At the end of the last quarter, the company's book value was $9.4 billion. Even if you leave out intangibles (like patents, which everyone seems to agree is worth something), the value was $5.9 billion. I think the value proposition is easy to see. Heck, current assets minus all liabilities was $3.4 billion which means that they are valuing the patents and buildings at about $1.3 billion (perhaps a bit more if you factor in this quarter's losses). It might be better for shareholders to wind the company down, and pay out the cash as dividends.