Table On-Topic Summary - 11-Oct-2002
A compilation of this board's financial/economic posts From 43490 to 43530

Post  43490  by  Iggys_T.V._Eye       OT: Oldcad, I just can't wait until this whole Gra
Post  43491  by  ttalknet2       OT: DSL Security Parable & Advice
Post  43492  by  Decomposed       OT: Table ON TOPIC SUMMARY Oct 10, 2002

Post  43493  by  clo       Reply
Jimmy Carter Wins Nobel Peace Prize!!!

He is so deserving of this award!
While he was limited as president, he has been a shining light among human beings! clo


Filed at 7:13 a.m. ET

OSLO, Norway (AP) -- Former President Carter won the Nobel Peace Prize on Friday ``for his decades of untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights.''

The Norwegian Nobel Committee cited Carter's ``vital contribution'' to the Camp David Accords between Israel and Egypt and his efforts in conflict resolution on several continents and the promotion of human rights after his presidency.

``In a situation currently marked by threats of the use of power, Carter has stood by the principles that conflicts must as far as possible be resolved through mediation and international co-operation based on international law, respect for human rights, and economic development,'' the citation said.

The award is worth $1 million.

In a statement posted on the Carter Center's Web site, the 39th president said, ``My concept of human rights has grown to include not only the rights to live in peace, but also to adequate health care, shelter, food, and to economic opportunity. I hope this award reflects a universal acceptance and even embrace of this broad-based concept of human rights.''

Earlier, he told CNN, ``When I was at the White House I was a fairly young man and I realized I would have maybe 25 more years of active life,'' adding that he decided to ``capitalize on the influence I had as the former president of the greatest nation of the world and decided to fill vacuums.''

He has said his most significant work has been through the Carter Center, an ambitious, Atlanta-based think tank and activist policy center he and wife Rosalynn founded in 1982 and which celebrates its 20th anniversary this year.

Perhaps his crowning achievement as president was the peace treaty he negotiated as president between Egyptian President Anwar Sadat and Israeli Premier Menachem Begin. Carter kept them at the Camp David presidential retreat for 13 days in 1978 to reach the accord, and Sadat and Begin shared the Nobel Peace Prize.

The Nobel committee said Carter, who was in the White House from 1977 to 1981, did not share in the prize because he was not nominated in time.

The secretive, five-member committee made its decision last week after months of secret deliberations as it sought the right message for a world still dazed by the Sept. 11, 2001, terror attacks, the war on terrorism that followed and concern about a possible U.S. military strike against Iraq.

Carter, a Democrat and former Georgia governor, rose from life as a small-town peanut farmer to the nation's presidency in 1976 after a campaign that stressed honesty in the wake of the Watergate controversy.

But he returned home after a landslide loss to Republican Ronald Reagan in 1980, his candidacy undermined by double-digit inflation, an energy crunch that forced Americans to wait in line for gasoline, and the 444-day hostage crisis in Iran.

Carter overcame the voter repudiation and has doggedly pursued a role on the world stage as a peacemaker and champion of democracy and human rights.

He helped defuse growing nuclear tensions in Korea, then helped narrowly avert a U.S. invasion of Haiti in 1994, as well as leading conflict mediation and elections monitoring efforts around the world.

``In a situation currently marked by threats of the use of power, Carter has stood by the principles that conflicts must as far as possible be resolved through mediation and international co-operation based on international law, respect for human rights, and economic development,'' the citation said.

Last year's award was shared by the United Nations and its secretary-general, Kofi Annan.

The peace prize announcement capped a week of Nobel prizes, with the awards for literature, medicine, physics, chemistry and economics already announced in Sweden's capital, Stockholm.

The Norwegian Nobel committee received a record 156 nominations -- 117 individuals and 39 groups -- by the Feb. 1 deadline. The list remains secret for 50 years, but those who nominate sometimes announce their choice.

Many known nominees, including former New York Mayor Rudolph Giuliani, reflected the 2001 terrorist attacks on the United States and their aftermath.

