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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: James F. Hopkins who wrote (128582)	10/10/2001 7:53:55 PM
From: pater tenebrarum	Read Replies (2) of 436258

Jim, i think it can be seen in a similar light as previous booms...while there's now a lot of unused capacity, it has certainly been a bonanza for the consumer, in terms of getting a lot of communication power for very little money. and there's always the hope that at some point in the future a killer application might come along and revive demand. but what is definitely out of the question are the riches the snake-oil sellers promised would be reaped by the corporations involved in the build-out. on the whole, it has been a money-losing proposition. consider that the accumulated losses of Nasdaq listed firms since mid 2000 now exceed the cumulative net profits of the years '95 to '00. i for one am not surprised, as a great deal of the reported profits was derived from the stock market itself. everything from ESOPs (and the related tax credits) to put selling and speculation in other cos. stocks was practiced with great fervor...remember when Intel insisted that analysts include its market speculation profits in their earnings estimates? now that the profits have turned to losses, Intel is remarkably quiet on the issue.

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