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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 78.32-0.1%Jan 30 9:30 AM EST
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To: Gottfried who wrote (65586)6/21/2004 11:48:56 PM
From: Lizzie Tudor  Read Replies (3) of 77400
 
that article reads about right to me. What it doesn't say is that companies like HP and MSFT are offshoring all the software jobs now, some of the very high level architectural positions. That is a vicious cycle because the best capex customers in the 90s were the technology companies themselves. In essence, they have offshored themselves out of a market, which is what happens when industries mature. Maybe this is what a maturing industry looks like, declining wages and no real prospects, I don't know. This is not like the 80s or early 90s, forget the late 90s. Maybe I'm more pessimistic because I know what a recovery is supposed to look like, I have been through a few. This is no recovery- people are still getting laid off. Stocks won't go anywhere until this stops and optimism returns, not for the CEOs but for the regular working guy.

The region has suffered other downturns, of course, including a steep decline in the mid-1980's after the excitement over the advent of the personal computer. "But that recovery was much quicker than it will be this time," Mr. Levy said. "Previously, the job levels had always bounced back really strongly in two or three years. This time it's going to take much longer."
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