Fwd: a lot of Dow news Dow to Receive Nearly $5 Million From U.S. read resin

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In a message dated 9/23/2001 4:04:05 AM Central Daylight Time, ParfumGigi writes: reply's............

Yea; Right! And the next Implants will be 'Castor Oil Implants'....They'll keep trying till they get it WORSE !!!!!!!!!!!!

Castor is already an established industrial crop in countries other than the U.S. Castor oil is used in paints, coatings and specialty nylons, but in its current form cannot produce properties suitable for wide use in plastics and chemicals. Dow will work on the chemistry of the oils, and work with Castor Oil, Inc. and the WRRC to develop new castor varieties and improved agricultural technologies. God Bless America!-

& You .....

'LINDA'

I'll be sending the Dow news to my contact list, how dare they receive

a dime, when they haven't paid their liabilities to their victims!

Nope my computer isn't working properly, I'm half on the net, I'll have to

take my computer in to be fixed now. I've been without it for several

days. The process I've been through today didn't fix my poor computer,

some tech. person @ AOL managed to wipe out all of my years of documents, an AOL program + the plugs in that your modem needs to dial up your server. Call me Ms. hunt a puter that works so I can

keep tack'n the bad guys..Grrrr & Roar! I hope my computer holds out to send this to my really wonderful friends, who've understood my deep grief, and the fact I haven't been online lately. All of your emails were deeply appreciated, an I'll try to catch up soon, it's comforting to know

their are wonderful friends like you n my life.

Warmth sent from me to each of you, may you feel the comfort only God*can provide, especially when it seems the darkest. Our Lord* is Love, which means light from above, an I've felt His mercy shine down upon me many long nights lately. candle!!!!!!

LOve sent to those of you I rely on daily,

gigi

Dow to Receive Nearly $5 Million From U.S. Department of Energy To Develop Renewable Plant-Oil Technology for Plastics and Chemicals

MIDLAND, Mich., Sept. 20 /PRNewswire/ -- The Dow Chemical Company has been awarded nearly $5 million by the U.S. Department of Energy (DOE) for research on making plastics and chemicals from renewable plant oils such as castor seed oil. Details of the program, which is expected to last four years, are still being negotiated. Subject to congressional appropriations, federal government funding for the work is expected to be $4,767,770, which is 50% of the program's cost.

The project brings together Dow; Castor Oil, Inc. of Plainview, TX; and the United States Department of Agriculture's Western Regional Research Center (WRRC) of Albany, CA, to work on improving properties of plant oils so that industry can more easily substitute them for petrochemical-based raw materials.

"Success with this research will allow us to produce new products for our customers. In addition to helping meet customer needs, these products will have the advantage of being produced from a renewable, crop-based resource," said Carolyn Fritz, Global Business Director for Dow's Industrial Biotechnology Business.

The plant-oil award is among six major awards totaling $30 million from the U.S. Department of Energy (DOE) to develop process technology for the production of chemicals, plastics, materials and other products from plant matter and natural waste materials and establish university education and training programs in bioproducts. The projects address areas identified in the National Energy Plan for increasing development of bioproducts and bioenergy.

Castor is already an established industrial crop in countries other than the U.S. Castor oil is used in paints, coatings and specialty nylons, but in its current form cannot produce properties suitable for wide use in plastics and chemicals. Dow will work on the chemistry of the oils, and work with Castor Oil, Inc. and the WRRC to develop new castor varieties and improved agricultural technologies.

More information about the DOE's bioproducts initiative is available at www.oit.doe.gov/agriculture .

Dow is a leading science and technology company that provides innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of $30 billion, Dow serves customers in more than 170 countries and a wide range of markets that are vital to human progress, including food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of sustainable development, Dow and its approximately 50,000 employees seek to balance economic, environmental and social responsibilities. For more information, visit www.dow.com .

SOURCE The Dow Chemical Company

CO: Dow Chemical Company; United States Department of Energy; Castor Oil, Inc.; United States Department of Agriculture

ST: Michigan, Texas, California Slow economy stings Dow Chemical , CBS.MarketWatch.com

Last Update: 4:41 PM ET Sept. 21, 2001 MIDLAND, Mich. (CBS.MW) -- Dow Chemical said Friday that it no longer expects to meet its previous third-quarter profit outlook of 25 to 35 cents a share because the U.S. economy remains weak.

