Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (3981)	4/20/1999 4:31:00 AM
From: djane	Read Replies (1) \| Respond to of 29987

China Stumbles Toward Readiness For Year-2000 Computer Problem April 20, 1999 Associated Press BEIJING -- Bureaucratic infighting, inexperience and a lack of money are hampering China's progress in preparing for the year-2000 computer glitch, the government's top computer troubleshooter said Monday. Banking, telecommunications, civil aviation and 15 other sectors "crucial to the national economy and the people's daily life" have largely completed modifying their systems to purge them of the bug, said Zhang Qi of the Ministry of Information Industry. However, not all agencies are cooperating with each other, new millennium problems are being uncovered as old ones are solved and there is a "huge gap" in funds, Ms. Zhang said. She said foreign experts estimate China will need as much as $600 billion to fix its millennium bug problems. Ms. Zhang, who is coordinating government efforts to deal with the computer glitch, spoke at a news conference called by the State Council, or Cabinet, to assess China's readiness for the millennium and any emergencies that might ensue. Experts worry that computers, software and microchips that use only the last two digits to mark the year will mistake 2000 for 1900 and malfunction, causing vital systems to stop working. Six weeks ago, a senior CIA official told the U.S. Congress that China was slow in dealing with the problem and would likely experience disruptions in telecommunications, power and banking. Ms. Zhang said two-thirds of the national power network has been modified and 60% of the telecommunications systems are ruled Y2K-safe. The banking sector has made the most progress, having spent $605 million to upgrade all hardware and software and finish all contingency planning. China Telecom, the country's leading telecommunications operator, has updated about 90% of its equipment and expects to overhaul the rest by July 1 and focus on emergency plans during the second half of the year. The State Council has ordered that the power, telecommunications and water supply sectors give priority to correcting the computer bug, Ms. Zhang said. "No failure should occur in these areas," she said. Receive a weekly summary of the latest news about the year-2000 challenge and alerts about key stories. See the Personal Journal E-mail Setup Center for more details. Return to top of page \| Format for printing Copyright © 1999 Dow Jones & Company, Inc. All Rights Reserved.

To: djane who wrote (3981)	4/20/1999 4:38:00 AM
From: Geoff Goodfellow	Respond to of 29987

Palm is pulling a real boner with their wireless pricing for the Palm VII on the Bell South Wireless Data network[ bellsouthwd.com ]. While I highly question the demand for such a capability, given a history of non-consumer adoption[ search.nytimes.com ], there are other two-way devices/services on the Bell South Wireless Data network that are available at a flat rate, such as Wynd Communications WyndTell service[ wyndtell.com ], RIM's Blackberry solution[ blackberry.net ] and even directly from Bell South Wireless Data themselves[ bellsouthwd.com ]. Best regards, Geoff Goodfellow

To: djane who wrote (3981)	4/20/1999 4:39:00 AM
From: djane	Respond to of 29987

Staid Capital Research Plans A Developing-Markets Fund April 20, 1999 By AARON LUCCHETTI Staff Reporter of THE WALL STREET JOURNAL Capital Research & Management, the conservative manager of the American Funds, prides itself in being slow to introduce new investment products, especially volatile ones. So it comes as a surprise to some that Capital, the third-largest fund firm behind Fidelity Investments and Vanguard Group, is ready to sell a new product this week. In emerging markets, no less. Next month, the unit of closely held Capital Group Cos., is expected to open New World Fund, its first portfolio focusing on developing markets. The decision to open the fund, debated within the company for years, illustrates the belief among some value-minded investors that the worst may be over for emerging markets, industry analysts say. Funds focusing on the emerging markets were battered by a series of brutal sell-offs in 1997 and 1998, but many have rebounded at least slightly so far this year. In the 12 months ended April 15, the average emerging-market fund lost a harrowing 22%, according to Lipper Inc. of Summit, N.J. But since the beginning of the year, emerging-market funds are up an average of 14.87%. Enter Capital Research, which has introduced only five funds since 1990, compared with more than 50 new products at Vanguard and more than 75 at Fidelity. "We want to take advantage of the growth potential we see in developing markets," says Chuck Freadhoff, a spokesman for Capital Research. Capital is known for risk controls and an old-fashioned investment approach that emphasizes earnings growth and dividend income. New World, he acknowledges, "is a more aggressive fund for us." While Capital may be a rookie in emerging economies, the company long has been a major player in more mature economies around the world. "They've been one of the best investors in the international arena," says William Dougherty, a financial consultant with Kanon Bloch Carre in Boston. "It's significant," he adds, that "they think the timing isn't bad to start. They probably feel more comfortable about it than they did a year ago." Brokers and other financial intermediaries who sell Capital Research's funds to investors -- for a 5.75%-of-assets fee -- have been asking for an emerging-markets product for years. But Capital chose to wait until "people understood that this could be a volatile" sector, says Mr. Freadhoff. "The market did that for us" during 1997 and 1998. Indeed, in the prospectus, Capital warns that the new fund carries unique risks. Investing in countries with developing economies involves risks "greater than those generally associated with investing in developed countries." Among them: less-developed legal and accounting systems and the possibility of instability in government. Under terms of the fund offering, investors will be able to buy shares of New World at a set price through June 17. The fund will then close to new investors and start investing the assets gathered. Assuming no glitches, the fund would reopen in September. But before committing their money, investors should note that New World won't offer a clean shot into emerging markets, says David Haywood, an analyst with Financial Research Corp., in Boston. The fund is required by its prospectus to put only 35% of assets in stocks or bonds issued in a developing economy. The rest may be put in developed-market companies that derive about 20% or more of their revenue or assets from developing countries. Developing countries on Capital's list include Argentina, Brazil, Poland, Chile, India, Indonesia, Mexico, Russia and South Africa. [Looks like G* would be a perfect investment for them. I think the Capital Group took a very large position in ASND in the high $20/low $30 range last year... Pretty shrewd operators. djane] Return to top of page \| Format for printing Copyright © 1999 Dow Jones & Company, Inc. All Rights Reserved.