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Technology Stocks : Varian Semiconductor Equipment Associates -- VSEA -- Ignore unavailable to you. Want to Upgrade?


To: Proud_Infidel who wrote (836)9/5/2000 9:21:25 PM
From: ima_posta2  Respond to of 1929
 
A very scary Susan B. Felch talks about her bathroom videotaping history!

FALCON: Do you know how many weeks the camera was located in your office?

FELCH: I don't remember exactly.

FALCON: Approximately?

FELCH: I would say somewhere two to five weeks.

FALCON: And did you ever see any of the videotape that was taken by that camera?

FELCH: No.

FALCON: Did you keep any kind of log of the times that you saw Mike Delfino walking along that hallway or breezeway while the video camera was in your office?

FELCH: As in written log?

FALCON: Well, let's start with a written log.

FELCH: No.

FALCON: Any type of log.

FELCH: Not really, no.

FALCON: I mean, what's "not really"?

FELCH: The only thing I did was at the one time when we did -- when I did see him make the telephone gesture, I made a phone call to Craig Moro to tell him that it had occurred.

FALCON: And do you know whether any still pictures were made of that particular segment of the videotape?

FELCH: With certainty, no.

FALCON: You never saw them --

FELCH: No.

FALCON: -- if they did exist.

FELCH: They could.

FALCON: So Mr. Moro didn't present you with some still photos and say "is this Mr. Delfino making face gestures or phone gestures to you"?

FELCH: No.

FALCON: Or anyone else present those, what purported to be still photos.

McMAHON: Objection, to the extent it calls for you to disclose whether or not an attorney showed you those, don't answer the question. Otherwise, you can answer the question.

FELCH: No.

FALCON: During the time period that the camera was located in your office, approximately how many times did you view Mr. Delfino in the breezeway where the camera was focused passing one way or the other?

FELCH: Would be a real rough estimate.

McMAHON: Can you read back that question?

(Whereupon, the record was read as follows:
"Q. During the time period that the camera was located in your office, approximately how many times did you view Mr. Delfino in the breezeway where the camera was focused passing one way or the other?")

FALCON: What's your real rough estimate?

FELCH: I would guess three times a day, times the number of days, if we said say four weeks, that would be 20 days, so maybe 60 times.

FALCON: And during that time period, you only saw him make a gesture or a face or a hand gesture, whatever it was, that one time?

FELCH: That's correct.

FALCON: Did anyone besides yourself and Mr. Moro, to your knowledge, know that the camera was in place in your office?

McMAHON: Objection, vague. You can answer the question.

FELCH: Only Human Resources and in-house counsel.

FALCON: Did Mr. Zdasiuk know?

FELCH: I don't know.

FALCON: You didn't tell him.

FELCH: I didn't tell him.

FALCON: Juanita Sonico, did she know?

FELCH: I don't think so.

FALCON: Now, the time that you saw Mr. Delfino make the phone gesture to you, you said you called Mr. Moro, is that correct?

FELCH: Yes.

FALCON: Did you actually talk to him?

FELCH: I don't remember whether he answered the phone or whether I left a phone mail message.

FALCON: And what did you say on the phone mail message, as best you can recall?

FELCH: Best I can recall, I said something to the effect that at whatever time it had just been, Mr. Delfino passed and made the phone gesture.

FALCON: Had you and Mr. Moro made arrangements that if you saw an incident, you were to phone it in or log in it to him?

McMAHON: Objection, vague.

FALCON: Was there a protocol to that effect?

FELCH: Not sure there was a formal protocol, sort of an informal agreement.

FALCON: And when did that informal agreement come up?

FELCH: I would assume when we set up the camera.

FALCON: Did Mr. Moro suggest if you see anything, let him know that you saw it, the day and time?

FELCH: I believe so.

FALCON: How was the camera in your office hidden, if it was hidden, was it disguised in any way?

FELCH: It was hidden behind a pile of papers and books.

FALCON: Did you ever check to see whether or not you could spot the video camera from outside your office?

FELCH: No.

FALCON: Anybody tell you they spotted a video camera in your office?

FELCH: No.

FALCON: Now, besides Mr. Delfino, the one incident that you called Mr. Moro on, did you witness any others making annoying or unflattering expressions or gestures to you during that time period that the camera was in place?

FELCH: Not that I can recall.

FALCON: Do you recall reporting, making any other reports to Mr. Moro, other than this one incident where you called and either spoke or left a message that you saw Mike make a gesture?

FELCH: That were made during that time period?

FALCON: Yes.

FELCH: I don't recall any.

FALCON: Was there any formal or informal protocol that said that you were to keep some kind of log of when you were actually in your office?

FELCH: No.

McMAHON: Give me a chance to object.

FELCH: Okay.

FALCON: The reason I ask that is, do you know whether or not the video camera would only select times in which you were -- to operate while you were present in the office, versus times when you're off work or in the lab or something?

McMAHON: Vague and ambiguous, calls for speculation. You can answer the question.

FELCH: I don't know of any.

FALCON: Tell me about what you observed Mike Delfino doing on this one particular incident.

FELCH: I believe that it was the same phone gesture that we've described before.

FALCON: And that was putting small finger and thumb up to mouth and ear and what, wiggling a little bit?

