Siebel sees economic rebound late 2002
ASPEN, Colorado, Aug 20 (Reuters) - E-business software firm Siebel Systems Inc. (NasdaqNM:SEBL - news), on Monday forecast that the sagging economy will not recover until a year's time, saying that the technology bubble has yet to fully deflate.
``I don't think we have begun to see the carnage in information technology companies that are going to fail,'' Siebel Chief Executive Tom Siebel told a conference organized by the Progress & Freedom Foundation. ``We expect to see this turnaround around Q3 of next year.''
``My market will follow the economy at large,'' he told Reuters on the sidelines of the summit.
Siebel declined to give specific forecasts for his San Mateo, California-based firm, which makes customer relationship management software.
``We got in kind of a bubble situation. The world went crazy in the last two years,'' he told the conference. ``Sanity is returning.''
``Is it going to get better soon? Q3, Q4?'' he said, referring to the second half of this year. ``We don't think so.''
biz.yahoo.com |
