InterDigital Inc (IDCC)

[redhot]

broken80-As to why it was 'not mentioned months ago', well, er...ahh...I reasoned that management surely was aware of the issue and planned accordingly and appropriately. There was no sign that this was so, as corporate failure to communicate effectively continued apace. My alarm came when HG on the earnings CC said 'by the action taken this morning ...er, announced this morning...' [IDCC moved discussion to Senior Exec levels], I guessed they did not see the danger of accumulated-$100s-of-millions because if hey had, the clear path was A-to-B, straightaway dash to arbitration with minimal lag for agreed [in '99 contract] negotiations periods. This would be evidenced by push to arb at first sign of Nokia hesitation to clearly agree overall excepting minor details...and now it is clear Nokia was recalcitrant from the gitgo. [And the prior 'gitgo' was immediately after 1-1-02 when Nok obviously could have, and did not, reassure IDCC of payment. I guessed wrongly, at that time, IDCC must have felt reassurance but was being secretive. It was always a worry point for me].
AS for Jorma's background, I checked his biography just recently and found to my chagrin, his past is consumed with financial-accounts management in banking/institutions. That threw a different, ominous perspective on IDCC-Nok matters, but too late for me to revise my investment strategy. Specifically, I felt Jorma's 'businessman-banker' past would overwhelm any 'honor' of paying huge, accumulated obligations without a serious fight and being forced to 'honor' such.