[ Thanks to Steven J.
Vaughan-Nichols for this link. ]
“Of course, in deals like this, there’s many a slip
between the cup and the lip. Still, I, for one, am sure that the
deal will go through. While Sun CEO Jonathan Schwartz recently
pointed out Sun’s strong points–“over $3 billion in cash, and a
nearly two decade history of generating positive cash flow. We’ve
also got a set of technologies and people that continue to play an
ever more vital role in the economy.”–he didn’t really address
Sun’s serious problems.“What Schwartz didn’t mention was that Sun had laid off from 15%
to 18% of its employees in November 2008, that’s between 5,000 and
6,000 employees, after a quarter which saw a $1.68 billion
quarterly loss. Even before the economy started its nose-dive, Sun
had been bleeding red-ink for several quarters.”
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