Tunc has been in command for almost 2 years and seems to have this company in a tail spin. He shows no leadership to drive this company into new products/markets but instead cuts sand from the ballon to keep it in the air. It appears that this company now run by bean-counters. What's the next cost saving method? Maybe it's metered parking in the garages.
Maybe it's time to give Pirooz a chance.
I wonder if Jack is looking for a job?
Good luck to all
jacko the wacko put the company in this position. Why would you think his mindless Kool-Aid drinking sycophants could (would?) turn it around? they will just to loot what money they can personally and run for it…..just like jack did.
It’s been clear to me for quite some time that all new management will be required if maxim is going to be turned around. With the economic situation now it may be too late for that to work. Everyday that goes by without the house being completely cleaned is one day maxim is closer to being tossed on the scrap heap of the semiconductor industry.
All of course IMHO
A big part of the problem is the recession. Consumer electronics/PC's have been a big part of the semiconductor revenue pie. Those slices of the pie are going to suck for a while until wistful consumer spending resumes (if it does).
Bottom line: Too many suppliers of semiconductors competing and pushing the margins down. It will stay that way until half of the suppliers either die off, get merged, or there's an economic boom (fat chance!).
.. and the recession happened because too many copycats copied other copypcats, instead of developing truly innovative products that would fly off the shelves. Look at most semiconductor companies, instead of competing in inventing new wonderful products, pretty much the only competition is in the area of reducing costs, screwing employees out of their salaries and bonuses, and shipping operations overseas or to low-rent areas in the US. Maxim is no exception, although for a while they fooled a lot of people with their "industry firsts" in spite of a shockingly small number of patents, virtually no presence at professional conferences, and very few papers published in technical journals. The recession is long overdue, and we deserve it for sucking up to the likes of Jack Gifford, petty criminals riding the high-tech wave.
My expectation was that Tunc would cut, consolidate and reorganize as much as possible to position for growth after the return to Nasdaq.
If Tunc shifts gears towards growth at this point, it would be appropriate to be patient and give his strategy a chance.
On the other hand, if the situation degenerates into a Bob Nardelli style slash job then its time to send Tunc to the unemployment line.
What Nardelli did at Home Depot was to incrementally slash staffing and resources to cook an appearance of improvement on the books. Consequences in terms of declining customer and employee moral lagged illusionary improvements on the books so investors were fooled for a while. Now Nardelli is at GM and lobbying Congress for a taxpayer funded bailout in what constitutes little more than a publicly funded license to mismanage.