President Bush and British Prime Minister Tony Blair were nominated, but their chances for winning seemed doubtful at a time when they are poised to launch a military strike against Iraq.

``It should be interpreted as a criticism of the line that the current administration has taken,'' Gunnar Berge, chairman of the Nobel committee, said. ``It's a kick in the leg to all that follow the same line as the United States.''

The first Nobel Peace Prize, in 1901, honored Jean Henry Dunant, the Swiss founder of the Red Cross.

The prizes were created by Swedish industrialist Alfred Nobel in his will and always are presented on Dec. 10, the anniversary of his 1896 death.

This year's Nobels started Monday with the naming of medicine prize winners American H. Robert Horvitz and Britons Sydney Brenner and John E. Sulston for groundbreaking research into organ growth and cell death -- work that has opened new avenues for treating cancer, stroke and other diseases.

The physics award went Tuesday to Masatoshi Koshiba, of Japan, and Americans Riccardo Giacconi and Raymond Davis Jr. for using some of the most obscure particles and waves in nature to increase understanding of the universe.

On Wednesday, the economics prize went to Americans Daniel Kahneman and Vernon L. Smith for pioneering the use of psychological and experimental economics in decision-making. That same day, American John B. Fenn, Koichi Tanaka of Japan and Kurt Wuethrich of Switzerland were given the chemistry prize for making two existing lab techniques work for big molecules like proteins.

Imre Kertesz, a Hungarian who survived Auschwitz as a teenager, won the literature prize Thursday for writing that ``upholds the fragile experience of the individual against the barbaric arbitrariness of history,'' the Swedish Academy said.

Post  43494  by  clo       Reply
Lucent warns on earnings, to cut more jobs

MURRAY HILL, N.J., Oct 11 (Reuters) - Struggling
telecommunications equipment maker Lucent Technologies
said on Friday it would report a wider-than-expected fourth
quarter loss, cut an additional 10,000 jobs and take a $3
billion charge due to a decline in its pension assets.
The Murray Hill, New Jersey-based company said it expects a
fourth-quarter loss of as much as 65 cents a share. It
previously forecast a loss of 45 cents per share.
The company said that by the end of fiscal year 2003, it
expects to have 35,000 employees, about 10,000 less than it
expects to employ by the end of this year
Lucent said it would record a charge of about $3 billion
due to a decline in its pension assets,
primarily as a result
of declines in the stock market.
(( -- New York Equities Desk 646-223-6000 ))
*** end of story ***

Post  43495  by  oldCADuser       OT: You know,...
Post  43496  by  clo       OT:Revolving-Door Monsters
Post  43497  by  oldCADuser       OT: Thank you for a thoughtful reply to an issue t
Post  43498  by  pacemakernj       OT: Maldinero, I assure you if I could I would go
Post  43499  by  pacemakernj       OT: Iggys, I thought Simon was down 20 points to D
Post  43500  by  danking_70       OT: Talk about a Negative Campaign Ad.

Post  43501  by  danking_70       Reply
Iraqi-Canadians want an invasion

'Regime has got to go'

Stewart Bell
National Post

Wednesday, October 09, 2002

TORONTO -Iraqi-Canadians are urging the government to toughen its "wishy-washy" policy on Iraq and throw its support behind the American-led campaign to end the dictatorship of Saddam Hussein.

"This regime has got to go," said Haithem Al-Hussani, a spokesman for the Iraqi-Canadian Coordinating Committee, a Toronto-based alliance of eight groups representing Muslims, Kurds and other Iraqi exiles.

"We have an outlaw regime such as in Iraq that is not a legitimate regime. This is not a regime that lives up to the standards of Canadian society in terms of the respect for life. This needs to be stood up to.

"So the Canadian government needs to take a firm position."

Those exiled from Iraq by the Saddam regime are staging a series of rallies this week -- including a Toronto speech by Iraq's opposition leader -- to push for international intervention to topple Saddam.

