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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Gregg Powers who wrote (10934)	5/28/1998 10:43:00 AM
From: Jeff Vayda	Read Replies (1) \| Respond to of 152472

Gregg Thank you for that analysis. You state that current market methods value cellular operators wrt 'pops' they have access to, what would be the valuation of the Q spinoff if it was viewed as a (Mexican) "cellular" business. If the new Q entity will act as an infrastructure play, I see large opportunities worldwide. As a final comment you stated Mr. White would not want to spent time on a sinking ship. If I am reading this companies creation and opportunity correctly, the possibility exists for it to become a global telecom player. The majority of people do not currently have copper line telephone access. The economies of wireless buildout are such that once a critical mass is reached, things can really take off. I think Mr. White has this in mind. If sufficient energies are applied, the CDMA rollout can be greatly enhanced. He seems to be confident enough in the maturity of the technological development to redirect his energies to its deployment. Jeff Vayda

To: Gregg Powers who wrote (10934)	5/28/1998 12:45:00 PM
From: JMD	Read Replies (2) \| Respond to of 152472

Gregg, that was a really cool post my man--thanks muchly. Have two questions, one narrow and micro; one broad and macro. 1) what causes this spin-off to be a taxable transaction? My MBA is rusty, and I was always playing 9-ball during accounting classes anyway. Why couldn't it be a tax free spin and we all just reduce our cost basis in the "Old Q" by the deemed value of the shares received in the "New Q"? Was this how the Lucent spin from T was handled? Sorry to bother you--I just sent all my tax crap to deep storage and don't have my fingers on the LU shares I got in that deal. 2) Is there a 'human' dimension to this deal? I gather that Mssrs. White and Jacobs are, shall we say, robust individuals. Maybe too much firepower in the Office of the C.E.O.? Now Mr. White gets to run his own show? I realize that "earnings visibility" which was the burden of your post is one of the real drivers here and posted as much last evening. Still if the transaction also affords Mr. White more roaming room, seems like it rings the bell on two counts. Thanks again for your comments. Mike Doyle