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To: Thomas G. Busillo who wrote (35707)	6/25/1998 12:35:00 AM
From: DJBEINO	Respond to of 53903

Taiwan wafer makers reportedly to cut 1998 investments by 68 bln twd TAIPEI (AFX-ASIA) - About seven semiconductor makers plan to cut purchases of equipment by 68 bln twd this year amid an uncertain industry outlook, the Commercial Times reported. The newspaper said Taiwan Semiconductor Manufacturing Co Ltd this year will cut equipment purchase to 900 mln usd from 1.3 bln and will reduce by another 500 mln next year. It said Nan Ya Technology will lower investments by 11 bln twd this year, UMC group by 8 bln, Mosel Vitelic unit ProMOS Technologies Inc by 20 bln, Macronix International Co Ltd by 8 bln, Powerchip Semiconductor Corp by 3-4 bln, and Vanguard International Semiconductor Corp by 3-5 bln. Winbond Electronics Corp plans no adjustment in investments this year, the newspaper said. The wild card Taiwan is finally getting it....

To: Thomas G. Busillo who wrote (35707)	6/25/1998 2:03:00 AM
From: Dave Gahm	Read Replies (1) \| Respond to of 53903

Tom, It was a pretty amazing article, but I think he's just trying to be like JJC, who can crank out some doozies from time to time himself. I view TSC as a market brainstorming session with lots of different perspectives flying around, some well reasoned, but many way out in left field. As such it can give you a pretty good feel for what's driving the market at any particular time. Greenberg seems to be the only consistently grounded voice in the bunch, but then I tend to be an analytical sort of fellow with a rather quaint old-fashioned appreciation for fundamentals and rational valuations <g>. Regards, Dave