Intel Corp (INTC)

[Windsock]

Most, if not all, of the Agreements concerning AMD, AMD Saxony and the German authorities -- the banks and the government -- have been filed with the SEC. Some of the details have been redacted but the nature of the relationship is clear.

AMD basically leases the fabs from the German authorities. If AMD goes BK then the Germans get rights to the designs and can run the semiconductor business. That leaves AMD with no fabs rto manufacture microprocessors and no microprocessor business. It is a good thing that AMD bought ATI so it can reorganize in BK into a second rate GPU company.

German law makes it hard to discharge employeees and if unemployed the company still has to pay about 90% of the wages. The whole deal was about jobs in a depressed area of former East Germany as far as the German government was concerned.