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Technology Stocks : Intel STINKS!! BASHERS ONLY!! (Bears Board) -- Ignore unavailable to you. Want to Upgrade?

To: Lazarus_Long who wrote (314)	3/19/2001 12:11:21 AM
From: JohnD	Read Replies (2) \| Respond to of 409

I guess not everybody shares your view :) biz.yahoo.com Friday March 16, 7:04 pm Eastern Time Intel's tough times leave Texas capital in snit AUSTIN, Texas, March 16 (Reuters) - Times are tough for computer chip giant Intel (NasdaqNM:INTC - news) and the city of Austin is in a snit about it. The world's largest chip maker, based in Santa Clara, California, has told city officials it was halting construction on a downtown office building in the capital of Texas to save money during a global sales slump, a company spokesman said on Friday. Intel said it planned to resume construction when the economy picks up, but for now the planned 10-story building would be a six-story skeleton in the city skyline. The announcement was both a blow to the high-tech economy of Austin -- home to No. 2 computer maker Dell Computer Corp (NasdaqNM:DECC - news) -- and an offense to the city's aesthetic sense. ``It makes it look like we're in Beirut,'' Austin developer Perry Lorenz told the Austin American Statesman. ``To leave an eyesore in the middle of a bustling downtown is a travesty and is very much an embarrassment to the company,'' complained Mac Pike, another developer. Intel spokesman Chuck Mulloy told Reuters the company had stopped work on 20 building projects around the world and that the Austin facility was just one of them. Not to worry, he said: ``We're still very much committed to Austin.'' Intel's troubles are part of a general slowdown in the technology industry. It said earlier this month that first quarter revenues would be down 25 percent and that 5,000 jobs would be cut.