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Technology Stocks : Corning Incorporated (GLW) -- Ignore unavailable to you. Want to Upgrade?

To: James Calladine who wrote (1390)	7/9/2001 4:51:56 PM
From: Jason W	Read Replies (1) \| Respond to of 2260

$5.1B is a lot of money. GLW has a market cap of $14B and has revs of 8.6B for the entire year. Anyone know how many factories GLW has? Closing three leaves how many? How will this affect the 25% annual growth rate everyone loves to boast about? This is depressing...Said the guy who added shares at 14 and change and felt smart for about 3 days:-( This changes my view of technology investing for the next 18 months and beyond considerably. They axed the dividend as well. Regards, Jason

To: James Calladine who wrote (1390)	7/9/2001 7:05:42 PM
From: John Curtis	Respond to of 2260

James: ""With the dramatic reduction of infrastructure spending across the telecommunications industry,..." Basically, what they're saying is the collapse of the CLEC & Dot.com world in the form of the Winstars, the Northpoints, the Teligents, etc., is rippling outward. The glory days for the "picks and shovels" providers to the miners of telecom are over. Most of the miners have gone bust, and will probably be selling their stakes to the original miners, the LEC's and certain early originator CLEC's. This vastly reduced field is certain to have its effects in the market via two obvious mechanisms. First, there are fewer customers to sell to, and those standing (eg. the LEC's) tend to have glacial buying habits when it comes to telecom build-out (particularly now that competitive pressures are relaxing). Second, all those entities now going belly-up will be flooding the market with additional excess capacity hardware, further suppressing equipment buying from such as Corning. Uhhh...at least on the domestic front. And somewhere behind all this are the leaders of the LEC's rubbing their hands and cackling in "Those young whipper-snappers, It's A Wonderful Life" Mr. Henry F. Potter (Lionel Barrymore) glee over it all. And the Corning's, JDSU's, et.al., of the world are forced to adjust accordingly. John~