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post Chinese Looking to Buy Seagate

August 27th, 2007

Filed under: News, Business, Computers, Technology, Blog — Tom @ 6:05 am

Seagate is a disk drive maker that currently hold 30 percent of the market. And a chinese technology firm is interested in buying it.
Of course, this bears a bit of a concern, as the industry leader in a technology sector tends to possess alot of technology we as a nation dont want the chinese to have. The national security types are up in arms over this.

For quite some time, Seagate has controlled in a sense, the disk drive market. With numbers like 3 billion dollar quarters, its easy to see why. With products like 1TB capacity drives, and encrypted laptop drives, well that solidifies it.
The CEO of Seagate said the company isnt for sale, but  if the paid a high enough price, most investors would sell their stock.  Its folly to believe that there is not foreign companies that manufacture better products than our domestic ones. Thats what drives competition and makes us strive to be better.

the loss of jobs is the biggest threat here, in my opinion

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