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Politics : Formerly About Applied Materials
AMAT 260.22+0.4%3:59 PM EST

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From: Gottfried2/3/2002 10:08:28 PM
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Gates Sees No Economic Recovery in 2002
February 3, 2002

By REUTERS
Filed at 4:06 p.m. ET

NEW YORK (Reuters) - Microsoft Corp. (news/quote) (MSFT.O) Chairman Bill Gates said on Sunday that he sees no global economic recovery this year, countering a budding groundswell of optimism tied to economic data pointing to a fast rebound.

Gates, co-founder of the world's largest software supplier, said that corporate capital spending cuts and a glut of excess capacity in hard-hit sectors such as telecommunications may keep the economy moving sideways through the rest of 2002.

``I don't see any big uptick in this year. Japan certainly won't be, and the U.S. won't be,'' Gates told an audience of editors and reporters attending the five-day World Economic Forum summit of political and business leaders in New York.
[snip]

nytimes.com

or
dailynews.yahoo.com
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