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To: Ilaine who wrote (82048)	3/18/2001 10:23:44 AM
From: Les H	Read Replies (1) \| Respond to of 436258

No Va has a large base of telecom (MCI,Sprint, AT&T, and the secondary carriers) and computer services firms. The immigrants from Asia and SE Asia (India, Vietnam, and Taiwan) tend to provide technical and managerial material for those two sectors either from recent college grads or straight from their local industries. Those tend to be better educated and more affluent. It's yet to be seen what impact the shakeout in internet and telecom companies will have on the Eastern Loudoun boom. There's a lot of building up of office space for CLECs, server farms, and warehouses.

To: Ilaine who wrote (82048)	3/18/2001 10:29:45 AM
From: marginmike	Respond to of 436258

Rents in NY residential are down 20% in my estimation. Retail space available up. In 1987 the residual effects of the crash werent fealt till 90' almost two years later. Until people start loosing their jobs Consumer confidence will maintain strong. However this Hoof in mouth problem in Europe is going to be the wild card. Europe is the last strong market in the world. The hoof and mouth situation is going to crush tourism, farming and travel which are importent industries in much of Europe. It could be enough to slow European growth enough to send global economy into tailspin of deflation and negative growth not seen since the 70's(Global negative growth not deflation obviously).

To: Ilaine who wrote (82048)	3/18/2001 12:25:12 PM
From: XBrit	Read Replies (1) \| Respond to of 436258

Data points from my world: 1) A for-sale sign went up on a townhouse on my street... and actually stayed there for 2 weeks now. The box is fully stocked with sales flyers. Longest time on the market, for this particular street, in about a year. This is prime heart-of-Silicon-Valley territory. 2) The guy I use for clothes alterations has promised 5 days and been late, every time I used him for 18 months. This month, twice, he promised 48 hours and delivered. 3) Next-door neighbor thinks she's going to be laid off next week. She works in HR for a small semi equip component company. NVLS just cancelled all parts orders and the company is tottering. 4) Another neighbor works for IWOV. Stock options went from worth $250k to underwater in 4 months. He isn't even vested yet. He told me yesterday he's selling his house and moving to LA. 5) Fragments overheard: in Fry's electronics, a sales clerk applicant "I got laid off at Apple last week"... in the supermarket, "you know Alice was laid off, don't you? She's happy though, great severance." All in all, I think the downturn is starting to seep through the cracks here in the Valley of Heart's Delight.