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Non-Tech : SMARTFLEX ALSO MEMBER OF THE IOMG FAMILY
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To: kolo55 who wrote (306)7/18/1997 4:00:00 AM
From: michael c. dodge   of 558
 
This happened last Friday, after a buildup of a few weeks. Expectations are for a devaluation vs. the U.S. Dollar of about 30%-40%, plus or minus. Many Philippine labor contracts are pegged to the U.S. Dollar, and will not be affected by this. Some other local costs will come down in Dollars.

Does anyone know how the labor costs for this company in the Philippines, are priced ??? This can create a huge short-term shift in reported Dollar earnings.
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