[raino]

Apple Accused of ?Bait and Switch? - WSJ - WSJ

I wonder if Sprint sits in a corner, cheering the little guy on

[xandermac]

They declared bankruptcy because they got greedy and agreed to a deal they could never live up to and in the meantime the owners were selling off stock and are now being investigated by the SEC. I'm not shedding any tears.

Like they said "GT is a sophisticated publicly traded company with its own lawyers".

Maybe not the best lawyers though...


Twitter: xandermac

[xandermac]

Who got greedy? Source? Interested here - first I am hearing of this (don't closely track GT though)

It's my opinion. They took half a billion dollars from Apple, stock climbed, owners started selling off, I am assuming they knew they couldn't live up to the deal and were trying to profit early, then suddenly declare bankruptcy to everyone's surprise. Hence the SEC investigation.

Apple financed the deal for GTAT, all they had to do was deliver! Failure to deliver has consequences. They even admit they saw the potential problems with the deal and STILL agreed to it. Pretty stupid if you ask me.

The entire thing seems shady as hell to me. GT had lawyers that went over the deal, if there was a problem the time was then to sort it out. Now it's a lot of sour grapes and "we didn't have a choice".. BS, they didn't have a gun to their heads. Seems to me they over promised and under delivered while their owners got "shadily" rich.

I'm not saying that Apple are "Right" here, nor am I defending Apple as I do imagine they are pretty ruthless with their suppliers, however, that is their job and they do it well, apparently a lot better than GTAT anyway. What I am saying is that I have no sympathy for GTAT or their owners. I do feel for the employees though because at the end of the day as the owners made themselves rich the employees ultimately paid the price. Hopefully these owners get what they deserve if proved to have broken the law.