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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: George A. Roberts who wrote (760)	9/16/1998 11:39:00 AM
From: Kenneth E. Phillipps	Respond to of 14638

Article from Computer Reseller News Nortel Layoffs Won't Impact Bay Networks (09/15/98; 5:09 p.m. ET) By Kimberly Caisse, Computer Reseller News The impact of eliminating about 3,500 jobs at Nortel will not be felt at its Bay Networks business, a spokesman said. Toronto-based Nortel (company profile) said it plans to cut about 4 percent of its global work force as it reshapes itself to sell more Internet-based products in addition to its telecommunications products. The purchase of Bay (company profile) Aug. 31 for $6.7 million is part of that strategy. Nortel merged its Enterprise Data Networks division with Bay earlier this month to form the Bay line of business, which is still based in Santa Clara, Calif. "The fact they are not cutting people at Bay suggests that is where they see a big part of their growth coming from in the future," said Jeff Matthews, general partner of Ram Partners, a Greenwich, Conn., fund. Nortel CEO John Roth said earlier this month the company's strategy is to grow its data-networking business because of the expected 30 percent annual growth rate of the data-networks market, compared with the projected 3 percent yearly growth rate for voice-networking products. Nortel [NT] has declined to say when the jobs would be eliminated. Nortel shares were down 5 percent in midafternoon trading to $43.87, hovering near its 52-week low of $39.68.

To: George A. Roberts who wrote (760)	9/16/1998 12:27:00 PM
From: Ken Twining	Read Replies (2) \| Respond to of 14638

George: Keep your emotions together (not always an easy thing to do)! Nortel is now above 45 again and reversing the recent downtrend. When prices get so low you're about to puke and want to sell, often turns out to be the time when you should do the opposite and buy, again not easy, but that's the way it works, buy low sell high. The proceeding post is a great one explaining that Nortel's job cutting is to focus more on the newer technology with BAY. Time will tell and this is just my opinion. All the Best To NT holders!