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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?

To: DMaA who wrote (14027)	3/19/1998 3:51:00 PM
From: Moonray	Read Replies (1) \| Respond to of 22053

Asian crisis pushes U.S. trade deficit up WASHINGTON (AP) -- The effects of the Asian economic crisis crashed upon America's shores in January, swelling the U.S. trade deficit to $12 billion with the imbalance in goods climbing to an all-time high. The sharp increase led to sharp words from the Clinton administration, which used the strongest language yet to urge Japan to do more to stimulate its domestic economy as a way of boosting growth in the rest of Asia and reversing a widening trade gap with the United States. ''If the Japanese economy doesn't get moving, the likelihood of these other economies improving is rather slim,'' Commerce Secretary William Daley said. ''They are the key player.'' The Commerce Department reported today that the overall deficit in goods and services rose 10.5 percent from a revised December figure of $10.9 billion with the imbalance with the newly industrialized Asian nations rising to the highest level since 1990. The January trade report offered the most dramatic proof yet that the Asian crisis will have negative effects on the American economy. Most economists believe that overall growth could be slashed by as much as a full percentage point this year as the U.S. trade deficit skyrockets. The administration, worried about rising deficits, for months has been pressuring Japan, the world's second largest economy, to do more to stimulate domestic demand through tax cuts and increased public works spending as a way of providing markets for Asian goods. In unusually frank language, Daley mentioned the weak Japanese currency as one of the problems faced by the United States, a departure from past administration practice of only allowing Treasury Secretary Robert Rubin to make comments about currency levels for fear of roiling financial markets. ''In Japan, we still face a weak yen, a stagnant Japanese economy and significant trade barriers. All of these problems contribute to our persistent trade problems with that country,'' Daley said. Up until now, the Asian crisis has provided mostly positive benefits for the U.S. economy with investors rushing to the safety of U.S. investments, helping to push interest rates down sharply and spurring housing and other interest-sensitive sectors of the economy. But in testimony to Congress last month, Federal Reserve Chairman Alan Greenspan cautioned that policymakers had to be alert to the dangers from the ''storm clouds'' from Asia. Various Asian currencies plunged last year as investors became concerned that decades of super-charged growth in the region was coming to an end. The steep drop in currencies means that U.S. products are now more expensive in Asian markets while Asian goods are cheaper for Americans. For January, the U.S. deficit with South Korea, America's fifth largest export market, rose to $856 million, more than double the December level. The deficits with Indonesia and Thailand, two other countries hard hit by the crisis, were also up in January. For the newly industrialized countries of Asia, including South Korea, Hong Kong, Singapore and Taiwan, the U.S. deficit rose to $2.2 billion, the biggest imbalance since a $2.4 billion deficit in July 1990. America's deficit with Japan actually shrank in January by 14.7 percent to $4.38 billion, but the imbalance with China rose by 9.7 percent to $4.24 billion. Many experts believe this could be the year that America's deficit with China surpasses Japan, which for decades has been the country with which the United States had the biggest trade imbalances. The trade deficit for all of 1997 rose to $113.7 billion, the worst showing in nine years. If the January imbalance of $12 billion held steady for all of 1998, the deficit this year would climb to a record $144 billion. The $12 billion January deficit was the worst showing since the final quarter of 1987 when the deficit in goods and services averaged more than $12 billion per month. In goods alone, the $18.8 billion deficit was an all-time high, surpassing an $18.17 billion imbalance in January 1997. This goods deficit was offset somewhat by a $6.75 billion surplus in services, such as airline fares. The overall deficit reflected a 2.6 percent drop in U.S. exports of goods and services, which dipped to $77.28 billion, reflecting a big $1.8 billion drop in sales of American aircraft abroad. Imports were down 1 percent to $89.33 billion in January, in part reflecting a lower foreign oil bill. Energy imports dropped 13 percent to $4.81 billion with the price per barrel of crude oil dipping to $14.42, compared to $16.21 in December. o~~~ O

To: DMaA who wrote (14027)	3/19/1998 4:09:00 PM
From: David Lawrence	Read Replies (2) \| Respond to of 22053

Thought I'd pass this along.... I hear that the democrats are considering changing their emblem from a donkey to a condom because a condom stands for inflation, halts production, discourages cooperation, protects a bunch of dicks, and gives one a sense of security while screwing others. Most reasonable logic to come out of the DNC in ages.

To: DMaA who wrote (14027)	3/19/1998 10:27:00 PM
From: Moonray	Respond to of 22053

Newbridge shares fall after contract loss Thursday March 19, 5:11 pm Eastern Time TORONTO, March 19 (Reuters) - Newbridge Networks Corp [NYSE:NN - news] shares tumbled after the company failed to win a contract with Deutsche Telekom AG (NYSE:DT - news; DTEG.F), the world's third-largest telecommunications carrier. The stock fell to a low of C$37.80 from yesterday's close of C$40.85 before partly recovering to trade C$1.20 lower at C$39.65 in turnover of 552,604 shares. On New York, the stock fell to US$27 before recovering to 11/16 lower at 28-1/16. ''This is bad for Newbridge. Given their close relationship with Siemens, Deutsche Telecom was probably assumed to be in Newbridge and Siemens' back pocket,'' said Duncan Stewart, portfolio manager at Tera Capital. Deutsche made the asynchronous transfer mode equipment resale and distribution deal instead with FORE Systems Inc (FORE - news), which comes as a heavy blow to Newbridge's concentrated efforts to boost ATM development. Now analysts are again raising red flags about the future of Newbridge stock. ''Those who want to live for volatility for all means partake in buying this stock,'' said Richard Woo, an analyst with Thomson Kernaghan & Co. ''But it's not for those who want to sleep a little better at night.'' The announcement follows three consecutive disappointing quarter results, and three months before fourth quarter results are in. ''If you're a husband and he cheats on you three straight times, how would you feel?'' said Woo. ''Some people are investing their life savings in this. I would like to see some very strong financial results before I am positive about this stock.'' With Lucent Technologies Inc (LU - news), Northern Telecom Ltd (NYSE:NT - news; NTL.TO - news) and Cisco Systems Inc (CSCO - news) all bidding on the same accounts, Woo said that ''anything could happen.'' ''It's very competitive out there and the pie is only so big,'' said Woo, adding that an excess of employees was detrimental to revenue figures. o~~~ O

To: DMaA who wrote (14027)	3/19/1998 11:37:00 PM
From: Moonray	Read Replies (1) \| Respond to of 22053

NFL Commissioner Okays Vikings Sale Thursday March 19 8:19 PM EST NEW YORK (Reuters) - The commissioner of the National Football League gave the go-ahead Thursday for the sale of the Minnesota Vikings to best-selling author Tom Clancy, handing a defeat to the team's president who wanted to make a counter-bid. The $200 million sale still must be approved by 23 of the league's 30 clubs, the NFL said in a statement. dailynews.yahoo.com No indication whether Harrison Ford will play quarterback.<g> o~~~ O