Then the CEO (the person I presume you are referring to) should have dumped a lot more stock. As it was, he sold $160k worth and ended up getting stuck with a whole lot of worthless shares. Good luck making something criminal out of that.
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GT Advanced to Eliminate 727 Jobs at Mesa, Arizona Plant
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Then the CEO (the person I presume you are referring to) should have dumped a lot more stock. As it was, he sold $160k worth and ended up getting stuck with a whole lot of worthless shares. Good luck making something criminal out of that.
4. Huge media buzz about all the Galaxy S6 screens that shattered the first time they were dropped
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they may not have to. Who knows what the terms of this contract are. For all we know, if it's not voided then Apple may be able to argue that they actually own the plant which is likely to currently be listed as a GT asset. All because of a contract term that says that if GT doesn't pay back the loans that built the factory and provided the equipment, Apple gains ownership. We'd have to see the papers to know
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You assume the dream was to use Sapphire for phone screens. That might have been nothing more than a crazy fantasy
And this insider, with knowledge not available to the investors, setup a sale over the next 6 months to the tune of more than $1.5 million dollars to finish up right before it was known to the public that the company was hosed.
It feels like bankruptcy was the easiest way for the CEO and other insiders to shield themselves for a few months while they move as much value out of the company as possible.
http://appleinsider.com/articles/14...-after-sapphire-deal-with-apple-began-to-sour
Although my insider trading amount appears to be off on the low side.
COO $2mill
CEO $10mill
Hope the SEC and the courts throw the book at them and Apple spins off production.
Although my insider trading amount appears to be off on the low side.
COO $2mill
CEO $10mill
Hope the SEC and the courts throw the book at them and Apple spins off production.
Insiders selling stock is not insider trading. The tech web sites don't have a clue about the distinctions between what is allowed under SEC rules and what is not. Get back to me if and when the SEC announces an investigation, not when some clueless web site runs a clueless article.
Why you think Apple would want anything to do with this clearly failed business is beyond me.
Apple essentially paid for the furnaces and the plant, it may still want the product for something ( or to keep it off the market ). In that case they may want the facilities and personnel sans management.
Apple essentially paid for the furnaces and the plant, it may still want the product for something ( or to keep it off the market ). In that case they may want the facilities and personnel sans (top) management.
Middle managers are likely innocent here.
Do we even have any insight as to what the exact problem was?
We will find out, but in the meantime the evidence suggests that Apple's only interest in the plant and equipment will be to recover some part of their investment. If the technology at these plants was meeting expectations then GT would not have filed for bankruptcy. Since it seems it wasn't, and they did, I can't see at this point why Apple would want the plant and equipment for anything more than salvage value.
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Not that I have heard. Some details will probably emerge from the bankruptcy hearings.
Apple are not in the business of charity work so don't expect them to bail them out.
I wouldn't rule out Apple making a move when the company has been complete decimated though. Lowest price and all that. Now is the wrong time to buy.
It's already completely decimated. Nothing to buy here. The bankruptcy court judge will decide who gets what of GT's remaining assets.
No matter who's at fault or how much you spin it any way you want, one person looks like a complete buffoon here...
Apple's new CEO, that new Apple visionary Tim Cook!
Your opinion is so innovative.