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Technology Stocks : Nortel Networks (NT)
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To: Glenn Norman who wrote (2197)3/11/1999 5:21:00 PM
From: Kenneth E. Phillipps  Read Replies (1) of 14638
 
From Business Week, March 15, 1998

"Is tech spending, the engine that has helped power the economy in the last six years sputtering? A survey of top corporations by market research firm Forrester Research Inc. shows they plan to raise information technology spending by just 1% this year, down from 4% in 1998. After plowing billions into new networks, phone companies are slowing capital spending increases to 9%-10% this year, from 15% in the past several years, says BT Alex Brown Inc. The firm figures some companies will even cut budgets. Bell South Corp., it estimates will cut capital spending by 6% to $4.9 billion. All told, says analyst Vadim Zlotnikov of Sanford C. Bernstein & Co., tech spending in 1999 will climb at just half its historic rates."
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