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GT Advanced Technologies Officially Announces Sapphire Settlement With Apple

Michaelgtrusa said:
I don't see you looking for one do I? Your only interested in made in china and that's a shame, now look at the nation.
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So it is China's fault? LOL! The current solution is fine having Foxconn and other oversea suppliers as resources. Plants are going to be built outside of the US. That's a fact. Look elsewhere at the state of the US. Shame you are too myopic and quick to blame another country for your own faults.
 
hudson1 said:
What's "a lot"? I've been in the materials business for a long time and I've very rarely seen unethical CEOs.

My guess (all it is) is this company was in over their heads and Apple didn't recognize it in time. It's not hard to believe considering no company has a track record in trying to do do what they ultimately failed at.
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Where is this fantasy land? There are plenty corrupt CEO's/COO's, it's just being pointed out due to Apple being involved!:cool:

Yes, there is plenty of good ones, unfortunately thet doesn't make the news.:(
 
Iconoclysm said:
That is an absurd amount of money for a company producing virtually nothing. I'm still thinking back to that sales guy GT let go around April 2014 who claimed on his resume that he sold the sapphire idea to Apple. I'm guessing that's part of why he was let go, also guessing that he might want to remove that from his resume.
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Why would he remove that from his resume? If he's looking for a job in sales it stands as proof he can close the big deals.
 
OatmealRocks said:
So it is China's fault? LOL! The current solution is fine having Foxconn and other oversea suppliers as resources. Plants are going to be built outside of the US. That's a fact. Look elsewhere at the state of the US. Shame you are too myopic and quick to blame another country for your own faults.
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Where did you here me out the blame on china? The blame goes to the Us and European banking sectors that control the jobs, but of corse you didn't know that judging from your post. We allow china to lie, steal and cheat!

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rsocal said:
Where is this fantasy land? There are plenty corrupt CEO's/COO's, it's just being pointed out due to Apple being involved!:cool:

Yes, there is plenty of good ones, unfortunately thet doesn't make the news.:(
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Ross perot is a good one.
 
Michaelgtrusa said:
Where did you here me out the blame on china? The blame goes to the Us and European banking sectors that control the jobs, but of corse you didn't know that judging from your post. We allow china to lie, steal and cheat!

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Ross perot is a good one.
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Pot calling the kettle black.

You must be confused. One one hand you calling me out for stating unethical CEOs and risk of business in US and now you are stating US and the 'unethical CEOs' in the bank sector sector. Yet you don't offer any solutions but say I am against my country when I stated facts which you also used as a talking point.
 
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DaveN said:
It doesn't take much inference to conclude that GTAT had problems making sapphire boules heavier than 165 kg. Apple doesn't get to keep rights to GTAT's patents but GTAT gets free and perpetual use of Apple's annealing patent.



So the bottom line is that GTAT just couldn't make the big stuff like they promised. Sometimes you think you are closer to solving a manufacturing problem than you actually are.
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It happens all the time. At 65 years old commercial fusion power has always, according to researchers in the field, been 'a couple of decades' away my whole life.
 
rsocal said:
Where is this fantasy land? There are plenty corrupt CEO's/COO's, it's just being pointed out due to Apple being involved!:cool:

Yes, there is plenty of good ones, unfortunately thet doesn't make the news.:(
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Name them.
 
proline said:
I don't disagree that that's an 'obvious' thing to consider, but it doesn't really add up, and it doesn't explain Apple and GT's conduct here, which seems to mostly close the door on this tech entirely (there is some blah blah blah language in the press release that muddies the water a bit). Another possibility is that GT was able to meet early quality control tests with a different more expensive manufacturing process, and actually misrepresented their ability to create sapphire in volume at low cost.
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The problem is, no other explanation completely adds up either. I can't imagine GT having the opportunity to misrepresent anything. I'd like to think Apple is smart enough not to drop $500M on a process without being deeply involved with and informed on every detail. All we know now is that GT wasn't able to produce what Apple wanted, either in cost, quality or quantity. Why, we may never know.
 