Canada has urged Iraq to allow United Nations weapons inspectors to return to work in Baghdad but is against unilateral U.S. military action against Saddam and opposes the removal of the dictator. Ottawa's policy comes despite the pleas of Iraqis and evidence amassed by Canada's intelligence service warning that Saddam has been developing nuclear and chemical weapons and long-range missiles.

At the same time, Liberal MPs and a group of Canadian celebrities have come out against a war with Iraq, arguing it would be immoral and that there is no evidence indicating that Saddam is developing weapons of mass destruction.

A Toronto man, an Iraqi-Canadian who said his family in Iraq would be harmed if his name were published, said he too was against war with Iraq -- until he returned to his home country a few months ago.

After seeing how Saddam had diverted money to lavish palaces, empty mosques and weapons while the Iraqi people go without food, water, schools and hospitals, he said he now wants Canada to support a war to oust the regime.

"I was against doing anything against my country but I am with it now. Let [Iraqis] suffer for a few months, but they will be living like humans for the rest of their lives."

The man said his recent voyage to his family home in Basra was an eye-opener: There was no water, industrial buildings were collapsing from decay and Saddam's security services controlled every facet of life. "Everybody they are, believe me, against Saddam," the man said. "My family, I had a big family there, all of them are against Saddam.

"I said, 'Then why are you cheering him on the TV?' They said, 'Every day there is an event or something there, they knock door by door, take the people, the families, from houses to participate in this cheering, or election or whatever, by force.'

"If you are not going you are on the blacklist. If you are on the blacklist, your son or your daughter or your wife will disappear. Or you are going to lose your job. Iraq is the worst country in the Middle East."

He said the "regime change" advocated by the White House does not have to come in the form of assassination. Canada could play a role by convincing Saddam to leave voluntarily and seek political asylum abroad, he said. "They have to get rid of him. I know they could do it easy, any time they want really."

Mr. Al-Hussani said those who oppose war with Iraq on the grounds that civilians would be killed fail to understand that people are already dying due to Saddam's misrule. "In any war situation there must be some innocents that will die but the thing is in Iraq, as we speak, innocents are dying, and I'm talking in thousands."

Iraqi exiles are holding demonstrations this week to press for international assistance to remove Saddam from power. Dr. Ahmed Chalabi, the exiled Iraqi opposition leader, is scheduled to speak at an anti-Saddam rally at the Scarborough Civic Centre on Saturday.

Last week, Bill Graham, the Minister of Foreign Affairs, said a U.S. war on Iraq would undermine the UN system. Liberal MPs also sided with Iraq last week, comparing George W. Bush, the U.S. President, to Hitler.

TONIGHT: Their faces will remain hidden. But the feelings of Canadians with an Iraqi background will be exposed. Learn why they fear that Saddam's long arm of terror extends to our country. Tonight on Global National;

Post  43502  by  clo       Reply
Consumer confidence: Oct. 80.4 while Sept. was 86.10... clo

Post  43503  by  nvrgivup       Reply
pacemakernj: Have you noticed MIMS today? They lowered guidance this morning from 2002 estimates of .90/share to estimates of .74 to .76/share. MIMS has dropped to 5.50 which gives it a p/e of about 7.3 at the current price. Do you think it would make sense to buy now?
Regards, nvr

Post  43504  by  lkorrow       Reply
pmcw, thanks for the HLIT update, wish I bought some two days ago!

Some additional info. from Skyreport on the EchoStar/DirectTV proposed merger. Seems like wishful thinking at this point . . .

DBS Merger Fight Not Over Yet

Sure, the Federal Communications Commission decided
on Thursday to block the proposed merger between
EchoStar and DirecTV. But both merger opponents
and proponents, opportunists and the regulators
themselves said they know the battle over the
multi-billion-dollar deal isn't finished.

At issue is a 30-day period the Commission gave
the companies to come up with revisions for their
merger proposal. While saying they were
disappointed with the decision, the companies
involved issued a joint statement saying they
will continue to "work aggressively within the
context of this FCC process to achieve approval
of the merger."

FCC Commissioner Kevin Martin talked about the
30 days the companies have to amend their
application to include major revisions, which
could include divestiture of orbital locations.
"This idea is interesting, but the applicants
have made no such proposal," Martin said.

