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To: OLDTRADER who wrote (166567)	8/21/2001 6:39:49 PM
From: TigerPaw	Read Replies (1) \| Respond to of 176387

is no way to run a railroad!-New Leader!!!!!!!! Hear! hear!, just be sure you replace the right guy.

To: OLDTRADER who wrote (166567)	8/21/2001 9:09:42 PM
From: stockman_scott	Respond to of 176387

Jim Grant on Greenspan and his bubble... grantspub.com Best Regards, Scott

To: OLDTRADER who wrote (166567)	8/22/2001 9:48:03 AM
From: Jim Willie CB	Read Replies (3) \| Respond to of 176387

no, you dont get it the Federal Reserve represents graybeard America they resented gogo tech and all that New Economy stands for they did not benefit from the rapid rise in Naz tech stocks their posterboy Al GreenSheiss orchestrated a dismantling of the tech stock parade, an unraveling of most younger people's retirement portfolios, while graybeards waited the older generation invested in bonds since spring 2000, they have risen about 30% in value all while the grays get grayer, their tans deepen, but their tennis game continues to suck the ugliest little non-secret is that GreenScrotum is widely known to own middle maturity bonds he has no Blind Trust THE REVENGE OF THE GRAYBEARDS IS COMPLETE 2% of the population just grabbed colossal wealth from 75% of America's workers / JW

To: OLDTRADER who wrote (166567)	8/22/2001 7:49:03 PM
From: stockman_scott	Read Replies (3) \| Respond to of 176387

Computer Maker Gateway Cut to Junk Wednesday August 22, 6:33 pm Eastern Time NEW YORK (Reuters) - Gateway Inc., the No. 4 personal computer maker in the United States, was cut to junk status on Wednesday by Standard & Poor's Corp., in the latest sign of problems in a hotly competitive industry amid a slowing U.S. economy. S&P cut San Diego-based Gateway's corporate credit and bank loan rating two notches each to ``BB,'' its second-highest junk grade, from ``BBB-minus.'' Its rating outlook is negative. ``The downgrade reflects extremely competitive industry conditions, a declining revenue base, and the company's expectation that it will not return to material profitability until fiscal 2002,'' the rating agency said. It said Gateway, which cut prices to compete with rivals such as Dell Computer Corp., ``may be challenged to restore profitability to expected levels'' next year. The company has said it would aim for breakeven for the rest of the current year. Downgrades to junk ordinarily raise corporate borrowing costs. Gateway spokeswoman Donna Kather said that the company hasn't released details of the restructuring yet but that Gateway is confident those steps will positively impact Gateway's business. ``The outlook it is based on current market environment and our current business, which we said we are reviewing on a global basis,'' Kather said. Its shares closed Wednesday on the New York Stock Exchange at $9.79, down 21 cents. They have fallen 84 percent in the last year. S&P issued its release after U.S. markets closed. Gateway has underperformed the American Stock Exchange hardware index by about 25 percent this year. The shares had been tracking along with its peers in that index until it reported earnings in mid-July, when the stock fell significantly. Most computer makers have been pressured this year by declining sales and narrow profit margins, but Gateway has had a particularly rough time and has lost market share to Dell, which slashed prices months ago, touching off a price war. Early this year, the company refocused its efforts on selling personal computers instead of computer services. It began closing Gateway stores and cutting costs and in May initiated an aggressive pricing campaign, called the ``Gateway Guarantee'' program, which promised consumers competitive pricing. Gateway said that plan didn't work and on July 19, reported a second-quarter loss of about $9 million, or 2 cents per share, excluding special charges and a writedown of an investment. That was down sharply from a profit of $118 million, or 36 cents a share in the year-ago quarter. Sales fell to $1.50 billion from $2.21 billion in the year-ago quarter and said it saw no imminent rebound for the U.S. consumer PC market. ``It's a difficult environment for all PC makers and particularly for Gateway because its geographic and customer focus is on U.S. consumers and also because its cost structure had become too high for its expected revenue,'' said David Bailey, a research analyst at Gerard Klauer Mattison & Co. in New York. Earlier this month, Gateway said it plans to shut operations in Britain and Ireland, eliminating more than 1,000 jobs. ``Its challenges are large, given the current abysmal state of the PC market,'' said John Moore, an analyst at Moody's Investors Service, which has assigned Gateway ``Baa2'' issuer and bank loan ratings, its second-lowest investment grade, with a negative outlook. The company, he said, ``has a good-looking balance sheet,'' but that because of industry pressures ``it would take an unforeseen, fabulous acceptance of a new PC cycle, perhaps spurred by the introduction of Windows XP, to change our outlook back to stable.'' Gateway has a $300 million unsecured bank credit line, including a revolving line of credit and a subfacility for letters of credit, but had not drawn on the revolving line as of June 30, according to a securities filing.