The Foundary hits a speed bump.

[heyheybooboo]

AMD Announces Adjournment of Special Meeting of Stockholders Until Wednesday, February 18, 2009

They couldn't get a quorum 42% of shares voted to date - approximately 97% of votes cast in favor.

And if I recall my Robert's Rules of Order correctly, 'technically' they should have recessed the meeting - not adjourned (somebody help me with that ...)

 

[polarbear6]

well there are a lots of events and my iq doesnt permit me to co relate all

all in all i dont think people wouldnt care as they are not invited to that meeting(as they dont have any stake)
but it just testifies the fact that amd is feelin the urge to get that no.1 position

 

[Idontcare]

Originally posted by: heyheybooboo
AMD Announces Adjournment of Special Meeting of Stockholders Until Wednesday, February 18, 2009

They couldn't get a quorum 42% of shares voted to date - approximately 97% of votes cast in favor.

And if I recall my Robert's Rules of Order correctly, 'technically' they should have recessed the meeting - not adjourned (somebody help me with that ...)

Isn't it "recess" if you intend to reconvene the same business day, but if you intend to reconvene on a later business day (like tomorrow) then you "adjourn" to that date?

I'm by no means an expert, that's just been the working definition I have used for the two terms. Too much Perry Mason as a kid I guess.

It does strike me as odd though that with 60% of AMD's float being owned by insiders and institutional holders that they could not garner more than a 42% outstanding shareholder vote on the matter.

Typically you have those ducks lined up in a row to vote long before you to the voting date.

For me it is not confidence building to see that they walked into today without so much as having done the prep work behind the scenes to ensure they'd meet the requisite quorum threshold. Yikes!

 

[geokilla]

I just had my provincial DECA meet over the weekend (Quiz Bowl team) and if I remember correctly, ending an meeting is "Motion to Adjourn" so recess is probably right.

 

[heyheybooboo]

I guess it depends on how the proxy was written.

I was always under the impression if you schedule a formal meeting and vote on X day (jump through all the legal hoops, advertise, set the meeting date, send out proxy forms, etc.) it's like a binding obligation that the vote be registered at that meeting.

As far a Robert's, there is no problem with recessing the meeting to a future date and time - but once you adjourn the *official* meeting the entire process has to start again ??? (Notice how I made that a question - LOL)

An adjournment ends a session - any motion laid on the table and any motion to reconsider that has been moved but not called up for vote "falls to the ground" - and may not be 'postponed' to the next meeting. You have to start the 'legal' process all over.

I've got a headache

Maybe AMD has some way in their 'rules' they can leave the vote open and bring it up under "unfinished business" at the next meeting.

This is where those *Robert's* sticklers eat yah alive. They 'point of order' yah to death - but the rules have been around for over 150 years in 'civilized' debate and voting.

 

[Idontcare]

All I can say is leave it to AMD management to fvck this part up too. What a real class act. :roll:

 

[microAmp]

Originally posted by: Idontcare
All I can say is leave it to AMD management to fvck this part up too. What a real class act. :roll:

no more

 

[heyheybooboo]

Originally posted by: microAmp

Originally posted by: Idontcare
All I can say is leave it to AMD management to fvck this part up too. What a real class act. :roll:

Can't really disagree with you on that but in a very small defense of AMD, apparently one of the proxy voting websites was down yesterday during the voting time. Well, according to an email that was sent out by AMD corporate. Still, sad that they can't manage to bring together the top 10, 15 to achieve the requirements.

It was further revealed the servers were running Intel Xeon microprocessors on nVidia nForce pro chipsets

 

[Idontcare]

Originally posted by: heyheybooboo

Originally posted by: microAmp

Originally posted by: Idontcare
All I can say is leave it to AMD management to fvck this part up too. What a real class act. :roll:

Can't really disagree with you on that but in a very small defense of AMD, apparently one of the proxy voting websites was down yesterday during the voting time. Well, according to an email that was sent out by AMD corporate. Still, sad that they can't manage to bring together the top 10, 15 to achieve the requirements.

