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To: Zeev Hed who wrote (19674)	9/19/1998 12:31:00 PM
From: Elroy Jetson	Respond to of 25960

As I recall, when we set up the Resolution Trust Corporation in 1989 to fix our banking crisis, it took about two years from that point for Consumer Confidence and economic activity to recover. Japan, of course, has additional impediments to consumer spending. In our particular case the stock market started to recover within months. But our RTC was funded to resolve all insolvent banks. The Japanese Bridge Bank, as you have suggested, falls far short of this solution. Only the largest insolvent banks will be supported.

To: Zeev Hed who wrote (19674)	9/19/1998 3:09:00 PM
From: Elroy Jetson	Respond to of 25960

Montgomery Conference "Barrons" September 19, 1998 Joseph Bronson, CFO at Applied Materials, said demand for chip-making gear continues to be hurt by a glut of memory chips, the popularity of ultracheap personal computers, and the Asian economic mess. Bronson says the supply and demand imbalance in DRAMs could be corrected sometime in the second half of 1999. However, he warned that chip demand might not ever return to its previous historical growth rate. He also noted that Applied's recent cost-cutting moves, which included some steep layoffs, had reduced its quarterly break-even point to about $600 million in sales. Applied, he says, was "drawing a line in the sand," and wouldn't make further cost cuts. Hmmm. Was Bronson effectively preparing the Street for the possibility that Applied could drop into the red? We'll see. Bronson didn't join the chorus of optimists who've been cheered by a recent uptick in the spot price for DRAMs, warning that the modest rise could simply reflect some seasonal strength as PC makers gear up for Christmas.

To: Zeev Hed who wrote (19674)	9/19/1998 5:50:00 PM
From: pat mudge	Read Replies (2) \| Respond to of 25960

I do not think that the Semi will be the first high tech to lead us out the next decline. As I mentioned to you before, companies like CCRD, CSCO, ASND and XIRC are better candidates, IMHO, for participating in a possible bounce from what I think are going to be the October's lows. I would add LU, NN, and XYLN to that list. And, if buying moves to mid and small caps, a slew of other names could be added. Some DSP players, too. TXN at the top. Later -- Pat