"If the applicants were to request such a
structural remedy, it could merit further review
as to its technical and economic feasibility.
Failing to fully explore such options could be a
missed opportunity to bring more competitive
choices to consumers," Martin said.

Charles Dolan, CEO of Cablevision, which wants
to take control of the 61.5-degree DBS orbital
location it shares with EchoStar, said the FCC
decision "provides an opportunity for a
restructured plan that will expand competition
among facilities-based providers. The divestiture
of spectrum we have proposed is a reasonable
structural remedy that will not only answer
concerns about reduced competition, but also
will result in more satellite viewers receiving
local programming from multiple sources in
markets nationwide."

FCC Merger Complaint: Bad for Competition

Those in charge at the Federal Communications
Commission were for the most part united in
their opposition to the proposed merger between
EchoStar and DirecTV, with all four
commissioners voting against the deal.

Specifically, the FCC declined to approve the
transfer of licenses from EchoStar and Hughes
Electronics, which controls DirecTV, to the
merged entity. The FCC order also designated
the application for a full evidentiary hearing
before an Administrative Law Judge.

The FCC ruled that there was a likelihood the
merger would harm competition in the multichannel
video program distribution (MVPD) market, and
that outweighed any benefits. Their biggest
complaints about the merger: the elimination
of an existing viable competitor in every
market, the potential for higher prices and
lower service quality, and the possible negative
impacts on future innovation.

Said FCC Chairman Michael Powell, "The combination
of EchoStar and DirecTV would have us replace a
vibrant competitive market with a regulated monopoly.
This flies in the face of three decades of
communications policy that has sought ways to
eliminate the need for regulation by fostering
greater competition. I decline the invitation
to turn our national communications policy back
so many years."

Commissioner Kathleen Abernathy said business
combinations in the multichannel market can be
pro-consumer, "and it would be a mistake to equate
bigness with badness," she said. However, "Our
task is to review only the application in front
of us and to weigh the potential benefits against
the threats to competition. On this record, I am
forced to conclude that the public interest would
not be served by granting the application,"
Abernathy said.

Rural interests had a lot of complaints about the
deal, Commissioner Michael Copps said. "Furthermore,
it would be an enormous risk to approve a transaction
that results, at best, in the merger of a duopoly
into a monopoly in a critical sector of multichannel
video programming," he said.

Post  43505  by  lkorrow       Reply
Pace, surprise today, gold stocks up with the market, which is up in spite of bad consumer data. But that consumer data was anticipated, so we're back in the mode that meeting expectations, however bad, is a good thing. Well, I'd rather see green than red. Gold flat, dollar edging up, FRB Open Market Operations up the last two days, no surprise there. Same ole, same ole. Good luck with your INTC! Still catching up on 500 msgs.

Post  43506  by  danking_70       OT: Boat fragments, TNT residue found on French ta

Post  43507  by  pmcw       Reply
lk, Thanks for providing the update. I had read it this morning, but I'm sure many have not.

I absolutely can't believe how stupid the FCC is about this issue. Geez, just strike a deal where they have to sell in rural areas at the same average price of the closest competitive area. No brainer! This crap about selling space on the satellite is BS and does nothing for those they say they want to protect.

Right now the smart money knows that there will be a resolution in about a month and they also know that together or apart, the companies (company) will spend a boat load of money. Remember, this is only one side of HLIT. Take a look at what is going on in the VoD market and the flow of Ethernet towards our doors. 2003 should be one heck of a good year for this little company.

There is a lot of emotion in the HLIT price so you might just hold back and see if you can get some around $1.25. Remember when they warned about Q3 I said I would re-notch my program to start at $1.20 and be ready to go down to $0.90. Well, I'm pretty happy right now, but I would love for it to complete the trip so I can buy more.

Regards, pmcw

Post  43508  by  PinzaTodd       OT maldinero re: patriotism

Post  43509  by  lkorrow       Reply
Art Cashin says the feeling is this is probably a short covering rally . . .

