https://www.extremetech.com/computing/285784-abu-dhabi-reportedly-investigating-selling-its-share-of-globalfoundries
14 replies (most recent on top)
@pee pee dance
Wrong...take a look, sign on those bathrooms, all being converted back to women's bathrooms on March 1st at 12 AM
A pivot, within a pivot... Genius! GF is well on its way to an IPO with TC at the helm. My mind is blown! Watch out TSMC, this is checkmate...
Another interesting article of Mubadala selling GF and an IPO.
https://www.eetimes.com/author.asp?section_id=36&doc_id=1266260&utm_source=eetimes&utm_medium=networksearch
(Take a close look at the date, it's from over 6 years ago.)
@BathroomPivot ... The only successful pivot was when the changed the women’s bathroom to a men’s bathroom. Embarrassing....."
Wrong...take a look, sign on those bathrooms, all being converted back to women's bathrooms on March 1st at 12 AM
Failure was inevitable. They couldn’t even design the build with the correct amount of bathrooms. The only sucessful pivot was when the changed the women’s bathroom to a men’s bathroom. Embarrassing.
While I hope the company and my former colleagues do well, I do not yet see anything sufficiently positive to support an IPO. This is laughable.
1). current investors are poor quality investors. They just want out and do not bring anything to the business. If there were a significant investment from SoftBank, Samsung, ST, Intel, Amazon, or other qualiy investor this would be huge.
2). questionable executive management. While all companies make mistakes, GF made some enormous t really requires huge incompetence to achieve. Hopefully they can regain industry confidence in a year or two.
3). Cant see why the market would be interested in a silicon fab IPO. Its a different era. Marketing ‘GF Inside’ in an IPO is a yawner.
Id say the best liklihood is for a breakup valued acquisition.
http://www.businesskorea.co.kr/news/articleView.html?idxno=29181
They save money on severance by rehiring. If someone got 6 months severance on nov 28 and they go back now they have to repay the amount covering between now and may 28. Smart business for GF if they find someone desperate enough to work for free, help them keep ny tax breaks and save on unemployment insurance. No wonder they are planning ipo. Pivot thinking is groundbreaking. Your heads are exploding!
What kind of incompetent leadership lays off a few hundred workers which then triggers a few hundred more to quit. This leadership then attempts to rehire the laid off workers who have not found decent work in the last few months. This asinine farce will trigger even more losses. I was considering leaving but this has sealed my decision to go.
Maybe ATIC can give IBM $2B to take it off their hands. Seems like a good deal considering the yearly losses.
“positive cash flow this year” – you wish!
About 1 thousand workers were let go; on average they (we) make $100K – so potential savings come short of $B’s in losses reported by Abu Dhabi. Layoff everyone, SLT including - still can’t save that much. Severances paid to laid-off skilled workers defers savings, hiring unskilled replacement nullifies it. Might be able to sell “lots of assets” that generate cash flow, but good luck finding a buyer for money losers. Remember how well it worked for IBM-owned fabs and get ready for our stock Payday...
None of you work here. Tom said IPO in 2022 last month. It is real. Haters gonna hate but we gonna be rich. GF is going to finally have positive cash flow this year. No more money from Abu Dhabi. Boo hoo. Too bad they invested too much early - their loss. GF selling lots of assets with more cost cutting to get there THIS YEAR. This is what Pivot Success looks like. No overpriced new technology. Time to get ready for our stock Payday! Wall Street "Smart Money" will come now that they see the Pivot in action!
What IPO? Are they high or something. You need to show profitability for at least 4 years in order for anyone to even consider underwriting an IPO. GF has consistently been losing anywhere between 400 million and over 1 billion every year throughout its existence. The only reason they got away with it is because ATIC kept pumping them with money.....GF is heading into either bankruptcy or steep cutbacks (asset sales) to try and turn things around.
Also, their leadership coupled with chronic loss of qualified technical personal puts big question mark over whether they have a prayer to pull anything off.....
But many years ago, many ceo before, they also said ipo in 2015.
BS. Tom said we are going to have an IPO in 2022. We should be talking about how much stock we will get. Not these rumors. Wall street is lining up to invest in the pivot.