EETIMES article
https://www.eetimes.com/document.asp?doc_id=1334595#
“This could be a move to simplify things if GF’s parent wanted to sell the company to TSMC, UMC, etc.,” said Bill McClean, president of IC Insights. “I have always believed that owning the IBM fabs would make it nearly impossible to sell GF to a foreign entity, especially these days.”
Enjoy looking for another year or so. By then former GF employees like myself who have a better understanding of how business actually works will have taken the good jobs, not you sound like you would be a candidate for a good job anyway. Next sale will be Dresden, maybe Burlington. The oil sheiks have stopped your allowance, and your fab sure isn't making money. Gotta get cash somehow. My girlfriend is a CPA, so yeah, I do know how cash flow works. I also know that it's wise not to trust the claims from the CEO of an obviously cash-strapped business that doesn't have to follow GAAP, nor produce audited financial statements. Enjoy your job while you have it. Tick-tock, tick-tock.
You are an id--t. How is a 3 year out projected fab sale "making payroll"? Asset sales don't count towards cashflow, so your original premise is WRONG. Like I said, there's a lot of dumb things going on there but you just look even dumber making comments like that. No one on this board believes GF is about to miss a payroll and must sell a fab to make "ends meet" (especially when that sale is 3 years out.) Grow up and discuss things like an adult and people might, just might, take you seriously.
Do you understand cash flow as stated by the lying CEO of a company that has been losing money for a decade? If it weren't for the fab sales, GF would be skipping payroll.
Do you even understand what ca$hflow means, mo--n? You guys really need to get over your GF envy. Yeah, we know GF isn't the best but do your stupid statements just makes you look dumb and GF look better when it doesn't happen. Try discussing things like an adult.
About that cash flow, the article says $600 million. They sold a fab in January for $236 million, and they're selling one now for $430 million. In other words, they only have $600 million in cash because they sold two fabs for $666 million. Looks like a really bright future for GloFo.
“I made my career bringing that fab up,” he said.
No, Tom, you ran it into the ground.
If GF has positive "free cash flow", or whatever cook-the-books-term the bean counters are using to mask reality, then why is the company acting like they're selling everything not nailed down to avoid being evicted?