the decision made for big write-offs, but it meant that the company could concentrate on its strong semiconductor and defense-electronics businesses. The day after the announcement, TI stock spurted from $101 to $124. And four months later it was $176. Time also has sold off divisions and dramatically cut costs. It is one of my favorite recent turnarounds. Actually it’s an asset play as well. The cable-TV part of the business is potentially worth $60 a share, so if the stock sells for $100, you’re buying the rest of the company for $40. • Is business coming back? (This is what’s happening at
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