Aceshardware

> Or they are working on a deal [...]

That's a possibility. On the other hand, the filed complaint does
include references to a CC (co-conspirator) as well as CW-1 and
CW-2 (Chiesi witness 1 and 2). If the "AMD executive" were any
such CC or CW, then you'd think that they'd have referred to him
as such.

Who knows.

I really hope they will close the guy behind bars for a long time because there are not many more obvious cases of mismanagement in any fortune 500 company than in AMD during mr. ruizs stunt. Hiring the guy was probably the biggest mistake of Jerry Sanders.

I support think. Ruiz must be jailed.

Courts are generally reluctant to make judgements about the quality of business decisions. That's up to shareholders to decide.

Regarding this insider trading case in particular, I'm surprised at the level of animosity -- unlike the activities that Intel was found guilty of in various court cases around the world, which affect consumers in general (through higher prices and fewer choices at least), the only people even potentially harmed in this particular case are those who bought or sold shares in AMD during the period in question, and in reality the "inside traders" actually lost money for all their attempts to take advantage of the additional information they were privy to (effectively donating at least $270k to other players in the market).

Insider trading is a serious crime and a significant breach of trust, yes, but nevertheless the rhetoric seems stronger than I would have expected based on the facts at hand.

On that note... has anyone found court filings for Rajiv Goel, 51, of Los Altos, the director
of strategic investments at Intel Capital - the investment arm of Intel Corp. - who did get
arrested? I am longing for another fairytale of executive kindergarten and gross mismatch
between highly inflated self-perception and actual incompetence... :-)

Ruiz to step down as GlobalFoundries chairman

http://www.marketwatch.com/story/ruiz-t ... eid=yhoof2

NEW YORK (MarketWatch) -- GlobalFoundries Inc. said Monday that Hector Ruiz, chairman of its board, will take a voluntary leave of absence, effective immediately, before resigning from the company in January. GlobalFoundries said that Ruiz had submitted his resignation in September with an effective date of Jan. 4, 2010. Ruiz will be succeeded by Alan Ross, a current board member who will serve as interim chairman until a permanent replacement has been named.

Go ahead Hans, spin this one into another sign of Ruiz's complete innocence.

No doubt he is hanging on in absence until Jan 4 to allow greater vesting of pension and/or stock options.

This may fall under the "tip of the iceberg" scenario in which while we may publicly only have this one leading court case to hang the media headlines on it may very well have been simply "one of many" that actually occurred. The remainder of insider trading events by these same folks may never see court for lack of evidence or other reasons. We don't really think Al Capone did nothing illicit in his life other than commit tax evasion, do we? And yet that is all he was convicted of.

So I'm not ready to rule out the possibility that insider trading here by these folks only ever resulted in losses, all I can conclude is that for this one particular well-documented instance of it they did in fact appear to lose money...who knows (they do of course) how many other times they got away with it. Criminals tend to continue doing what they do until they get caught, but we can only convict them of the specific crime they were caught committing.

No doubt the possibility that he was only committed for one year
after Global Foundries was established

http://www.globalfoundries.com/news/amd ... e_semicond

must be spin in your eyes.

Get a life Paul.

Or at least team up with Charlie -- you could be the dynamic duo
of GPU company bashers! :)

Nobody yet investigated AMD-ATI deal. I never believe that it was just a stupid business mistake done by Ruiz to pay 5.6b$ for a small firm (60% of the deal was simply the goodwill written down later).

LOL, yeah I am sure an announcement of a leave of absence effective
immediately was part of the plan all along. Bought any bridges in NYC
lately Spammie?



Zzzzzz. AMD's pom-pom shakers are in such a real funk these days they
can't even come up with a decent come back.

And I have no idea why on earth they would not fire the guy unless of course they were kept away from facts how he was running the place. The guy had no idea whatsoever how to run a a company in this business and because he was trying to force his "vision" to his subordinates many talented people left. Dave Orton left for christs sake. Simply put it he was nuts, here's a little insider story for you: when AMD acquired ATI he traveled to markham and upon seeing Ruby(iconic ATI mascot though I hardly suspect anyone reading this forum won't know what is it) he ordered all of the posters with ruby to be thrown away because he didn't LIKE the character(which was saved eventually anyway).

For months and months they were showing the same presentations during townhall meetings, the only thing that would change is that every quarter they would come up with a new "project" that was either scrapped or a complete market failure(CSIP/Torrenza anyone)? I remember attending a sales presentation by AMD OEM sales guy in mid 2008 as a part of the audience(how I ended up there is another story) anyhow I walked up to the guy after and said "with all respect that was a good presentation but I recall seeing 90% of the slides in early 2007 and the only thing that has changed is that now you are showing what you want to do 3 years from now".

That was their problem, no leadership for 2 years and with a blue juggernaut from santa clara executing brilliantly every launch(don"t you dare to mention Itanium and Lrb since I'm talking x86 CPU business here) is shows. When Dirk stepped up he had to collect the pieces which he is doing quite well but it's not like you can close the gap in 18 months in this business, especially with both Intel and Nvidia luring your best people.

Hector may not be out of the woods yet.

http://money.cnn.com/news/newsfeeds/art ... RTUNE5.htm

NEW YORK -(Dow Jones)- Galleon Group, a hedge fund manager at the center of insider trading charges, made large purchases of ATI Technologies Inc. stock and call options before Advanced Micro Devices Inc.'s (AMD) bid for ATI in July 2006, according to regulatory filings.

Galleon Group, which has been winding down its funds following charges of insider trading by founder Raj Rajaratnam, more than doubled its bet on ATI during the second quarter of 2006, according to its required Securities and Exchange Commission filing about its holdings for that quarter. Galleon as a firm owned 8.5 million shares of ATI Technologies, up from 3.3 million on March 31; it also owned call options on 31,266 shares on June 30 of that year, up from call options on 4,350 shares on March 31.

On June 30, ATI was Galleon's largest holding of a single company's equity in terms of market value at $124.5 million, not including the options, according to the filing, made on form 13-F.

On July 24, 2006, when AMD announced it was buying ATI at a 24% premium to its previous trading day's closing price, shares of ATI jumped 19%. During July 2006, ATI's stock gained more than 35%.

Federal authorities haven't cited AMD's buyout of ATI in their insider trading charges against Rajaratnam. Authorities wouldn't comment on whether they have examined any ATI trades.

Wow, what a lucky guess.

I was always sure that Ruiz had interest to pay such unbelievable sum of money for small ATI.