HK, I agree a little dose of skepticism might be healthy, but investment folks tend to go extreme in both directions.
re: Management is paid to give a positive spin ,
I don't think so. They are there to guide us with fairly accurate facts. Larry and co are great communicators with investors which is different from "positive spin." I know it happens quite often in Korea, Taiwan, but it's hard to run #2 software company without hard facts and #s in this country.
re:IT e spending, Most of our clients are old economy, banks, health Care and so forth. Most of them do have huge budget for e business. They are more cautious than before, but it's survival decision for them, either be there first or grab bigger market by providing better service and cut down staffs by being more efficient. For example, one bank on Wall in Mahattan, they reduced huge staff for the past few weeks which wasn't possible before. That's huge savings to the bottomline. Because of our first hand experience with these clients, I do not doubt Henley's comments.
take care,
InSook Prasad |