The company didn't provide a new forecast. Specifically, Dow expected an increase in demand during the month of September but that no longer looks likely, the chemical giant said.

The warning underscores profit weakness experienced lately by a number of the nation's major chemicals manufacturers.

The consensus of analysts polled by Thomson Financial/First Call forecast a profit of 25 cents a share in the period. Quarterly results are expected to be reported on Oct. 25. Shares of Midland, Mich.-based Dow closed at $29.76, up 18 cents.

August Cole is spot news editor at CBS.MarketWatch.com in Chicago

Kerr-McGee says chemicals hit by global slowdown

HOUSTON, Sept 21 (Reuters) - Oil and gas producer Kerr-McGee Corp. warned on Friday that its chemicals business has been hit hard by the global economic slowdown, resulting in a sharp decline in sales and operating margins.

The company, based in Oklahoma City, also said it expects to take one-time after-tax charges of $80 million to $85 million against its third-quarter earnings because of pipeline problems and environmental costs.

Also Friday, Dow Chemical Co., the No. 2 U.S. chemicals company, warned its third-quarter results would miss expectations as a rebound in demand it had forecast for September has failed to materialize.

Buterbaugh, vice president of investor relations at Kerr-McGee, told analysts and investors in a conference call that last week's attacks on the United States have created additional uncertainty and pressure on slowing U.S. and world economies.

"We have already begun to see evidence of this in our sales volumes for titanium dioxide during the past two weeks and (we) now expect out September volumes to be further reduced from already unseasonably low levels," he said.

Kerr-McGee is a major producer of titanium dioxide, a chemical used as a pigment in paints and other products.

Buterbaugh said third-quarter prices for the chemical were expected to be some 4 percent below second-quarter levels.

Because of the decline in sales, Kerr-McGee is currently operating its titanium dioxide plants at about 75 percent of their capacity and a further slight reduction is likely in the fourth quarter, Buterbaugh said.

Third-quarter operating margins for this business could be almost 50 percent lower than in the second quarter, he said.

Kerr-McGee expects to take a one-time after-tax charge of $30 million to $35 million against third-quarter earnings to repair or replace a North Sea crude oil pipeline and a similar charge of about $50 million to clean up some sites of former operations.

Buterbaugh said Kerr-McGee's oil and gas production is on track to meet a volume growth target of 5 percent this year, compared with 2000. Key oil and gas development projects are also moving ahead on schedule and within budget, he said.

Oil will represent 63 percent of the company's third-quarter production and natural gas about 37 percent, Buterbaugh said.

Kerr-McGee is scheduled to report third-quarter earnings on Oct. 24.

The company's stock was down 35 cents or 0.7 percent at $52.09 on Friday, in line with other U.S. oil and gas stocks which showed either moderate gains or losses.

14:39 09-21-01

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Earnings for GE 'on track'

