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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (92621)	7/8/2002 4:42:23 PM
From: Softechie	Read Replies (1) \| Respond to of 99280

CAPITAL VIEWS: 'Appalled, Angered, Alarmed' At Scandals 08 Jul 13:11 By John Connor A Dow Jones Newswires Column WASHINGTON (Dow Jones)--The corporate crime wave, like a cross-eyed javelin thrower, seems to have captured the crowd's attention. As a sign of the times, the chief executive officers of the Business Roundtable, representing many of the largest companies in the U.S., said in a statement Monday that they "have been appalled, angered and, finally alarmed at the stream of revelations which have emerged in the past six months concerning a number of public companies. "Where there have been violations of law, we believe that the violators should be prosecuted - promptly and to the fullest extent possible," the blue-ribbon business group added. The public profile of the scandals no doubt will rise another few notches Tuesday when President George W. Bush gives what's being billed as a major speech in New York City in which he's expected to decry corporate misconduct and to call for stern action against wrongdoers. While awaiting further developments, there's no shortage of people commenting on the scandals and theorizing, directly or indirectly, about the underlying causes thereof. John Dillon, chairman of the International Paper Co., said in passing during an appearance Sunday on ABC TV that "we've been through a period of a tremendous bubble in the share market." As for the scandals and what some perceive to be a heavy political content to the various reactions thereto, Dillon said that "this is not a political situation." He elaborated: "This is a situation where a few CEOs and the leaderships of major American corporations are incorrect. They have taken advantage of their situation. They have not followed the accounting rules. They have not understood the difference between right and wrong." Securities and Exchange Commission Chairman Harvey Pitt remarked recently that"this is, unfortuntely, a mess that I inherited from the prior administration." Senate Majority Leader Thomas Daschle, D-S.D., said Sunday on CBS-TV that Pitt has been "a huge disappointment." He said Pitt was "the one who said we want a kinder and gentler SEC - just the opposite of what we should have had." Meanwhile, ex-SEC Chairman Arthur Levitt said on NBC TV Sunday that "we were totally frustrated by a deregulatory Congress that stood in the way of every investor initiative that we came up with." Rep. Billy Tauzin, R-La., appearing on the same show as Levitt, said there was "no empirical evidence" at the time to support what Levitt was pushing for. But Tauzin acknowledged that the reforms Levitt sought "probably are called for today." Interestingly, Levitt cautioned that "there's always a tendency to overreach in a situation like this for political advantage. "I think you have to think very carefully before you establish levels of liability," Levitt continued. "Yes, CEOs should be liable. But the question of imposing criminal liability should be approached with caution, in my judgement." Subscribers can find Capital Views on: Telerate page [4021] Dow Jones Newswires by searching the code N/POV Bloomberg by entering NI POV Reuters by entering keyword Capital Views (John Connor, a veteran observer of the financial markets and the Washington scene, is Washington bureau chief for Dow Jones Newswires. He can be reached by E-Mail at John.Connor@DowJones.Com) (END) DOW JONES NEWS 07-08-02 01:11 PM

To: Softechie who wrote (92621)	7/8/2002 5:04:07 PM
From: dvdw©	Read Replies (2) \| Respond to of 99280

Who writes this nonsense? Or more importantly who with their eyes open would believe it. Here is an excerpt and my comment, as I dont have time to take the whole piece apart. Quote "But InStat's Cullen isn't so sure consumer electronics - or anything else for that matter - will drive growth like PCs did. "There is no new killer app out there that you can put your finger on and say this will be a driver of a huge amount of demand," said Cullen. "People are waiting for old things to recover - when will PCs turn around, when will cell phones pick up, when will networking come back. Nobody's saying, 'gee here's this great new gadget.' There's nothing like the PC on the horizon." This is the utmost nonsense; as writeable DVD or DVD/R is a killer application bigger than anything seen by the PC industry since the Internet. I am a participant in this industry and know of what I speak. Frame the issue this way; Because of the affordability of DVD/R drives for fall of 02, you can expect a revolution in content creation unseen since the advent of Desk top Publishing in 1985. The production of DVD's at the local level will account for more content creation between 2002 and 2005 than the entire Entertainment industry has created since it's inception. That dear people, is a lot of content, and this boob making the above statement is simply all wet!