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To: Radim Parchansky who wrote (62091)	6/12/1999 11:19:00 AM
From: Glenn D. Rudolph	Respond to of 164684

To read Street Life on the Web, visit fortuneinvestor.com Street Life Friday, June 11, 1999, 6:00 p.m. Wall Street Sighs at Inflation Report By Andrew Serwer Lackluster-and-lame-Friday-so-let's-have-a-great- weekend-and-start-the-party-right-on-Monday-kind- of-a-feel today. Know what I mean? We got some early econ stuff on Friday, but it did nothing and then everyone just left. No good news, and bad interest-rate vibes. And so the Dow fell 130 to 10490, while Nasdaq dropped 36 to 2448. BORING!! Here's what's going down: BORING (but important!) ECONOMIC NEWS.... Actually anticlimactic is more like. The PPI came in right around where it was supposed to. Crude prices were up, of course. Meanwhile, retail sales were strong. So while Wall Street was expecting some sort of decisiveness from the report, it got none (babe). And so the stock market basically just drifted down on an almost-summer Friday afternoon. Long bond, by the way, rose to 6.14%. NASTY!! (Highest in almost 2 years....) STOCKS.... Bad bonds rule! The usual tech and financial stock carnage on Friday. Gaming stocks did well (go figure -- actually it was MGM Grand news). Big winner was the IPO Phone.com, up $22 to $37!.... CMGI got killed (down $12 to $89!) after posting that big loss last night. Explain to me how this company works again!!.... eBay dropped almost $17 after a bad server crash halted bidding.... How about National Semiconductor? Belched up some bad numeros. Again!! (From the company that brought you Gil Amelio!!) Aren't National and AMD a lot alike? As in, never have their act together? You wonder how good Intel would be if these guys weren't so lame!!.... Hechinger files for Chapter 11. I remember them! Boy did they get killed by Home Depot. DEAD! (Don't confuse with Harbinger, which was on the move up!).... Jessica Reif Cohen (our hero over here at Time Warner!) upgraded Viacom today (booo!! -- just kidding Sumner!).... Philip Morris is back up to $42 on some upgrades (from year low of $33). Stock goes up and down and up and down.... Bank of America up on buyback news.... And VF warned and the stock dropped. (Gee, all they have to do is beat Levi Strauss!! How hard could that be?!?) CHRISTIAN CURRY.... The mess keeps getting worse for Morgan Stanley. Chris Edwards, the firm's head lawyer and an old buddy of Purcell's, resigned. I'm surprised she lasted this long. Once you heard that she reportedly knew about the payment just before it was made, you had to figure it was just a matter of time before she left. One informed source tells me that this is just killing the firm. They are dying to get this stuff out and behind them. Bottom line: Morgan Stanley was waaaaay dumb for paying that Luethke character. As for Mr. Curry, it is my humble opinion that he's no angel. Loose Change An AOL bear?: America Online will see subscriber growth for the fiscal fourth quarter at the low end of its forecasts -- so says Merrill Lynch analyst Henry Blodget. Blodget a bear?!? No?? Stock was down $5 to under $100!! (Amazon down $10 to $106).... Sterigenics up $6 to $25.75! The hell they do??.... Hey Chuck Berger at AdForce, listen I was just giving you grief, dude! Good luck!.... South African stocks are up. Lord knows why, with gold the way it is!!.... MU got hit on Friday.... This from Reuters: "In one of the most bizarre sponsorship deals ever seen, a top Australian Rules footballer has legally changed his name to a brand of pet food to help out his cash- strapped club. Geelong Cats captain Garry Hocking told the Herald Sun newspaper that he had changed his name by deed poll to 'Whiskas,' a popular cat food. The newspaper said that under the terms of the deal, which was said to be worth between A$100,000 (US$66,000) and A$200,000, Whiskas would make a 'generous' donation to the club and a local animal- welfare center. Hocking said he would change his name back after one week. 'It is just a light-hearted thing from a commercial point of view that will help get the club out of strife,' Hocking said. 'I'm probably going to cop a little bit of flak, but I see it as a great thing for the footy club and Whiskas.' " Go Garry!!.... Hey, what would you name yourself if you were a drag queen? T-Smith says the rule is: Take the name of your first pet as your first name, and the street you grew up on as your last name. Works every time!! Me? I'm "Hobart Primrose"!! Works every time!!!.... Going to go see "The Spy Who Boinked Me?".... Got mucho grief from the good people of Indiana. And I do mean good people. I've met plenty of great Hoosiers. But they don't throw crap at visiting teams. (Not that ANYONE has EVER done that at Madison Square Garden, right? RIGHT!) Interesting point one guy makes--that Bobby Knight isn't from Indiana and neither is Dan Q. really, mostly from Arizona! To be quite honest, I'm not sure the Knicks can take one of these games. We'll see on Monday!.... Birthdays? Joe Montana, and Adrienne Barbeau (an older Mom!).... Tunes? May I suggest AC/DC. Old stuff!! When Bon Scott was still alive!! "Dirty Deeds Done Dirt Cheap." "Highway to Hell.".... Congrats to Em on your nursery school graduation!! Talk Back to Street Life.... Why let Serwer, Amy, and Nelman have all the fun?! Post your comments and questions about today's column on our boards, located at fortune.com. ------------------------ SUBSCRIPTION INFORMATION ------------------------ TO SIGN UP FOR STREET LIFE, point your browser to: cgi.pathfinder.com TO SIGN OFF FROM STREET LIFE, point your browser to: cgi.pathfinder.com For detailed sign-up, sign-off information, e-mail fbrdaily@pathfinder.com ***************************************** Special Internet Offer! Sign up for THREE RISK-FREE Issues of FORTUNE Magazine at fortune.com or call our toll-free number: 800-962-3988 *************************************** *************************************** Fortune's Datastore is open for business! fortunedatastore.com Financial and contact information tailored to your company's needs. 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