Also: Dow Chemical, Forest Labs, Palm Inc. and more Earnings AdvisoriesAstec Industries, the Chattanooga, Tenn.-based maker of asphalt mixing equipment, warned that third-quarter results would fall short of its previous outlook for earnings of 5 to 10 cents a share. The company blamed adverse market conditions, including the general slowdown in the U.S. economy, delays in customers' capital equipment purchases and price competition. Astec expects these conditions to last through the rest of 2001. The company's stock fell 14 percent in Friday's action. CVS Corp. warned that third-quarter earnings would fall short of previous expectations, citing the negative effects of last week's tragedies on consumer confidence, which is expected to take a toll on September sales. The drug store chain now expects to report earnings of 30 to 32 cents for the quarter ending Sept. 29, compared with earlier forecasts of 35 to 37 cents a share. The company, which will discuss revised expectations for the full year when it reports third-quarter results on Oct. 30, said that it would further increase promotional spending. The stock retreated $2.78 to stand at $32.57.Dow Chemical warned that it no longer expects to meet its previous outlook that called for earnings of 25 to 35 cents a share for the third quarter due to weak overall economic conditions. Analysts polled by Thomson Financial/First Call were looking for a profit of 25 cents a share in the period. Actual results are expected on Oct. 25. The shares slipped 13 cents to $29.45 in recent dealings.Electrolux said it expects third-quarter income to be "significantly lower" than comparable results in the year-earlier period. The Sweden-based producer of home cleaning products had previously expected results to be "somewhat lower" than last year. The company attributed the revised outlook in part to higher costs related to a new line of refrigerators in the U.S. and to continued inventory reductions. U.S.-traded shares of Electrolux dropped 11.5 percent.First Midwest Bancorp said it expects to earn 53 cents a share in the third quarter, above both its previous outlook and the average estimate of analysts polled by First Call estimating a profit of 52 cents a share. The Itasca, Ill., bank holding firm attributed the strong results to continued enhancement in net interest margin. First Midwest added that it remains "very comfortable" with Wall Street expectations for earnings of 53 cents a share in the fourth quarter. Actual third-quarter results will be reported before the opening bell on Oct. 17. The stock shed 2.5 percent.Forest Laboratories reaffirmed its expectations that earnings for fiscal 2002 should increase "at least" 40 percent from the $1.18 per share registered in the fiscal year ended March 31. The updated forecast came following a recent court ruling regarding ongoing litigation surrounding Tiazac, a hypertension treatment. Shares dropped 3.8 percent to $64.96.General Electric said it's "on track" to achieve double-digit percentage earnings growth in 2001, and remains "well-positioned" to grow at that level in 2002 despite last week's terrorist attacks. "GE is built to outperform," said Jeff Immelt, GE's chairman and chief executive, at a meeting with analysts in New York. The company reported it is targeting earnings per share of $1.41 for the year, after absorbing a previously announced 4-cent-a-share reduction related to insurance losses. That target is in line with the average analyst estimate compiled by First Call. For 2002, analysts are forecasting, on average, a profit increase of 12 percent, to $1.61 a share. The stock is trading up about 2.5 percent.