Post  43510  by  Czechsinthemail       OT: danking
Post  43511  by  Decomposed       ot: Czechsinthemail,

Post  43512  by  PinzaTodd       Reply
What do I know?

I just sold (or placed orders to sell) covered calls on virtually everything I own. I don't think this market has experienced enough pain yet, and I also don't think enough suckers are biting on one-day rallies any longer, which is why my paranoid self thinks we're having a two-day rally.

Who knows, the rally might just go longer, and it might even be for real. But I'm betting it isn't. And all this volatility scares me, frankly. But what do I know?

Buona fortuna

Post  43513  by  pmcw       Reply
PT, If you want to buy some additional insurance, you might consider using a part of the call money to buy some puts either on the stocks you own or in the sector you are holding. Regards, pmcw

Post  43514  by  maniati       OT: My Left Foot
Post  43515  by  danking_70       OT: Czech

Post  43516  by  PinzaTodd       Reply
pmcw: I don't do

... anything other than selling covered calls and buying and selling equities in this vehicle, which has been and remains extremely conservative, and as a result has suffered rather less than a lot of others, though it grew less in the bubble days, too, back when others were managing it.

My primary speculative portfolio is about even for the year, by the way, though not from trading options, but rather from going into and out of long positions at uncannily opportune times (at least that's how it's worked out so far this year, knock on wood).

I could sell some of the stocks outright, too, but several have been held for 40+ years, so I am reluctant to do so, largely for sentimental reasons, but also because I continue to feel they're good companies at their core, obviously blue chips, and will bounce once this whole correction from heck has run its course. Plus, these have had some very nice gains over the years, and selling would incur a rather large tax liability.

I don't buy uncovered puts or calls on this stuff at all, largely to keep my sometimes woolly focus on conservative investing when dealing with retirement money.

Thanks for the suggestion, though.

Post  43517  by  maniati       Reply
srudek: I noticed one typo in my last post to you, though I'm sure there are more. I said, So, Friedman is also saying that central banks have "learned that the cure for inflation" is increasing the amount of demand deposits, for example. I should have said "decreasing," not "increasing."

Post  43518  by  pmcw       Reply
PT, I took your posture as conservative. Possibly you don't understand why selling a covered call is a hedge and buying a put is insurance. The hedge mitigates some risk at the price of potential reward. A call trades off some potential reward for protection from risk. Selling a call and using at least part of the money to buy a put is about the most conservative move a long term investor can make. This is the only reason I mentioned it as something to consider. One can also use the play to control taxes by spreading gains out over more than one year.

BTW, I always took you to be younger than what might be indicated by holding an equity purchased 40 years ago. If, by chance, they were inherited in an estate, the cost basis has been adjusted to the date of the person's death. Just an FYI in case it matters. Regards, pmcw

Post  43519  by  danking_70       OT: West Bank Story
Post  43520  by  StockmanI7       OT: Maniati: left foot

Post  43521  by  clo       Reply
BUENOS AIRES, Argentina, Oct 11 (Reuters) - Argentine
lawmakers on Friday dropped a drive to impeach Supreme Court
judges, helping clear a major obstacle to clinching a
long-elusive IMF aid pact to help ease a grinding recession.
After trying for weeks to debate the matter, lower house
deputies from the ruling Peronist Party won enough votes in an
all-night televised session to abandon plans to impeach the
nine judges for alleged negligent and inept legal decisions.
"We have to move the country forward ... and we can't have
the Supreme Court in an uncertain situation when the country
needs to reinsert itself in the world and negotiate with
multilateral lenders," said Peronist deputy Alejandra Oviedo.
The dropping of the impeachment threat by Congress is a
victory for caretaker President Eduardo Duhalde, who since
coming to power in January had battled to regain International
Monetary Fund support after the lending agency froze aid last
In a another boost for Duhalde, Argentine officials said on
Friday the government had crafted a draft letter of intent with
the IMF, bringing them a step closer to a long-awaited deal.
Relations with the court have been a sore point for the
government for months as the judges repeatedly struck down key
parts of Duhalde's economic plan, such as public pay cuts that
were a condition for billions of dollars in IMF aid.
Political analysts and most Argentines saw the
controversial rulings as a tool used by the judges -- many of
them appointed by Duhalde's political foe, former President
Carlos Menem -- to pressure the government to halt impeachment

