Somebody wrote: Back in 2005-2008, Seagate made a major investment in solid state memory (SSM). Why was that effort canceled? NRM was developing it. Where would Seagate be now 8 years later if that project went forward?
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Yeah, I remember that.
And how many shares did Luczo buy at $3.00?
It was a BUNCH!
Seagate was in bad shape, the stock went to $3.00, and Luczo repacked Watkins. The board needed to cut expenses, and this project had no chance of paying off in the near term. It actually would have required a major capital outlay to ramp it up for production. Wasn't much of choice back then...