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Patience29

Patience29
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  • The Squiller Declaration: Apple's Onerous Terms Dilineated [View instapost]
    @XenaLives~

    "Other GTAT prospects were ignored in favor of Apple." Also:
    "....... a big name sucked up weeks of management's time and in the end - they were just trying to pick our brain."

    Who's fault is that? This is how negotiations work. You want to service another company and supply them with their needs? You've got to give them some IP or they won't have any idea what you're offering and how it will fit with their requirements.

    GTAT shouldn't have bitten off more than they could chew and keep accepting and burning through $millions in prepayments, and then default under the terms of the agreement... all the while knowing for months that their product wasn't going to work and/or work under the time constraints of the agreement. Also...GTAT’s management reiterated guidance on August 5th and was confident even then that they would receive the final prepayment from Apple by the end of October '14. That's pretty astounding.

    "It is evident now that GTAT did not meet the required metrics to receive the final prepayment from Apple. In addition, GTAT burned through $248m of cash during the past two months leaving it with just $85m of cash as of September 29th." - Matt Margolis

    I believe that says it all.

    You also stated:

    " Let the little guys create and then try to absorb them by any possible means, regardless of ethics or legality"

    That sounds more like Mitt Romney's Bain Capital than it does Apple. As well... regarding the ethics & legality of their actions: the officers of GTAT need to give themselves a good hard look in the mirror.
    Nov 10, 2014. 10:30 AM | 1 Like Like |Link to Comment
  • The Squiller Declaration: Apple's Onerous Terms Dilineated [View instapost]
    Hi Richard~

    Appreciate the reply. Here's the thing tho'...no one put the principals into a charlie horse and forced them to sign this agreement with AAPL. Their Contracts Department and/or outside legal counsel should have raised flags if they thought, upon scrutiny, that compliance with the agreement was just not possible. If Apple would not renegotiate terms, then they should have just walked away from an apparent one-sided deal (in their view). Period.

    These are the Big Boys. You can't expect to be able to change the rules in the middle of the game when you eagerly signed up to play it, even though the rules were apparently not clear to you in the first place... and then cry "unfair!" when you lose miserably. Then run with all you could take for yourself at the expense of all other players? Nope... these guys are the real transgressors, not Apple.

    I have zero sympathy for the insiders. I hope they are taken to legal task. They only saw the billion dollar potential and greedily went for it... consequences to their company, its many employees and shareholders be damned.

    Anyway, that's my opinion for what it's worth...

    Kind regards... P29
    Nov 7, 2014. 05:59 PM | 1 Like Like |Link to Comment
  • The Squiller Declaration: Apple's Onerous Terms Dilineated [View instapost]
    The WSJ reported that it appears as though the selling came from insiders on September 8.. plus more selling long before the bankruptcy announcement.

    The WSJ reported that GTAT CEO Thomas Gutierrez sold shares Sept. 8 at an average price of $17.38, the day before the iPhone 6 announcement. Total sells One Year: $10,563,003 Total Buys: 0 http://bit.ly/11310se

    GT told the Journal that Gutierrez’s stock sale was a pre-arranged plan put in place on March 14, 2014, but the report notes there was no obvious pattern to his sales.

    The WSJ additionally reported that GTAT’s COO Daniel Squiller, the man in charge of the Mesa, AZ sapphire production plant and the one with the most visibility into production problems, sold $1.2 million of stock in May and set up a plan under which he sold another $750,000 of shares months before the company announced its surprise bankruptcy. The Journal reports "Squiller’s unloading of GT stock came after production benchmarks were missed and Apple began withholding payments” Total sells last 6 months: $2,034,907 Buys: 0 http://bit.ly/1130Y3H

    But I suppose it’s okay for the Insiders to grab theirs, jump their sinking ship, screw their employees and rob investors (of which I was one). NOT!!
    Nov 7, 2014. 03:55 PM | 1 Like Like |Link to Comment
  • Why I Bought American Realty Capital Properties [View article]
    You didn't highjack the thread at all, Lakeaffect... you make a very valid point. Pretty curious about this double standard myself.
    Nov 1, 2014. 08:31 AM | 2 Likes Like |Link to Comment
  • Apple Pay launches on Monday; more banks added [View news story]
    Don't know where you got that... it was $101.00 on Sept 10 and stayed in the $99-$102 range thru Oct 10. It only hit the "$96 range" this week, so your theory doesn't fly that the shares have been "stuck" in that range since the 6 launched.
    Oct 16, 2014. 05:38 PM | 3 Likes Like |Link to Comment
  • GT suggests it could sue Apple; sapphire plant to close [View news story]
    I'll bet Tom Gutierrez is thinking aloud: "I got mine...Suckers!"