It was further revealed the servers were running Intel Xeon microprocessors on nVidia nForce pro chipsets

What good is power if you can't abuse it a little?

 

[nerp]

I bought 20,000 shares at $1.90. Maybe I should have mailed in my proxy card a few weeks ago.

Today would have been a decent day for me to dump.

 

[Idontcare]

Originally posted by: nerp
Today would have been a decent day for me to dump.

You know you never should have said that, you've now 100% ensured the stock will fall below $1.90 and never see $2 again for the remainder of AMD's pre-bankruptcy existence...

 

[Duvie]

I owned a condo once and we had proxy votes that required a quorum and I believe that if said X date you set the meeting for it had to happen that date or the whole process has to start over....Therefore recess would imply start again where you left off in that meeting which was the recognize the voting was insufficient. To adjourn or end it would apply here as it will have to be re-advertised, new proxy forms sent out with new date, and the vote counting will happen all over again at the next meeting. So basically it is a complete new event, or a new beginning...

 

[Idontcare]

AMD again seeks approval for major spin-off

After failing to get enough votes for a blockbuster spin-off, Advanced Micro Devices Inc. will try again to get shareholder approval for a plan that most analysts see as critical for the chip giant's financial survival.

http://www.marketwatch.com/new...453B67%7D&siteid=yhoof

I wonder if Hector gets an extra bonus for doing this twice. It is making him work twice as hard, that's bonus worthy isn't it?

 

[exar333]

Sound's like they should be meeting in Abu Dhabi if they want to get enough shareholder votes....

 

[Idontcare]

AMD shareholders approve foundry spinout

But over time, the spinoff's charter will become more clear: It will look for foundry customers beyond AMD. And going forward, the foundry spinoff will focus on ''early adopters for 32-nm,'' said Craig Sander, vice president of process R&D at AMD. Sander will assume a similar role at the foundry spin-off.

''32-nm is probably a starting point for us,'' Sander said in a recent interview.

http://www.eetimes.com/news/se...l;?articleID=214500620

 

[taltamir]

They should change their motto!
"AMD, we can't even organize a vote... and you expect us to make a profit?"

 

[soccerballtux]

This isn't the first speed bump AMD's chips have hit! Ha! 8/10 I really amuse myself sometimes.

 

[taltamir]

aren't they usually missing speed bumps? and getting stuck at existing speed?

 

[Idontcare]

Originally posted by: taltamir
aren't they usually missing speed bumps? and getting stuck at existing speed?

65nm really did not go well for AMD did it. There were denials all the way, but at the end of it they never really got 65nm chips above and beyond 90nm.

 

[KingstonU]

Originally posted by: Idontcare

65nm really did not go well for AMD did it. There were denials all the way, but at the end of it they never really got 65nm chips above and beyond 90nm.

And although 45nm did the opposite and went very well, it is very late to start saving AMD

 

[taltamir]

Originally posted by: Idontcare

Originally posted by: taltamir
aren't they usually missing speed bumps? and getting stuck at existing speed?

65nm really did not go well for AMD did it. There were denials all the way, but at the end of it they never really got 65nm chips above and beyond 90nm.

oh, i meant they fail to "bump up their speeds"... not hit a speed bump (which slows damages your car but doesn't really do anything to your speed)

 

[Idontcare]

Originally posted by: taltamir

Originally posted by: Idontcare

Originally posted by: taltamir
aren't they usually missing speed bumps? and getting stuck at existing speed?

65nm really did not go well for AMD did it. There were denials all the way, but at the end of it they never really got 65nm chips above and beyond 90nm.

oh, i meant they fail to "bump up their speeds"... not hit a speed bump (which slows damages your car but doesn't really do anything to your speed)

:thumbsup: My comment supports that, yes? No real bumps in speed for 65nm sku's over 90nm.