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Technology Stocks : Zenith - One and Only
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To: stilts who wrote (6349)10/7/1999 8:50:00 AM
From: Robert Utne  Read Replies (1) of 6570
 
True, Zenith has been decimated in the transition from an analog-based consumer electronics and network systems manufacturer to a digital-based company. Transitions are never easy nor cheap.

I've seen Zenith's state-of-art production facilities in Chihuahua, Mexico where it manufacturers digital set-top boxes and integrated receiver decoders for Americast and News Corp. This operation, alone, has the potential of a multi-billion dollar business.

I'm also aware that LGE has firm plans to take all of Zenith's HDTV technology to China where it plans to manufacture HDTVs for the American market. Wonder how Rich Citta, the Zenith engineer who invented 8-VSB, loves those apples...

The basic issues, however, involve fair corporate governance and the precedent-setting nature of the LGE "restructuring" of Zenith. To whitewash this case in Federal Bankruptcy court will weaken our ethical values and economic strengths.

As previously stated, this would be a very dangerous precendent if allowed to proceed. It would give the green light to all corporations around the world that the best way to acquire an US corporations is to control the company's board, weaken it through self-dealing acts, become the sole unpaid creditor and go to Bankruptcy court to acquire 100% ownership.
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