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Technology Stocks : Intel Corporation (INTC)

INTC 34.32

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Nov 18 3:59 PM EST

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To: Paul Engel who wrote (58751)	6/25/1998 10:15:00 AM
From: Barry Grossman	Read Replies (1) of 186894

Paul, That was one great letter. I wish Mr. Jenkins was a thread participant. He has a way with words and clear thinking. I am particularly fond of: "the actions of a silly agency looking for reasons to meddle if it could get away with it." "The usual commentators stroke their chins thoughtfully and approvingly." "The agency itself acknowledges that Intel's behavior would be perfectly rational and responsible if undertaken by any other company. It crosses an imaginary line only if the FTC can make the imaginary label "monopolist" stick. The agency must pray that the ever-pliable theories of antitrust can perform this trick, depending on the mood of the judge. But if the FTC wins, the world will not be a safer place for the "innovation" it claims to be protecting." "Mr. Grove realized that his real competition wasn't Japan or any other chipmaker, but a daunting cost curve. A new chip plant costs $5 billion. The only way to recoup that investment is to get the whole hardware and software industry pulling together to create new machines that a large enough public wants to buy." Thanks for pointing it out. Barry

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