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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (120975)	6/26/2002 8:30:21 AM
From: Art Bechhoefer	Read Replies (1) \| Respond to of 152472

WCOM could be the catalyst for telecom recovery. Here's what could happen. The company has so much debt that it cannot survive in any form and should be liquidated. Companies like Sprint and AT&T, plus a couple of the regional Bells would acquire the existing accounts, but would abandon duplicative, excess resources, if any. Bondholders would receive about 50 cents on the dollar, eventually, probably in the form of preferred stock. The same solution might occur for Qwest, which is close to bankruptcy, with regional Bells and Touch America, and possibly AT&T picking up some customers and needed assets, with the remaining assets abandoned. Again, bondholders would get 50 to 70 cents on the dollar, eventually, and probably in the form of preferred stock. Long distance operators provide the backbone for data communications, whether wireline or wireless. Demand for broadband capacity is NOT declining. The problem is that existing capacity is temporarily much greater than demand, causing low margins and/or inability to service debt, given the temporary lack of demand. The administration has a record of favoring consolidation of small companies into big ones. It also faces the prospect of huge political losses in November unless it can straighten out this mess in a hurry. Even conservative bankers will turn against the adminsitration if the bankruptcies of these and other large companies cause a hit on their loan portfolios. So, in the interest of self preservation, the adminsitration will likely take immediate action to keep the bankers happy and stave off any further collapse in the equities markets. Of course, I'm an optimist and assume that the administration is smart enough to see what's happening. Art Bechhoefer

To: Wyätt Gwyön who wrote (120975)	6/26/2002 8:31:30 AM
From: waitwatchwander	Read Replies (1) \| Respond to of 152472

Siemens given 3G go-ahead in China news.ft.com By Martin Kühl in Beijing and Sven Clausen in Munich Published: June 25 2002 0:48 \| Last Updated: June 25 2002 0:48 The Chinese government has given Siemens, the German technology group, and Datang, its Chinese partner, the go-ahead to build a third-generation mobile communication network based on the jointly developed TD-SCDMA standard, according to industry insiders. The TD-SCDMA decision is the first in 3G technology in China. The move shows that the Chinese leadership is eager to push locally developed technology into the country's booming mobile communications market. China had about 145m people using mobile phones at the end of last year, according to the Chinese Ministry of Information Industry. The International Telecommunication Union has recognised TD-SCDMA alongside UMTS and CDMA 2000 as a 3G standard. TD-SCDMA has less transmission capacity and speed than its rivals but is cheaper as an upgrade to existing GSM networks. Datang said the first field trials of the new standard had been successful. Siemens has promised a launch before the end of the year - a schedule many analysts doubt in the light of delays at 3G network projects elsewhere. Much will depend on which company will operate the new network. Only China Mobile, the market leader, and China Unicom currently have licences. As China Mobile is using GSM at the moment, the standard used in most European countries, it is expected to opt for UMTS, GSM's 3G successor. But Chinese media have reported that China Mobile was interested in using TD-SCDMA in populated areas such as Shanghai. China Unicom is considered a likely candidate for CDMA 2000 in the longer term.

To: Wyätt Gwyön who wrote (120975)	6/26/2002 10:18:36 AM
From: Clarksterh	Read Replies (1) \| Respond to of 152472

MM - What happened?! Wake up on the right side of bed? Oddly you are being optimistic. You seem to think that this is about accounting fraud within the 'pro forma' numbers and presumably therefore that one need only look at the GAAP earnings and everything will be fine. The Worldcom problem was about GAAP earnings, not Pro Forma. They didn't even report pro forma earnings for the last quarter. If you want to fool the auditors (especially if they are Andersen-ng), it apparently isn't hard to do. IMO the only solution for a Worldcom type problem is to change corporate governance. Some ideas: 1) all compensation for anyone on the board and for the president and the CEO must be voted on by the shareholders (and zero is always an option so the board better put in reasonable numbers to be voted on)? 2) a certain percentage of the board must be somehow unaffiliated with the nepotistic board culture (e.g. SEC appointed? Stakeholders (like in Germany)?) 3) No one should be allowed to sit on more than (2?) boards? 4) Every board must have at least one outside CPA? ??? Clark