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Taiwan Semiconductor Manufacturing Company Limited Message Board

  • cybertrader2oo2 cybertrader2oo2 Aug 10, 2003 10:50 AM Flag

    TSM's CEO and Taiwan politics

    In a dinner meeting in a city middle of Taiwan President Chen ("A-Bian") said that TSMC's CEO (Morris Chang) "has assured" him the economic slump in Taiwan is due to the general economics situation in the world, not due to the politic policy of Taiwan government. He also "has assured" president Chen that 2003 is the bottom of the economics. The economics will recover second half of 2003.

    As shareholders of TSM in United States, we have to ask the TSM's CEO the following two simple questions:

    1. Is that your responsibility to increase the TSMC shareholder value, not the political value of Taiwan government?

    2. Is that your responsibility to solve the processing yield problem at TSMC, not the economic or political problems in Taiwan?

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    • Totally agree with you that SuperMor is not in position to "assure" Rabbit that the economic is good. Furthermore, why should he do that?

      The conversation probably went something like "TSMC will be in deep trouble unless ROC provide another $10B no interest loan, and here is $10M donation to your re-election fund." Or something like "TSMC is a big company and can withstand the $1B sales by DF."

    • Taiwan politics is not my concern. I don't care which political party is right or wrong. I even don't give a shit if Mainland China takes over all of them.

      Look at this message board, full of political bullshits. I also have to use "Ignore" on dozen of posters in order to make this board "readable". I also wonder why these morons not go back to Taiwan to defend for what they believe in. We definitely not need them here.

      TSM may simply not be a good investment. Too much politics involved. Government dumping is one of them. Another one is as cybertrader said; CEO takes efforts to increase the political value of the government, not the shareholder value. Do you want buy a stock whose CEO wants to play the politics at the same time?

    • your a*hole is only for your shit.
      -------

      I guess what people usually like is not a**hole, but a$$hole. lol..... After all, we are in the biz of making $$$, rather than making $hits.

    • Last advice to you: If you love TSMC or Taiwan government so much, why not just go back to Taiwan, to defend your country and your TSMC!
      ---------

      I can see that you now end up with name calling.

      My response to your post challenged your proposition that Morris Chang is, to some extent, involved in politics, kisses President Chen's ass, and is not creating value for the shareholders. I guess you may have overinterpreted things.

      But, challenging your points in your post does not mean I intend to defend for the Taiwanese gov't. Rather, as you can see in a lot of my previous posts, I have been consistently challenging the current Taiwanese gov't in its economic policy making.

      In a scientific debate, when I am against proposition A, it does not mean I am also against proposition B. Both propositions A and B will have to be analysed case by case. Challenging a point or two in your post does not imply I am for or against you or your other posts.

      Personally, I am not on the side of the lousy DPP gov't. To be fair, they can't deliver economic performance. And, now, they are trying to pass the buck by blaming the recession of the technology sector worldwide. That won't explain why they lack a set of economic policy to handle the transition out of the bust of the tech bubbles. Besides, recession in the tech sector in the USA provides opportunities of outsourcing to Taiwan.

      There usually will be some typo in my posts. I apologize for that. Finally, if you feel that my posts are not for you, plz put me on Ignore. Thanx...

    • you didn't respond to the following:

      "To assure A-Bain the economic slump in Taiwan is due to the general economics situation in the world, not due to the politic policy of Taiwan government" IS FAR BEYOND "rountine assessment" of TSM's chip foundary business cycle" as you suggested in your post.

      What TSMC's CEO said is quite obvious, there is no need for any explaination.
      ----------

      I already responded in my previous post. I suggest you to read my post more thoroughly before you jump to any conclusion.

      My argument is simple: I believe TSM's CEO did not say those things that you believe he is saying. You need to examine the exact content of what he did say or did not say.

      In particulr, my understanding is, Morris Chang is likely to explain the cycle of TSM's chip foundary biz, but will not go so far as to suggest that it is the world economy that drag down the entire Taiwanese economy. Rather, what the world economy may drag down is his chip sector. And, it is his chip founday biz that is finally bottoming out in Q2 2003, and is heading for a recovery in the 2H of 2003.

      Morris Chang can't, and won't speak for ups and downs of Taiwan's macro economy. Rather, what he means is primiarily focused on his chip sector. One should not overinterpret this as if he is talking about the bottoming out and recovery of the entire macro economy.

