First, I would like to say the highlight of my attendance at my second agm were the people I met. It was great to put faces to the people that here such as Fairchild, ogee, rob, maple syrup, jerry, and unrie. and many others. Hope to see all of you in Vegas in the not to distance future. I will try to avoid covering areas that have already been covered. However, I have been traveling and have not keep up with everything on the board so if I shoul d be repitive please forgive. Before going to the the agm I tried to develop a game plan for what I wanted to achieve. I approached the agm the same way I approach a poker game. Many years ago someone much wiser than me told me when playing poker. ".... That one should not concern one self as much with the cards that your opponent plays but with the person playing the cards...." With this in mind I undertook to find out everything I could about am( Ajit monocha). The second thing that I wanted to try an determine what should be the reasonable price poet should have now and in the future. I will leave this discussion for a later post.. Thus before attending the agm I sought to find out everything about am beyond just his cv.. The reason for this effort is that,in my opinion , am is the one who is going to be playing poet's cards going forward. One of the first thing I found out about am was that before being chosen to be the CEO of gf( global foundries) he had no plans to be the CEO of one of the fastest growing foundries in the world.. After quite an eventful career in which he held several important posts in the semiconductor industry around the world. In 2010 he had decided to slow down and spend more time with his family.. In 2010 gf started having trouble with one of their dabs causing a lot of problems with customers. Since am had extensive experience in running fans in Europe . On accout of his leadership days with PhillipSemicondctor, the ATC CEO asked a take charge until gf could find a permanent CEO. It shoul b noted that gf is owne by to government of Dubai. At the time am stated stated ".... That his arms were twisted into taking an interim role in gf until the could find a permanent emplacement." However, after three months, the ATC board decided that there was was no need to search and that am should b the permanent CEO.. After becoming permanent CEO he replaced 25 of the top 40 people in the company were replaced. Am can make hard decisions. When appointed CEO am stated " ....We want to create history...." When am left gf he had done just that and when am left gf it was the second largest foundry in the world. In January 2014 am resigned as CEO fro gf. He returned to the role with gf before becoming CEO by agreeing to return to an advisor to shareholders to enhance stock holder value. We now have am leading poet. After seeing and talking to am at the agm I do not think the market has absorbed what his statute and experience will bring to poet. So why would someone like am be attracted to poet since he has publicly stated he wants to spend more time with his family.. Reading about am's past and future and hearing his answers to questions at the agm, I think I have figured out why he sees devoting the tin Me and effort that will be expected from him with poet. In early 2000's storm clouds came over the fab market because of conflicting market and technology pressures were forcing change in the fab and semiconductor industry. These market and technology pressures which included rising competition, increasing emphasis on costs, and daunting challenges presentd by wafer sizes, transistors and material. All thes factors led to an erosion of trus between foundries and their customers and opened the door for some to speculate that the foundry model might be dead. To solve these problems am called for "foundry2" which calls for a new relationship that molds the seamless collaboration of an IDM with the flexibility of the fabless foundry model. Am far saw that the collaborative devise manufacturing approach must be substituted to collaborate seamlessly, allowing the fabless company to innovate on the foundry platform. As a extension of its own strangely starting early in a new process makes this approach revolutionary.. Am deeply understands these issues... So that is no surprise that am would b the first foundry CEO to address these issues, spelling out a new model,Foundry 2.0" So with this backdrop I approached to tthe agm was trying to understand how Poe and am's background fit together. At the agm am described in simple form that semiconductor companies in development of a chip could spend a billion dollars to r&d trying to determine if the chip would do what the designers wanted it to do. Am said by incorporating the poet platform into the fab process the billion dollar expense could be avoided. With poet designers can test their chips at the fab platform. Once satisfied with the design the foundry can begin the manufacturing process. I think that gf is the foundry that is currently testing poet. If tests are positive we are truly b dealing with a disruptive technology. I am satisfied with am to play poets cards. I think am is uniquely qualified to play poet cards. Am has been quoted many times that he may lose battles occasionally but never the war. The only question that bothers me somewhat is am is still kicking the tires of the poet technology to see if it can truly do all that is advertised. This is the only caveat I have to my analysis. I invite discussion here to see if my theory has legs. Can one imagine the costs semiconductor industry could save with poet?? $$$$$$$$$$$