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To: TREND1 who wrote (48113)	9/9/1999 10:14:00 AM
From: John Graybill	Respond to of 53903

Wow, that's big news (to me). The big question: does TXN wait for The Scenario to play out before unloading at 87+, or do they take their profit ASAP. Nice of somebody to have CNBC broadcast to the world when TXN can sell, rather than make a couple of us dig and scratch for the info. Lets us get short to the max nice and early. Yeah right! Smells like a bear trap to me. That bounce from 75 1/4 just after the open to 76 3/4 didn't take long, huh. I'd say that assuming The Scenario is in effect through 87+ is still the money-maker.

To: TREND1 who wrote (48113)	9/9/1999 11:44:00 AM
From: Thomas G. Busillo	Read Replies (1) \| Respond to of 53903

Larry, I thought they had registration rights on the 28.9 mil shares of common stock 6 months after the deal closed. According to their ammened 8K the deal closed 9/30/98. I think this was why everyone back in April was trying to figure out what TI was going to do. So, really I think they've been able to sell from the beginning of April on. As far as the roughly 12.3 mil. shares that went with the two 6.5% 2005 converts, I don't think the clock starts ticking on their "scenario" until 10/3/00. The Securities will not be subject to redemption prior to October 3, 2000 and will be redeemable on and after such date at the option of the Company, in whole or in part, upon not less than 20 nor more than 60 days notice to the Holders, at the Redemption Prices (expressed as percen tages of the principal amount) set forth below; provided, however, that the Securities will not redeemable following October 3, 2000 and before October 2, 2002 unless the Closing Price Per Share of the Company's Common Stock is at least 130% of the Conversion Price for at least 20 Trading Days within a period of 30 consecutive Trading Days ending within five Trading Days of the call for redemption. The semi-annual payments are due April 1 and October 1. The first was due 4/1/99. These also give MU and "extension period" option of 4 missed payments. Does TI even still hold the converts? Maybe what CNBC reported was accurate (or partially accurate; I mean, how fun must it have been for TI to watch the thing move from 80 to 34); however, the only significant thing I see happening specifically related to the 10/1/99 date is a $24.05 mil. coupon payment due. Was it Maria B.? Good trading, Tom

To: TREND1 who wrote (48113)	9/9/1999 12:33:00 PM
From: Thomas G. Busillo	Read Replies (1) \| Respond to of 53903

Larry, follow-up on the TXN mention. CNBC 9/9/99 - 8:54:50 AM .....That t is a new analyst, that is why he is initiate ing coverage of the sector. Also in the news, texas instrument being spoken about at salomon smith barney. Raising the target price on texas, the chip companies had quite a run, raise capital spending in the year 2000 significantly, above this year 1 1/3 capital spending number and eligible to sell the 40 million shares of micron stock beginning october first. Expected to sell the share, according to salomon smith barney but no particular timing on price. A target on texas of 100 with you they shifted from 85. As you can see yesterday, the stock closed at 8 7/. tveyes.com [What a great site! Thanks John G.] Question for the Salomon Smith Barney analyst mentioned above: How can TI sell "40 mil." shares of MU, when 12.3 mil. shares are part of a convert package that isn't redeemable until October 2000 at the earliest? Do you understand that TI was eligible to sell the 28.3 mil. back in April? Have you ever looked at an SEC filing? THat's not a 100% rhetorical question, because Mr. Salomon Smith Barney analyst, weren't you the same champ who pumped out a model showing MU's gross margins on "DRAMs (overseas)" as "20%" several days after MU noted in their last 10-Q that margins from their JV's were "essentially breakeven". Or is this another "Jupiter effect"? The gross margins on product out of Avvenzano were so abnormally high that they exactly off-set negligable margins on the JV goods, despite that under this Jupiter Effect scenario, MU's GM's at Avvenzano would seem to have to be higher than its own Boise fabs. And for the sake of argument, if what you say is correct, why are you out there touting a stock that according to you may have 15% of its shares outstanding facing imminent liquidation? I know your a sell-side security analyst and everything, so therefore you don't have to make logical sense and you can just published a much unthinking garbage as you want at will, but this is just to fly to flag for people who like to think that content should have meaning that goes beyond what name is on the stationary. Good trading, Tom