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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (20030)	9/6/1998 10:53:00 AM
From: Jerry Olson	Respond to of 50167

IQBAL-----DID I POST THIS???????? Invest in IPOs & Venture Capital! IN BRIEF: CHIP MAKERS HUNKER DOWN By Red Herring Online Staff Red Herring Online September 4, 1998 This hasn't been a good week for the semiconductor industry. Prices continue to crash through the floor, and chipmakers are responding with plant closures, layoffs, consolidations, and production halts. On Friday, South Korea's Samsung announced that it would halt production for two weeks because of oversupply in the market. The world's largest chipmaker will stop making 16- and 64-megabit dynamic access memory [DRAM] chips until September 13, and will stop production of more advanced chips from September 13 through September 20. The move marks the fourth time since June that Samsung has ceased production in response to the chip glut. Also on Friday, Fujitsu Ltd. announced it would close a plant in England, affecting 600 workers there. Another chipmaker, Siemens AG, also closed a plant in England this July, costing the jobs of 1,100 workers. Earlier this week, Hitachi Ltd. (HIT) closed a chip plant in Irving, Texas, and laid off 500 workers there and 150 in California. And Mitsubishi Electric said it will close its assembly and testing operation in Durham, North Carolina, yielding layoffs of 230 workers. On Thursday, South Korea' s Hyundai Electronics Industries agreed in principle to merge with LG Semicon Co., to create the second-biggest chip maker in the world. The move was seen as a response to shrinking worldwide sales for both debt-ridden companies. PC makers challenge Intel on bus technology Three giant computer companies have teamed up to produce a technology that could present a serious challenge not only to their rivals in the personal computer business, but to head chipmaker Intel (INTC) as well. Compaq (CPQ), Hewlett-Packard (HWP) and IBM (IBM) have designed technology for bus circuitry (the bus links the main processor to peripherals such as hard drives) that could differ from a technology reportedly being developed by Intel, according to Wall Street Journal. The companies, the Journal says, fear that Intel's technology will be proprietary, and that Intel will charge them royalties for it. Most PCs and servers today use an open bus technology that was developed by Intel called Peripheral Component Interconnect, or PCI. The companies are hoping that Intel will sign on to the standard, called PCI-X. Intel said it will consider the standard, but it hasn't made any decisions yet, the Journal reported. Division Group buys ObjectLogic Division Group PLC of Britain has acquired ObjectLogic Inc., of San Diego for $22 million in cash and stock. Division issued $14 million in shares and paid out $4 million for the first part of the transaction. The remainder will be paid through the sale of additional shares at Division's option, or will be paid in cash. ObjectLogic develops manufacturing software, and Division makes data-access tools for interactive product design.

To: IQBAL LATIF who wrote (20030)	9/6/1998 1:33:00 PM
From: ED_L	Respond to of 50167

Sat in my brokers office for an hour last week. The brokers were all on the phone calling clients and advising them not to make any rash moves(ps. no clients were calling in to buy). They were advising clients this was all a temporary market anomaly and that things would be back to normal by the end of December. When I called Fidelity and wanted to sell some funds, the Fidelity Rep tried to talk me out of selling stock funds saying that I would only be locking in long term losses and that I should stick to my original selections (e.g.Janus Fund) if I had at least a 10 year horizon. These are not normal actions from major funds or brokers. What is happening?