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Non-Tech : Dollar/yen ambush? -- Ignore unavailable to you. Want to Upgrade?

To: Bill Murphy who wrote (47)	7/6/1998 11:47:00 PM
From: JEFF CHAPMAN	Respond to of 95

If anyone wants massive amount of news on Japan, mytrack is the free software you need.... News flash: (COMTEX) B: Dollar hovers around 140 yen line in Tokyo B: Dollar hovers around 140 yen line in Tokyo TOKYO, July 7 (Kyodo) -- The U.S. dollar moved up over the 140 yen line Tuesday morning in Tokyo, but soon fell back on profit-taking. At noon, the dollar was quoted at 139.83-86 yen, up from 139.73-76 yen at 9 a.m., but down from 140.05-15 yen late Monday in New York. During the morning in Tokyo, the U.S. currency moved between 139.50 yen and 140.14 yen. Dealers said foreign exchange deals lacked luster during the morning, but the bias was to push the dollar higher in light of Japan's confusing stance on enacting permanent tax cuts to spur domestic demand. Ahead of Sunday's House of Councillors election in Japan, the dollar has been moving back and forth, depending on the political rhetoric about improving the economic situation, dealers said. ''The market is confused over what Japan intends to do,'' said Eiji Takane of Asahi Bank. The confusion is over whether Japan intends to cut taxes on a permanent basis and what kinds of revision are being planned for the tax system, dealers said. During the morning, the dollar was pushed over the 140 yen line after Finance Minister Hikaru Matsunaga confirmed that Prime Minister Ryutaro Hashimoto has not pledged permanent tax cuts, dealers said. Matsunaga said the prime minister seeks revising the tax system to make it fairer and more transparent. This came as Foreign Minister Keizo Obuchi retracted a remark of his last Saturday that Japan will cut taxes on a permanent basis. ''I hadn't checked with the prime minister and it was a misstatement,'' Obuchi reportedly said Tuesday. Dealers said there is still a feeling that Japan will announce concrete economy-stimulating measures before Hashimoto visits the United States later in the month. ''I think the basic market sentiment is that the government will at some point cut taxes on a permanent basis, which is leading to cautious support of the yen,'' a dealer at a trust bank said. Dealers said that market players are likely to refrain from aggressive yen-dollar deals ahead of the upper house election, because it appears unlikely that any politically sensitive issues will be resolved before then. The dollar was quoted at 1.8115-8118 German marks at noon in Tokyo, almost even with the 1.8105-8115 marks seen late Monday in New York. The mark was quoted at 77.15-25 yen at noon in Tokyo, down from 77.42-52 yen late Monday in Tokyo. -0- * end of story * BTW, I got this story from mytrack.com's software which is free and can be downloaded here: mytrack.com If you do sign up for this (you get Comtex newswires around the clock on markets around the world plus Marketguide reports for free, with news/quotes/ticker in 'pushed' streaming format, contests and chat), please put 'Muthavugah' in the referred by field...

To: Bill Murphy who wrote (47)	7/18/1998 3:01:00 PM
From: Bo Bob Brain	Read Replies (2) \| Respond to of 95

OFF TOPIC "Under coach Gil Dobie, Cornell had the first unbeaten and untied team in history in 1915 but only later reached its peak, with three straight undefeated clubs, (in 1921-1923 ), led by quarterback George Pfann and halfback Eddie Kaw. Pfann, later a Rhodes scholar at Oxford, a member of the staff of General George S. Patton, Jr., during World War II, and an assistant United States Attorney, ran the team with the precision of a drill sergeant while Kaw perplexed opponents with his daring running. Gloomy Gil Dobie, was a tall,spare, dour Scot who had earned his nickname with perennial, if unwarranted, pessimism. He had achieved unusual success as the head coach at the University of Washington, where he had nine unbeaten teams, and at Navy. He was a perfectionist and a demanding taskmaster who rarely flattered a player. Once, after his Washington team had trounced California 72-0, Dobie ordered his squad to run a couple of laps around the field to ensure that no one was out of shape after the easy victory. Gloomy Gil compensated for his unwinning personality with success on the field. In 33 years of coaching, he established a sterling record of 180-45-15 and piloted 14 unbeaten teams. He developed the off-tackle smash, which operated with drill-like precision. It became one of the most dreaded power plays in football and has been a model for many of today's coaches." (From " The College Game" copyright 1974 by the Bobbs-Merrill Co., Inc, and the Ridge Press, Inc. Rutledge Books Div. P 22-23.) "Because Eastern football no longer dominates college football, some detractors insist that the game survives in the region on memories alone. They do the game as well as the region a disservice, for college football is an adaptable sport, which can and should be played on all levels. From mighty Penn State and small-time power Delaware, to the tradition-rich Ivies and the school academies, to the tiniest school in the foothills of New England, Eastern football offers the game in its many different settings. As recruiting scandals and drug problems at the big schools demonstrate that bigness in college football is not always best, perhaps the critics will realize that in its diversity Eastern football has once again stolen a lead on the rest of the country." (Ibid, p 57) How fantastic for you to be part of such a great tradition.