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Technology Stocks : Disk Drive Sector Discussion Forum
WDC 157.79+1.5%3:59 PM EST
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To: Mark Oliver who wrote (5653)2/18/1999 7:26:00 PM
From: Stitch  Read Replies (1) of 9256
 
Mark;

<<So, here's a price tag of $80 million. If Komag were simply buying a production facility and whatever IP was involved, what would it be worth? I guess it all comes down to the basic question of whether they are buying a valuable business, or buying WD's media purchases?>>

Here are the comments I already had posted concerning that.

Message 7880473

<<Stitch, you had recently talked about WD holding back on pink slips. Were these workers perhaps media related? >>

No, I was referring specifically to Singapore factory personnel. But you can bet the farm on the expectation that there will be a considerable number of layoffs coming, mostly in the WDC media mfg. group as Komag will move to cut expense, in fact, to cut out the operation. WDC did a smart thing in that instead of simply excising the operation, which has been a failure for so long it is painful for them to recall, they used it as a bargaining chip for their media demand, gaining some ownership in a firm with a viable process. No thoughts on a secondary but Komag clearly needs to reorg financing/equity and that is why I don't buy into the recent upgrade at all. Shareholders are going to get screwed IMO.

Best,
Stitch
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