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To: Carl R. who wrote (45446)	4/29/1999 12:29:00 AM
From: DJBEINO	Respond to of 53903

LG Semicon workers vote to go on strike against merger SEOUL, April 28 (AFP) - Defiant workers at South Korea's embattled LG Semicon Ltd. Wednesday rejected a job security accord with their future owner and threatened to go on a strike. The accord, sealed last week with Hyundai Eletronics Industries Co., was put to a vote at LG's main plant in the southern city of Chongju, which accounts for 70 percent of the company's total production. But 61 percent of 5,533 workers who took part in the voting turned down the accord and approved a plan to go on strike, LG officials said. "The workers appear to be asking for new negotiations," LG spokesman Lee Baek-Soo told AFP. But the workers gave no timetable on their action. Hyundai immediately expressed anger, asking LG workers to respect the accord which would speed up the merger to create one of the world's biggest microchip makers. "The accord was far better than LG's earlier suggestions. We will not make concessions any longer," a Hyundai spokesman flatly said. Under the accord, Hyundai agreed to take over all of LG Semicon's 9,000 employees, including those temporarily laid off. It also pledged no discrimination in employment, promotion and salaries, saying LG employees would not be laid off for 24 months after its acquisition which both firms said could be realized in early October. Hyundai was allowed to offer LG workers additional salaries equivalent to 10 months as severance payment, if needed. The accord came shortly after the two firms set the takeover price set at 2.56 trillion won (2.1 billion dollars) and agreed to finalize the merger by October 1. The deal has been touted as a centrepiece of South Korean plans to reform the country's debt-stricken conglomerates, blamed for contributing to a financial crisis in late 1997. LG has lost its OEM business in the US market because of protests by a strike in January. Original Equipment Manufacturers (OEM) build products for other companies which sell them under their own brandnames. The loss in the United States caused little damage to LG's overall sales. But it underlined the toughness of the deal which prompted LG to sell more of its dynamic random access memory (DRAM) chips on the spot market at lower prices. Dataquest analyst Jim Handy in Hong Kong warned that Hyundai and LG face a clash of corporate cultures in their merger. "We don't know whether one plus one is going to equal two. The biggest problem is the corporate cultures are aligned to be against each other," Handy said. "Both have good technologies. They will be able to take more than a year (to merge) without suffering negative consequences ... (but) there is extreme animosity between these two firms." Handy said LG and Hyundai have synergies in research and development, while the merged entity is likely to shed the upper layers of management, particularly from LG.

To: Carl R. who wrote (45446)	4/29/1999 8:53:00 AM
From: DavidG	Respond to of 53903

Carl, The only problem with your computer is you have too slow a chip.<g> Upgrade to a PIII and you will start getting those buy signals ahead of HAL. Should also have minimum 128mb of memory. Don't listen to those who profess less, they are clueless.<vbg> Memory is cheap so max it out...this also helps DRAM demand.:-) MU showing support around 36. This is a good time to start accumulating or trading. Short term resistance around 40. Don't hold your breath for the teens...it just ain't gonna happen.:-) Good Luck Trading DavidG