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Technology Stocks : Cisco -- Ignore unavailable to you. Want to Upgrade?

To: JRH who wrote (187)	8/29/2000 9:12:23 AM
From: JRH	Read Replies (1) \| Respond to of 405

More high end routers sold.... Cisco Systems Selected by Telstra for Major US Internet Expansion Telstra Upgrades Internet Infrastructure With Cisco 12000 Routers SYDNEY, Australia--(BUSINESS WIRE)--Aug. 29, 2000--Australia's largest telecommunications carrier, Telstra Corporation, has substantially increased the capacity of its Internet Protocol (IP) network in the United States in an agreement with Cisco Systems, the worldwide leader in networking for the Internet. Telstra's move comes ahead of the Sydney 2000 Olympic Games and an anticipated explosion in demand for IP capacity following the rollout of broadband Internet systems throughout the Asia Pacific region. Telstra plans to double its existing Internet capacity between Australia and the USA to 1.4 gigabits per second (Gbps) before the games. Organizers are expecting the primary Olympics.com Web site to alone receive up to 3 billion hits during the Games. The additional capacity will form a key link in Telstra's rapidly expanding global IP network. The upgrade extends an already strong relationship between the two companies. For instance, Cisco supplies the majority of equipment for Telstra's national Internet backbone in Australia, Big Pond, and associated international IP gateways. ``This ambitious expansion augments our existing US Internet exchange in Palo Alto, Calif., and will enable us to more effectively deliver Internet traffic throughout North America,'' said Mr John Hibbard, Telstra managing director, global wholesale. New US network In the USA, Telstra is constructing its own high-speed Internet backbone network using Cisco 12000 Internet routers and other systems. New points of presence ('POPs') have been established in Chicago, Los Angeles, New York, Palo Alto and Washington DC. ``Through the extensive deployment of Cisco equipment in its domestic and international IP networks, Telstra is creating a very cohesive and highly manageable global network,'' said Terry Walsh, Cisco Systems managing director, Australia & New Zealand. The North American network will substantially increase Telstra's presence in the US market, placing Telstra in the centre of the most dynamic, sophisticated IP backbone market in the world. ``In addition to enabling us to provide better services to our customers, this move substantially enhances our competitive position as a global IP carrier,'' said Mr Hibbard. Telstra and Cisco The USA rollout project was commissioned in April 2000 and completed by August, with Cisco handling much of the project deployment work directly in the USA. Telstra and Cisco also recently completed project 'EpiCentre', a one gigabit per second Ethernet network for corporate users in Australia's major business centres. ``Telstra is a key customer for Cisco in the Asia Pacific region and increasingly on a global scale,'' Mr Walsh said. ``We are very pleased to be working so closely with Telstra, both in terms of building networks and helping to market its services through the Cisco Powered Network program.''

To: JRH who wrote (187)	8/29/2000 7:20:15 PM
From: Guy	Respond to of 405

The price tag for the new router is expected to be upwards of $1 million. Man, that is one expensive router! If they can sell a couple thousand of them, that will really add to the bottom line. Guy

To: JRH who wrote (187)	10/20/2000 11:13:17 AM
From: The Phoenix	Respond to of 405

Could it be that the worst is over... Greenspan upbeat. Says technology continues to fuel productivity and oil price spikes will not last... www0.mercurycenter.com Greenspan remains upbeat Fed chair reports economy strong despite oil concerns BY JOHN M. BERRY Washington Post WASHINGTON -- Federal Reserve Chairman Alan Greenspan said Thursday morning that world oil prices are likely to fall from their recent highs and that the oil price spike has done little damage to the U.S. economy. In an upbeat speech at the Cato Institute's annual monetary conference here, Greenspan also said there is no ``credible evidence'' that the acceleration of productivity growth, which has been spurred by technological advances in recent years, has come to an end. The continuing gain in productivity -- the amount of goods and services produced for each hour worked -- has allowed firms to pay higher wages without passing those costs on to their customers and ``has been essential to containing price increases,'' the Fed chairman said. Touching on a key issue in the presidential campaign, Greenspan said the big swing in the federal budget from large deficits in the early 1990s to growing surpluses most recently ``has helped fill the pool of saving that has Fed productivity-enhancing and cost-reducing capital formation.'' The earlier ``outsized federal budget deficit . . . was absorbing an inordinate share of our national saving,'' he said. Vice President Al Gore, the Democratic presidential nominee, frequently makes this same point about federal finances in his campaign appearances while attacking his opponent, Republican Gov. George W. Bush of Texas, for proposing a broad tax cut that would reduce future budget surpluses by $1.6 trillion over the next decade. However, Gore has also proposed a series of smaller tax cuts that would reduce the surpluses by about $500 billion over the same period and has urged spending increases for a variety of programs that also would eat into the surplus. ``The mounting fiscal surpluses have been an important source of national saving, muting upward pressures on interest rates at a time of strong demand for private credit,'' Greenspan said. ``By keeping the cost of capital lower than it otherwise would have been, the surpluses have contributed to (greater capital investments) and faster growth of productivity.'' Then with a nod to the campaign promises and the large increase in the fiscal 2001 budget now pending in Congress, he added, ``But I believe most of us harbor doubts about whether the dynamics of the political process, some of which have been on display in the current budgetary deliberations, will allow the surpluses to continue to grow.'' Greenspan's comments on the outlook for oil prices and how their increase has affected the economy were the most detailed he has ever given. After noting that the U.S. economy uses oil much less intensively than it did in the 1970s when oil price spikes did great damage, the Fed chairman said it ``still has the potential to alter the forces governing economic growth in the United States.'' ``To date, the spillover from the surge in oil prices has been modest,'' he said. ``Any effect on inflation expectations . . . has been virtually nil. Moreover, despite some slowing that likely has been related in part to the bite from the so-called `oil tax' on household incomes, the growth of consumer spending has remained firm. . . . But policy-makers will need to be on the alert for oil-driven, indeed energy-driven, risks to our expansion.'' Greenspan said oil prices likely will fall because they are far above the cost of producing crude oil even from the most expensive oil fields in operation. While prices for oil currently available to refiners ``have soared and plunged,'' the price per barrel in futures contracts calling for oil to be delivered six years down the road ``generally moved lower over the past decade,'' Greenspan said. That six-year time span is long enough for companies ``to seek, discover, drill and lift oil,'' he said.