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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (874)	10/8/1998 9:15:00 PM
From: porcupine --''''>	Read Replies (2) \| Respond to of 1722

AT&T CORP Chairman C. Michael Armstrong said the nation's largest long distance company will meet Wall Street's earnings and revenue expectations for the 3rd and 4Q's, as well as for the full year. "We met 1Q (expectations), we met 2Q and we're going to meet 3Q and 4Q and the full year (expectations)...for earnings and revenue growth," Armstrong told reporters after a presentation at the Fall Internet World '98 conference. (Reuters 10:58 AM ET 10/08/98)

To: porcupine --''''> who wrote (874)	10/14/1998 9:27:00 PM
From: porcupine --''''>	Respond to of 1722

Ford to Produce Gearless Car Transmission By KEITH BRADSHER -- October 14, 1998 DETROIT -- Ford Motor Co. announced plans Tuesday for mass production of a new, gearless car transmission to be produced in a joint venture that could also become a new model for labor relations in the auto industry. The new transmission, which uses a system of pulleys instead of gears, allowing many subtle gradations of power to speed, improves fuel economy by 10 percent to 15 percent, Ford said. Large-scale installation of the new transmission would help Ford meet federal fuel-economy regulations in the United States and compete in foreign markets where gas prices are high and fuel economy is important to car buyers. Ford said that it would form the joint venture with ZF Friedrichshafen AG of Germany, which had patented a design for a so-called continuously variable automatic transmission. Ford will own 49 percent of the venture and ZF will own 51 percent. The two companies said they would begin installing the transmissions in 2001 model-year cars and would install a million of the new transmissions annually by 2005 at a Ford transmission factory in Ohio. The transmissions would be installed mainly in small Ford cars in the United States and abroad. But Ford also planned to sell some to other automakers overseas, said Jacques Nasser, the president of Ford's worldwide automotive operations, who will become Ford's chief executive at the end of the year. Ford's choice of a joint venture to build the new transmissions also opened the door for it to make the first use of an unusual provision in all of the Big Three's labor contracts since 1996. The provision allowed the automakers to pay lower wages in any new auto parts businesses that they enter through joint ventures. Nasser said that all current employees at the company's transmission factory in Batavia, Ohio, would remain Ford employees. But any future hires would be employees of the new joint venture, and Ford would eventually like to have a separate labor agreement at the factory, he told reporters Tuesday. Copyright 1998 The New York Times Company