Henry Termeer is a big shot. He was former CEO of Genzyme that got sold for 20 billion.
If you read bio's of rest of the BODs, they all come from impressive background.
I am shocked that this is all happening under such an outstanding BOD. I just hope BOD will find a way out of this mess.
The more I think about Apple and Cirrus, it makes more and more sense.
Here are the reasons it makes a whole lot of sense
1. Audio is so central and vital to all the products that Apple makes. It is in all products they make - pcs, ipod, iphone, ipad
2. They can immeditely eliminate other suppliers
3. They can save hundreds of millions of gross profit that audio suppliars make by selling these chips to apple.
4. Apple gets to control the Audio chip design and development. They can throw in hundreds of millions from their their billions and absolutely make the greatest audio chip on the planet
5. Apple has more control over supply chain
6. Apple get valuable, talented employees and all IP associated with Audio Chip technology
7. This will cost pocket change for Apple (probably 2% of their cash)
Granted 8K was filed in wee hours today. But how many investors wake up at 4 and check for 8K?
So before most investors get to read 8K, this so called 'presentation' was made to these crack addicts, manipulative anal-ysts.
Company could have warned yesterday, so investors would have had enough time to react.
How is this FAIR?
You are making too many assumptions even before applying PE multiple.
How do you know GAAP earnings before would have been $2.00? Also how do you know that when they decreased by 7% before, part of that 15% was not accounted for?
2014 estimates are just a crapshoot estimates. Its like predicting weather 1 year out.
Bottomline is no one knows, not even CEO.
only owns 23K shares? according to Yahoo? with 1 million salary?
If regulators want fair treatment to shareholders All the public company CEO's 80% of the compensation should be required in stock!
GMs are like crack for these stupid, MBA type analysts. They pull the trigger as soon as they hear decline in their crack supply.
Is mid 40s GM not good enough for these addicts? What is Apples GM? 37%?
Company board must be very proud!