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To: Jim Willie CB who wrote (41050)	9/7/2001 1:45:48 PM
From: stockman_scott	Respond to of 65232

Fed Outlook : Hearing from sources at CSFB that one of firm's strategists is forecasting up to three more rate cuts, totaling 75 basis points, in this easing cycle...(briefing.com) Best Regards, Scott BTW, JW you're aweful BULLish <VBG>.

To: Jim Willie CB who wrote (41050)	9/7/2001 1:52:50 PM
From: stockman_scott	Respond to of 65232

Nortel CEO Sees Another Year of Drought Friday September 7, 1:45 pm Eastern Time CALGARY, Alberta (Reuters) - The head of Nortel Networks Corp. (NYSE:NT - news; Toronto:NT.TO - news) said on Friday that the troubled maker of telecommunications gear has ``at least 12 months of drought'' ahead, but ``resizing'' of the company was running ahead of schedule. Speaking to a round table in Calgary, Nortel chief executive John Roth said the main challenge for Nortel was to reach a size where it can break even. It was not clear when the battered tech sector would rebound, he said, and spending could fall further from current levels. ``It will stay this way for some time, maybe go a bit lower. The challenge we are having is how do you get sized for breakeven,'' he said. Nortel, which reported a massive $19.2 billion loss in the second quarter, has cut about 30,000 jobs this year.

To: Jim Willie CB who wrote (41050)	9/7/2001 3:38:34 PM
From: stockman_scott	Respond to of 65232

Bush Says He's Concerned About Jobless Rate Friday September 7, 3:25 pm Eastern Time WASHINGTON (Reuters) - President Bush on Friday expressed concern about higher U.S. unemployment and urged Congress to enact his ``pro-growth agenda'' to create energy- and export-related jobs. ``The slowdown is real and is affecting too many lives,'' Bush said. ``I want the American people to know we're deeply concerned about the unemployment rates and we intend to do something about it.'' Appearing outside the Oval Office with Vice President Dick Cheney, House of Representatives Speaker Dennis Hastert and Senate Republican leader Trent Lott, Bush was reacting to the news that the U.S. jobless rate in August jumped to a nearly four-year high of 4.9 percent, up from 4.5 percent in July. Bush said Congress should give him fast-track authority to negotiate trade deals with foreign nations to boost export-related jobs and energy legislation to create more employment in that sector. Both issues are subjects of major debate in Congress. On a day that stock markets were tumbling anew, Bush also said he wanted a federal budget that does not dip into the surplus Social Security revenues. ``It's absolutely essential that we work together to put a growth plan in place to create jobs for hard-working Americans. It starts with having a responsible budget that meets our nation's obligations without affecting Social Security or dipping into Social Security,'' Bush said.