Welcome to the major leagues of debt. Collateralized debt obligations, almost always referred to as a CDOs, are horrendously complicated deals that often leave anyone without a MBA wondering what was put into these CDOs.

The first thing to understand about bonds, (aka debt) is that bonds are often backed by something else. Think about your home mortgage. If you don't pay your mortgage, the bank can take the house. You end up homeless, and the bank sells the house to pay off the rest of that mortgage. There is something "backing" that mortgage; something lender can fall back on, if you don't pay your bills like a good human being. That's called collateral.

CDOs are one flavor of an entire sector of investing called structured finance, and they are also backed. CDOs, in the simplest concept, are just bonds backed by something else. In most cases, a CDO is backed by a collection of various types of debt. CDOs can be home mortgages, or other types of debt like credit cards, auto loans, and personal loans. Most of these types of debt are usually considered a bit more risky and they don't have the backing that a home loan does. So, if you think it through, you can imagine that CDOs are usually considered a risky investment.

To take a step further, understand that CDOs have multiple flavors within each CDO. These flavors are called tranches. If you've taken French, you might recognize the word, it means "slice" or "portion." Each slice of that CDO you invest in is a little different and carries different amounts of risk.

You could invest in the lowest risk tranche of the CDO, which would provide you lower risk. But, you don't get a good return on that investment. Or, you can be the heroic adventurer of bonds and invest in the lowest-grade tranche of the CDO. You'll make an amazing return, but if the economy even looks at you wrong, you might lose the entire investment.

CDOs aren¿t easy, and are almost always invested in by mutual funds, insurance companies and hedge funds. As an individual investor, you will probably not come across a CDO you can participate in.

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Wednesday, June 18, 2008

World's Smallest Non-Volatile Push-Button DCPs Combine Performance and Flexibility for Easy-to-Design Control Solutions

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MILPITAS, CA, Jun 18, 2008 (MARKET WIRE via COMTEX) ----Intersil Corporation (NASDAQ: ISIL), a world leader in the design and manufacture of high-performance analog semiconductors, today announced the ISL22511 and ISL22512, the world's smallest non-volatile push-button DCPs. These easy-to-use, rugged devices provide designers flexibility, while saving board space and power.

The ISL22511/12 come in very small micro-QFN packaging (2.1mm x 1.6mm) and are 25% smaller than their nearest competitor.

With a simple, easy-to-use push-button interface, the ISL22511 and ISL22512 can operate independently from a microcontroller. In fact, these devices have an automated store feature, eliminating the need for an extra step or microcontroller to activate the "store" function. This stores the last wiper setting in the integrated EEPROM memory so the device will recall the last wiper position when it is powered on.

For flexibility, the two devices have multiple modes. One mode activates the auto-store mode and another keeps manual-store and activate wiper storage on command. Both the ISL22511 and ISL22512 also feature a user-activated, power-saving shutdown mode that prevents additional current from flowing through the DCP when initiated.

These devices also have a two-mode auto increment/decrement function that allows the end user to hold the pin until it achieves the desired position. This is very convenient in the 32-tap ISL22511, allowing the user to transition through all the wiper positions without repeatedly pressing a button.

The ISL22511 is a 32-tap device designed for applications needing wider dynamic range and higher resolution than a 16-tap device. Often, however, 16 settings are sufficient for adding an end-user adjustment feature. For those applications, Intersil offers the 16-tap ISL22512.

With a high temperature rating of 125 degrees C, the ISL22511 and ISL22512 are both rugged DCPs able to withstand the tough environments of automotive and industrial temperature ranges.

For those applications that do not need to store the wiper position or use the EEPROM elsewhere in the circuit, Intersil also offers the volatile ISL23511 and ISL23512, 32-tap and 16-tap respectively.

Pricing and Availability

The ISL22511 is available now in a 10-lead micro-TQFN package priced at $1.18 per unit in 1,000-unit quantities. The device is also available in an 8-lead SOIC package priced at $1.16 per unit in 1,000 unit quantities.

The ISL22512 is available now in a 10-lead micro-TQFN package priced at $0.75 per unit in 1,000-unit quantities. The device is also available in an 8-lead SOIC package priced at $0.73 per unit in 1,000 unit quantities.

For more information on the ISL22511, please go to http://www.intersil.com/cda/deviceinfo/0,1477,ISL22511,0.html

For more information on the ISL22512, please go to http://www.intersil.com/cda/deviceinfo/0,1477,ISL22512,0.html

Note to editors: To view a high-resolution downloadable photo of ISL22511 and ISL22512, visit Intersil's photo room at: http://www.intersil.com/pressroom/photoarchives.asp.

About Intersil's Digital Controlled Potentiometer (DCP) Products

Digitally Controlled Potentiometers -- also known as DCPs, RDACs, Variable Resistors, Voltage Dividers, Digital Pots, Digital Potentiometers or EEPOTS -- are one of Intersil's most prolific product families. The company offers the widest selection of low-to-high resolution digitally-controlled potentiometers in single, dual and quad configurations. Available in both linear and non-linear tapers, these digital potentiometers replace mechanical potentiometers and trim resistors in applications where digital control allows microprocessor interfacing and extended functionality. Intersil continues to innovate in the general purpose markets with the smallest, highest operating temperature, and integrated digital control products for industrial, medical, display and other consumer applications. Intersil DCPs can be used anywhere an adjustment or calibration is needed.

To learn more about Intersil's broad DCP portfolio, visit http://www.intersil.com/DCPs-DCCs/.

About Intersil

Intersil Corporation is a leader in the design and manufacture of high-performance analog semiconductors. The Company's products address some of the industry's fastest growing markets, such as, flat panel displays, cell phones, other handheld systems, and notebooks. Intersil's product families address power management functions and analog signal processing functions. Intersil products include ICs for battery management, hot-swap and hot-plug controllers, linear regulators, power sequencers, supervisory ICs, bridge drivers, PWM controllers, switching DC/DC regulators and power MOSFET drivers; optical storage laser diode drivers; DSL line drivers; video and high-performance operational amplifiers; data converters; interface ICs; analog switches and multiplexers; crosspoint switches; voice-over-IP devices; and ICs for military, space and radiation-hardened applications. For more information about Intersil or to find out how to become a member of our winning team, visit the Company's web site and career page at www.intersil.com.

 Media
   Contact Rob Purdie Public Relations Manager Intersil Corporation (321) 724-7688 rpurdie@intersil.com

SOURCE: Intersil

mailto:rpurdie@intersil.com

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