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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (42715)	1/15/2009 1:58:13 PM
From: The Ox	Read Replies (2) \| Respond to of 95536

We will finally see M&A activity in (the semiconductor equipment) space Don't count on it. Sure, there will be a few that will be forced into this but I doubt the mentality of the SCE industry's top mgmt will change. Since they are pigs at the trough, they don't worry about shareholder value, they are only worried about their next set of cheap(er) options. They get salaries to tide them over while they run their businesses into the ground. Always looking at the bright side, regardless of what the realities of the industry are, the CEOs/CFOs and the few people in charge will rarely "do the right thing" for their shareholders. We'll see. It sure looks like there are many companies that would benefit from a merger/acquisition. Unfortunately for shareholders, by the time many of these companies will be open to the merger concept, they'll have little to offer the other company. As only one example, take a look at ACLS. Offered over $6/share in early 2008 and turned it down. At this stage, they'd be extremely lucky to get more then $2/share. The merger with SHI would have substantially strengthened their position in the industry and they could have seen substantial synergies with their SEN sister. Who knows? Maybe ACLS will survive this protracted downturn and emerge from the other side in a better position. I doubt it but its possible. From the look of things, they can't even get their financing act together and in the next few days they have close to $90 Million coming due. Nothing like waiting until the last moment to make sure you're in the weakest position possible but it appears to be the mentality of many of these smaller companies top mgmt. Stubborn 'til the end! jmo TO