Broadcom sale.

paperboyNC said:
Wonder if it will affect building the new HQ at the Great Park?

Not sure if it will.. they've been talking about acquisition for some time now.. would have to think Broadcom might have stalled on the project just in case.
 
kahunasteve said:
"$750 million of projected annual cost synergies expected to be achieved within 18 months"

irvine real estate effect?

Or Baker ranch real estate effect?  :)
 
The Rumor mill is running wild. Couple of Senior Engineers working at broadcom have heard they will likely shutdown HQ in Irvine. Too expensive. Not drawing alot of young talent due to high cost of living.  I think this is gonna impact BP home sales. Which may have a ripple effect.
 
"Amid much fanfare, the company had broken ground in March on a 73-acre campus near Irvine?s Great Park, intended to accommodate up to 8,000 workers. That $738 million project will go forward, a company spokeswoman said, though she did not elaborate on whether it would be as large as originally planned."

www.ocregister.com/articles/broadcom-663513-company-avago.html

Shutting down Irvine HQ is just common sense.  Same thing is happening with Allergan.
 
OC troll said:
The Rumor mill is running wild. Couple of Senior Engineers working at broadcom have heard they will likely shutdown HQ in Irvine. Too expensive. Not drawing alot of young talent due to high cost of living.  I think this is gonna impact BP home sales. Which may have a ripple effect.

I don't think high cost of living is really a big deterrent to drawing talents especially younger ones (Silicon valley as comparison).. The more likely reason that Irvine employees should be afraid of is Avago is HQ in Singapore... very low corporate tax rate and abundance of tech talents at much lower cost.
 
GH said:
OC troll said:
The Rumor mill is running wild. Couple of Senior Engineers working at broadcom have heard they will likely shutdown HQ in Irvine. Too expensive. Not drawing alot of young talent due to high cost of living.  I think this is gonna impact BP home sales. Which may have a ripple effect.

I don't think high cost of living is really a big deterrent to drawing talents especially younger ones (Silicon valley as comparison).. The more likely reason that Irvine employees should be afraid of is Avago is HQ in Singapore... very low corporate tax rate and abundance of tech talents at much lower cost.

will be interested to see what happens. 
 
GH said:
OC troll said:
The Rumor mill is running wild. Couple of Senior Engineers working at broadcom have heard they will likely shutdown HQ in Irvine. Too expensive. Not drawing alot of young talent due to high cost of living.  I think this is gonna impact BP home sales. Which may have a ripple effect.

I don't think high cost of living is really a big deterrent to drawing talents especially younger ones (Silicon valley as comparison).. The more likely reason that Irvine employees should be afraid of is Avago is HQ in Singapore... very low corporate tax rate and abundance of tech talents at much lower cost.

Yeah...I don't think cost of living is the concern considering most engineering jobs are high paying. 

I hope it will stay...I have some friends who work at Broadcom. 
 
WTTCHMN said:
"Amid much fanfare, the company had broken ground in March on a 73-acre campus near Irvine?s Great Park, intended to accommodate up to 8,000 workers. That $738 million project will go forward, a company spokeswoman said, though she did not elaborate on whether it would be as large as originally planned."

www.ocregister.com/articles/broadcom-663513-company-avago.html

Shutting down Irvine HQ is just common sense.  Same thing is happening with Allergan.

Really annoyed at stuff like this:

?This transaction benefits all of Broadcom?s key stakeholders,? said Scott McGregor, president and chief executive of Broadcom. ?Our customers will gain access to a greater breadth of technology and product capability. For our shareholders, the transaction provides both compelling up-front value as well as the opportunity to participate in the future upside of the combined business.?

McGregor, 59, would leave the company. He would be eligible for a golden parachute of more than $67 million, according to the company?s latest proxy statement.

Meanwhile...a bunch of employees will get the ax.
 
Irvinecommuter said:
Really annoyed at stuff like this:

?This transaction benefits all of Broadcom?s key stakeholders,? said Scott McGregor, president and chief executive of Broadcom. ?Our customers will gain access to a greater breadth of technology and product capability. For our shareholders, the transaction provides both compelling up-front value as well as the opportunity to participate in the future upside of the combined business.?

McGregor, 59, would leave the company. He would be eligible for a golden parachute of more than $67 million, according to the company?s latest proxy statement.

