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To: Maurice Winn who wrote (13546)	8/11/1998 6:13:00 AM
From: DEER HUNTER	Respond to of 152472

OFF TOPIC.....does anyone know what happened to 'qdog'? He used to post here regularly and I have not seen him around in months. DH

To: Maurice Winn who wrote (13546)	8/11/1998 6:35:00 AM
From: 2brasil	Respond to of 152472

*****ot Japan gets more grim news on economy, yen plummets (Updates with market closings, BOJ policy board decision) By Ayumi Moriyama TOKYO, Aug 11 (Reuters) - Japan released yet another grim assessment of the state of its economy on Tuesday, and its currency hit an eight-year low against the dollar and banking shares dragged the stock market lower. ''The conditions ahead of us are harsh. I think we will have to cope with a lot of hardships before attaining a recovery,'' Economic Planning Agency (EPA) Minister Taichi Sakaiya told a news conference. In its monthly report, the EPA depicted an economy that was still limping at low levels. ''Final demand is weak due to cautious sentiment among households and businesses. This effect is also spilling over to production and employment. In short, the economy is in an exceedingly severe condition led by a prolonged slump,'' it said. Following the report, the dollar soared above 147 yen, its highest level since August 1990, on worries over battered Asian stock markets and concerns over Japan's banking sector. The Tokyo share market fell in tandem, especially banking stock, with the key 225-share Nikkei average closing down 1.40 percent, or 219.43, points, at 15,406.99. The average briefly dropped by more than two percent to as low as 15,310.59. Top government spokesman Hiromu Nonaka said Japan was strongly concerned about the yen's fall against the dollar. ''We are aware of the yen's falls in the Tokyo market today, and we are strongly worried... We are watching closely, and will take appropriate steps at the appropriate time,'' he told a news conference. Earlier in the day, the Bank of Japan (BOJ) announced a fall in the domestic wholesale price index (WPI) for July, which fell 2.2 percent from a year earlier, maintaining market fears of a deflationary spiral. And at a regular monetary policy meeting, the BOJ's Policy Board announced it had decided to leave its ultra-low interest rate policy unchanged. Ahead of the policy board meeting, BOJ Governor Masaru Hayami told ruling party officials and economic ministers who approved the EPA report that markets were nervous due to differing views about Japan's economic outlook. Hayami said some financial institutions may be having trouble raising funds in the money market, but the BOJ was working to provide ample funds to the markets and has been keeping an easy monetary policy to support the economy, an EPA official told reporters. In its report, the EPA lowered its assessment of personal consumption and employment, saying falling real wages and a high jobless rate had tightened consumers' purse strings. Housing construction and capital spending are floundering, production is on a declining trend, and corporate profits are sliding, the report said. Sakaiya said the change to the word ''slump'' from the July report's ''stagnation'' was somewhat of a downward revision, but not a big one. He said that ''slump'' -- ''teimei'' in Japanese -- was more commonly used and therefore easier to understand. He added that Japan's economy is in a more severe state than it was in the January 1993-August 1994 period when the government also described it being in a ''slump.'' An EPA official, however, said positive effects of the government's earlier stimulus package worth more than 16 trillion yen ($109 billion) remained to be seen. The EPA also said it hoped promised measures by new Prime Minister Keizo Obuchi's cabinet, such as a 10 trillion yen extra budget for this fiscal year, ending next March, and a permanent tax cut worth over six trillion yen would help boost household and business sentiment. In order to finance the promised tax cuts, Finance Minister Kiichi Miyazawa said on Tuesday he expected the government to sell some of its assets, including shares in Nippon Telegraph and Telephone Corp (NTT) . Miyazawa also said he wants to simultaneously compile the second extra budget and the initial budget for 1999/2000, starting next April, essentially meaning a 15-month budg

To: Maurice Winn who wrote (13546)	8/11/1998 7:31:00 AM
From: limtex	Read Replies (1) \| Respond to of 152472

Maurice- I've never heard of a court in an IPR dispute making comments or rulinggs about the commercial consequences of its decisions. An judge hearing an IPR issue can only decide on the ownership and infringment issues. Can you imagine what would happen in the drug industry or the soft toy industry if you could go to a judge and say that its niot fair because of what Roche or Merck or Zeneca or Disney were doing because they were virtula monopolies. Better worry about how far todays daily drop is going to be on Wall St. after the Europeans have finished their daily drops which have now increased pace to over 3% a day. At 7.00am the S&P futures are off over 20 points meaning an opening drop on the dow of over 150 points. They have just mentioned the word panic on CNBX yes you heard it PANIC in the smallet European markets. Regards, L