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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Hank Stamper who wrote (9365)	4/22/2000 10:22:00 AM
From: Lee	Read Replies (2) \| Respond to of 24042

Hello David,..Re:., rising compensation costs 'cause' employers have to pay more to hire/retain which 'causes'lower corporate profits and higher inflation. These aren't exactly evident yet. If you will observe on the graphs shown in the link below, Q497 and Q398 showed significantly higher compensation per hour costs. These graphs are up to date as of April 20, 2000. ECI for Q100 will be out April 27. The most notable item in the ECI graph shown is that benefits are accelerating more than actual compensation. stls.frb.org In this second graph, you will notice that output/hr or productivity is on a nice rate of rise while actual employment costs have decreased. Surely we can't dismiss a strong connection here? I think the more telling item on actual increasing prices will be from the NAPM and regional Fed reports both of which measure "prices received" as well as prices paid. This will tell us whether actual increased prices are successfully being passed on to end users. We already know the services industry is able to get increased pricing. stls.frb.org In actuality, I can't see how anyone can make any conclusions about how current economic conditions will evolve in the next six months as with any dynamic system, there are too many variables to consider. Also, given that the current economy is more information oriented rather than smokestack oriented, (look at GDP contributions to confirm), who can say how these criteria affect slowdowns now? Just some more things to consider. <g> Lee

To: Hank Stamper who wrote (9365)	4/22/2000 11:08:00 AM
From: sam	Read Replies (1) \| Respond to of 24042

Productivity is increasing, and, at least on the face of it, appears ready to experience even more growth over the next few years. The advances in B2B software and procurement systems at first seemed aimed at creating another layer of cost to an already bloated system. But it is now apparent that the huge revenue benefits will not come to the B2B software companys themselves, but rather to the the old-line companies linked in the newfound exchanges. Costs will drop significantly. Middlemen will be lost over time saving even more cost. This may be why we have seen a surge of buying in "old-line" companies recently -- as it has become apparent that they would be the greatest beneficiaries of the immanent improvements. IMHO, it wasn't only Microsoft's woes that brought this most recent decline in the NASDAQ, it was the heated "land grab" competition bewteen ORCL, ARBA and CMRC and the ability of the "old-line" companies to take advantage of that competition. FWIW, I see a continued tug of war between productivity gains and wage pressure in the near term. The bear to end all bears will come once the productivity gains cannot keep up. And it'll take everything down with it. We are not there yet. Not even close. BWDIK

To: Hank Stamper who wrote (9365)	4/22/2000 12:47:00 PM
From: Kent Rattey	Respond to of 24042

David, (Recent strong increases in productivity have not outstripped rising compensation costs.) I believe the recent wave of earnings results have begged to differ with that statement. Kent

To: Hank Stamper who wrote (9365)	4/24/2000 2:15:00 AM
From: Mick Mørmøny	Respond to of 24042

Doc: If you know your patients, you should know the CEO of the company you are invested in too. The following is from the 5/00 edition of Worth Online. worth.com 41 Kevin N. Kalkhoven JDS Uniphase 3-year return: 5615.5% Age: 55 CEO since: 1992 Smart acquisitions have been the key to Kevin Kalkhoven's turning what he calls "a sleepy little gas laser company" into what analysts have called "the hottest stock on the Nasdaq." Kalkhoven joins our list after consistently pursuing the technology he thought would bolster JDS Uniphase's core business, which is to manufacture a wide range of products that go into the advanced fiber-optic systems assembled by other manufacturers. Ever since Kalkhoven first gambled $8 million--virtually all of the company's IPO proceeds--on new fiber-optic technology, his bets have paid off handsomely. BUSINESS PHILOSOPHY: "A CEO serves three constituencies: staff, customers, and shareholders," says Kalkhoven, "and you have to serve all three well." HEADACHE: The manufacturing of fiber-optic equipment is difficult and has resisted automation, while demand is growing faster than the industry's ability to produce. TRUE STORY: Boston Chicken was the hot IPO while Kalkhoven was trying to raise capital, and few investors would hear him out. One day, following a presentation by Boston Chicken, he ad-libbed a farcical speech about the advantages of laser-seared chicken. He got his IPO. PERSONAL STRENGTHS: Having extraordinary vision of where the market is going, and being the savvy deal-maker needed to get there. Weak Spots: Vision for industry exceeds financial savvy. Frequently quoted saying, "I don't know a lot about Wall Street." HOW HE GOT THE JOB: Likes personal contact and having fun with employees and customers and travels constantly. "My butt looks like an airplane seat." HOW HE GOT THE JOB: Tired of computers, became interested in lasers, took the helm of a then-small company, Uniphase. PASSIONS: Scuba diving, skiing, piloting his personal jet. CORPORATE GOAL: "To be the technology enabler and provider for the bandwidth revolution." PERSONAL GOAL: To ski all the Olympic downhill race courses. FINANCIAL REWARDS: Has exercisable options worth $152 million. --L.O.