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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: j g cordes who wrote (14352)	3/8/1999 8:40:00 PM
From: Sergio H	Respond to of 29382

I just found it curious that the Argentinan deal at a slight premium was more attractive than the Peruvian deal at a discount. Argentina has never been know for political stability, so that wasn't an influencing factor for HM's decision, IMO. Nice finish on the day for IDTC....on the high of the day. Amigo Sergio

To: j g cordes who wrote (14352)	3/10/1999 8:12:00 AM
From: Sergio H	Read Replies (1) \| Respond to of 29382

Jim, any thought on steel: Wall Street Journal and Dow Jones Newswires in Chinese March 10, 1999 House Is Expected to Approve A Bill Limiting Steel Imports By JEFFREY TAYLOR Staff Reporter of THE WALL STREET JOURNAL WASHINGTON -- The House is expected next week to approve a bill limiting steel imports, putting pressure on the Clinton administration to take further action to curb dumping of foreign steel on U.S. markets. The bill, a compromise of measures crafted by Democratic and Republican lawmakers, was cleared by House Speaker Dennis Hastert (R., Ill.) with strong support from steel-state lawmakers and others. The administration is likely to oppose the bill, and Mr. Hastert himself is expected to vote against it "because he opposes protectionism," says the speaker's spokesman, John Feehery. If he had tried to block the measure, Mr. Hastert risked losing a procedural vote sponsored by the steel-state lawmakers to force consideration of the bill. "The House is going to work its will one way or the other, and we might as well give them a vote rather than making them jump through a bunch of hoops," Mr. Feehery said. Toll on the U.S. Industry Foreign steelmakers selling their products here at below-market prices have taken a harsh toll on the U.S. steel industry, leading to layoffs of thousands of American steelworkers and helping to push three steel companies into bankruptcy proceedings since July 1997. The Commerce Department last month announced antidumping duties that would punish Japan and Brazil, and it negotiated an agreement with Russia limiting imports of its steel. Going beyond that, many administration officials believe, would unnecessarily harm the fragile economies of these countries. Clinton officials, including U.S. Trade Representative Charlene Barshefsky and Commerce Secretary William Daley, are likely to oppose any wide-ranging bill to limit steel imports. They note that steel imports have declined this year compared with the same period in 1998. The compromise bill is expected to be considered by the House Ways and Means Committee Wednesday. The panel, which is dominated by members opposed to protectionism, is likely to give the measure an unfavorable recommendation, but Mr. Hastert has pledged to pass it out of the committee anyway and bring the bill to a floor vote, possibly Tuesday. The compromise measure, so far, has support from more than 160 House members. Portions drafted by Rep. Peter Visclosky (D., Ind.) would limit steel imports over the next three years to 25% of U.S. consumption. A Monitoring System These provisions have been merged with parts of a bill drafted by Rep. Ralph Regula (R., Ohio) that would create a system to monitor steel imports by tracking applications for import licenses. This is intended to provide an early-warning system that would alert U.S. trade officials when foreign steelmakers may be planning to dump their inventories here at below market prices. "I believe the bill will pass" the House, Mr. Regula said. "It has broad bipartisan support and also support from unions and managers of companies hurt by the dumping." "It's a very urgent situation," said Mr. Visclosky. "Under the most conservative estimates, 13 steelworkers a day have lost their jobs since July 1, 1997." If approved, the bill would move to the Senate, where its prospects are uncertain. Republican Sen. Arlen Specter of Pennsylvania is sponsoring a bill similar to Rep. Regula's, and Democratic Sen. John Rockefeller of West Virginia is pushing a measure similar to Rep. Visclosky's. But it isn't clear that those measures enjoy broad support in the Senate, and Rep. Regula said he expects the House bill, if it survives in the Senate, to be changed.