      You can prove me wrong if you can provide the original news link. Otherwise, I will assume that a lot of points in your post could come from your impression and interpretation of some news passing by to you. That is, you could have overinterpreted things...

    • why can't you use your brain to think.
      your a*hole is only for your shit.
      and i don't mind you use it for something else.

    • get a clue:

      Last advice to you: If you love TSMC or Taiwan government so much, why not just go back to Taiwan, to defend your country and your TSMC!

      Take a boat if you can't afford a air ticket. LOL!

    • By the why, where you learnt your English?
      sorry, I didn't know you are not just lack of intelligence to comprehand what people said, you also got problem to learn English. LOL!

      Sorry, moron, Yahoo has invented something just for people like you - that is "igore this user". LOL!

    • get a clue:

      you didn't respond to the following:

      "To assure A-Bain the economic slump in Taiwan is due to the general economics situation in the world, not due to the politic policy of Taiwan government" IS FAR BEYOND "rountine assessment" of TSM's chip foundary business cycle" as you suggested in your post.

      What TSMC's CEO said is quite obvious, there is no need for any explaination.

      If you have read my original post before you response to it, I give my sympathy to you because either you lack of intelligence to comprehend what Morris Chang said or you have your hidden purpose to defend TSMC or Taiwan government itself.

      In the latter case, I suggest you to go back to Taiwan and stay there to defend TSMC or Taiwan government itself.

    • cybertrader,

      Of course I have read your post, and actually I do not quite agree with some part of the points you want to make even though I agree with the rest. Before I go further, there is a wording problem to go over first of all.

      You said:
      ... He also "has assured" president Chen that 2003 is the bottom of the economics. The economics will recover second half of 2003.

      Here, it should be "the economy", rather than "the economics". Anyway, economics is a social science, which does not have the bottom, and does not have a recovery. Rather, it is the economy that will bottom out and then see recovery.

      Okay, the differences of my opinion are as follows:

      1. Your post lacks the original news link, Chinese or English. So, it seems to me that the part about what Morris Chang has said could be just your impression or interpretation of the news event. To clarify the issue, we need the original news link to avoid the intervention of personal impression or interpretation.

      2. Before we see the original news link, however, I guess I can tell you where I have different opinions with some part of your post. First, Morris Chang is unlikely to use the word, "assure", when it is about the ups and downs of the broad economy. He is not an economist or analyst; rather, he is a CEO of the world's biggest chip foundary company. So, usually, he uses his authority in assessing the ups and downs of the chip biz, rather than the economy. Even if he just wants to focus on the chip biz, he still may miss a lot in his forecasts of the bottom and peak of the chip biz. After all, even some well-known institution in the chip circle are revising their forecasts of the growth rate of the chip sector frequently. Anyway, it is very difficult for an expert to forecast the cycle of his own sector. Morris Chang, in this regard, has already done a pretty good job because so far most of his forecasts and talks turns out to be close to reality. He can achieve such results primarily because Morris usually stay with his territory, the chip foundary biz. If he dares to blah blah about the general chip sector, then he may lose his sharpness pretty soon.

      3. As a result, I see that your wording can be rephrased to match the reality more closely:

      He also "has assured" president Chen that 2003 is the bottom of the chip foundary biz. The chip foundary biz will recover second half of 2003.

      4. Before you give us the original news link, I believe Morris Chang never talked in a way to "assure" President Chen about anything beyond his own expertise. Morris Chang does not have any training or experience in assessing the macro economy. Even the Fed chariman Alan Greenspan can't assure President Bush about the ups and downs of the macro economy. Forecasting the macro economic cycle is a very tough job that even the Nobel Economics Prize winner may not do it well.

      So, what Morris can say, however, is the chip foundary biz. The cycle of this segment is closely linked to the cycle of the entire chip sector in the world economy. So, what he meant usually is his segment, his sector, and his expertise. I don't believe he can assure anybody about anything in forecasting or interpreting the ups and downs of the macro economy.

      He may mention in passing that Taiwan's high-tech sector follows the cycle of the US economy closely. But, this is not the same thing as saying that it is the world economy that cause the downturn of the Taiwanese economy. Why? Well, the recession in Silicon Vally create the pressure of outsourcing, which in turn will be a big plus to Taiwanese high-tech companies, including TSM.

      You can prove that I am wrong by providing the original news link, Chinese or English.

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