Monday , 20 October 2014
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Lessons I Have Learned From Mark Gomes And The GTAT Fallout


As I acknowledged in my apology last week, I was 100% wrong on GTAT–not wrong about what could have happened (we can give Tim Cook at least that much credit), but wrong to predict so confidently what would happen. It’s true that much of the analysis and coverage of GTAT was more or less in line with my own, but ... Read More »

GTAT Files Motion To Shut Down Mesa, Salem And Focus On Its Core Business


In GTAT’s latest motion filed today the company is seeking to shut down its Mesa and Salem sapphire manufacturing facilities and eliminate 890 jobs associated with those operations and support staff. GTAT is citing excessive cash burn for the benefit of Apple is not sustainable. The company is targeting an orderly wind down by December 31st. GTAT cites that it ... Read More »

GTAT Potential Value To Current Shareholders Is Still Murky At Best


Late Thursday evening, GTAT filed an emergency motion to wind down both operations and the employee incentive plan at its sapphire growing facilities. In addition, it is seeking authority to reject certain executory contracts and unexpired leases. In simple terms, GTAT wants to exit the business of manufacturing sapphire. The next court hearing, at which these motions will be reviewed, ... Read More »