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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 159.42

-1.2%

Jan 16 3:59 PM EST

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To: Maurice Winn who wrote (13328)	8/5/1998 12:24:00 AM
From: limtex	Read Replies (1) of 152472

Dear Maurice, Sorry if I appeared to be demonizing the Japanese far from it I happen to like Japan very much nad part of our business was there and a big part at that and I love going there and I got on like a house on fire with our local management. So far as their regulatory and governmment attitude is concerned though: 1. One of the comments about the new Japanese fiance minister is that " he knows how to "take on the West" or "stand up to the West" or something like it I forget the exact quote. The point is that IMHO they ought to realize that we are their friends and partners and the don't need to take us on or stand up to us as we are all in the same boat. 2. Behavioural sensibilities relate to the fact that a significant number of their banks and other major institutions are bust and they won't put them into bankruptcy. Plain and simple they are history and local traditional practices should just be plain old ignored and these companies liquidated so that new ones can arise just as they do here. 3. Their economy is in grave danger of slipping into depression and if it does it will bite us very hard....much harder than it is already and we are only just waking up to how bad it is now. There are measures they could take NOW and QUICKLY which would make some material impact on that. Not next week or next month or after yet another election.... no more talking and promising what they are going to do.....just fix it and if they can't then ask their good friends ie us and we'll get Mr Rubin to send a team there and show them step by step what to do. See the way I see it is that we don't have years to fix this mess and they are fiddling while the house is on fire and its spreading. In the meantime maybe we should be thinking about helping to build up another economy that whilst it can't replace the Japanese contribution today might be able to get there in ten years. I don't know if its possible but it might be and if the Japanese really can't bring themselves culturally to accept the principal that major banks that are totally insolvent are better of being liquidated then an altenative to the Japanese economy might be our best available solution. Regards, L

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