https://www.fabricatedknowledge.com/p/global-foundries-s-1-breakdown
Analysts all coming to similar conclusions.
8 replies (most recent on top)
@3djv+1dfIhwFe
There is no responsibility concept for GF management as long as it is not their money. Anyway, many outsides are preparing to ride on GF IPO and I don't feel bad if they lose everything as they are just opportunists not knowing what they buy. Perhaps, GF might face class-action lawsuits like DIDI or Honest Company for concealing key info in its IPO filing.
Tom is just aiming for his golden parachute and 1% of IPO value while other VPs and HODs are aiming to cash out their shares (maybe 25% of it if there is a holding period).
To them, it is still better than none if Intel buys GF and terminates them. The exodus is ramping up where top management is fighting for their spot in Noah's Ark before the flood covers GF. For us engineers, we have to rely on our swimming skills to swim to higher ground (other companies).
it's almost like they're hoping that with all the recent IC shortage buzz, and a bull market, that people will blindly throw cash into the company
and the big question for all of us is, do you expect the company to be more responsible with public investors' money vs. Mubadala's?
It’s unbelievable how all the upper management do not read and share articles on LinkedIn. The upper management has been sharing and liking the economist article (https://www.economist.com/business/2021/10/09/the-ipo-of-globalfoundries-is-perfectly-timed). At the first the headlines is awesome but then the next line is “ It is also a risky bet for the chipmaker” and they end with “ Investing in GloFo will therefore be a wager that the company can ride the current tailwinds in its industry and start making serious money. But it may also be a bet that another firm snaps up GloFo for itself. In July it emerged that Intel, the world’s largest chipmaker by revenues, was in takeover talks with the firm. These did not go anywhere because the parties could not agree on a price. Once GloFo is listed it should be clearer how much it is worth. Negotiations could restart. Then again, with GloFo’s numbers now public, Intel may have a hard time convincing its shareholders that it needs to pay the $25bn that GloFo is expected to fetch”. Now I am not really sure if the SLT supports the IPO or the fact that it will be sold cheaper than the initial rumored $30 billion. Just goes to show the kiss-a-s leadership.
I can buy that the BU leaders, sales folks and account managers need to be in California. But it does not justify the folks In Supply chain who are directly working with fab planning, execution, sales to be in California it is just a stupid excuse.
In supply chain, the execution folks are correctly located in at their respective fabs, but that does not justify the supply chain leadership to be in California. Also we have all the account managers and sales folks correctly located it is only the supply chain leadership wasting money all around. Looks like @1vyc+1dfIhwFe is one of the supply chain leadership member justifying the existence. I did not say the gf should have the office there I said keep the right people required there and reduce the cost my moving other folks to Malta due to low salary and reducing travel budget. Especially when you are in a big cash crunch scenario. You do not have to save money by reducing salary increase to less than a percentage. People are the ones that are working to achieve GF goals. Additionally Tom had himself mentioned that labor cost is highest in the operating costs.
Sorry, but Si-Valley is there all GF customers are -
https://www.google.com/search?q=semiconductor+company+silicon+valley+map&prmd=inmxv&sxsrf=AOaemvJ3pGQPKmyjozbuShwGdNFjaobavw:1633977771815&source=lnms&tbm=isch&sa=X&ved=2ahUKEwinkqPFgcPzAhXDop4KHVrwBvwQ_AUoAXoECAIQAQ&biw=412&bih=722&dpr=3.5#imgrc=z_es2nKNcflhWM
None in Malta, NY.
And all wafer foundries have offices in CA, just look at the map.
Meanwhile there is the supply chain clan sitting in California instead of being in Malta spending money traveling all around the world and eating at fancy restaurants. Their justification of being in California is that they are the talent and cram of the crop and that they are untouchables. On top of that they come up spending millions over the stupid IPS that does not work. IMIT is another department that has brilliant ideas on how to waste money.
And I wish they'd stop wasting $$Ms on 2 crooky consultanting firms and use $100s Millons savings to double our raises.
How about that!
Oh so unlike what that liar Tom has told us, the company actually can’t afford to pay us.
Ah I wish they would just say that.