FELCH: Yes.

FALCON: Anything else?

FELCH: Not that I can remember.

FALCON: And the problem with that in your mind was what?

McMAHON: Objection, vague. You can answer the question.

FELCH: The problem was that it had been made so many times, it was clearly ridiculing me, and because of the fact that it had occurred so many times, it was starting to disrupt my thought during phone conversations I was having, often with colleagues, within or without Varian, and affecting people's perception of my professionalism.

FALCON: During the, let's use four week's approximation that the camera was in place in your office, were you ever during that time period away on any trips or vacations?

McMAHON: Objection, to the extent it misstates her testimony. She gave an estimate of two to five, so if you would like to ask the question two to five, that's okay with me.

FALCON: Whatever the time period was, during the time that the camera was in place, were you ever away for any period of time more than a day or two?

FELCH: I don't remember.

FALCON: Do you know whether the video recorder had an audio track capability also?

McMAHON: Calls for speculation. You can answer the question.

FELCH: I don't know.

FALCON: Were you concerned at all that maybe your conversation in the office might be recorded by the video camera?

FELCH: (Shakes head.)

McMAHON: Objection, vague. You can answer the question.

FELCH: No.

FALCON: Do you know whether a video camera was also focused at any time in your direction within the office?

FELCH: I don't know.

FALCON: Is there any way, to your knowledge, a witness or a camera or photograph, coinciding with the time that Mike Delfino made the phone gesture towards you that apparently was on a recording, showing what you were doing at the same time?

McMAHON: Think I know what you're trying to say, but I'm not sure that was -- if you understand the question, you can answer it, but I'll just object as vague.

FELCH: I don't know of any other video recording equipment at the time.

FALCON: Was there anyone in your office at the time that you saw Mike Delfino go by making the phone gesture?

FELCH: I don't believe so.

FALCON: Do you know if there were any witnesses that have come forward that said they saw that particular incident?

FELCH: I don't know of any.



To: Proud_Infidel who wrote (836)9/6/2000 9:13:10 AM
From: Proud_Infidel  Read Replies (2) | Respond to of 1929
 
Sep 4 2000 7:00AM ET More on Bargain Bin...
Pick of the Week: Varian Semi
By Frances Hong
Technology Reporter

WHO: Byron Walker, UBS Warburg semiconductor-equipment analyst
STOCK PICK: Varian Semiconductor Equipment Associates Inc. {VSEA}

CURRENT PRICE: $57.50

12-MONTH PRICE TARGET: $85

VALUE-ADDED BENEFITS: Varian Semiconductor Equipment Associates is the world’s top maker of ion-implantation systems, and it stands to capture increased sales as the industry transitions to 300mm production.

--------------------------------------------------------------------------------

Got a few extra chips to place some bets on? Consider the chip-making equipment sector, which, though volatile, is still riding a wave that is expected to last at least through 2001.

In fact, Walker favors chip capital-equipment maker Varian Semiconductor Equipment, which specializes in chip-processing equipment, particularly ion-implantation systems.

The company's systems help chip makers deliver smaller, faster and more feature-packed chips.

At their current price, Walker says the company's shares represent an exceptionally strong value at about 17 times expected calendar-year 2000 and about 14 times calendar-year 2001 earnings.

Walker rates the stock "strong buy" with a 12-month price target of 85. Other industry analysts seem to agree, as Lehman Brothers recently upped its rating to "buy" from "neutral," noting that industry forecasts for ion-implant growth are much too conservative.

Analyst Opinions:
Varian

Strong Buy 5
Buy 4
Hold 1
Sell 0
Strong Sell 0
Source: Zacks Investment Research Inc.
With industry-leading customers, such as International Business Machines Corp. {IBM} Micron Technology Inc. {MU}, the company’s growth should be sustainable for the near future. Walker estimates the firm’s earnings per share for the fiscal year ending Sept. 30 and fiscal 2001 to be $2.40 and $3.92, respectively. Revenue for the same period is estimated to be $679 million and $930 million, respectively.

"These are inherently cyclical and volatile stocks," the analyst says. "We had a speculative surge in the beginning of the year, but they are returning to more value-oriented pricing." In fact, Walker says the upcycle can continue into 2002, though at slower rates than the exceptional levels seen during the past 18 months.

Varian Semiconductor Equipment Two-Year Stock-Performance Chart

What will help drive the company's growth?

High demand for wireless and communication devices, such as cell phones, PCs and personal digital assistants. "We’re looking for a strong fourth-quarter semiconductor device build cycle to contribute to [Varian Semiconductor Equipment's] top-line growth," Walker says.

Handheld Market Is Getting Crowded

One of the firm’s competitive advantages is its offering of a single platform
ion-implant solution across all currents and energies, which reduces the cost of fab ownership.

As the industry transitions to 300mm wafers from 200mm wafers, which allow the creation of about 2.5 times more chips on a wafer, Varian expects to reap the benefits. It is the market share leader in 300mm-capable ion-implant tools, with more than 50 percent of pilot-line orders, Walker says.

Chip-Equipment Stocks to Watch

"The firm will continue to grow its ion-implant market share and expand gross margins," the analyst adds.