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Technology Stocks : Intel Corporation (INTC)

INTC 40.56

+10.2%

Nov 28 9:30 AM EST

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To: GVTucker who wrote (143870)	9/20/2001 4:53:29 PM
From: Road Walker	Read Replies (1) of 186894

GV, There is the issue that the airlines were not brought down by normal business conditions, they were brought down by an "act of war" (if you buy the rhetoric). And the airlines are of strategic importance to the economy, government and even the military. As you say chapter 11 doesn't ground them, but it brings them a step closer. I would agree with a bailout, I think this situation is unique. If it was one airline that mismanaged it's business, that would be another story. But this is a very competitive industry that was directly targeted in a terrorist "act of war". Plus the spectacle of AMR and UAL flying under bankruptcy would certainly tank the market further (if that is possible, and it certainly appears to be at this point). Academically I agree, in practice I think the bailout is better than the alternative. John

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