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To: Ms. X who wrote (6888)	9/7/1998 11:04:00 AM
From: flickerful	Respond to of 34808

Yeltsin, Communists unmoved over premiership (Adds Yastrzhembsky briefing, EU delegation) Monday September 7, 8:55 am Eastern Time By Irina Demchenko MOSCOW, Sept 7 (Reuters) - President Boris Yeltsin and his Communist foes stuck to their guns on Monday at crisis talks over who should be Russia's prime minister, increasing the danger of a showdown in which parliament could be dissolved. Yeltsin, desperate to win parliamentary approval for his candidate Viktor Chernomyrdin as the economy disintegrates, offered to review the situation in six to eight months if the State Duma lower house approved his choice of premier in a vote due later on Monday. But the Communists, the Duma's biggest faction, reiterated their opposition and said they would press for an open vote on his candidacy -- a move that would reduce his chances of approval because it allows parties to keep members in line. ''There is probably no candidate with as much experience of running the country as Chernomyrdin, so he (Yeltsin) suggested to deputies they vote for Viktor Chernomyrdin today,'' Kremlin spokesman Sergei Yastrzhembsky told reporters after Yeltsin and the parliamentarians had ended their talks. ''The president also proposed a sort of trial period of six to eight months to review the government's performance and then see whether it has coped with its tasks under the new prime minister,'' Yastrzhembsky added. Yeltsin's foes want the president to nominate another candidate, possibly Moscow Mayor Yuri Luzhkov or acting Foreign Minister Yevgeny Primakov, to head a new cabinet to start tackling Russia's deepening economic mayhem. ''We shall vote openly and solidly against the candidacy of Chernomyrdin,'' said Communist Party chief Gennady Zyuganov. Putting a brave face on a crisis that has rattled world financial markets and politically weakened him, Yeltsin expressed optimism about Russia's ability to improve things. ''I am absolutely certain that we shall succeed in correcting the (economic) situation,'' Yeltsin told delegates attending a session of international parliamentarians in the Kremlin during a break in his negotiations with the Russian politicians. The stakes are high. Yeltsin must dissolve the Duma if it rejects his candidate or candidates three times, plunging Russia into deeper political chaos as it tries to end an acute economic crisis in which the rouble has sunk and inflation has soared. Itar-Tass news agency said Central Bank Chairman Sergei Dubinin had submitted a letter of resignation to Yeltsin due to the failure of the Duma to pass laws aimed at shielding ordinary people from the crisis, including protecting their savings. Asked if Yeltsin was aware of Dubinin's resignation, Yastrzhembksy said: ''Of course he knows. The president said this decision should have been taken earlier.'' According to Russian law, if Yeltsin receives a resignation request from the central bank chief, he must then send his recommendation on the position to the Duma for consideration. Dubinin, well respected by the Western financial community, has come under fire from Chernomyrdin and other Russian politicians for his handling of the latest crisis that has seen the rouble lose more than half its value in a matter of weeks. Exchange bureaux in the Russian capital are offering a rate of 18 to 20 roubles to the dollar. A month ago, before the last government let the rouble float more freely, one dollar bought little more than six roubles. Acting Deputy Prime Minister Boris Fyodorov, in charge of drawing up an economic crisis plan, said on Monday the rouble was sliding because of psychological factors and not because of an issue of new money by the authorities. He said any budget payments would be backed by a doubling of foreign currency reserves and there was no question of simply printing roubles. Taking such a course would fuel inflation and put fresh pressure on the rouble, economists say. Shops in the capital remain fairly well-stocked but certain staples such as sugar and cooking oil are growing more scarce as Muscovites clear shelves ahead of expected price rises. ''What's expecially shocking is that imported toilet paper is more expensive than caviar now,'' duty manager Lena Kapitanova told Reuters in her small store in south Moscow. On Sunday evening Chernomyrdin said it was imperative that the Duma back his candidacy and allow him to start governing. He secured only 94 votes in the 450-seat Duma last week, far short of the 226 votes he needed. If Chernomyrdin is rejected again, another ballot must be held within a week. Kremlin aides and opposition politicians have expressed fears that the prolonged political vacuum could help trigger an explosion of social unrest among angry, impoverished Russians. Those concerns are shared outside Russia, although there is no sign so far people are ready to take to the streets. U.S. Deputy Treasury Secretary Lawrence Summers said on Sunday that any decision on more funding for Russia depended on what decisions were taken in Moscow. European Union foreign ministers, meeting in Austria at the weekend, offered no extra cash or debt relief and said Russia had to prove its commitment to reforms. On Monday, Interfax quoted Russian Foreign Ministry sources as saying an EU delegation would arrive in Moscow on Thursday to discuss ways of tackling Russia's economic crisis.

To: Ms. X who wrote (6888)	9/7/1998 6:11:00 PM
From: Bull4Now	Read Replies (4) \| Respond to of 34808

Hello, Jan ; ) Looking for some advice from the PnFology crew. Cisco is an incredibly strong company and is poised to take the lead in the Voice over Anything (IP, ATM, FR) market - I don't think Lucent has a chance at the #1 spot in this market as Cisco explodes and leverages this "Killer App" (voice) for the Internet. Having expressed my bullishness for the stock, what trigger price point should an investor be looking for to sell CSCO in the event of further carnage in the market (it looks like the bullish support is at 83, would that mean simply that a break below 83 would trigger a sell) ? This would be with the intentions of buying the stock back when things turn upward again. Any thoughts ? Anyone and everyone's comments are appreciated. TIA, Mike - Still a Bull4Now