WDC/Sandisk Corporation Message Board

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Technology Stocks : WDC/Sandisk Corporation

WDC 152.76

-5.9%

12:12 PM EST

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To: Art Bechhoefer who wrote (21349)	12/19/2001 6:11:35 PM
From: Ausdauer	Read Replies (2) of 60323

Art, convertible subordinated notes??? What are the advantages/disadvantages of doing this type of offering with the current stock price? What is the logic behind this? I thought we had sufficient cash on hand and that the UMC shares were to be liquidated during 2001, at least in part. BTW, Eli underscored that the costs of moving manufacturing overseas will be covered by Toshiba. It seems the decision to idle DRAM production at Dominion sealed its fate. This decision was made by Toshiba management. We had no interest in DRAM production there. I believe the clean room space was leased. Since Micron is buying the clean room it would seem that SNDK would be excused from leasing obligations since the clean room itself, as I understand it, was owned by Toshiba. Finally, although it will be costly to pack up, ship, reinstall and recalibrate the fab equipment in Japan, it seems sensible to cut bait at this point given the alternative. That is, running a duplicate/mirrored/superfluous fab at less than full capacity in the US. Aus Aus

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