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To: Ruffian who wrote (45120)	10/17/1999 10:39:00 PM
From: JohnG	Respond to of 152472

MP Your format SUX. But I note that your time doesn't match the SI time. Is this significant? JohnG

To: Ruffian who wrote (45120)	10/17/1999 10:41:00 PM
From: JohnG	Respond to of 152472

Ruffian. Note that CPI forecast is +0.4 w/ core @ +0.3. Sept CPI and Sept Housing starts to release Monday. JohnG

To: Ruffian who wrote (45120)	10/18/1999 10:21:00 AM
From: Jim Willie CB	Read Replies (3) \| Respond to of 152472

synopsis of Galvin interview in Barrons Tom Galvin is chief equity strategist at Donaldson Lufkin Jenrette... he is also on my Genius List I know you posted article in full somewhere, but I wanted to put a brief sysnopsis what stock market bubble? - average NYSE stock is down 25% from 52wk highs - avg S&P100 stock is down 17% - should limit additional downside - for last year public has been shifting money with abandon into money market - any bubble to point to now is in money funds [fuel for stocks] - NYSE deeply oversold now, comparable to late summer of 1998 - Dow 30 Return on Equity is double what it was in 1980's - justifies higher PEratios - brokerage stocks have take a 60% hit Past bear markets - 1970's fiscal stimulation, rising inflation, oil crisis shock, none here - 1970's commodity markets and tangible assets syphoned money away from financial markets - past recessions saw huge excess inventories worked down, accompanied by layoffs and price cuts, affecting profits - now we have emerged from two years of difficult times in global economy current economic conditions are very strong - our economy undergoes rolling recessions that hit individual sectors in rotation - rather than recession of entire economy - info technology permits companies to carry less inventory and link business plans to orders quickly reasons for inflation to remain subdued - global excess capacity will persist - cap utilization is now 80%, which is lower than in 1994 at 85% - euro currency will stabilize European pricing and improve efficiency - [15-20% of all European GDP used to be related to currency translation] - internet is having deflationary impact on many businesses - consumer revolution is underway with discounters at the center - we are in early stages of a cyclical profit recovery that began in late 1998 and still has 2-3 years to run - little of higher producer costs can be passed on in form of higher consumer prices since competition is intense - expect higher oil and other supply costs to begin to subside and even rollback productivity is likely to continue growing - we import labor intensive products - we export value added products - investment in equipment is a trend to continue - internet allows carrying of less inventory - internet cuts input costs of supplies - y2k investments will pay huge dividend next year in productivity global market will allow market share expansion for winning companies technology has seen proven unit growth - technology is 24% of S&P500, likely to grow to 30% - telecom, dugs, medical product sectors are likely to be leading growth areas expect a "market meltup" beginning toward end of year when y2k fears are behind us - stock market has seen some characteristics of a selling climax - double bottom in progress from Sept29 lows - downside risk of 5% from here - upside potential of 20% by yearend - expect profit gains next year of 12% generally - expect 10-12% profit gains in y2001 - compression of profit margins will be offset by unit growth in the healthy sectors / Jim

To: Ruffian who wrote (45120)	10/18/1999 10:23:00 AM
From: LBstocks	Respond to of 152472

Sprint and Lucent Technologies to Conduct Trial of Next Generation Wireless Technology KANSAS CITY, Mo., Oct. 18 /PRNewswire/ -- Sprint PCS (NYSE: PCS) and Lucent Technologies (NYSE: LU) today announced they will conduct a technology trial of third-generation (3G) Code Division Multiple Access (CDMA) wireless technology in the first half of 2000. This next-generation technology, called 3G1XRTT, is an enhancement to the CDMA format currently used in the Sprint PCS all-digital network, known as cdmaOne(TM). The trial will take place over Lucent's wireless equipment at the Sprint PCS Technology Integration Center in Lenexa, Kan., and will to help accelerate Sprint PCS' commercialization of wireless enhanced voice and high-speed data. The trial is expected to verify the performance of the new 3G 1X Radio Transmission Technology (RTT), which is expected to effectively double the voice capacity and provide peak data transmission rates up to 10 times faster than currently available. 3G1XRTT is based on a recently adopted standard (cdma2000(TM)) for allowing today's CDMA to support more users and improve data performance in line with a global standards proposal under consideration by the International Telecommunications Union, an arm of the United Nations. "Because of the immense benefits in call-carrying capacity and data speeds with 3G1XRTT deployment, Sprint PCS is aggressively pursuing this evolutionary 3G technology," said Oliver Valente, vice president of Technology and Advanced Systems Development for Sprint PCS. "Lucent is helping us accomplish this goal while enabling us to protect our current infrastructure investment." "An important element of this new technology is that it is fully compatible with today's existing cdmaOne infrastructures and handsets," said John Marione, vice president-AMPS/PCS Development for Lucent. "This is key because 3G1XRTT will be a cost-effective way for Sprint PCS to be ready for the next generation of wireless communications since it preserves current investments." Lucent Technologies supplies mobile and fixed wireless communications systems that offer global service providers standards-based solutions for serving the information needs of consumers and enterprises. Headquartered in Murray Hill, N.J., Lucent designs, builds and delivers a wide range of public and private networks, communications systems and software, data networking systems, business telephone systems and microelectronic components. Bell Labs is the research and development arm for the company. For more information on Lucent Technologies, visit the company's web site at lucent.com. Sprint PCS operates the largest 100 percent digital, 100 percent PCS nationwide wireless network in the United States, already serving the majority of the nation's metropolitan areas including more than 4,000 cities and communities across the country. Sprint PCS has licensed PCS coverage of nearly 270 million people in all 50 states, Puerto Rico and the U.S. Virgin Islands. For more information, visit the Sprint PCS web site at sprintpcs.com. Sprint PCS is a wholly-owned tracking group of Sprint Corporation trading on the NYSE under the symbol "PCS." Sprint is a global communications company at the forefront in integrating long distance, local and wireless communications services and one of the world's largest carriers of Internet traffic. Sprint built and operates the United States' only nationwide all-digital, fiber optic network and is a leader in advanced data communications services. Sprint has $17 billion in annual revenues and serves more than 20 million business and residential customers. SOURCE Sprint PCS and Lucent Technologies /CONTACT: Jeff Chaltas of Sprint PCS, 816-559-5398, or pager, 888-363-0558, or email, jchalt01@sprintspectrum.com; or Roger Frizzell of Lucent Technologies, 972-745-4831, or email, rcfrizzell@Lucent.com/