Message 3395755
The last paragraph of the above post is good stuff, only wish people stick to their promises.
Lunch was fun and we should do it more often. It was no trouble and will be glad to arrange same anytime. How about when QCOM hits 80?
Tim A, since you want the lighter side, the best question at the shareholders meeting today was from some old guy. He asked Irwin if he had considered rewarding the loyal shareholders with some type of discount off the phone service. Another wants to know if QCOM is going to pay a dividend soon. Irwin was more tactful but I would have suggested that he go buy some utilities instead.
Michael, the meeting was real good. The part that I like is Korea had pretty much been completely written off for now, so further surprises are unlikely. Europe is dreaming if they think they can steal QCOM's CDMA IPR for nothing. More abstract is the general message that QCOM is not a QmniTracs company, not a royalty company, not an ASICs company, not a handset company but a telecom giant to-be.
QCOM has so many irons in the fire that managing growth is probably a bigger problem than growth itself. They have to strategize and budget their relatively limited resources. The CFO hinted at various financing instruments currently in the plans to support growth. Irwin and management came across very level headed, unwilling to accept unnecessary risk just to get business. Vendor financing can be a double-edged sword, if vendor finances the wrong projects.
Finally, for those who did not attend the luncheon today, Maurice looks like a normal person, not the soap box politician that his posts may lead one to visualize.
Ramsey |
