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Pastimes : The New Qualcomm - write what you like thread. -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (1619)	4/15/2000 5:13:00 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 12233

<China Unicom Ltd plans a total of 100 billion yuan (US$12.1 billion) in capital expenditures through 2002, funded partly through a US$4-5 billion initial public offering in June, a merchant banking source said on Friday. The IPO and spending plan should build Unicom's war chest to compete with mainland telecommunications goliath China Telecom, the source told Reuters. "The company has earmarked 43.8 billion yuan or US$5 billion for its capital expenditure this year, and from 2000 to the end of 2002 it will spend a total of 100 billion yuan," he said.> totaltele.com

To: Maurice Winn who wrote (1619)	4/16/2000 5:03:00 PM
From: A.J. Mullen	Read Replies (2) \| Respond to of 12233

Maurice You're blaming the US legal system's attempt to restrict a companies' use of its monopolistic position for the market sell-off. A short time ago others were blaming a president and a primeminister for suggesting the courts should not grant monopolies for intellectual property bought and paid for by the public. The sell-off has much more to do with the multitude of "investors" who bid up the prices of stocks indiscriminantly. Gradually individuals realised things ahd gone too far, many of those stayed in the market on the greater fool theory. That theory held - for a while. When many are in the market on this basis, the market is unstable. A large number of participants owned stocks they believed were fundamentally overvalued, but were prepared to hold them, thinking they would sell out at the first sign of a loss of confidence. But they didn't recognise the recent volatility for those first signs. They did on Thursday and Friday. Now, the baby is being thrown out with the bathwater in some cases at least. Regards.