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Ruiz Resigns as Globalfoundries Chairman

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Shiggity

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Chicago, IL
http://dealbook.blogs.nytimes.com/2009/11/02/ruiz-resigns-as-globalfoundries-chairman/

Hector Ruiz, the former chief executive of Advanced Micro Devices, will step down as chairman of the company’s Globalfoundries chip-making spinoff after surfacing as a reported source of information for the Galleon Group insider trading scheme, the company said Monday. He is the highest-profile name to emerge from the Galleon case, which prosecutors say drew in part on information from top-ranked business executives who provided insider information to a ring masterminded by Raj Rajaratnam.

So after nearly running AMD into bankruptcy, he'll probably go to prison. Well done Ruiz, well done.

I hope he gets crusified in court.
 
OP
Shiggity

Shiggity

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Well I mean until they start being really harsh on these inside traders, it's going to keep happening over and over and over.

And I mean really harsh, examples need to be set in stone and burned into people's brains. Apparently Madoff wasn't enough.

The scary thing is, a lot of these guys aren't even that afraid of getting caught.
 
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Dolk

I once overclocked an Intel
Joined
Mar 3, 2008
This makes me very sad. Ruiz was a great CEO for AMD and GlobalFoundries. He lead the way for the ATI merger, and the Split of the foundry and AMD. This than allowed AMD to concentrate on its Phenom II series and Athlon II series, and future CPUs.

Lets hope the new CEO does good.
 

Dapman02

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This makes me very sad. Ruiz was a great CEO for AMD and GlobalFoundries. He lead the way for the ATI merger, and the Split of the foundry and AMD. This than allowed AMD to concentrate on its Phenom II series and Athlon II series, and future CPUs.

Lets hope the new CEO does good.

Ummm....WHAT
Ruiz was a terrible CEO. He took all of the money from R&D and put it into his own greedy pocket
under him the Phenom1 was born, under the new guy the PhenomII was born. He also payed WAY too much for ATi when the merger happened.

All I hope is that they throw him in the slammer for what he did to the once great AMD. I didn't even know he was part of global foundries, I don't even know who would let him even be a part of anything AMD anymore.
 

Bobnova

Senior Member
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May 10, 2009
I'd be more interested in who rested on their laurels during the P4 V athlon war and let the core duo/core2 duo sneak up on them.
 

Dolk

I once overclocked an Intel
Joined
Mar 3, 2008
That was Ruiz that allowed the Core2Duo to win. And yes I was mistaken, it was the new guy that did the Phenom II, and Ruiz did the Phenom I. My boo
 

QuietIce

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Ruiz was a lousy CEO and, like too many of them, thinks he's worth a lot more than he really is. No doubt this was an attempt to get more than he had coming to him.

Well I mean until they start being really harsh on these inside traders, it's going to keep happening over and over and over.

And I mean really harsh, examples need to be set in stone and burned into people's brains. Apparently Madoff wasn't enough.

The scary thing is, a lot of these guys aren't even that afraid of getting caught.
Insider trading and the scam Madoff was running are entirely different things! Mentioning them together is just plain wrong. Insider trading is very bad, yes - but Madoff is an undenied con man and should be locked up for a very long time. That's like comparing a bar-room fight to murder ...
 
OP
Shiggity

Shiggity

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They're both basically stealing money from honest people (investors), I don't really see too much of a difference.

I understand a ponzi scheme is different than insider trading. My point was to punish insider trading much harsher.
 

QuietIce

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They're both basically stealing money from honest people (investors), I don't really see too much of a difference.

I understand a ponzi scheme is different than insider trading. My point was to punish insider trading much harsher.
Shop-lifting v bank robbery the same thing??? Not in my book.

Edit:
But please don't get the impression from that comparison that I think insider trading is a petty thing - it's not ...
 
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Malakai

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Dec 13, 2001
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Fl
Is the name of the new CEO been released or even decided on yet?

AMD is in a pretty good position in the market right now, not great but they have the budget and price/performance sectors in the cpu market locked down pretty well, and they have pretty much every sector from budget to performance to mobile locked down in video cards. We need amd to keep broke folks like myself running super fast pc's :) If intel becomes the only cpu manufacturer, I shudder to think of the old days before AMD was real competition to intel, intels CPUs all cost a fortune back then