Metro One Telecommunications , the Portland, Ore.-based telecom services company, reported it expects third-quarter results to come in ahead of its previous outlook. The company expects earnings of 29 to 31 cents a share in the quarter, topping Wall Street's consensus estimate for a profit of 28 cents a share. For the full year, Metro One now expects earnings of $1.07 to $1.13 a share. The company attributed the improved outlook to economies of scale. Shares fell 11 percent.ONI Systems slashed financial expectations for its third and fourth quarters, and said it would take steps to resize its business and reduce expenses. Shares slipped by almost half to $4.44. The optical networking equipment company said revenue is now expected to be $40 million to $50 million for both the third and fourth quarters, compared with prior forecasts ranging from $75 million to $80 million and from $85 million to $90 million, respectively. The company said it anticipates losing 17 to 21 cents a share in the third quarter, and doesn't expect to break even in the fourth quarter. Analysts surveyed by First Call had been forecasting, on average, losses of 4 cents a share and a penny a share, respectively. ONI added that it anticipates taking a restructuring charge of $50 million to $60 million over the second half.Palm Inc. said late Thursday that fiscal second-quarter revenue would be flat to slightly higher than in the first quarter's $214 million, while analysts had been expecting sales of $422 million. Meanwhile, the company reported first quarter sales and losses that came in above analyst forecasts. ABN-Amro followed by downgrading the stock to "hold" from "buy." Shares dropped 22 percent.SanDisk lowered third-quarter financial expectations, citing deteriorating market conditions and "severe pressure" from competition. The flash data storage products supplier said it now anticipates reporting a loss of 60 cents a share for the period, wider than its previous loss forecast of 10 to 15 cents a share. Revenue is expected to decline 35 percent sequentially, worse than the company's previous forecast calling for no change on its top line. The company added that it would continue to focus on cost reductions, which includes closing down manufacturing operations in Sunnyvale, Calif. Shares dropped 11 percent.Site reaffirmed its financial outlook for the third quarter, saying it still expects to report within a range of breakeven and a profit of 2 cents a share on revenue of between $170 million and $175 million. This estimate excludes non-recurring items. The Baltimore-based contact center firm said it continues to operate in a "very uncertain environment" that makes it hard to project future results, but it expects to provide a fourth-quarter outlook when it reports third-quarter results. The stock dropped about 8 percent. Spectrian , the Sunnyvale, Calif.-based radio frequency amplifier firm warned that second-quarter results would miss previous expectations. The company now expects to report a pro forma loss of between $11.5 million and $13 million, or 99 cents to $1.12 per share, on revenue of $18 million to $22 million. Spectrian also said that the weakness will extend into the fourth quarter, and the company's board approved the repurchase of up to $10 million worth of its common stock. Shares rose 2 cents to $7.50.Negative Surprises Contract manufacturer Jabil Circuit reported fiscal fourth-quarter net income of $11.2 million, or 6 cents a share, compared with $47.1 million, or 24 cents a share, earned during the same quarter last year. Revenue was $944 million, down from $1.1 billion during the same quarter last year. Excluding charges and one-time items, Jabil had pro forma net income of $26 million in the latest quarter. Analysts surveyed by First Call had expected earnings of 14 cents a share, on average. For the first quarter, Jabil said it expects revenue of $900 million to $950 million. And for the full fiscal year, Jabil said it should earn 75 to 80 cents a share on revenue of $4.5 billion to $5 billion. Shares added almost 5 percent.Positive SurprisesShares of Stanley added 5 percent after the company posted third-quarter earnings of $735 million, or 65 cents per share. This was down sharply from $1.2 billion, or $1.09 per share in the year-ago period but beat the consensus forecast for earnings of 64 cents per share as derived in a First Call survey of analysts. Stanley didn't provide any financial guidance for the fourth quarter, but analysts lowered estimates amid plunging profits on Wall Street. Third-quarter net revenue was $5.3 billion, down 16 percent. The investment bank's securities business posted net income of $414 million, down 50 percent. Advisory revenue was $360 million, down 30 percent. Investment management net income was $125 million, 36 percent below last year, while credit services net income was $196 million, 14 percent below last year.Sporting goods manufacturer Nike reported late Thursday a first-quarter profit down from the year-ago period but ahead of analyst expectations. Citing a 6 percent rise in futures orders, Nike said it earned $204 million, or 75 cents a share, off from $210 million, or 77 cents a share. Analysts were expecting Nike to earn an average of 71 cents a share in the most recent quarter, according to First Call. Nike, originally scheduled to release earnings on Monday before changing the date due to the terrorist attacks last week, reported first-quarter revenue that was essentially unchanged from a year ago. Shares picked up more than 3 percent.

8:05am 09/21/01 Dow Chemical warns on Q3 earnings (DOW) By Baron

Dow Chemical (DOW) is warning that it no longer expects to meet its previous outlook for earnings of 25 to 35 cents a share for the third quarter due to weak overall economic conditions. Analysts polled by Thomson Financial/First Call were looking for a profit of 25 cents a share in the period. Actual results are expected on Oct. 25. The shares closed Thursday at $29.58, down 3.1 percent.

Korean LG-Dow starts producing polycarbonate resin

SEOUL, Sept 11 (Reuters) - South Korea's LG Dow Polycarbonate Ltd said on Tuesday it has started polycarbonate resin production at its plant in the southwestern city of Yosu.

The company said in a statement that output of the resin-- used in the manufacturing of engineering and construction materials--commenced at 65,000 tonnes per year (tpy), raising South Korea's production to 115,000 tpy.

LG-Dow, a joint venture between LG Chem Investment (LGCI) <03550.KS> and Dow Chemical Co of the United States, aims to double the plant's production capacity to 130,000 tpy in the next four years.

The company was formed in 1999 to address rising demand for polycarbonate resins, which was forecast to increase 10 percent per annum in the Asia-Pacific region, it added in a statement.

In July, LG-Dow took over Dow Chemical's polycarbonate market franchise in the Asia-Pacific with the exception for Japan.

The company cited Korea as a prime example of how the new plant will help to ease the region's current demand for polycarbonate resins.

"Today, Korea depends on imports to meet 70 percent of its demand for polycarbonate resins which amounts to $120 million. LG-Dow expects to produce approximately $350 million worth of polycarbonates annually to fully meet local demand," it said.

Shares of LGCI were down 10 won at 6700 at 0309 GMT.

