A Techie Paradise, Courtesy of Turk Telecom (int'l edition)

The Mediterranean cyber-oasis you refer to in ''The race to wire Europe'' (European Edition Cover Story, June 7) is actually alive and well here, 200 kilometers from the nearest big city. This morning, I received CNN news and sports over my mobile-telephone network, Turkcell, and I rang a few friends in North America and my daughter in London. I can also use my land-telephone lines through my computer and modem. If I had a TV, I would find world channels beamed here by satellite. Fiber-optic cables have been here for more than eight years, and this E-mail message is coming to you through my home-PC modem at 52,000 BPS.

Turk Telekom is one of the grouchy state monopolies that distort competitive markets and should, of course, be ''ungagged.'' Even so, the behemoth is profitable and has no liability to shareholders. More to the point, in this unlikely oasis, prices have come down, and no frenzied takeovers, death battles, or broken telecom trysts have distracted consumers. Most of the 30 million or 40 million subscribers and indirect users, via Internet, cell phones, satellite, cable, etc., not only have no complaints but are also relieved that, while the (deregulated) giants wage hot-wire wars to create high-risk free-range networks, Turk Telekom has been providing subscribers with high-speed service and investing (albeit state money) in integrated digital technology for the future.

Suzanne Swan
Antalya, Turkey

Suharto Still Casts a Long Shadow in Indonesia (int'l edition)

While the opposition was awaiting the chance of cashing in on sympathy votes on fears of aggression by the present government, the policy adopted by Mr. Habibie has put them in a quandary (''Indonesian elections: A new beginning?'' Asian Cover Story, June 7). The shadow of General Suharto has always prevailed over Habibie, since the ''reformists'' often denounce his reluctance to reveal the General's alleged stockpile of ill-gotten wealth acquired over decades of autocratic rule.

In the post-Suharto rule of Indonesia, nearly 48 political parties are vying for the presidency. Under Suharto there were only three. Such an upsurge precludes any one party having a decisive edge in the parliament. Given the preeminence of the office of the President even under the rewritten structure of government, the elections will, in one sense, serve as a preliminary test for the strengths of the presidential hopefuls. It's in this context that Mr. Habibie's long association with General Suharto, as his protege or even as a crony as alleged by critics, is seen by the ''reformist'' caucus as a liability.

Syed Altaf Ahmed
Madras, India

The U.S. Has a Case of Neocolonial Fever (int'l edition)

You report that the trade gap financed consumption in the 1980s (''Will the trade gap spoil the fun?'' Business Outlook, June 7) and that it now pays for ''more productive equipment.'' Fine, if this means a serious attempt to revive manufacturing, but this is also one sign that the U.S. has become dependent on imports for this, just like a developing country. A related neocolonial symptom is that income from U.S. assets abroad minus payments on foreign assets here has turned into a deficit, after peaking in the early 1980s. One can but hope that as long as dollar bills are used to prop up many a foreign mattress, nobody will be gauche enough to call in our multitrillion-dollar credit-card bill.

John E. Ullmann
Hempstead, N.Y.

All Internet Companies Are Not Alike (int'l edition)

''Who's getting more bang for the marketing buck'' (The Internet, June 7) was a brilliant look into what will drive success in the Internet economy. In launching an Internet business, we have tracked our marketing effort using the exact metric you chose. Our target revenue-to-marketing expense ratio is 10. Put simply, 10% of every sale is spent attracting customers. This is not an unusual number, considering the markup in our industry hovers at 25%. This leaves 15% of revenue to pay the rent, the salaries, and some return to the shareholder (me).

Before we ever spent large amounts of money on this venture, we carefully spent small amounts. If our test marketing showed a ratio of 1.27 (like CD Now), I would still be working as a business planning analyst.

I would like to see the ''back of the napkin'' calculation that says you can sell CDs while spending 79% of each order on marketing. We sell items that are similar in size to CDs and we spend 15% of revenue on shippiNg costs. Put those two together, and you will have 6% left for the CD, the rent, salaries, expenses, and let us not forget return on sales. Well, with those results, maybe we can forget return on sales.

Tom Nardone
President
Shopinprivate.com
Livonia, Mich.

''Does the recovery have legs?'' (Asian Business, June 7) (int'l edition)

A photo caption in ''Does the recovery have legs?'' (Asian Business, June 7) should have identified Daewoo Group as having a shipyard for sale, not Hyundai Group. The story also should have noted that Hyundai's Asan Corp. has paid only $50 million so far toward a $1 billion tourist investment it has contracted to develop in North Korea.

''The Stars of Asia'' (Special Report, Asian Edition, June 14) (int'l edition)

''The Stars of Asia,'' (Special Report, Asian Edition, June 14) incorrectly named Michael Chan's predecessor as chairman of Cafe de Coral Holdings. Chan became chairman following the death of his wife's cousin, K.M. Lo.