Even Ghostbusters couldn't beat the facts.
I think they'll still be here. Probably under their 55th names. Unable to give up their delusion, which really was underpinned by nothing real since about 2007. Bankruptcy will be a lateral move for their schizophrenia.
If AMD sold beads it would only have to compete with Michael's and Hobby Lobby and Joanne's and eBay.
But what it is selling isn't beads, and its competitors are Intel and nVidia, so yes, AMD has bad products, not bead products.
Just to clarify how this works: The bank now owns the house. You don't. You are under water. When the loan is called or the bankruptcy is entered, you get chased off and the bank takes the house.
The BoD works for the banks, now. Not for you.
Is that why he lost his original login name? Racism?
That makes me like him even less than his Daliesque view of global economics and utter crackpottery regarding physics. Now I don't mind so much that he's started hating on me.
Their holdings of what?
They have to preserve cash because this business takes a large cash balance in order to run. What the quarterly report doesn't show you is the weekly and daily fluctuation as customers pay and vendors and employees and partners and creditors are paid.
And it's not sufficient keeping the cash balance above zero. There are loan covenants that call the loans when certain cash limits are breached.
Kumar, in addition to being a lying loudmouth, will know well ahead of you that the game is up. He'll put a red flag in the flower pot on his balcony to tell his third cousin twice removed to pull the trigger on massive short orders, then he'll drive in to the office and inform the rest of the C-suite.
When has this board ever exhibited a propensity to show responsibility to shareholders in general?
Nor would it matter. The shareholders at the moment are sitting on negative equity. Cancelling the shares at this point would cost you nothing. There would be no basis for claiming you lost anything, because you have less than nothing to be lost.
" When the dust settles all common shareholders are left with zero equity. "
They already have negative equity.
What they'll be left with is no ownership. Their shares will be cancelled. They aren't stripped, they're simply mooted. The banks argue in court over which of them gets how much of whatever can be said to exist of the company. The common shares and common shareholders no longer exist.
With the Fury flop, and the repair work to be done on it, cash burn could be up to $200M this quarter.
There's also the matter of writing off that huge inventory buildup from Q2...
They don't have until 2020. Debt starts coming due in 2017. Cash is critically low, old products are becoming unprofitable, recent projects are flopping, and nothing big is forecast to be released until a year from now, if then. Those projects will be facing future competition as well.
Bankruptcy is inevitable. The company is basically bankrupt already, but through accounting appears to be solvent. The pretense of active development gives Mubadala time to siphon the cash to Globalfoundries. When they can no longer keep up that flow, that's when the whole charade will be left to collapse.
When will that happen? That's a stochastic process. The probability of any given day being the day they walk out on you is nonzero and climbing every day.
AMD is a walking bankruptcy. It's being propped up so its cash can be siphoned off before filing.
Does this article count all the graphics cores AMD has pitched into the incinerator to satisfy GAAP?
Seriously. Read it. The pumpers can't refute it. Neither can you.