> assets from IBM, which GloFo "acquired" in 2014 (for -1.5 billion at the time)
You used the term "acquired" along with a minus sign in front of 1.5 billion but just in case other people don't get the joke, IBM gave their fabs to Global Foundries and PAID them $1.5 billion to take them.
That is incredible. Why did GloFo think they could just take the 1.5B and not deliver? I guess if they don't have to pay too much damages it's a huge free loan...
Because example has shown time and again that you can take the $1500 million, spend $100 million on legal fees, settle for $400 million and keep a nice $billion
Yep. I'm glad others are aware of this. There were certain manufacturing processes that needed to be sustained for "national security" reasons. GF was an imperfect solution but it was better than the alternatives at the time.
You used the term "acquired" along with a minus sign in front of 1.5 billion but just in case other people don't get the joke, IBM gave their fabs to Global Foundries and PAID them $1.5 billion to take them.