FT: IBM considering sale of its semiconductor business

Post #386,260 by Another Scott 2/6/14 9:22:49 PM Reply	FT: IBM considering sale of its semiconductor business http://news.google.c...73343438710754818 IBM has had amazing technology for ages, but has never been a cheap chip producer. It's hard to see how its semiconductor arm could survive without the deep pockets of their server and services business. Spinning it off just to have it die, or selling it for its patents and gutting the rest, would be a tremendous waste. Cheers, Scott.
Post #394,979 by Another Scott 9/24/14 7:22:34 AM Reply	IBM rumored to pay GlobalFoundries to take it. Burlington Free Press: GlobalFoundries is coming to town, and they have about 400 jobs to fill in their multibillion-dollar semiconductor factory in Malta, N.Y. [...] Later in the month, the company announced it had hired three high-level IBM executives for Fab 8, as the Malta plant is known, and in early August, GlobalFoundries held a job fair at the Sheraton Burlington's Conference Center. GlobalFoundries has been rumored to be taking over IBM's semiconductor business, including the plant in Essex Junction. Bloomberg News reported on July 25, citing "people familiar with the process," that IBM rejected as too low an offer from GlobalFoundries to buy IBM's chip business. In addition to the semiconductor plant in Essex Junction, IBM has another more modern chip plant in East Fishkill, N.Y., and a semiconductor packaging facility in Bromont, Quebec. Bloomberg reported on Aug. 4 that IBM had actually offered to pay GlobalFoundries $1 billion to take the semiconductor business off its hands, an offer GlobalFoundries rejected as too low. GlobalFoundries was said to have demanded at least $2 billion to take the business, in order to offset the division's losses. The latest anonymously sourced report on Sept. 17, from tech blogger Daniel Nenni at SemiWiki.com, says IBM and GlobalFoundries have reached a deal that will be officially announced in early October. Nenni reported on "pretty good authority" that IBM will pay GlobalFoundries more than $2 billion to take over its semiconductor business. Here's hoping that GF can make it work. Cheers, Scott.
Post #395,013 by scoenye 9/24/14 9:49:22 PM Reply	Hoping so as well But the Essex Junction plant has been shrinking for as long as I have been coming here. It is a SuperFund site as well. The GF rumor started flying a couple of months ago and the lukewarm response then didn't exactly give anyone a feeling GF had found something it had been looking for for a while.
Post #394,985 by crazy 9/24/14 9:17:05 AM Reply	just another services company Without their chips, they are merely a member of a cutthroat group. I have disliked IBM since the late 80s, but I respected them. No more.
Post #395,001 by a6l6e6x 9/24/14 4:12:13 PM Reply	Yep. I sold my last shares of the stock back in 1992 and never looked back. The stock price was less than a quarter of what it is now, but I don't care. The money was invested in other companies. The corporate management could never navigate the new world. For one thing they couldn't tell the difference between a BS artist and a visionary. Bought a lot of crap companies. They've been paying me a pension since 1995 and it's been flat since that time. If it wasn't for the Feds it would probably have vanished. Alex "There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge." -- Isaac Asimov

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