Thanks for the softball question.
Steipp and Bromage sold Li the premise that LQMT had all kind of potential, but that they were unable to produce orders due to the limits of LQMT RSM. Steipp and Bromage convinced him that an investment in LQMT LF facility would be the thing to make a difference.
However, what Steipp and Bromage were covering up was that their whole team put together since 2010 was not a team of professionals with a background in bulk material glasses. The last person employed that had any sense was Kajuch, who retired. All of the new scientists hired under Steipp and Bromage were inexperienced, from totally different disciplines. The business management side of things was soon to be shown to be incompetence and a wild spending spree of Li's money.
If I am wrong, then why is it that business development, for which Bromage was first hired, NEVER MATERIALIZED? Simple. A failure of leadership at the highest level. Steipp and Bromage bull sheeted Li and Li now knows it. Closing down LF was the only wise business decision that Li made, after having been bamboozled by weak, indecisive management.
As for Materion. They knew that all of the major elements, rare earths, etc. that make up LQMT BMG's are sourced from China.
At the OH, Materion saw the writing on the wall...they could never compete against Eontec in making competive raw materials into BMG. Hence, Thunes was spun off to Eutectix with whom he had been working with since months before the Open House.
Engel representatives at the show similarly looked at the LK machines and employees and kneww instataneously, that Li had plans to build his own machines and screw Engel. Why do you think Engel went off on its own to develop its own machines?
For all of those who believe Li is a Genius...I simply refer you to the factory shut down, the 7 cent PPS of his investment, and the current dilemna Li finds himself with as China is beginning to be shut out of every western market and, soon, Asian markets, as well.
Hey, for a shrewd person that he is touted to be, Li is having a lot of difficulty in explaining how he was taken for a ride by Team Steipp. (Just how many people remain of Team Steipp?)
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