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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: John Madarasz who wrote (10553)	8/20/2001 10:02:58 PM
From: JRI	Read Replies (1) \| Respond to of 209892

Lessons in propaganda....(warning: long post) Nikita K. and the Red Boys had nothing on the modern day machine we call the financial press.....here's two article that "spin" it....you be the judge which author has the tone right here...(pretty typical, but I'm still always amazed) 2 versions...here's version 1: FWIW: Tech Industry Officials Upbeat (COMTEX) B: Tech Industry Officials Upbeat B: Tech Industry Officials Upbeat ASPEN, Colo., Aug 20, 2001 (AP Online via COMTEX) -- The battered technology industry should begin to recuperate next year, pulled out of the doldrums by fundamentals such as sound finances and the availability of high-speed Internet access, industry leaders said Monday. Thomas Siebel, chief executive officer of software maker Siebel Systems, said the nation's slowing economy actually has signaled a return to normality, which bodes well for the tech sector. "I'm really bemused by the gloom and doom that's out there. Not only is it the end of the world but it's the end of the world forever," Siebel said Monday. "We need to get a grip of what has happened here ... now some sanity is returning to the world." Siebel was one of several speakers who addressed the Progress & Freedom Foundation's seventh annual Aspen Summit, which concludes Tuesday. One of the key issues before participants is the first real recession of the digital economy. Siebel's holdings have plunged by more than $2.8 billion since March 2000 while there was an $18.5 billion drop in the company's market value. Siebel acknowledged that things were not likely to improve for the next few quarters, but predicted that the tech sector would turn around in the third quarter of 2002. "It's amazing today that an industry that had so much promise is now considered to have so little," said Doug Ashton, managing director of Bear, Stearns & Co. "I'm bullish on the sector, I'm bullish on things turning around." In a related development, Agilent Technologies Inc., a maker of test and measurement equipment that was spun off from Hewlett-Packard Co. in 1999, announced it is slashing 4,000 jobs because business is expected to stay sluggish. Still, most leaders said the technology introduced during the boom, like low-cost semiconductors and the increasing use of the Internet, will help them survive. Participants said a key engine for change is delivering high-speed Internet access, known as broadband, to consumers as quickly as possible. Several believe that so-called "ubiquitous broadband" will funnel billions of dollars into the economy if done correctly. The problem, they said, is strict government regulation on broadband, which makes investors wary. "The biggest impediment to getting the economy back going again is to clear out the uncertainty regarding broadband," said Jay Keyworth, foundation chairman. The leaders also noted opportunity for growth in the public sector, ranging from the U.S. Postal Service and the State Department to town tourism offices. By NICK WADHAMS Associated Press Writer Copyright 2001 Associated Press, All rights reserved ____________________________________________________ And version 2: Siebel sees economic rebound in late 2002 ASPEN, Colorado, Aug 20 (Reuters) - E-business software firm Siebel Systems Inc. (NasdaqNM:SEBL - news), on Monday forecast that the sagging economy will not recover until a year's time, saying that the technology bubble has yet to fully deflate. ``I don't think we have begun to see the carnage in information technology companies that are going to fail,'' Siebel Chief Executive Tom Siebel told a conference organized by the Progress & Freedom Foundation. ``We expect to see this turnaround around Q3 of next year.'' ``My market will follow the economy at large,'' he told Reuters on the sidelines of the summit. Siebel declined to give specific forecasts for his San Mateo, California-based firm, which makes customer relationship management software. ``We got in kind of a bubble situation. The world went crazy in the last two years,'' he told the conference. ``Sanity is returning.'' ``Is it going to get better soon? Q3, Q4?'' he said, referring to the second half of this year. ``We don't think so.'' Message 16236557 Message 16237000