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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 168.09+1.8%Nov 28 9:30 AM EST
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To: propitious7 who wrote (25901)8/22/2002 7:31:57 AM
From: Jack Bridges  Read Replies (2) of 196781
 
I'd like to comment on one part of your thoughtful analysis. That's the part about Euro government paralysis and the unlikely event of a "complete about-face."

The mood is changing. When regulators rolled with pure joy in their auction bonanzas, they implied to their constituents -- business, labor , and investors, including pension funds, banks and insurance companies -- that all would soon benefit from the glories of Europe's impending dominance of the Information Age, brought to you by their 3G genius.

As reality has struck, many insurance companies would be broke today if their regulators had not lowered the solvency standards to match the debacle in telecomm share prices resulting from ill-conceived auctions. The adequacy of pension fund reserves is under attack. Stock ownership plans have created a terrible backlash. Job losses mount.

Questions are being raised as to why the same telecomm geniuses and regulator geniuses who created this mess are
now losing further ground to the obvious progress in Asia and America.

Notice how quickly Germany reacted to their flood disaster. A promised tax cut was postponed, even in the face of the run-up to a tough election. No paralysis there. Yet the money down the tubes of Euro-3G's fiasco far exceeds flood damage and tax cuts combined.

QCOM share price has long since discounted any good news ever emanating from the world's greatest customs union. This will be readdressed if/when paralysis ends, and that could come about sooner than later.
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