'...Apple is provided with a mechanism for recovering its $439 million pre-payment made to GT over a period of up to four years without interest, solely from a portion of the proceeds from ASF® [Advanced Sapphire Furnace] sales.'
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Wow

stevers said:
And that's what happens when you scroll to the bottom and click Accept without reading an agreement.
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L:apple:L

DeadSeaMac said:
I guess when you're company is valued at over $700 Billion dollars, you can make 1/2 billion dollar mistakes and brush it off as "live and learn." :confused:
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Hope those $3B headphones work out.
 
Tycho24 said:
What's baffling is Apple is getting SO screwed. They are out of the money, they don't get exclusivity, they don't get interest, they don't get patents or rights or anything really.
They helped a company that could have NEVER come up with the cash, create a technology that ONLY their competitors will benefit from... and for that, get NOTHING.
I've literally never seen a company get a better deal than GT. The main players cash out stock before a 90% dip, they get an ENORMOUS investment in new tech and equipment, & do not have to do a damn thing in return!!!!!
What is going on????
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It sounds to me like Apple didn't do a very good job with this GT deal. IMO, it makes them look foolish.
 
IJ Reilly said:
The problem is, no other explanation completely adds up either. I can't imagine GT having the opportunity to misrepresent anything. I'd like to think Apple is smart enough not to drop $500M on a process without being deeply involved with and informed on every detail. All we know now is that GT wasn't able to produce what Apple wanted, either in cost, quality or quantity. Why, we may never know.
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I've been maintaining this stance during this whole debacle. It's nearly impossible for me to believe Apple was blindsided or had no idea what was going on. They invested heavily, they had exclusivity - and they are Apple. I am sure they not only vetted GTAT well but that they were on them during the entire process like a helicopter parents.

At the end of the day, people shouldn't believe statements released by either party. That's not where the truth lies. Especially given that neither party is able to disclose details about the agreement.
 
samcraig said:
I've been maintaining this stance during this whole debacle. It's nearly impossible for me to believe Apple was blindsided or had no idea what was going on. They invested heavily, they had exclusivity - and they are Apple. I am sure they not only vetted GTAT well but that they were on them during the entire process like a helicopter parents.

At the end of the day, people shouldn't believe statements released by either party. That's not where the truth lies. Especially given that neither party is able to disclose details about the agreement.
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I agree, details are being covered up to protect reps.
 
samcraig said:
I've been maintaining this stance during this whole debacle. It's nearly impossible for me to believe Apple was blindsided or had no idea what was going on. They invested heavily, they had exclusivity - and they are Apple. I am sure they not only vetted GTAT well but that they were on them during the entire process like a helicopter parents.

At the end of the day, people shouldn't believe statements released by either party. That's not where the truth lies. Especially given that neither party is able to disclose details about the agreement.
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Well, yes. But this still leaves open the question of what went wrong. We may never find out short of the bankruptcy court unsealing documents that both companies seem anxious be kept private, and that is only likely if the shareholders sue, or another GT creditor makes a good case for it. The other possibility is one of the insiders talking to the media. With so many people being fired, it will prove near impossible to keep this information totally tamped down.

The other question is whether any of this is actually important to Apple's future. In the larger scheme of things, I suspect not much.
 
IJ Reilly said:
Well, yes. But this still leaves open the question of what went wrong. We may never find out short of the bankruptcy court unsealing documents that both companies seem anxious be kept private, and that is only likely if the shareholders sue, or another GT creditor makes a good case for it. The other possibility is one of the insiders talking to the media. With so many people being fired, it will prove near impossible to keep this information totally tamped down.
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But we would likely only get their version of the truth or their piece of what they know. It's highly unlikely that the "true" and full story will be known.
 
samcraig said:
But we would likely only get their version of the truth or their piece of what they know. It's highly unlikely that the "true" and full story will be known.
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Not sure what you mean, but in the case of a shareholder lawsuit at least, lots of internal discussion could be disclosed through discovery. I'd be surprised if we didn't see a class action suit filed on behalf of GT's stockholders.

EDIT: Whoops, too late!

http://www.classactionsnews.com/inv...es-gtat-securities-fraud-class-action-lawsuit
 
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