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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 165.07-1.0%Nov 18 3:59 PM EST
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To: Maurice Winn who wrote (104804)9/15/2001 9:21:13 AM
From: Wyätt Gwyön  Read Replies (2) of 152472
 
hi Maurice Winn,

for once i find myself largely in agreement with you...

The most American thing to do is to think for yourself and protect your interests [which should include respecting other people and therefore ethical and moral standards]. Many people in SI are unAmerican.

yep...

The economic impact of 5000 dead people is trivial for the world's economic system and the USA's too. The value of the buildings is an insignificant part of the USA's real estate value.

actually, the thing that matters on the macro level is the long-term economic ramifications of the attack, more than the immediate damage suffered. while i agree with you that the immediate damage is very small compared to the entire US (though not negligible--those 5000 dead include much of Wall St's best brainpower, and that 15-20 million of kaput prime office space represents 15-20% of NYC's such space), the real expenses will be down the line.

specifically, we are going to have much higher security expenses, both on the military level and as a cost of doing business (e.g., airport and airline security measures, and the attendant increase in travel time). i expect these heightened costs will be a greater drag on aggregate corporate profitability over time than the immediate disaster. simply put, America is going to be a more expensive place to do business. hence i expect return on invested capital will go down (as already presaged in the bond yield drops).
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