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Technology Stocks : Seagate Technology -- Ignore unavailable to you. Want to Upgrade?

To: David Jones who wrote (6107)	10/28/1998 2:00:00 PM
From: DJBEINO	Respond to of 7841

Seagate to Cut Jobs in Scotland as Chip Plant Closes (Update1) Bloomberg News October 27, 1998, 12:06 p.m. PT Livingston, Scotland, Oct. 27 (Bloomberg) -- Seagate Technology Inc., the world's largest independent maker of computer disk drives, said it plans to close its semiconductor factory in Livingston, Scotland, next year, eliminating 262 jobs, to concentrate on its primary business. Seagate said it has failed to find a buyer for the 75,000- square-foot factory, located about 10 miles east of Edinburgh, after putting it up for sale earlier this month. The company said it will close the factory no earlier than Feb. 4 if no buyer is found. The plant designs and makes chips that are used in Seagate's hard drives, which store information in computers. The factory in Scotland is Seagate's only semiconductor plant, and the company said it will buy its chips from other manufacturers once the factory closes. It has two Northern Ireland factories that make other disk-drive parts and plants in Asia that assemble hard drives. ''We do not consider that microchips are a key enabling technology for a disk drive company like Seagate,'' said Ian O'Leary, a company spokesman. Scotts Valley, California-based Seagate has about 86,000 employees worldwide, with about 3,100 in Europe and 12,000 in the U.S. It reported a loss of $530 million for the year ended in July. Seagate rose 1/8 to 24 1/8 in midafternoon trading. British Broadcasting Corp. reported the planned closing earlier today.

To: David Jones who wrote (6107)	10/28/1998 2:33:00 PM
From: William Epstein	Read Replies (1) \| Respond to of 7841

David Jones; We are all juniors here and groping or we would be very rich and not crabbing. All I can do is reiterate that the specialist is shorting. The why of it is speculation on my part and I don't purport to represent that as a fact. However, I might point out that substantial short interest accumulation, in the volume that would interest a specialist, takes some time. If he tried to do it all at once he might tip his hand. That is the reason for all the stealth. It's like poker. When he has enough shorts (whenever that may be) he will make his move. You can be sure of it. He is not doing this for his amusement. There is a lot of money on the line. Another fact, 80% of all short interest is generated by specialists. So when we see a substantial change in short interest, up or down, the specialist has to be the main participant. Check bigcharts.com PHOTOMAN/William Epstein