- Wednesday, 10 February 2010
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We've got a number of tools in our armoury [Not weapons? Ed.] - UK government minister
Memory maker files for insolvency
GERMAN DRAM MAKER Qimonda has filed an application with the local court in Munich today to open insolvency proceedings with a view to putting in place an ongoing restructuring programme. The court will now appoint a preliminary insolvency administrator.
The company says its woes began when the bottom fell out of the memory market. A number of rescue plans, including one with parent company Infineon, could not be completed before the axe fell.
Qimonda is blaming "delays in negotiations" which would have allowed the company to improve its production efficiency, but it's more likely that potential investors saw the coming storm in the market and got cold feet.
It will be down to the court-appointed insolvency administrator to decide whether the company is still a viable concern, but Qimonda's bosses are keeping their fingers crossed.
"We assume we will be able to continue our business within the context of our restructuring program with the support of the temporary insolvency administrator and our employees," said a spokesman. "We are especially counting on the excellent relationships with our customers and suppliers, with whom we have made significant progress in developing our Buried Wordline technology during the last months."
Qimonda tried to reposition itself in the market and cut costs back in October, but it would seem that the effort might have been too little too late. µ
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The Portugal Government is trying hard to help save Qimonda presence in Portugal.. Maybe there is still some hope.. at least for the portuguese division :)
I am a relatively new investor. Some would label me as a novice. But I found out today that QI(Qimonda) is filing for bankruptcy in Germany. Now I am in the USA and I purchased some 2000 shares of this company AG shares is what they are called. Does this mean I have lost all my shares of QI? Or just the market value, and if they make a return to public trading will then I be able to buy or sell QI stock? Someone with some insight in trading please reply back. Thanks
Rafael N.
USA
You should have bought gold with your money...
:-(
Are you nuts? Shares are so risky right now, the markets are unstable, almost as unstable as the banks.
Bank shares fell -300% to -800% over the past 2 years in the UK. You are better off putting your money under the mattress, or some developable land on the edge of a growing town/city.
You could always stick it all on Wild Thing running in the 2:40pm at Aintree.
Yeah, you should have put your shares into the laxative market. At least when the bottom falls out of that, itNO CARRIER
If bank shares fell "-300%" they would actually be rising. And if they "fell 300%" they would have a _negative_ value.
To all that have commented on my recent comment thanks. It really cheered me up with the laxative jokes. LOL! I actually purchased ADR or the equivalent of shares in Germany for the american investor. I really believed that when portugal and the german government bailed them out with some 700million plus dollars that they would be able to stay afloat. Well its okay, you win some and you lose some. I actually found out through some more research that if the Company does not become publicly traded in a year I will receive with interest re-imbursement for my stake in the company. But seeing as they are reorganizing and not out of business the likely hood of them coming back in the short term is highly likely.
Rafael N
USA
that could make ram prices go up
maybe were going back to to pcs
with 256MB of ram eeek lol
nah people arent buying ram
anywhow so it wont rise much