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Technology Stocks : Dell Technologies Inc. -- Ignore unavailable to you. Want to Upgrade?

To: D.J.Smyth who wrote (164330)	3/8/2001 12:22:58 PM
From: calgal	Respond to of 176387

Dell shifts around top office By Janet Haney, CBS.MarketWatch.com Last Update: 4:52 PM ET Mar 7, 2001 ROUND ROCK, Texas (CBS.MW) - Dell Computer made some changes to its top office Wednesday, naming two top executives as co-presidents and chief operating officers. Kevin Rollins and James Vanderslice now share the titles of president and chief operating officer, replacing their previous positions as vice chairmen. Dell (DELL: news, msgs, alerts) hasn't used the corporate president or the COO titles at the company in recent years. Rollins and Vanderslice will continue to report to Chief Executive Officer Michael Dell. Rollins joined Dell in April 1996 as president of Dell Americas and was elected vice chairman in December 1997. Vanderslice joined the company in December 1999, after more than 30 years at IBM (IBM: news, msgs, alerts) . Dell's stock has been on a tear lately, moving higher in the last four sessions. Its shares, though, tapered back in recent action, falling by 25 cents to $25.94. Janet Haney is a reporter for CBS.MarketWatch.com in San Francisco. rd.yahoo.com*http://www2.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&guid=%7BC65D8C59%2DF6B2%2D4C24%2DAB32%2D0DE6519B14B7%7D

To: D.J.Smyth who wrote (164330)	3/8/2001 2:06:46 PM
From: stockman_scott	Read Replies (1) \| Respond to of 176387

Fed Chiefs See Improved Economy in 2001 Thursday March 8, 12:50 pm Eastern Time By Laura Jacobs <<OLYMPIA FIELDS, ILL. (Reuters) - The U.S. economy is not contracting and will likely stage a rebound from its current weakness later in 2001, two Federal Reserve officials said on Thursday, less than two weeks before the central bank's next interest rate meeting. New York Fed President William McDonough and Chicago Fed chief Michael Moskow, in separate speeches on separate continents, said nothing to derail analyst expectations for a hefty half-percentage point cut in short-term interest rates at the central bank's next meeting on March 20. But both officials downplayed recession fears. McDonough said the U.S. economy, while still expanding, will likely be weak in the first quarter but will not contract. Recessions are commonly defined as two straight quarters of contractions in growth. ``I think the question is what is the first quarter likely to be, which is fairly likely to be quite weak, probably slightly positive,'' McDonough told reporters in London after delivering a speech to the British Bankers Association. Moskow, for his part, said the U.S. economy was not in a recession but said the greatest risk facing the world's largest economy remained weakness, not inflation. ``I don't personally think we're in a recession at this time,'' Moskow told reporters after speaking to the Prairie State Foundation in Olympia Fields, Ill. But in a comment that echoed other Fed officials, he added, ``I think the balance of risks are still toward weaker economic growth.'' CAUTIOUSLY OPTIMISTIC Moskow and McDonough both are voting members on the Fed's policymaking Federal Open Market Committee this year. Responding to mounting evidence of a rapid slowing in the economy, the FOMC cut rates by a half-percentage twice in January, bringing short-term interest rates to 5.5 percent. In his speech, Moskow said inflation would likely remain contained, suggesting that Fed officials are not feeling a significant enough threat of higher prices to hinder them from cutting interest rates further later this month. ``We recognize there are downside risks (for the economy),'' he said. ``But we're cautiously optimistic that inflation will remain in check, while economic growth will return to higher levels by the end of the year.'' Moskow said there are advantages to changing interest rates at the Fed's regularly scheduled policy-making meetings, reserving inter-meeting moves for special circumstances. ``There are advantages to having rate cuts at the meetings,'' the Chicago Fed chief said. ``But there are times when it's necessary to move more quickly,'' he said, adding he would ``never rule out'' changing rates between meetings and considered the two times the Fed had done so in his 6-1/2 year tenure at the Chicago Fed ''appropriate.'' Market speculation heated up last week that the Fed was likely to move between meetings -- a rare event -- but congressional testimony by Fed Chairman Alan Greenspan dashed those hopes. Greenspan, too, said he preferred rate cuts to come at regular meetings. The U.S. central bank surprised investors Jan. 3 when it cut interest rates after a conference call almost four weeks before its next scheduled meeting. INVENTORIES EYED Both Moskow and McDonough said their expectation for a rebound partly hinged on a quick decline in firms' inventories. As the U.S. economy rapidly lost steam late in 2000, companies, which had ramped up production to meet soaring demand, suddenly found themselves with large stockpiles and no buyers. McDonough called the inventory correction ``rather sharp'' but added it may have further to run. ``I don't think it has finished bottoming,'' he said. Moskow said the buildup in firms' inventories was ``an important part of the forecast puzzle,'' but said companies appear to be quickly bringing inventories in line with slowing demand thanks to improved technology, which quickly alerted them when demand began to weaken. Moskow also noted that higher energy costs, which have threatened to spark inflation and taken a chunk out of consumer spending, were a risk to his rebound forecast. ``Energy supplies relative to demand are expected to improve,'' he said. ``But supply pressures have not retreated fully and could hold the economy back. Further shocks could cause trouble.'' Energy costs have risen in recent months due to increased demand and lower supply. He said flagging business and consumer confidence could also knock a turnaround off its tracks. ``The recent drop in consumer confidence is expected to be temporary,'' Moskow said. ``But there is a risk that it will linger and reduce spending. And on the supply side, business expectations could also be a risk.''>>