Never let stupid business moves go unpunished. :-)

--
"War is the continuation of politics by other means.
It can therefore be said that politics is war without
bloodshed while war is politics with bloodshed."


"John Lewis" wrote in message
...
Here is the text of the latest AMD 8-K filing with the SEC:-

"Item 2.06 Material Impairments

On December 6, 2007, Advanced Micro Devices, Inc. (theCompany)
concluded that the current carrying value of its goodwill which the
Company had recorded as a result of its October 2006 acquisition of
ATI Technologies Inc. was impaired. This conclusion was reached based
on the results of an updated long-term financial outlook for the
businesses of the former ATI Technologies Inc. as part of the
Company's strategic planning cycle conducted annually during the
Company's fourth quarter and based on the preliminary findings of the
Company's annual goodwill impairment testing that commenced in the
beginning of October 2007.

The Company expects that the impairment charge will be material, but
the Company has determined that, as of the time of this filing, it is
unable in good faith to make a determination of an estimate of the
amount or range of amounts of the impairment charge. The Company will
file an amended report on Form 8-K/A under this Item 2.06 promptly and
in any event within 4 business days after it makes a determination of
such an estimate or range of estimates. "

==================================
Finally AMD has publicly admitted its blunder in offering too much for
ATi... The offer for ATi shares was 20% premium over market - a share
price of $20 for a stock that had been hovering in the doldrums
between $12 and $16 for the previous year. The real blunder was buying
them at all on several $biillion borrowed money. It has
catastrophically diverted AMDs attention from its core business. Core
2 had started shipping and garnering rave reviews a month before the
stockholder's meeting to finally ratify the purchase, so AMD could see
the lion's gaping mouth and had the opportunity to back out of the
deal. Seems as if Hector's ego got the better of common-sense.

AMD stock price has slumped to $8.64 this morning. AMD share price
at the time of the ATi acquisition was ~ $25.

Dave Orton must be giggling all the way to the bank.

2008 will be a very interesting make-or-break year for AMD.

John Lewis