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To: phbolton who wrote (46492)	6/21/1999 2:49:00 PM
From: Carl R.	Read Replies (2) \| Respond to of 53903

And what does "committed to RDRAM" mean? Spending on production equipment for .18µ would be spending on RDRAM, right? MU has a lot of flexibility on how to spend that Intel money, so long as they do produce RDRAM as per their agreement, and they have already delivered samples. Carl

To: phbolton who wrote (46492)	6/21/1999 2:57:00 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 53903

>>MU's "net liquid assets" are probably about $400-500 mil, as estimated using Zacks or a similar approach, at this time and that includes their share in MUEI.<< $500 mil - $350 mil (muei) + $500 mil rdram = $650 mil, correct? if so, that won't last 4 years. maybe 1.5 years. 2 years if the $350 mil of muei money wasn't included in your $500 mil number. w/ capexes near ALL TIME HIGHS, this down turn could easily last another 1.5 to 2 years. things will get hairy when the interest is defaulted on and people realize that the principle probably won't get paid in full - if at all.