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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Big Bucks who wrote (6657)	8/6/2003 7:06:27 PM
From: Proud_Infidel	Respond to of 25522

This is also NOT GOOD!!!! IRS Proposes $600M Increase in Intel's Tax Liability Wednesday August 6, 6:50 pm ET WASHINGTON -- Intel Corp. (NasdaqNM:INTC - News) received notices Monday from the Internal Revenue Service of a proposed adjustment that would increase the company's tax liability for 1999 and 2000 by about $600 million, plus interest. According to Intel's second-quarter report, filed late Wednesday with the Securities and Exchange Commission (News - Websites), the notice of proposed retroactive adjustment relates to the tax benefit for export sales taken by the company. Intel disputes the proposed adjustments and intends to pursue the matter through IRS and judicial procedures, the company said in the filing. The firm believes the outcome won't have a material adverse effect on its results of operations and financial position, but "in the event of an unfavorable resolution, there exists the possibility of a material adverse impact on the results of operations of the period in which the matter is ultimately resolved." The notices were the result of a regular examination of the company's tax returns, said Intel. The company added the IRS, in future audits, may make similar claims for years subsequent to 2000.

To: Big Bucks who wrote (6657)	8/6/2003 7:06:54 PM
From: TI2, TechInvestorToo	Read Replies (1) \| Respond to of 25522

How long since you were at AMAT? To be CEo you need to have a breadth of skills. Did Sass have those beyond product development skills? tia ti2

To: Big Bucks who wrote (6657)	8/6/2003 7:25:12 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

Re: This tells me that politics is getting cut-throat at AMAT I am not sure this is an accurate representation of his departure, as he will remain on the Board of Directors. BK

To: Big Bucks who wrote (6657)	8/6/2003 8:40:06 PM
From: Jong Hyun Yoo	Read Replies (3) \| Respond to of 25522

I placed a post sometime ago that states the possibility of Sass and David Wang departure from the company. Along with their departure, many senior managers that had close ties with them are also likely to leave the company. Unfortunately for AMAT, loss of Sass is huge as he had been an instrumental force in developing new products and aligning the company in the fast growing market segment. AMAT is prime for another layoff in the fall. The company needs to down size to about 9,000 employees in order to support EPS growth that would be comparable to other major competitors such as NVLS and LRCX. From 23,000 to 9,000, many many people have left AMAT. Looks like the dream of $20 billion dollar company is gone; 7~8 billion look like the peak revenue figure for next upturn for AMAT. Hope that the company improves operational efficiency significantly. Otherwise, AMAT stock has limited upside potential above $30 dollar level.