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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 75.26

+1.2%

3:59 PM EST

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To: Lizzie Tudor who wrote (65692)	7/2/2004 11:35:54 AM
From: Amy J	Read Replies (1) of 77400

Hi Lizzie, "Treasury Secretary John Snow said that he's not concerned about the jobs report." money.cnn.com Click on the salaries of the so-called high-paying jobs, and it's a shocker: money.cnn.com "Well-paying jobs with openings" - their definition of well-paying is mid-50s. money.cnn.com "I don't see any storm clouds on the economic horizon," said Mark Vitner, senior economist with Wachovia Securities, who is forecasting 270,000 new jobs in the June report. "We don't see any potential land mines or problem areas. Even an attack on the scale of 9/11 would not cause the economy to go into recession in the next two years." ... "Could it [recovery] last six months? Yes. A year? Maybe. Two years? No way," he said. ... "Between 2000 and 2020, you'll see 50 million people retiring to be replaced by 30 million," he said. ... When everyone retires on us, we're going to be even more screwed because labor costs will shoot to the moon along with higher fica costs, dragging our stock profits down to nothing. (I'm exaggerating to make a point, but it does make you wonder how companies are going to find employees in a few years.) Regards, Amy J

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