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To: Maurice Winn who wrote (13185)	7/31/1998 6:49:00 PM
From: Kenneth V. McNutt	Respond to of 152472

Maurice Don't know what happened. I tried. Put in an order at us$80.00 but did not get a fill. Sorry K

To: Maurice Winn who wrote (13185)	7/31/1998 7:09:00 PM
From: JMD	Read Replies (3) \| Respond to of 152472

******mo money******* damn Maurice, you do make it a tad challenging to dodge Madeline, Billy C., nuclear weapons, addictive drugs, tariffs, free trade and god knows what else, while simultaneously disgorging the results of my dad's hard earned dough in procuring a sheepskin in the dismal science, but hey. .. what are Friday's for? It may be productive to consider the old question about Wall Street and Main Street, proxies for the 'monetary economy' and the 'real economy', to wit: where do they intersect, how do they relate? In general, neither can get too far out ahead of the other. Consider the '29 crash. In the hours, days, and weeks immediately following the event, one could ask: what changed? Real capital in the form of office buildings, factories, steel mills were still 'there', they hadn't vaporized. So why were we less wealthy in a Real sense? Well for a while we weren't, but then the inability of the monetary economy to pump capital in to the real economy choked it to death and the real economy crumbled. Soon Real Assets were cheap and Monetary Assets were dear: a 1930 $ could 'command' a fine meal with lots of Sherry and room for a tip. In 1998 that same $ won't buy you a Wall Street Journal. So in a broad sense, you are certainly correct that holders of dollars have been penalized [their wealth has deteriorated] relative to the holders of Real Assets. Stock certificates are funny little critters since they represent an ownership share in real assets while they are nevertheless INHERENTLY worthless scraps of fancy paper and considered a form of monetary wealth. [here's where those damn cubby-holes get real squishy] So long as the perception of their proxy ownership of real assets is deemed valuable, i.e., that the underlying assets are valuable, then they are indeed in the Real Asset cubby. But when everybody thinks they're richer than Midas cause they bought Yahoo for $20/share, a funny thing happens. They start buying 2nd,3rd,and 4th homes, Rolex watches, and Ericy cell phones. Which then promptly inflate in price, which then 'temporarily' makes them worth more, but then the market takes over. As in: Real Asset sellers try to take advantage of the hyped prices and offer the goods for sale which of course reverses the whole thing and then there's a rush for the exits. Real Assets have gotten ahead of Monetary Assets. So it seems to me that what we have is the constant interplay of Main Street and Wall Street, the economists' version of Yin and Yang, and it is a never ending dance. I wouldn't throw all your monetary NZ dollars at anything cause it's only a matter of time till dough comes back into its own. Never been any different, not even with the new paradigm, rake receivers, Anita[tm], and way cool technology. Granted all of the above seem to have pushed productivity to new levels which has staved off the Real Asset inflation effect which, along with the demographics of the Baby Boom generation throwing their dough at the stock market, has resulted in one helluva of long running bull market. But it ain't repealed gravity [or Yin and Yang]. Say Hello to Madeline for me. She seems to be one very bright gal; don't be too hard on her and wing kiwi fruit and stuff or she'll tell Alan and then we'll all be in deep doo-doo. SM

To: Maurice Winn who wrote (13185)	8/1/1998 2:19:00 PM
From: 2brasil	Respond to of 152472

Brazil cdg cdma Company Press Release CDMA Development Group Announces Broad Local Support for CDMA Operators and Manufacturers in Brazil Emerging CDMA Handset Manufacturing Capabilities Marks On Important Expansion Of CDMA In South America COSTA MESA, Calif.--(BUSINESS WIRE)--July 27, 1998-- The CDMA Development Group (CDG) today announced the emergence of broad local support for code division multiple access (CDMA) technology in Brazil. The announcement comes on the eve of the long-awaited privatization of TELEBRAS, the Brazilian telephone monopoly, and heralds a significant expansion of CDMA in Latin America. ''The growing presence of CDMA operators and manufacturers in Brazil is a testament to the continuing success of the technology,'' said Perry LaForge, executive director of the CDG. ''We expect the CDMA presence in Brazil to continue to expand as the privatization effort continues. Along with Japan, Brazil represents one of the key drivers for CDMA growth during the second half of 1998 and on into next year.'' CDMA is widely recognized to be the most advanced wireless telephone technology available today. It provides consumers with a number of important benefits such as superior voice quality, exceptional privacy and security, increased reliability, and longer talk and standby times. The CDMA presence emerging in Brazil represents the strong commitment by the worlds leading telecommunications companies to support current and future CDMA services throughout the country. CDMA manufacturers have invested more than US $250 million to date in Brazil, which is the largest wireless market in South America. The expanding CDMA presence in Brazil includes both wireless service providers and equipment manufacturers. A CDMA cellular network has entered commercial service in Salvador, the capital of the state of Bahia, and the launch of commercial service is expected in Rio de Janeiro and Sao Paulo during the third quarter of 1998. In Region 5 of the B-band, which includes the states of Parana and Santa Catarina, the Global Telecom consortium will establish CDMA cellular service later this year. Further CDMA deployments are expected to occur after the conclusion of the TELEBRAS privatization. Local CDMA manufacturing capabilities are accelerating to meet the requirements of CDMA service providers. World-leading telecom manufacturers have well-established facilities for building CDMA base stations in Brazil, but the main area of growth in manufacturing is in CDMA handsets, where at least three of the leading vendors will inaugurate CDMA handset production facilities in 1998. It is expected that CDMA handset manufacturing capacity will reach 1.2 million units per year within as little as six months, thereby providing operators with a vast supply of locally produced CDMA phones. Members of the CDG will assemble in Sao Paulo on August 18-19, 1998 for the CDMA Latin American Forum. This invitation-only event will provide a comprehensive update on the progress of CDMA in Brazil and worldwide. Executives from CDMA service providers throughout the region will discuss the deployment and operation of CDMA cellular, PCS and Wireless Local Loop networks. Workshops on CDMA network deployment and roaming will also be offered. The CDMA Development Group is a non-profit trade association formed to foster the worldwide development, implementation and use of cdmaOne. The 100 member companies of the CDG include many of the world's largest wireless operators and equipment manufacturers. The primary activities of the CDG include development of cdmaOne features and services, public relations, education and seminars, regulatory affairs and international support. Currently, there are more than 500 individuals working within various CDG subcommittees on cdmaOne- related matters. For more information about the CDG, contact Christine Bock of the CDG News Bureau at +1-714-540-1030, ext. 11, e-mail chrisbock@bockpr.com, or visit the CDG Web site at cdg.org.