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To: Futurist who wrote (4206)	11/12/1999 1:10:00 PM
From: Ray	Read Replies (2) \| Respond to of 8393

Futurist, I don't see any conclusion that can confidently be made from the LM reorganization. But, a hint is in the following quote: "In late September, the Bethesda, Md., company announced a reorganization of business lines, along with plans to shed assets that generate annual sales of about $1.4 billion. Those moves were seen by investors as insufficient. Executives had then signaled that the most dramatic actions under review included cuts in capital expenditures and accelerating the search for outside investors for a new telecommunications subsidiary." Seems to me that the joint work with Ovonyx would (1) require little or no capital outlay, just operating costs; (2) enhance the apparently favored telecommunications subsidiary. Also, I note that the "assets" they are considering shedding are whole divisions, not smaller units like a wafer fabrication lab. I would think this lab would be a necessary part of the TC subsidiary they want to form.