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Cirrus Logic Inc. Message Board

  • SmartAlec4U SmartAlec4U Jan 13, 1999 2:50 PM Flag

    By the balls!!!

    Teo may be pissed, but that's because Hack has
    him by the balls!!
    13% ownership has not given Teo
    the leverage to removed Hackman
    so the Hack can
    still call the shots. Teo needs allies on the BOD but
    so far Hack appears to maintain control. Hack will
    leave when he's good and ready; Alfred Teo will have
    little to say about that despite his $100M investment in
    CRUS.

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    • I am not writing this to antagonize you but I
      believe that your statements are completely groundless.
      We are in the middle of a restructuring which
      represents a complete reversal of Hackworth's strategic
      vision. This restructuring has produced encouraging
      results already although the large, important pieces have
      not been resolved yet (fabs). Hackworth has been
      marginalized by Teo/French and there is nothing to be
      immediately gained by a crude dismissal of him at this time.
      Things rarely work that way in the corporate level. A
      more realistic scenario is the completion of the
      restructuring with Cirrus either being sold, merged or turned
      profitable and only then will Hackworth "retire" with a
      glowing press release thanking him for his years of
      service and solid management during troubled
      times.

      Teo is in business to make money - not to execute his
      or our childish grudge. He will make money by
      turning this company around. Wall Street will not reward
      the company for firing Hackworth. The important thing
      is that he can do no harm.

      • 1 Reply to Terrapinion
      • Well Said! Hackworth is no longer the problem.
        French/Teo are the solution! I'd like to remind everyone
        that Mr. Teo has been buying CRUS shares consistently
        over the last 18 MONTHS to the tune of well over $100
        mil. He's not "dabbling" with CRUS. This is a
        long-term, major deal for him and we need to be patient and
        see what the coming year brings. I've stuck by CRUS
        ever since I found out Mr. Teo was a major shareholder
        and was buying steadily. I'm sitting on a decent
        profit now (ave. is $9.67) and I'll hang in until these
        fundamentals change.

        Good luck, traders!

 
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