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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: MileHigh who wrote (4754)	3/7/2000 12:19:00 AM
From: MileHigh	Read Replies (2) of 15615

Monday March 6, 10:05 pm Eastern Time U.S. economist sees 12-18 months more of tech boom SINGAPORE, March 7 (Reuters) - A leading U.S. economist said on Tuesday the boom in Internet-related shares could last another year to 18 months before values return to more realistic levels. ``We are in a long boom...but e-values in 12 to 18 months will migrate back to the non-e-world...through a lot of consolidation and acquisitions,' said Gail Fosler, chief economist with the Conference Board, a leading U.S. business research organisation. ``The bubble is going to be with us for a while.' ``Investors are throwing a lot of capital at a sector with almost no barriers to entry,' she told a meeting of the American Chamber of Commerce in Singapore. In many cases, only a small percentage of the share capital of Internet and high technology companies is publicly traded, leading to inflated scarcity valuations. Fosler said the Internet boom was having a profound effect on U.S. economic expansion. ``Information technology is driving over 30 percent of U.S. economic growth and represents nearly half of all business investment in plant and equipment in the United States,' said Fosler. It has also led to falling unit labour costs. She expected a growing number of open auction markets on the Internet where, for instance, customers could bid for a company and end up owning it within hours. (James Poole, Singapore +65 870 3837 email: james.poole@reuters.com)

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