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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: DavidG who wrote (45792)	5/14/1999 10:27:00 AM
From: Thomas G. Busillo	Read Replies (1) \| Respond to of 53903

FWIW, minor item in TXN 10-Q. Not at all important re:MU, but interesting. ITEM 1. Legal Proceedings. ...Approximately $300 million of grants from the Italian government to TI's former memory operations in Italy are being reviewed in the ordinary course by government auditors. TI understands that these auditors are questioning whether some of the grants were applied to purposes outside the scope of the grants. TI's deferred gain on the sale of its memory business may be reduced to the extent that any grants are determined to have been misapplied. Also, TI understands that an Italian prosecutor is conducting a criminal investigation concerning a portion of the grants relating to specified research and development activities. The company believes that the grants were obtained and used in compliance with applicable law and contractual obligations. freeedgar.com For me, it's interesting only because it's my understanding that MU didn't assume TI's obligations to the Italian govt. I had thought it was because the Italians thought as much of this management team as a certain Italian-American (i.e. Sono l'uomini senza l'honore), but perhaps it was somewhat more complex <g> Good trading, Tom