Wednesday, April 4, 2012

Couple says Goldman misused shares to assist short-sellers

This article hits home for me, as a couple colleagues and I literally saved Marvell when they were a small startup.  If my recall is correct, my colleagues at Teradyne, a semiconductor test manufacturer, were Greg Kinoshita, Darryl Gee, and John Glazzy.  At Marvell, the Vice President of Operations was Steve Zadig, and Christine Deutch was performing the tests.  There were many other Marvell employees who contributed, and managed to save the day.

Due to emergency procedures implemented by my team and Marvell over that fateful weekend in the late 1990's, Marvell was able to ship product to fill their first big order despite their production line going down (or more correctly, when a subcontractor's line went down).  By filling that first big order, Marvell was able to achieve a string of successful design-ins and become a multi-billion dollar enterprise, as a leading semiconductor supplier to the storage and communications industries.

I personally dealt with Sehat Sutardja and Weili Dai, who were the CEO and COO, respectively.  I also dealt with the Chief Technology Officer and Sehat's brother,  Pantas Sutardja.  Sehat and Pantas were the co-founders in another silicon valley, straight-from-the-garage success story.  Like many other technology entrepreneurs, they created tons of value.  All it took was an investment banker like Goldman Sachs to almost destroy it.

Here is commentary from Zero Hedge:

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