Thursday, September 11, 2008

Harold Hughes, he can taste vindication?

Disclosure: I have been very disappointed with Rambus Inc. Conference Calls for eons. If you have read Treowth for a few quarters, you know this.

Further Disclosure: I have never been treated for what family and friends feel is delusional behavior - my belief that in the end, Rambus will prove to have been an investment of pure genius.

I am incurable . . . that noted, last evening I listened to the Webcast of Harold Hughes, CEO & President of Rambus Inc. at the Citi Technology Conference, Hilton New York Hotel held on September 4, 2008.

First the negative:
It simply kills me how many times Mr. Hughes clears his throat. Respectfully, I suggest using a microphone with a switch that he can use to turn off the sound - clear his throat - turn on the sound.

Now the good stuff:
1) Mr. Hughes was full of piss and vinegar.
2) Mr. Hughes was cocky.
3) Mr. Hughes was full of piss and vinegar. Oh, I noted that already. Well it is worth mentioning twice.
4) I am convinced that Mr. Hughes will NOT settle for less than 4.25% on US sales of DRAM, in fact, I'd bet 4.25% is the bottom rung for World Wide sales. (Nope, not seeking treatment next week. I am not.)
5) Mr. Hughes is prepared to take the cartel litigation to and through the Gates of Hell if necessary.
6) The law firms are paid up front - no contingency fees. Bonus dough is discretionary with Rambus.

Notable quotes - paraphrases as I remember them:
1) Next February, March is going to be very interesting.
2) I am not passive. Spending $45 million on lawyers a year isn't passive in my book.
3) I am not going to forget laying off 90 employees anytime soon.
4) See the ball. Hit the ball. I believe referring to how the lawyers are paid. I've never heard it expressed in that fashion before.

Listen for yourself here. There is a presentation, which for some reason starts 7-8 minutes into the clock and there is a separate breakout session - Q & A for us regular folks. I had to manually advance the slides during the presentation and they are a bit small.

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