AMD Names Rory P. Read President and CEO

[bridito]

Cultural clash?

Yes...the last thing AMD needed was to look inwards and address its cultural shortcomings...with everything it had going for it, it was surely bound to succeed if only it could retain its corporate culture!

Look at how badly that went for Apple when Steve Jobs came back :hmm:

Instead they sort of became an amalgam of second-best-of-breed. Neither the leader in CPU nor GPU. Shareholders rejoiced, employees fell over themselves with their bonuses and salary raises, morale shot to all-time-highs. (not)

Instead, they became so loaded with debt and sapped for cash, preventing them being effective in doing necessary R&D, that they had to spin-off their fabs as well as dilute their existing shareholders by issuing 58 million new shares of stock to Mubadala to raise cash and offload debt.

That's ace management right there :thumbsup:

I'm no stranger to boardroom incompetence but in any other industry but CPUs, this sort of monkey business would have led to bankruptcy court years ago. AMD makes Enron look well managed. 😀

 

[3DVagabond]

All very true. Let's not forget and leave out the anti competitive shenanigans from Intel though. Not that that would have improved the managerial errors on AMD's part that forced a lot of "crisis management" decisions.

 

[bridito]

All very true. Let's not forget and leave out the anti competitive shenanigans from Intel though. Not that that would have improved the managerial errors on AMD's part that forced a lot of "crisis management" decisions.

Intel is no virgin angel, but at least they have managed to maintain some level of shareholder value through some very tough times for the tech industry. They've held the bleeding down from $27.73 at the pre-recession high to $19.64 today. Compare that to the $40+ value of AMD then and the six bucks and change now. Ruiz is largely to blame for the disembowelment of the company, and he may also have a hand in global warming, tsunamis, and the famine in Somalia.

Yeah, that's how much I hate the dude. 😀

 

[Idontcare]

He's your dad, isn't he, fess up.

 

[bridito]

He's your dad, isn't he, fess up.

First he was gonna take my wife away, then I was his wife, now he's my daddy! I'll never tell! ()🙂

 

[Idontcare]

First he was gonna take my wife away, then I was his wife, now he's my daddy! I'll never tell! ()🙂

No wonder you have such strong emotions for the man, after all that I would too!

 

[bridito]

No wonder you have such strong emotions for the man, after all that I would too!

Yup, I guess he did to me what he did to AMD. 😱

 

[sm625]

Funny how the guys name has already been misspelled at least twice on this thread.

I'm selling my AMD stock!

I cant give investing advice but I must point out that I'm seeing a very strong potential buy signal on the weekly chart. It is targetting well over $8. AMD Jan 12 $7.50 calls are currently trading at about 60 cents. If AMD goes to $8 in the next 6 weeks those calls will triple. I would hedge with october $6 puts @ 42 cents.

If I had actually made this trade 5 weeks ago I would close it out today for a decent profit. The calls are worth 21 cents which is a ~60% loss, and the puts are worth 84 cents, which is a 100% gain.

 

[sangyup81]

i wonder if he'll sell their hardware business

AMD got rid of their "hardware business" long ago. Global Foundries used to be part of AMD until the AMD-Intel lawsuit settlement where Intel waived the requirement for x86 licencees like AMD to physically make their own chips.