Freescale is to focus its activities in 2013, CEO Gregg Lowe tells Reuters.
‘Focus’ is the current industry euphemisim for exiting markets where a company is no longer competitive and concentrating on the areas where it can still make a profit.
NXP and STMicroelectronics are other companies where CEOs have…
Watching the private equity companies trying to run semiconductor companies is like watching a Hottentot trying to get a screw out of a bit of wood.
He pulls, he pushes, he bashes it from side to side, he applies more and more levers, but still the screw doesn’t come…
God help Renesas if the asset-strippers get their hands on it.
Word is that American private equity companies KKR and Silverlake, which were part of the consortium which made the ill-fated 2006 takeover did for NXP, are in talks about investing ‘several tens of billions of yen’ in…
You always know why a bad guy goes, but when a good guy gives up a job, you wonder: Why? Has he a better place to go? Have the politics with shareholders/owners got too much? Does he feel he’s completed the job?
So, when Rich Beyer, one of…
Even Republicans are queuing up to slag off private equity in the US.
“Rich people figuring out clever ways to loot a company,” is how Republican Newt Gingrich, former Speaker of the House of Representatives, described the private equity industry.
“Vultures, sitting out there on the tree limb waiting for…
What balance sheets don’t show is potential. In all companies, except very sick ones, there’s the potential for growth. Usually this resides in the brains of a few key employees.
NXP’s Q2 accounts it says it has spent $715 million on sacking people since September 2008.
Of…
Question: Who can destroy $13 billion of industrial value in five years? Answer: A private equity company.
Yesterday’s $4.6 billion valuation of Freescale is in stark contrast to the $17.6 billion valuation put on Freescale when its owners, the private equity company Blackstone, bought it in 2006…
If ever there was a cautionary tale it is the story of Freescale. Private equity firm Blackstone bought Freescale in 2006 for $17.6 billion.
Freescale’s sales that year were $6.36 billion with EBITDA earnings of $1.63 billion.
Last year’s sales were $4.4 billion for…