Jack -
I never called anyone stupid.
I present a point of view that is a bit contrairian to most on this AMD thread. I also point out factual information, publicly documented (San Jose Mercury News), regarding the wanton disregard of shareholders' assets and exploitation of AMDs finances for personal luxury expenses by Jerry Sanders - namely a personal chauffeur and limousine provided for his personal and exclusive use by AMD.
Mr. Sanders has also misled shareholders, in public statements, in the past regarding AMDs ability to generate x86 code compatible with Intel yet developed independently of Intel.
Further, he has offered schedules for product introductions of
members of the K5 family that were off by 9 to 12 months, further eroding AMD's market share in the x86 marketplace.
After investing 3 years of AMD's R & D efforts, these K5 (actually, the K6) designs were abandoned and again, shareholder equity was used to purchase NEXGEN for an outrageous sum ($600 - $800 million) in order to compete with Intel in the x86 business. NEXGEN had a single product and they were losing money every quarter on this product.
Mr. Sanders also purchased MMI, the inventor and leader in Programmable Logic Devices in 1987. I believe you shareholders paid about $300 - $400 million for this business.
Mr. Sanders has managed to take this first place position, with the commanding forces of AMD's manufacturing facilities, and bring it into fourth or fifth place from its number 1 position, and sinking fast.
No, Jack, I called no one stupid.
If you interpreted my remarks that someone may be less than intelligent by investing their hard earned money in a company with this track record, wanton disregard of corporate assets, and preference for supplying disinformation to shareholders, then that is your inference. I, however, would not argue with it.
There are better places and better people to invest with.
Paul |
