Steve, >>>" Any lower and NSM becomes a
GREAT take over candidate."
What makes you think that all struggling companies get bought out by deep pockets saviors? Why, some companies, or divisions of bigger companies, are just not wanted by anyone. What if you put up a company for sale and nobody made an offer? In the annals of the semiconductor industry (plus one computer guy), would you care to tell me who bought the following? (some, I admit, go back a ways):
Transitron
Sylvania IC division
Philco IC division
GE IC division
Westinghouse IC division
Raytheon IC division
Mostek
RCA Computer Division
Fairchild (NSM, but where are they now?).
Amperex
Intersil
AMI
Litronix
Harris
Monolithic Memories
Solitron
Electronic Arrays
A lot of these companies had pretty damn good products in their time, but nobody bought them (I may be wrong on a couple).
Another point about National is that they have the worst reputation for being a sweatshop in Silicon Valley. Treat engineers like commodities, burn-em out and replace 'em, no problem. This dubious distinction is approaching 30 years running with National now. Who'd want to buy an immediate morale problem, especially one associated with a company that is now losing BIG bucks. Also, what compelling products do they have any more, that would lure a TI, Motorola, Siemens or Philips?
I wouldn't use that 'oh, someone'll buy 'em if they get much lower' reason for buying their stock at any price, no matter how low.
Tony |