The government welcomed Friday's vote.
"The government is satisfied because we are now done with
this subject," said Cabinet Chief Alfredo Atanasof. "It had
been generating a great deal of uncertainty and the country
needs stability."
The IMF has repeatedly demanded signs of political
consensus, making the Supreme Court issue one of a handful
conditions that the lender needed to be resolved before a deal
could be reached, sources close to the talks said.
"It was one of the clouds hanging over the agreement. The
IMF wanted to have some final solution to the uncertainty
regarding what the supreme court could do including maybe a
full re-dollarization," said Fernando Losada, a senior
economist at ABN-Amro in New York. "Those risks are now much
The Argentine government is trying to convince the IMF to
roll over billions of dollars in debts through 2003, allowing
it to avert a default on multilateral loans and give the
economy breathing room to recover from a four-year recession.
A default on multilateral debt would cut off Latin
America's No. 3 economy from remaining financing after the
cash-strapped government defaulted on most of its public debt
load in January.
Still polls show most Argentines see the court as corrupt
and want the members to be impeached.
"The feeling is that we lost an opportunity to give a very
strong signal to the Argentine public that we have learned from
the demand for change and for transparency," said Peronist
deputy Sergio Acevedo, head of the committee that investigated
and charged the court, after the marathon meeting that began
Wednesday evening.
Acevedo was part of a Peronist minority in favor of
impeaching the court.
((Athena Jones, Buenos Aires newsroom, +54 11 4510-2505,
*** end of story ***

Post  43522  by  clo       OT:WARNING: Krugman ahead!
Post  43523  by  Czechsinthemail       OT: I realize it may be unfair to pick on a portio

Post  43524  by  lkorrow       Reply
maniati, my thoughts are with you, et. al. Hopefully they get him or them very soon. Your torso speculation is particularly alarming in light of recent news on possible three-part al queda plan, Sept 11 being first. We have to stop them. Hopefully this is just some nut. We are on higher alert in NY now too. Linda

Post  43525  by  lkorrow       OT: Somehow I wish he were working on homeland sec

Post  43526  by  kduff       Reply
"Don't know how many of you have been following the news of this sniper who has been killing people in the DC area, but, since I live here, I can tell you that it's a big deal around here"
I can assure you, it is a very big deal everywhere. I feel it would be outrageous if the news media report the stick figure/skeleton theory. If this is one lone psycho gunning people down, he probably feels extremely clever drawing his death picture on the map. Hopefully, this will be what trips him up to be stopped in his tracks.
Hopefully, this is not the beginning of a much bigger plan.
stay safe,

Post  43527  by  tinljhtkh       OT: I havenít read

Post  43528  by  smokesignals       Reply
maniati..sniper..this morning on one of the network channels they were interviewing an attorney/violent video game expert. He was explaining that there is a cult of video games who use chat rooms as one of their means to share their gaming skills among themselves.

They play "scope" video games where they are taught how to make their "mark" in a single shot. The same type of simulation that is used by the military and law enforcement.

They progress to what they term as a "god level." And from the news I heard that the taro card left behind by the sniper was the death card. Written on the back were the words, "I am god."

Another interesting point this expert brought out was - the young sniper in Paducah, KY. was quite the master at playing these "scope" games. He had never shot a gun before that day that he took the gun to school, yet he was able to "make" all of his 8 targets with a single shot for each victim.

He also mentioned the shootings forming a pattern of a skull. The skull is the picture on the taro card of death.

Post  43529  by  jeffbas       OT: The Constitution is just as valid today as it

Post  43530  by  lkorrow       Reply
Pace, what's going on in India, companies are bailing for China? I'm surprised U. S. companies would be spending on new plant right now . . .