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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: Rich Wolf who wrote (20544)	7/19/2002 9:19:58 PM
From: Rich Wolf	Respond to of 21876

LU trims orders from AGR bigcharts.marketwatch.com{0BECC7A8-8DA4-4411-8E2A-524134C90B11}&newsid=800317384&orig=&time=&symb=LU&sid=16617&source=htx\http2_mw CHICAGO, July 19 (Reuters) - Semiconductor and optical components maker Agere Systems Inc. (AGRA) said on Friday it has altered and extended its supplier agreement with former parent Lucent Technologies Inc. (LU) because of the weak telecommunications spending environment. Instead of an agreement under which Lucent would have bought $2.8 billion worth of Agere products through January 2004, the new agreement ties Lucent's commitments to a percentage of its spending and extends the deal to September 2006, according to documents filed with the U.S. Securities and Exchange Commission. The companies agreed to the new deal on Wednesday, while the initial pact was announced in August 2001. Lucent spun off its remaining 58-percent stake in Agere earlier this year. Agere spokeswoman Vibha Agrawal said the company agreed to the switch because of the drastic slowdown in telecom spending and to maintain a good relationship with one of its largest customers. "We wanted to work with them on this, and we think this is a mutually beneficial agreement," she said, adding that the deal could have an upside for Agere as the market improves. Agere said last year that it sold about $1 billion of products to Lucent in fiscal 2001, up from about $925 million the previous year. Under the new deal, Lucent has agreed to buy 90 percent or $250 million, whichever is greater, of necessary existing products from Agere in the current fiscal year ending Sept. 30, the SEC filing said. In the subsequent four fiscal years through September 2006, Lucent will buy 90 percent of existing products that it needs from Allentown, Pennsylvania-based Agere, the SEC filing said. The rate is 60 percent for new products. The deal stipulates that Agere's products must be competitive, according to the SEC filing. Under the deal announced last year, Lucent agreed to buy at least $800 million of Agere products from Feb. 1, 2001 through Jan. 31, 2002, and at least $1 billion in each of the two years after that. That deal allowed Lucent to carry over portions of the yearly purchase commitments during the first two years.

To: Rich Wolf who wrote (20544)	7/29/2002 12:50:51 PM
From: Jesica Dawnet	Read Replies (1) \| Respond to of 21876

Here is a short response for now. From what I have, and lets say, the papers I have seen, they have false charges of about a 10 to 1 ratio and possibly worse. Basically, those are the amounts owed and disputed with Level but Level 3 still show them as revenue. If I recall, I think something similar happened with Northpoint Communications, and investments that were to be were cancelled, and so they quickly went BK. The situation is a little different for L3, in which they could get investigated. I believe Mr. Buffet recently bought their debt, and he is going to be in for a shocking surprise, and very angry to find that what he bought is a hell of lot less. I don't know when all of this is going to come to surface, but for Northpoint, it took somewhere between 8 months and a year before the information got to needed ears. That is about how long it has been for Level 3 since their corrupt charges.