Summary:

Oregonian reports that Intel Corp CEO Craig Barrett, got down on his knees in front of more than 6,000 technology managers, and begged forgiveness at the Gartner Group conference. Intel had five projects to be scrapped or delayed; it is sitting on a record inventory that […]

Oregonian reports that Intel Corp CEO Craig Barrett, got down on his knees in front of more than 6,000 technology managers, and begged forgiveness at the Gartner Group conference. Intel had five projects to be scrapped or delayed; it is sitting on a record inventory that reduced third-quarter profit growth to the slowest pace in five quarters. Stock is down 34 percent year to date, and if that is not all, AMD is really kicking their butt. The bad news ain’t over. LCOS chip did not work out really. “Their product road map has some holes,” Sangeeth Peruri at New York-based J & W Seligman, which manages $20 billion told the Oregonian. The big fund dumped its shares in the company because “They will struggle to fend off market share loss to AMD for the next four to six quarters.” Nothing seems to be working! Comm unit, is losing more money than ever and this includes all the Centrino-stuff. The division’s operating loss came in at $251 million in the most-recent quarter up $208 million a year earlier. “We ate crow,” Barrett said and later in an offline interview said managers at Intel, the world’s largest computer-chip maker, had become too relaxed. Not just the managers, but also the CEO! (How about taking responsibility and saying well I resign. It might be symbolic to employees, that even CEO is not about the law!)

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By Om Malik

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