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To: Gottfried who wrote (53108)	9/25/2001 1:17:23 PM
From: Sam Citron	Read Replies (1) \| Respond to of 70976

Greenspan, Rubin Say Any Stimulus Plan Should Be `Significant' By Rob Wells Washington, Sept. 25 (Bloomberg) -- Federal Reserve Chairman Alan Greenspan and former Treasury Secretary Robert Rubin told Senators that if they pursue an economic stimulus package, it should be ``significant,'' perhaps as high as $100 billion, participants in the meeting said. Senate Finance Chairman Max Baucus of Montana and Senator Charles Grassley of Iowa, the committee's top Republican, said both Rubin and Greenspan repeated that it's too early to determine whether any additional tax cuts or spending are needed to stimulate the economy. ``There are a lot of `ifs' and the data could go in either direction,'' Baucus said. Greenspan and Rubin met with the Senate tax writing panel in a closed session this morning to discuss the state of the economy and options for Congress to boost economic activity. The U.S. economy already was slowing when it was jolted by the Sept. 11 terrorist attacks, which forced a temporary shut down of the airline industry and caused other economic disruption. U.S. stock indexes declined every day last week in the first trading after the disaster. Greenspan and Rubin said that if the decision is made to push an economic stimulus package, it should be substantial. ``Someone said that to do anything, quote, significant,'' Baucus said, ``it should be 1 percent of GDP and that would be $100 billion.'' ``We heard much higher numbers today on the stimulus package from our two experts than I anticipated to hear,'' said Grassley said.

To: Gottfried who wrote (53108)	9/25/2001 4:57:51 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 70976

AMD to Close Two Chip Plants, Cut Jobs SUNNYVALE (Reuters) - Advanced Micro Devices Inc., the chief rival to Intel Corp. (Nasdaq:INTC - news) in the market for microprocessors, said on Tuesday that it will cut 2,300 jobs, or about 15 percent of its work force, and shutter two chipmaking plants in a bid to cut costs. Sunnyvale, California-based Advanced Micro Devices (NYSE:AMD - news) said it will close two chipmaking plants, Fabs 14 and 15 in Austin, Texas. About 1,000 of the job cuts are associated with closing the plants in Austin. The remainder of the cuts will come from cuts in Penang, Malaysia. As a result of the moves, AMD said it will take a third-quarter charge of $80 million to $110 million, adding that it expects to save $125 million annually. AMD, along with Intel and the entire semiconductor industry has been battling slumping demand and slow personal computer sales due to slowing economies, particularly in the United States. Some market researchers see global chip sales declining as much as 34 percent this year in light of flagging demand. Shares of AMD fell 59 cents, or 6 percent, to $9.22 on the New York Stock Exchange (news - web sites) before trading was halted pending the announcement.