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Politics : Formerly About Applied Materials

AMAT 324.82

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10:04 AM EST

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To: Proud_Infidel who wrote (48046)	6/17/2001 2:50:59 PM
From: robert b furman	Read Replies (1) of 70976

Hi Brian, I'll start the survey: I've been wanting a handspring pda fo about a year. I don't carry a balance on my credit card. The minute I get my check - I'm buying a handspring PDA and getting a wireless monthly subscription so I can check streaming quotes with my Scottrade account when I'm not in front of my computer at work(2 Dells) or at home(1 Dell). Agreed ,it is justa lousey 600 bucks we'll get back.I think 96,000,000 tax returns time $300 or $600 is a pretty darn good start. I heard it and this is just recall - but I think the checks are being issued starting with 01 - 99 in the last two digits of a tax payers SS#. I believe the first checks hit the mail starting July 23 and will be done by the end of August. I wonder what the velocity of that money will be as I spend it immediately and then what the next guy does. I'm thinking it will at least be a nice plus in Q3. Tax cuts over our history have resulted in increased economic growth to such a degree that government revenues actual increase as well. This should be at least a positive, above what our current state of economy is (at least from the consumer's perspective). I am amazed that so many people are surprised by the horrific losses incurred by the fiber optic players and telecom companies. What has happened to everyone's portfolio has happened to a greater degree to the companies that were on a spending and acquisition binge:Nortel Jdsu,Csco these guys were the main players(keep in mind they didn't buy a hundred shares - they bought the whole farm).They bargained off their inflated stock for the swapping of another inflated stock.Now the air has gone out of the surviving stock and they are writing it down to current valuation.The difference becomes a tax loss carry forward which means they retain the whole dollar of future profits instead of paying 22-33 cents of it to the government on a quarterly estimate. I'd throw in the family dog on the writedown too, if it meant tax free income in the future. Don't get me wrong - financing noncredit worthy customers is BAD business and overbuilding inventory is clumsy business as well. These guys need to get there job security threatened and in some cases terminations are happening(jdsu). I think some of it is business as usual - write down the inventory to avoid tax obligations - surprise earnings when you do sell some of it and call "recovery of writedowns in inventory". It's an old game and the IRS is the short term loser. JMHO Bob Just as a side note : I believe band width would grow much faster - if the technology would change faster.I own a dealership In Livingston Tx.The local phone company is light years ahead of the RBOC's. They stream video over the phone lines on demand.The rental of video usage has tripled to quadrupled.Just think ,you don't have to stop and pick it up- you don't have to remember to take it back or get fined a late fee.People love it and use it much more.Bandwidth is just beginning to grow - what delays it is the cost to install. The local phone company expeienced $1500 per customer initial buildout expense.They are very small and like Fort Knox.ggg

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