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Analog Devices, Inc. Message Board

  • analog_info analog_info Sep 27, 2001 10:17 PM Flag

    Hey-- Kat-Magic-Hijo

    As much as I enjoy watching informed controversy, I think dedicated long-term holders like yourselves are doing your blood pressure a disservice by taking the bait of these short-term trader types.

    Ignore them for a while, and they'll go away.

    Their assertions may have the ring of truth--but the spin is so deep that they make it awfully hard to fit the morsels of fact behind those assertions into the perspective of a healthy company in a currently crappy business--and it's not really worth the trouble!

    But there is one historical assertion I'd like to straighten out from my own knowledge--that the Pastoriza acquisition itself "put ADI on the map." I was there in 1969, at the time of the Pastoriza acquisition, when ADI, after achieving primacy in precision op amps, had decided that the converter business would be important. At that time, Pastoriza was a TINY company with products that were expensive laboratory curiosities. Immediately after the acquisition, two key Pastoriza engineers bailed and formed a competitive company. Jim Pastoriza himself left a couple of years later, leaving behind some good IP; but engineering, marketing, manufacturing, and business operations were taken over by ADI (under Ray Stata) and turned into a market-leading converter business with a completely different cast of characters.

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    • Along w/ magic, I appreciate your Pastoriza backstory. I was working for ADI back in 1977-78 and remember some rancor w/ TI. Any real drama there beyond natural competition?

      • 1 Reply to profpeartree
      • I can't recall any significant problems with TI that came to my attention in the late '70s. I thought we were somewhat below their radar at that time, and they were beyond our horizon.

        On the question of pay cuts for the highest-paid employees, brought up by someone else, this quotation is from ADI's 3rd-quarter announcement, dated 16 August:
        <Sales, marketing and G&A expenses have been reduced 22% from their peak as we continued to aggressively manage expenses, which included eliminating bonuses, reducing pay for the highest-paid 25% of our employees and taking actions throughout the company to reduce discretionary expenses.>

    • Thanks for the tip, taking a "chill out" pill
      and will just continue to wade through the spew of the shorties......

      Appreciate the little slice of history, you must be a very long term holder of ADI.

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