Well anything to cut costs goes into that as well.
But the fact that companies are deciding to forego travel only means it's not great news for the hotels, restaurants and car rental companies and tourism combined with biz trips either and those type companies employ lots of people who buy lots of tech and non tech stuff in good times.
Eventually everything comes to equilibrium, but it's possible that the old economy companies are the ones that will suffer and the techs who have already laid off and laid off and laid off and cut, cut, cut will be the ones who save the economy this go round from the grips of a deeper recession.
I kinda think both sides need to be stable to really see the economy grow again and get people to feel better about the economy.
When we got TV, movie theatres saw a huge cut in demand but in the end, the TV was not the end of movies but propelled their growth since it could be used as a means advertising and further distribution (videotape/dvd purchases and rentals, licensing by tv of movies down the road). And of course we use the TV as a means to distribute news. What started out as free public television, morphed into something that people were willing to pay for (cable, tivo, satellite) Gee......... sounds like the internet which is seeing the likes of yahoo successfully charging for services now. Lord only knows what we'll see in 20 years from the net, but I suspect it will eventually dwarf what tv has done.
And don't even get me started on how the pc moved from something we could use for word processing to what it is today.
Nope.......... I think we are only in the infancy of the "new economy" and when we look back we'll wonder what all the fuss was over about whether this war took a month, two months, six months or a year. Those who can look out farther than their nose, will prosper from this down turn.... not that stocks are cheap, but I think some day we'll look back and say.................. wow! Why didn't I buy more?
TA |