23:18 09-10-01

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Salomon Barney Names Kepler CIO of the Year

MIDLAND, Mich.--(BUSINESS WIRE)--June 1, 2001-- Kepler, vice president, electronic business and CIO, The Dow Chemical Company, recently received the Salomon Barney (SSB) CIO of the Year Award on behalf of the company's Information Systems (IS) team.

Dow was one of 10 finalists from other Fortune 500 companies including Bristol - Myers Squibb, FedEx Corporation, JDS Uniphase, and Noble, Lockheed , Citigroup and Sabre. Nominees were selected based on research conducted by SSB's Equity Research Team, which is organized into fundamental, technical and investment strategy disciplines. The proprietary equity rating system used for evaluation included two components: a performance ranking (which includes total return potential) and risk evaluation. Domestically, the research team tracked nearly all of the S & P sectors and more than 90 percent of the 500 largest U.S. companies, as well as hundreds of middle- and small-capitalization stocks.

Nominated companies were selected and filtered during a three-round evaluation process. Judging criteria included technology solutions, corporate strategies and returns on investment. Dow was recognized for leadership in implementing an aggressive business strategy for a core, global IT system, empowered by Electronic Resource Planning (ERP). Additional Dow innovations that factored in included:

-- Dow Workstation: Dow has standardized employee computing

environments with the Dow Workstation, which includes standard

hardware and software. The company also uses a centralized

support and service organization that enables seamless and

-- Shared Data Network: The result of Dow's Global Reporting

Project (GRP), the Shared Data Network (SDN) enables Dow

businesses to quickly and easily gather information to support

business decision making and analysis. More than 20 major

information categories are available on the SDN, all of which

contain consistent data and use common codes and standard

hierarchies.

-- Customer Relationship Management: Dow is currently using

advanced database programs from Siebel Systems, Inc. to manage

customer information across six global businesses and three

internal functions, with phased, company-wide implementation

anticipated during 2001. The customer-centric software enables

Dow to create a comprehensive organizational memory of each

customer's interaction the company, which enables Dow to

better understand and serve its customers globally. Since

January 2000, 1.5 million customer records have been entered

into the Siebel system. And, as the usage of the system

increases so do the advantages.

-- Advanced Communication Tools: By incorporating advanced means

of electronic communication into its infrastructure, Dow is

empowering its employees with real-time information sharing

and collaboration, as well as fostering seamless communication

with its customers. The company's global electronic

communications network includes such innovations as

standardized workstations for all Dow employees worldwide;

leading-edge video teleconferencing with customers; real-time,

collaborative NetMeeting capabilities; and video streaming to

employee desktops. Through DowNET, Dow plans to incorporate

the next generation of telecommunications technology into its

infrastructure - technology that integrates audio, video,

telephony and computer capabilities into one comprehensive

tool.

Dow estimates that initiatives such as these have already recouped their costs and are now returning more than $400 million per year to the company. These investments will also play a crucial role in fulfilling Dow's IT goal of delivering $2 billion of operating income in the next five years.

"Dow has been a leader in implementing IT solutions that make it easier, faster and more convenient to do business," said Kepler. "Our focus has been driven by business fundamentals - improving the efficiency and effectiveness of our employees and delivering solutions to better meet customer needs. This award truly reflects the dedication and hard work of everyone on the IS team"

Dow is a leading science and technology company that provides innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of approximately $30 billion, Dow serves customers in more than 170 countries and a wide range of markets that are vital to human progress, including food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of Sustainable Development, Dow and its 50,000 employees seek to balance economic, environmental and social responsibilities. For further information, visit Dow's website at www.dow.com.

Salomon Barney is a global, full-service investment banking and securities brokerage firm. The firm's 10,900 Financial Consultants located in approximately 460 offices across the United States, service over 6.2 million client accounts, representing over $816 billion in client assets. Salomon Barney is a subsidiary of Citigroup.

CONTACT:

The Dow Chemical Company

Jo Piper, 517/636-5955

mpiper@...

or

Gibbs & Soell

Steve Halsey, 847/519-9150

shalsey@...

KEYWORD: MICHIGAN

BW2285 JUN 01,2001

9:03 PACIFIC

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