probably mean libel, since if it happened it likely wasnt spoken)

  • Reply 23 of 72
    tundraboytundraboy Posts: 1,786member
    Quote:
    Originally Posted by digitalclips View Post



    "... actions rooted in the Bankruptcy Code and breach of contract claims." "inequitable conduct" that "resulted in an injury to creditors or conferred an unfair advantage on Apple."



    Them's fightin' words ...

     

    No, them's words you mutter to try and salvage some dignity as you walk away with your tail between your legs.

     

    Might also be setting up your defense for when the stockholders and the Feds go after you.

  • Reply 24 of 72
    nolamacguynolamacguy Posts: 4,758member
    Quote:

    Originally Posted by sog35 View Post

     

    So where are all those people who called me a SLANDER for calling the GTAT executives FRAUDS and CRIMINALS?

     

    GTAT is showing their true colors.


     

    it wouldnt be slander. but regardless... wheres your evidence of fraudulent or criminal behavior? so far:

     

    - nobody charged

    - nobody arrested

    - nobody fined

    - nobody sued

     

    ...all we have are the near-deranged postings of an anonymous user of a rumors site.

  • Reply 25 of 72
    nolamacguynolamacguy Posts: 4,758member
    Quote:

    Originally Posted by sog35 View Post

     

    So you criticize me for calling GTAT FRAUDS and CROOKS?

    Why?  The facts are proving more and more this is EXACTLY what they are.


     

    yeah, about those "facts" you keep saying you have....where are there? what are they? have you alerted the authorities? did they take you seriously? who's been charged?

  • Reply 26 of 72
    nolamacguynolamacguy Posts: 4,758member
    Quote:

    Originally Posted by Mehran View Post

     

    Let's not forget the Criminal Insider Trading by the top executive...


     

    where has this been established? was he charged, arrested, convicted? or are you just deciding today is "words mean whatever i want them to mean" day...?

  • Reply 27 of 72
    tundraboytundraboy Posts: 1,786member
    Quote:
    Originally Posted by melgross View Post



    Oh oh! I would love to see those contracts. I've seen some pretty hairy ones in my time. But I have to say that they weren't forced to agree to them. Look, facts are facts. They badly wanted that business. They saw themselves becoming a much bigger company. I get it.



    But either they were too confident their new designs would work, and that they could do sapphire production, which they hadn't done before, or, they were crossing their fingers that they could work it out. Either way, that's not a bet the company move that usually works out.



    When you already know you're just going to take the money then file for bankruptcy, you don't really try hard to negotiate contract terms.  Prolonged talks just delay your payday.  "Whatever terms you want boss, just send me the check as soon as possible." versus "I'm negotiating really hard on this loan because I intend to to pay you back!"

  • Reply 28 of 72

    It's actually code for "All our executives sold off our stock and made a tidy profit just before the meltdown, and there's no way in hell we're using our 'personal' money to keep the company afloat now."

  • Reply 29 of 72
    helia wrote: »
    Alpha Mike Foxtrot GTAT scums, if you know what I mean!

    Or as they say at LAPD, Adam Mary Frank
  • Reply 30 of 72
    Nah. That virginal blood sacrifice only happens on the fabled christos birth on December 25.
    We all know where your going
  • Reply 31 of 72
    radarthekatradarthekat Posts: 3,402moderator
    sog35 wrote: »
    So where are all those people who called me a SLANDER for calling the GTAT executives FRAUDS and CRIMINALS?

    GTAT is showing their true colors.


    From October 6th: This GTAT news now is making me question the whole Beats deal. if Apple's due dilegance could not identify GTAT as a scam company how great was their dilegance about Beats? Did they just throw $3B away with Beats? <b>This may make me sell my Apple stock alot sooner than expected.</b> I'm seeing real cracks in Apple for the first time in a long time: failed GTAT dealiOS8 update making iPhones uselessnot having enought iPhone 6+ ready for launchBlah designed of iPhone6 If we ever...

