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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Burt Masnick who wrote (84613)	6/28/1999 5:05:00 PM
From: Gerald Walls	Respond to of 186894

but I think that AMD actually has a valuable SALEABLE asset in the accumulated losses for the last couple of quarters. The cumulative tax loss carryforward must be upwards of $400,000,000. I guess Sanders really has been building value...

To: Burt Masnick who wrote (84613)	6/28/1999 5:14:00 PM
From: GVTucker	Respond to of 186894

Burt, RE: The cumulative tax loss carryforward must be upwards of $400,000,000. As of the year end 1998, the total deferred tax asset was $428mm, but this must also be set off against the deferred tax liability to measure its worth to anyone else. The deferred tax liability was $257mm, for a net deferred tax asset of $171mm, or a little more than a buck a share.

To: Burt Masnick who wrote (84613)	6/28/1999 8:51:00 PM
From: Paul Engel	Respond to of 186894

Burt - Re: " that AMD has an interesting asset that Intel can't even conceive of - a tax loss carryforward...The cumulative tax loss carryforward must be upwards of $400,000,000. " I commend you on your financial insight ! Yes, buying a company with a Tax Loss Carryforward (TLC) - under the OTHER RIGHT CIRCUMSTANCES - can result in the TLC being used to offset PROFITS by the PURCHASING Company. However, I recall Fran Barton - CFO at AMD - discussing that SOME OF the TLC would offset the "profits" on the SALE of Vantis. Thus, the exact amount of TLC may be different than the $400/$500 Million you sited. Of course, buying AMD also implies BUYING their MASSIVE DEBT and their OPERATIONS which are hemorrhaging money - which will EXPAND their TLC. AMD is one sick DAWG. Paul