The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: billwot who wrote (1013)	11/1/2001 1:57:26 PM
From: Jim Willie CB	Read Replies (2) of 306849

Boston housing market soon to feel impact of Fidelity cuts Fido announced layoffs of almost 7000 people seven thousand people they are mentioned as forcing a relatively light reduction in workers Schwab and major brokerages have announced more severe reductions but Fido has more 401k ongoing business I mean from major corporate accounts handing individual 401k they have General Motors and many other huge such accounts honestly, I think Fido has done better at managing money even in the many mutual funds they have $700 billion under mgmt, I believe it was $280b in 1994 when I was there briefly I have long regarded Fidelity as the lynchpin in Boston they are the leader in the financial sector there sure, technology is a mainstay but its financial sector has been the up&coming strength job growth has come more from financial since 1994 than anywhere but biotech very diverse economy, much more than 1980's biotech is now another emerging strength with Genzyme etc computerdom technology is nowhere as dominant as before plenty of new Jack&Jill internets also, many of which died with second round of EMC layoffs, and Fleet back in summer and now Fidelity... stick a fork in real estate appreciation in Boston area probably at all levels / jim

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