    And again, same day: Sorry but HALF A BILLION is not fine. When you add in opportunity cost this will probably close to ONE BILLION. When your CEO gives a company ONE BILLION DOLLARS and they go bankrupt less than 12 months later it falls on the CEO. Sorry, TIM COOK fuked up. Read my post history. I've been a strong supporter of Cook. But facts are facts. And MR COOK just got duped out of HALF BILLION.

    Still holding your Apple position, I hope.
  • Reply 32 of 72



    A few more interesting tidbits from the WSJ article:

    Quote:

    In a supplemental filing Tuesday, GT Advanced revealed it spent $900 million trying to produce “sapphire in quantities, size and quality never before achieved,” to Apple’s specifications. Apple financed less than half the cost of GT Advanced’s failed attempt to make “a product that Apple would accept,” court papers say.

     

    Besides borrowing from Apple as it moved to transform its business, GT Advanced borrowed $214 million by issuing notes in 2013 and raised $71 million by selling stock, court papers say.

     

    Unable to negotiate changes to the Apple agreements, GT Advanced found it “would never realize a profit.”



     

    And this:

    Quote:

    Before agreeing to the settlement, GT Advanced moved to reject the agreements with Apple that contained the liquidated damages provisions...The agreement hangs on getting a court order [a motion put forth by GTA] that orders the destruction of all copies of papers GT Advanced filed with the U.S. Bankruptcy Court in New Hampshire which explain the trouble between the sapphire supplier and Apple, and the reasons for the bankruptcy.


     

    link

  • Reply 33 of 72
    gotwakegotwake Posts: 114member
    Let's see...... Apple gave you guys $350 million to produce a product for Apple. You guys couldn't make it happen. What's that thing....... oh yeah, contractual obligations . And that is Apple's fault? Yeah, go ahead and sue Apple. You may owe them more money in the end.
  • Reply 34 of 72
    mac_dogmac_dog Posts: 915member

    i was thinking, "man, the replies are going to be a fun read".

    sog35 (and those that are going back & forth with him/her).

    how disappointing.

    how boring.

  • Reply 35 of 72
    ktappektappe Posts: 808member
    Quote:
    Originally Posted by NolaMacGuy View Post

     

    - nobody charged

    - nobody arrested

    - nobody fined

    - nobody sued


     

    Give it time. It's only been a few weeks. I would be astounded if a thorough investigation didn't eventually occur that revealed GTA management ran off with millions in their personal bank accounts. I wonder how well they thought this through. Did they check with their lawyers to see how well they could hide the money so it couldn't be found & recovered as part of the bankruptcy proceedings? When (not if) the SEC gets involved as a result of them lying about their business to investors, does that open up their personal accounts for scrutiny? Again, IANAL but I suspect these guys are in deep doo doo. It may take a year or two but they'll get theirs. I hope they enjoy their good life for now, as it won't last.

  • Reply 36 of 72

    Jeez? Really?

     

    Junior High much?

     

    I don't even know what you're talking about. But,



    "I'm sticking my head in just long enough to say my thought. And, then putting my fingers back in my ears, saying: 'lalalalalalalaaaaaaaaa..... I can't hear you!'"

  • Reply 37 of 72

    This should definitely be investigated.

     

    Very fishy indeed.

  • Reply 38 of 72
    jungmarkjungmark Posts: 6,882member
    Keep biting the hand that fed you, Frakkers.
  • Reply 39 of 72

    In due time.

  • Reply 40 of 72
    paul94544paul94544 Posts: 1,027member
    Apple is exactly like a Church. They have evangalists, and fanatical supports who genuinely believe their God is ALL good as evidenced by most of the posters in this and other threads - if what they spout can be taken seriously. I'm thinking there is a new element to be added to the two most common in the Universe:


    1. Hydrogen
    2. Human Stupidity
    3. Human Delusion

    Oh and before you nail me up on your Apple "Cross" I do prefer to buy apple devices but I'm not as stupid as to believe all the hyperboli.
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