<< Jerry setting the right atmosphere such that AMD seemingly has the ability to attract top notch engineers >>
AMD made promises and backed out on them. Proof as to whether they could have done a better job is totally irrelevent. The CEO shouldn't have been making promises the couldn't deliver. It's not a big surprise that no one trusts the company when the guidance has been wrong on almost every release date over the past year, and now they keep delaying future release dates. I haven't seen any evidence that Jerry has done anything to create a special environment that attracts engineers. If Dirk (and other top notch engineers) are there specifically because of the actions of Jerry Sanders then he's done some wonderful behind the scenes work. That still would not excuse the mess of things he makes in public, but it would be a strong point in his favor. However, I've yet to see anything that convinces me he's done any such thing.
As for your lack of linking about his attitude, I feel that it's well documented that Jerry has behaved in this way. Most of the megabulls have even agreed that he often hurts the company when opening his mouth. There are definitely examples in the last 2 CCs, but the history of him doing this goes back for many years. If you don't believe it then I'm not going to try and convince you of it.
<< You sure had me fooled. Just read your very own words in this letter. Jerry set the tone for being late on dresden, duron infrastructure, multi-processor chipsets, mobile chipsets, and integrated chipsets. He set the tone for the worst public relations I've ever seen, for marketing that is down right pathetic. < Marketing is lousy, chipsets are a problem, Dresden is late, and you like the company????? >>
I like the company because the Athlon is an awesome product, the flash division is in the right place at the right time, all they have to do is show up. The fact that there are delays on every product means that the company has a major managerial problem communicating dates with the streets and meeting/setting good deadlines internally, however it doesn't take away from the great technology.
<< Which is the exact opposite of what investing books tell you. If you don't trust management, get rid of the stock. Quit giving me excuses. You can always buy AMD later when Hector takes over. >>
So I have to sell the stock because I disagree with you and some book you read? That's really amusing, selling now and buying back later has a large tax consequence for me, and I believe that most of the downside risk is gone because the way things are going if there was a substantial drop over the next 2 quarters the company could probably afford to buy 1/2 the outstanding stock back with cash on hand. |
