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Technology Stocks : MSFT Internet Explorer vs. NSCP Navigator -- Ignore unavailable to you. Want to Upgrade?

To: Daniel Schuh who wrote (13752)	10/27/1997 6:11:00 PM
From: Daniel Schuh	Respond to of 24154

Microsoft should settle zdnet.com Actually, the lead in from the zdnet front pages said "Microsoft should give up", which I would have quoted just for symetry with that big "give up" upside article, but I usually take my titles from what's at the URL, to avoid misunderstandings. Microsoft is probably loath to settle with the government at this juncture, but doing so might be advisable. An all-out war with the government wouldn't be a healthy turn of events for the software industry. Even so, PC companies should be allowed to unplug Internet Explorer 4.0 as they wish, and they should not be forced to carry it. And Microsoft should also stop taking everyone for fools, telling us IE 4.0 is a feature of the operating system. Microsoft lists the two as different, listing them on its Web site as distinct "products," under different categories. ... But PC companies greatly fear Microsoft. One made the mistake of referring to Microsoft as "our supplier" during negotiations. "We are not your supplier," a Microsoft negotiator tersely shot back. That's where the exchange ended, so exactly what Microsoft meant was not revealed. Hmm,maybe old Liz SuperSonics could explain that last one, or at least explain how I'm going nuts from my Microsoft shorts again. Cash is King, I say. Cheers, Dan

To: Daniel Schuh who wrote (13752)	10/27/1997 6:19:00 PM
From: Daniel Schuh	Read Replies (1) \| Respond to of 24154

A Frisco flop zdnet.com Recently, Microsoft launched its San Francisco Sidewalk city guide. I'm beyond disappointed. The site is shallow, poorly organized, lacking in linkage, and full of bad information. And by bad information I mean completely inaccurate nonsense. This stuns me knowing that Microsoft Chairman Bill Gates is a stickler for accuracy. Apparently he's not checking for it much anymore. ... The New York site is as pathetic as the San Francisco site, with restaurant reviews that are even more pretentious and useless. Send these "writers" a copy of Strunk and White, please! Worse, it seems as if these reviews were dry-labbed -- the technique whereby you really never go to the place. For example, in reviewing the restaurant Daniel, one of only four restaurants to which Sidewalk gives four stars in New York, the reviewer says, "The tightly arranged, softly upholstered room has overhead spotlights which make some diners look downright scary, and the ill-lit paintings are a yawn." From here you can link to the Zagat review (not a link to the Zagat site, but to a page on Sidewalk "quoting" Zagat) where the restaurant is described as having "beautiful decor, "gracious" service and serious "people-watching." I've been to this restaurant and can't understand what the Microsoft reviewer is talking about. And if it's as grim as he/she described it, then how did the place get such as high ranking? I should note that nobody fesses up to writing any of these reviews. They all seem to be anonymous. For good reason. As it now stands, Sidewalk gets no stars from me. Oops, another slipup by the New Media Juggernaut, maybe a few more people need to be accordianized here. Or maybe Dvorak is just a sourpuss. Beats me, there's bigger things to worry about anyway. Cheers, Dan.

To: Daniel Schuh who wrote (13752)	10/27/1997 6:52:00 PM
From: Bill Harmond	Read Replies (1) \| Respond to of 24154

Comments from Morgan Stanley key analysts early today: Barton Biggs (Chief Global Strategist) "Drops in Asian markets are a warning signal that not only Southeast Asia but also China itself are slipping into an economic slowdown that could be severe and persistent. The steepness of the decline in Hong Kong is a warning sign as to what can happen when equity markets are commoditized by derivitaves: there are no orderly exits from elevated markets when psychology changes. Stocks and Bonds have delinked in the US for the time being. "So what happens now? If Asia stabilizes, there could be a melt-up in the US with stocks and bonds both going to new highs but stocks doing better than bonds. Or, if the Asian crisis spreads and intensifies, a hostile new environment of competitive devaluations, trade wars, much slower growth, deflation, and earnings disappointments could develop, which would result in a meltdown in stocks and a meltup in bonds." Peter Canelo (US Strategist) "The impact on the US stock market of the Asian crisis should be limited, given the US economy's limited exposure to these markets. In fact, the US is likely to be perceived as a safe haven for financial assets, and the US stock market has been holding up better than those in Europe." Byron Wien (Chief US Strategist) "The delinkage between bonds and stocks is unlikely to presist. I believe that stocks and bonds are still linked, primarily because the US economy remains in good shape. Also, the economic implications of the problems in Southeast Asia should not be sufficiently negative to create major problems for the rest of the world. "At the peak on August 6, the US market was 17% overvalued by my calculations, and it was 15% overvalued as recently as last week. Now it appears to be only 9% overvalued, and looking toward next year's earnings, it appears to be only 6% overvalued. Thus, with the market approaching fair value, I believe that a buying opportunity could be developing if the linkage between stocks and bonds holds. The market could sell off 5-10% from here, but I believe that investors should be more focused on what to buy, rather than what to sell. "Third quarter results have generally come in better than expected, Mutual fund flows are still strong, and the Fed is unlikely to tighten before year-end. The ripple effect from the turmoil in Southeast Asia may carry through to the US somewhat further, but a buying opportunity could be developing if the stock/bond linkage holds." [Yes, he repeated himself] Stephen Roach (Chief Economist) "It is important to put Southeast Asia in a global context. Non-Japan Asia constitutes about 23% of global GDP, and 70% of this is in China and India. Excluding those two countries, the figure is only 7%. This is hardly trivial, but it is not dominant. "Even if there is an enormous shortfall (i.e. zero or negative growth) in Asian GDP, this would only knock 3 or 4 tenths of world GDP. Regarding Japan, we do not think the risk is as serious as some believe. Japan's exports to Asian countries are not that large a part of its total exports, and non-performing loan exposure does not look that extreme either. For the US I estimate that the worst-case impact on GDP would be a quarter of a point in 1998. "I expect the world's central banks to respond to the crisis as they have in the past, by putting domestic agendas on hold in an attempt to supply liquidity and stability. There is even less chance that the Fed will raise rates in the near term, which increases the likelihood that the Fed will fall behind the curve, making the case for tightening next year even more real."