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To: Lizzie Tudor who wrote (11068)	4/9/2002 3:02:13 PM
From: Bill Harmond	Read Replies (2) \| Respond to of 57684

Pretty amazing. Lately I wonder whether Goldman issues these statements as cover for opposing transactions. A couple weeks ago their note on FreeMarkets had me shaking my head. If Free Markets was expensive, today's names aren't safe.

To: Lizzie Tudor who wrote (11068)	4/10/2002 5:11:02 AM
From: stockman_scott	Respond to of 57684

Oracle CEO Assumes No Tech Spending Pickup Soon Tuesday April 9, 9:25 pm Eastern Time SAN DIEGO (Reuters) - Larry Ellison, the normally opinionated co-founder and chief executive of No. 2 software maker Oracle Corp. (NasdaqNM:ORCL - news), on Tuesday passed on predicting when corporate technology spending is likely to pick up, but said he was assuming things wouldn't get better in the next three months. ``My Chinese friends tell me that predictions are very dangerous, especially when they pertain to the future. I predicted the end of this recession three months ago ... you saw how good that was,'' Ellison joked at Oracle AppsWorld 2002, the company's user conference running through Wednesday in San Diego. Last month, Oracle posted earnings that came in slightly below its previously optimistic forecast on new software revenues that fell by nearly one-third from the year-earlier quarter ended Feb. 28. Ellison and company, however, have not been alone in botching their forecasts. In recent days, company rivals PeopleSoft Inc.(NasdaqNM:PSFT - news) and International Business Machines Corp. (NYSE:IBM - news) have warned that results from their recently completed quarter would come in lower than expected. ``Businesses are still being very cautious with their capital spending,'' Ellison said. Meanwhile, Oracle has cut prices on its software and begun offering fixed-priced installations and upgrades in an effort to drum up more business, he said. Silicon Valley-based Oracle on Tuesday also became the latest high-profile company to fire Arthur Andersen LLP as the auditing firm grapples with the fallout from the collapse of energy trader Enron Corp. More than 100 firms have dropped Andersen in the wake of a criminal charge, which alleges that the auditor obstructed justice by destroying Enron documents.

To: Lizzie Tudor who wrote (11068)	4/10/2002 11:29:06 AM
From: Bill Harmond	Read Replies (1) \| Respond to of 57684

Speaking to several friends/former co-workers in both national and local television and radio advertising sales yesterday and today and they say that business has literally "exploded", particularly for May and June air dates. No one knows whether it will continue yet, and 2002-2003 TV season budgets won't be known for a month or two. However this is a really good sign, particularly because it is discretionary investment spending by businesses, and has been very weak for over a year.