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Technology Stocks : QUANTUM

QNTM 10.70

+20.0%

Dec 22 3:59 PM EST

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To: Rational who wrote (5570)	11/23/1997 11:39:00 AM
From: Dale J.	Read Replies (1) of 9124

Lumbering Giants: Samsung and Hyundai (producers of hard drives) FWIW: There was a report on CNN the other day, that somewhat explained the Korean IMF request. The report said the S. Korean government has for years subsidized, promoted, and interfered in its top conglomerates. A USB analyst said the government control, the instituted motto of "market share at any cost", and the decreeing of which companies succeed have taken its toll on the Korean businesses and economy. - Almost half of the 30 largest S. Korean conglomerates are losing money - The 50 largest conglomerates had a combined profit of just $65 Million - Seven out of the top 30 are on the critical list and ready to fail The big four: Samsung, Hyundai, Daewoo, and LG have an average debt/equity ratio of 350%. That is ten times the the debt of the average large U.S. company. An analyst from Oppenheimer said these are massively leveraged companies that have lost much of their competitive advantage. When asked if the he was optimistic that the IMF loan would help, he replied only if it helps calm the fears of foreign investors that are backing the huge debt. Dale

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