Apparently the employees are not key stakeholders? Actually I bet long-time employees that have options benefit greatly from the sale. I have friends that worked for another SoCal company that sold and even though one doesn't work there anymore because the new company shut down the SoCal office, she still made out like a bandit from her options and her new job is even better.
 
paperboyNC said:
Irvinecommuter said:
Really annoyed at stuff like this:

?This transaction benefits all of Broadcom?s key stakeholders,? said Scott McGregor, president and chief executive of Broadcom. ?Our customers will gain access to a greater breadth of technology and product capability. For our shareholders, the transaction provides both compelling up-front value as well as the opportunity to participate in the future upside of the combined business.?

McGregor, 59, would leave the company. He would be eligible for a golden parachute of more than $67 million, according to the company?s latest proxy statement.

Apparently the employees are not key stakeholders? Actually I bet long-time employees that have options benefit greatly from the sale. I have friends that worked for another SoCal company that sold and even though one doesn't work there anymore because the new company shut down the SoCal office, she still made out like a bandit from her options and her new job is even better.

Not everybody gets stock options. I can guess the mail guy, ap clerk, office admin, etc. weren't awarded stock options. (I can be wrong)
 
paperboyNC said:
Irvinecommuter said:
Really annoyed at stuff like this:

?This transaction benefits all of Broadcom?s key stakeholders,? said Scott McGregor, president and chief executive of Broadcom. ?Our customers will gain access to a greater breadth of technology and product capability. For our shareholders, the transaction provides both compelling up-front value as well as the opportunity to participate in the future upside of the combined business.?

McGregor, 59, would leave the company. He would be eligible for a golden parachute of more than $67 million, according to the company?s latest proxy statement.

Apparently the employees are not key stakeholders? Actually I bet long-time employees that have options benefit greatly from the sale. I have friends that worked for another SoCal company that sold and even though one doesn't work there anymore because the new company shut down the SoCal office, she still made out like a bandit from her options and her new job is even better.

Glad to hear but I think the era of employee stock options are long gone...especially for a large company like Broadcom.  I am annoyed that there is no loyalty to either the employees or the area that you based your company.  I know it doesn't show up on the K-1 reports but it's something that I wish more companies would realize.
 
I wonder how much the Broadcom HQ move has already been priced into GP and BR. I'm guessing not much, but you never know. At least there is 200 Spectrum - should be a boost to the Spectrum-close neighborhoods once it's fully leased.
 
OC troll said:
The Rumor mill is running wild. Couple of Senior Engineers working at broadcom have heard they will likely shutdown HQ in Irvine.
I thought that was always the plan, even before the sale.

That's why they were building in the Great Park. Wouldn't make sense to keep the UCI campus.

When they moved to the UCI campus, they closed down their Spectrum offices (now occupied by Blizzard).
 
GH said:
OC troll said:
The Rumor mill is running wild. Couple of Senior Engineers working at broadcom have heard they will likely shutdown HQ in Irvine. Too expensive. Not drawing alot of young talent due to high cost of living.  I think this is gonna impact BP home sales. Which may have a ripple effect.

I don't think high cost of living is really a big deterrent to drawing talents especially younger ones (Silicon valley as comparison).. The more likely reason that Irvine employees should be afraid of is Avago is HQ in Singapore... very low corporate tax rate and abundance of tech talents at much lower cost.
Except low corporate tax, Singapore is really expensive for young talents and companies.
 
ukuoy said:
GH said:
OC troll said:
The Rumor mill is running wild. Couple of Senior Engineers working at broadcom have heard they will likely shutdown HQ in Irvine. Too expensive. Not drawing alot of young talent due to high cost of living.  I think this is gonna impact BP home sales. Which may have a ripple effect.

I don't think high cost of living is really a big deterrent to drawing talents especially younger ones (Silicon valley as comparison).. The more likely reason that Irvine employees should be afraid of is Avago is HQ in Singapore... very low corporate tax rate and abundance of tech talents at much lower cost.
Except low corporate tax, Singapore is really expensive for young talents and companies.

True, but Singapore have very lax working visa requirement for foreigners (compared to the US), thus have a large pool of potential talents from neighboring Asian country at much cheaper salary expectations (these workers won't really mind the high cost of living as it would still be better overall for them than working in their home country). So the company can pay lower wages and lower taxes for the same work function ...
 
Guess they'll reorg whatever holdings they have into the gp building.  Broadcom and emulex that survives the reorg will work there
 
Back
Top