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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Gary Ng who wrote (54498)	4/7/1999 12:12:00 AM
From: Paul Engel	Respond to of 1570523

Gary - Re: " AMD needs funding(read their latest 10K) and the only way to get that is to be up beat then followed by stock placement or debenture." Excellent point. AMD did precisely this almost exactly one year ago. They let leak a "story" that they would get an equity investment from IBM - or even a buy out. That drove the stock up to around $30 - from about $15 - at which point they shoved $517 MILLION of DEBT into DLJ's stupid customer's hands ! Almost immediately, the IBM rumor proved false, AMD's stock plummeted and Jerry Sanders and his buddy Joe Roby - both directors of AMD AND DLJ - sat on a pile of cash - courtesy of DLJ's now-poorer clients. Wall Street action at its finest. Paul