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Technology Stocks : Seagate Technology -- Ignore unavailable to you. Want to Upgrade?

To: Stitch who wrote (4335)	12/19/1997 7:54:00 PM
From: Gus	Read Replies (1) \| Respond to of 7841

Akashic lays off 750 workers BY TOM QUINLAN Mercury News Staff Writer spyglass1.sjmercury.com "...I think the layoffs surprised us and surprised Akashic,'' said StorMedia Chairman and CEO William Almon, who indicated that platter manufacturer StorMedia's deal to buy Akashic is still expected to close by the end of this year...." ".....What all of this says is that the downturn that we had known was coming is much more serious then we had thought," Almon said. "All we can do right now is kind of hunker down and try to weather it," he added. "I think the combined company will come out of it with renewed vigor...." ....Akashic -- the Sanskrit word for the pictorial record of all thoughts, feelings, words and actions since the beginning of time -- still operates four facilities in the South Bay, and continues to run at least one plant in the Far East in conjunction with Kubota, of Japan."