Do you really think they didn't know they would get fined? I believe they made $150mil from the sales (enough to keep the dividend going) and the fine is $300mil....but they get to pay that over 5 years, allowing them to still keep the dividend going. This was calculated.
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It's like when certain political groups are asked to apologize for misdeeds when they get caught red-handed: "Yeah, we did it - and we'd do it again. It was worth it."
Explains the "no time for the annual survey", doesn't it? 'how much do you trust management.....'
So what is the final math Mr.Einstein
The GM on these drives is just one aspect of the deal. The more HDDs you sell the better your factory utilization is. For the person pushing his failed math just stop.
Quote from Reuters
“ April 19 Reuters) - Seagate Technology Holdings PLC (STX.O) has agreed to pay a $300 million penalty in a settlement with U.S. authorities for shipping over $1.1 billion worth of hard disk drives to China's Huawei in violation of U.S. export control laws, the Department of Commerce said on Wednesday.”
- 1 Billion worth no one cares how much profit is made..it is about sales . Try to read around..and be smart and not a d-mb
Where do you get $1B in revenue from? It was reported as $150M in profit. ($20 per drive). They basically have to pay $300M in fines… math much?
The question is how many and how much executive bonus was paid due to a goal reached that would have been missed without the revenue? More free shares for the top positions?
When they ask why I failed next ethics training: one vision mission first
300m fine for business of over 1billion..wonderful deal
I think they made money on the deal even after the fine. US government went soft here.
$1B revenue, $300M fine. Seems like a no brainer to do the sale.