You can sway a thousand men by appealing to their prejudices quicker than you can convince one man by logic.
*BULLETIN* Otter Admn Plans Raid on Idaho Treasury to Prop-up Micron
Submitted by Tom Paine on Tue, 12/18/2007 - 7:41pm.
The Otter Administration is planning a secret meeting tomorrow (12/19) with executives of Micron in an effort to head off a complete business-line breakup and withdrawal of the company from Boise. Sources ‘inside the greenbelt’ reveal as early as last week Otter called into his office Commerce Secretary Jim Ellick after an unusually blunt assessment of Micron’s actual survival prospects from outside (New York) investment bankers. According to these sources who overheard Otter staffers Mark Warbis and others in a downtown bar describing how the shaken Otter was quoted as asking Ellick, an increasingly skeptical former technology executive, ‘what could be done’? Ellick’s incredulous response was something on the order of you can “give them bags of cash”. Tomorrow’s meeting is evidentially an effort to do just that by raiding the Idaho Treasury for even more Micron benefits.
It has become increasingly evident to the Otter Administration that the “don’t worry, be happy” smiley-face, Idaho economic picture presented by former Commerce & Labor Secretary Roger Madsen was a complete sham. Madsen actively sought to paper over serious internal & systemic problems, re: Idaho with a variety of press reports (Forbes, Business Week, INC Magazine, etc) that glossed over real problems. He even directed Commerce & Labor to actively hire reporters from the Idaho Statesman & other media, in an effort to spin the news.
Oh, these chickens are coming home to roost, as Otter faces a rapidly downward spiraling Idaho economy among the diminishing number of better paying employers in the state. Can anyone say, “one-term governor”?
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I hope Otter fairs as well as Appleton, oh thats right
he already married well (a Simplot) and ducked out of the responsibilities to live the high life and now Appleton is looking to do the same after after running Micron (a Simplot funded startup) into the ground
The Micron ship is sinking but Capitan Appleton refuses to go down with the ship in spite of being personally responsible for it's steerage. Like so many CEO's before him (such as Agee and Johnston) he is intent on taking Idaho for all he can.
http://www.idahostatesman.com/hightech/story/182063.html
http://www.43rdstateblues.com/?q=node/904
Questions:
I know I've predicted the downfall of the Boise Micron headquarters for quite some time, due to the issues with 200mm and the profitability of that density. So what I'm wondering is if they are just going to sell off the 200mm portion of the plant (Singapore, Avisano, Boise) or if they are looking at a complete sale to a foreign investor?
Micron: Blood in the Streets
Seems there's some confirmation on Micron this pm. They announced a 34 cent per share loss ($262 million) when the street was expecting between 15-20 cents per share. (not nice to fool Mother Capitalism) This after last quarter where they diluted the number of shares even more since the beginning of 2007. Ken Dey at the Statesman refers to my original entry on his own business blog, which is usually a good one to read. After Micron goes, maybe the Statesman's next (I've been expecting) and the new owners will realize there's a helluva lot of content they've been missing, and fund their reporting better.