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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Katherine Derbyshire who wrote (24334)	9/16/1998 12:36:00 PM
From: Ramsey Su	Read Replies (2) \| Respond to of 70976

Katherine, thread, CNBC keeps reporting MOT halting $3 billion "something" in Virginia and I have headline for same on my news server. However, I have not seen any details. Is this a new chip plant? More orders pushed out or canceled for industry? Does anyone have details? Ramsey

To: Katherine Derbyshire who wrote (24334)	9/16/1998 2:57:00 PM
From: Math Junkie	Read Replies (1) \| Respond to of 70976

The plaintiffs allege that Cymer was slow to admit that they were having quality problems, and if that's true, then I can see how they might have a case for the early part of the downturn, but when I compare charts, it seems pretty obvious that the lion's share of the damage to shareholders has been done by the Asian debacle and the general industry downturn. It's certainly hard to see how Cymer executives could have had inside information on something like that. Furthermore, the insider sales do not in themselves prove that they were trading on material, non-public information. Take a look at the San Jose Mercury News' listings of insider sales published in September of 1997, and you will see that executives of virtually all of the semiconductor equipment companies were selling in August. Most of them missed the peak by quite a bit. Stocks in the sector had reached unprecedented P/E ratios, and they would have been fools not to take some money off the table.