AMD (AMD): No One Is Buying What CEO Hector Ruiz Is Selling

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By Douglas A. McIntyre Published
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"Let’s get on down to the main attraction, With a little less talk and a lot more action."–Elvis

AMD (AMD) CEO Hector Ruiz makes a few promises a year and keep none of them. Most are about sales and profits. According to MarketWatch today "he reaffirmed his team’s vow to make AMD operationally profitable by the second half of 2008"

The was not the worst of  it. Ruiz has been hinting for months that he will get out of some of the company’s manufacturing businesses, out-sourcing them to save money. There have even been rumors that he will sell of spin-off the company’s graphics chip business, the one AMD paid $5 billion for.

The company’s shares are trading down slightly today. They are still near their 52-week low. That is not likely to change. The company’s forecast for the current quarter is awful.

One more day of promises from Ruiz and another day with nothing delivered.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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