    Dear Mr. Guitierrez.. Hopefully you will.. when the SEC gets finished with you.
    Oct 10, 2014. 04:39 PM | 8 Likes Like |Link to Comment
  • Apple's Best Interests Re: GT Advanced Technologies [View article]
    Great take on the situation and it makes perfect sense for AAPL to step in. Apple's reputation was unfortunately sullied when the six debuted sans sapphire esp after all the hype and it seems fair to say that Apple was furious at being caught so red-faced... particularly given the rosy outlook from the onset in 2013. Nor will they be satisfied to stand second fiddle while someone else grabs GTAT only to lose out on their heavy investments and IP. That loss would be a colossal embarrassment and I can't see that they'd let that happen.
    Oct 7, 2014. 09:22 AM | 6 Likes Like |Link to Comment
  • Update: GT Advanced Technologies Applies For Chapter 11 Bankruptcy [View article]
    Also see this excellent SA article from 2012:

    Understanding Bankruptcies As An Investor by Paul Santos

    http://seekingalpha.co...
    Oct 6, 2014. 10:29 PM | 3 Likes Like |Link to Comment
  • Update: GT Advanced Technologies Applies For Chapter 11 Bankruptcy [View article]
    @Steve Rasher: "Although not always the case it is quite common that what the company does in its plan or reorganization is cancel the old stock and, because once it is in bankruptcy it is deemed a "new company", it issues stock of the "new company"...

    Right. Case in point: GM
    Oct 6, 2014. 09:44 PM | 3 Likes Like |Link to Comment
  • Deutsche downgrades Apple to Hold, considers good news baked in [View news story]
    @mushrumps

    And Stifel Nicolaus's Aaron Rakers has a Buy rating, with a $110 PT. BMO Capital Markets's Keith Bachman reiterates an Outperform rating, while raising his price target to $110 from $106 after raising his fiscal 2015 iPhone unit estimate to 189 million units from 178.4 million excl China.

    DB analysis seems rather.... half-baked.

    http://bit.ly/1vnD2lm
    Oct 2, 2014. 05:43 PM | 5 Likes Like |Link to Comment
  • This Article Bought Me 2 Shares Of Kinder Morgan [View article]
    Expertly done, Eli! As a DGI'r for decades, you perfectly summed up what I and others like me have experienced: "Good things begin to happen if you can hitch yourself to a profitable business that has a propensity to reward shareholders."

    My hope is that your letter-perfect explanation on dividend reinvestment and compounding will reach younger investors, so that they may have a clear vision of the possibilities that lie before them if they practice patience and discipline. KMI and CVX are superb examples for a great start!

    Long KMI and CVX
    Oct 2, 2014. 09:08 AM | 7 Likes Like |Link to Comment
  • Michael Blair's Incredible Journey - Apple's Blowout Launch [View article]
    I read analyst opinions on my stocks all through the day, whether positive or negative. I ravish them in fact. This is how I learn and make decisions together with my on DD.

    But as an AAPL perma-bear (thanks for that term, Chuck Jones), M Blair's articles are consistently and overwhelmingly biased on AAPL, even in the most obvious of bullish cases.

    I just don't know of any other analyst with such consistent over-the-top negativity on one stock as Blair is on AAPL, and that is why I gave up clicking on his articles.
    Oct 1, 2014. 02:59 PM | 8 Likes Like |Link to Comment
  • Apple's Incredible 10 Million Unit Sales-Fact [View article]
    Thank you for your sharp and clear analysis. Your voice of reason is refreshing.

    I envision M Blair giggling as he sits at his computer writing negative articles on AAPL. He knows he's going to rile investors with his weak analyses and seemingly enjoys the attention. I refused to click on his ridiculous articles months ago.
    Sep 29, 2014. 10:29 AM | 12 Likes Like |Link to Comment
  • Should Apple Investors Be Worried By Recent Developments? [View article]
    So.. no not worried and yes, you're right... it's a Buy
    Sep 26, 2014. 12:35 PM | 6 Likes Like |Link to Comment
  • Should Apple Investors Be Worried By Recent Developments? [View article]
    From AAPL re warping: "Phone 6 and iPhone 6 Plus feature a precision engineered unibody enclosure constructed from machining a custom grade of 6000 series anodized aluminum, which is tempered for extra strength. They also feature stainless steel and titanium inserts to reinforce high stress locations and use the strongest glass in the smartphone industry. We chose these high-quality materials and construction very carefully for their strength and durability. We also perform rigorous tests throughout the entire development cycle including 3-point bending, pressure point cycling, sit, torsion, and user studies. iPhone 6 and iPhone 6 Plus meet or exceed all of our high quality standards to endure everyday, real life use. With normal use a bend in iPhone is extremely rare and through our first six days of sale, a total of nine customers have contacted Apple with a bent iPhone 6 Plus."

    Appears "Bendgate" issue has been addressed to their satisfaction (just 9 customer complaints). Also the update for iOS 8.0.2 is out. Problem fixed in a day. Shares recovering, stock upgraded to $110. Let's move on.

    http://on.barrons.com/...

    http://on.barrons.com/...
    .
    Sep 26, 2014. 12:29 PM | 7 Likes Like |Link to Comment
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