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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (2501)	9/20/2000 9:26:54 AM
From: Dealer	Read Replies (1) \| Respond to of 65232

CSCO--Cisco and NEC Announce Global Alliance for Enterprise Voice Over IP Solutions Companies to Promote Shared Vision for Single Integrated Data, Voice and Video Architecture -- Cisco AVVID SAN JOSE, Calif. & TOKYO--(BUSINESS WIRE)--Sept. 20, 2000-- Cisco Systems, Inc. (Nasdaq:CSCO - news) and NEC Corporation (Nasdaq:NIPNY - news) today announced an alliance designed to provide enterprise customers with a cost-effective strategy for seamless migration to a single IP-based voice, video and data infrastructure. Through the newly established alliance, Cisco and NEC will work to achieve a smooth integration of NEC communications products including PBXs, applications and devices with products based on Cisco AVVID (Architecture for Voice, Video and Integrated Data), including Cisco CallManager. The collaboration includes global sales and marketing programs, interoperability verification between products based on Cisco AVVID and NEC's voice networking products, and the creation of innovative applications in the areas of call control, media integration, IP phones and computer telephony. In addition, NEC's worldwide channel and systems integration resources will be used for installation and ongoing support of these solutions. ``This noteworthy alliance between two global leaders in data and telecommunications in the enterprise network arena provides customers with true converged multiservice networks,'' said Kazunori Kiuchi, associate senior vice president and executive general manager of NEC Networks. ``NEC's prominent global position in the telecom industry, combined with Cisco's IP leadership for voice and data services, delivers an entirely new level of investment protection to our customers, providing an assured migration path to IP telephony and interoperability with Cisco's IP architecture.'' ``By expanding our relationship with NEC to include collaboration on the Cisco AVVID vision, we are able to provide our joint customers with a cost-effective IP telephony option that taps NEC's extensive channel and systems integration capabilities,'' said James Richardson, senior vice president of Cisco's enterprise line of business. ``In addition, the joint development agreement component of this alliance pools the voice and IP expertise from both companies to rapidly bring innovative new IP-based applications to market.'' The Cisco-NEC relationship aims to globally expand the collaboration the two companies have historically demonstrated at a regional level. In Japan, NEC has a broad OEM arrangement with Cisco, providing joint solutions to the market. In the United States, NEC is one of the largest system integrators for Cisco; and in Australia, NEC and Cisco operate under a joint marketing agreement. About Cisco Systems Cisco Systems, Inc. (Nasdaq:CSCO - news) is the worldwide leader in networking for the Internet. News and information are available at cisco.com. About NEC Corporation NEC Corporation (Nasdaq:NIPNY - news; FTSE:6701q.l) is a leading provider of Internet solutions, dedicated to meeting the specialized needs of its customers in the key computer, network and electron device fields through its three market-focused in-house companies: NEC Solutions, NEC Networks and NEC Electron Devices. NEC Corporation, with its in-house companies, employs more than 150,000 people worldwide and saw net sales of 4,991 billion Yen (approx. U.S. $48 billion) in fiscal year 1999-2000. For further information, please visit the NEC home page at: nec-global.com. About NEC America, Inc. NEC America, Inc., an affiliate of NEC Corporation (Nasdaq:NIPNY - news), develops, manufactures and markets a complete line of advanced communications products and software for public and private networks, including digital key telephone and PBX systems; ATM switching systems; cellular telephones; facsimile equipment; videoconferencing equipment; fiber optic transmission systems; data communications products; digital microwave radio; satellite communications and network management systems. For more information: necamerica.com Note to Editors: Cisco, Cisco Systems and the Cisco Systems logo are registered trademarks of Cisco Systems, Inc. in the U.S. and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. NEC's PBX systems are marketed under the registered trademark NEAX in the United States and Australia and APEX in Japan.

To: Dealer who wrote (2501)	9/20/2000 9:29:29 AM
From: b_spiral	Read Replies (1) \| Respond to of 65232

You missed one. Daiwa execs ordered to pay 770M for trading losses. I doubt anyone will ever see any money but it the thought that counts. nni.nikkei.co.jp Wednesday, September 20, 2000 Daiwa Bank Execs Ordered To Pay 775 Mln Dlrs For Trading Losses OSAKA (Nikkei)--The Osaka District Court on Wednesday ordered 11 former and current Daiwa Bank (8319) officials to pay shareholders a total of 775 million dollars, or 82.9 billion yen, in compensation for 1.1 billion dollars in losses the bank suffered from fraudulent bond trading involving a former employee at its New York office. The shareholders sued 49 former and current executives, seeking 1.45 billion dollars in compensation -- covering 1.1 billion dollars in losses from fraudulent trading as well as 350 million dollars in other losses, including fines the bank paid to the U.S. government in connection with the illegal activity. The court held that Kenji Yasui, former Daiwa Bank vice president and the director of the New York office at the time the fraud was committed, should pay 530 million dollars, or about 56.7 billion yen. It ordered 11 officials, including President Takashi Kaiho and Yasui, to pay a total of around 245 million dollars, or 26.2 billion yen. The presiding judge said Yasui's negligence caused him to breach his duty as a bank director to prevent wrongful acts by employees. The judge held the 11 directors to be negligent on the basis of their guilty pleas in the U.S. to charges of conspiracy to conceal the fraud and the payment of penalties by the bank. (The Nihon Keizai Shimbun Wednesday evening edition)