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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Stock Farmer who wrote (55105)	9/8/2001 2:12:11 AM
From: elmatador	Read Replies (1) \| Respond to of 77400

Cisco and Nortel predict a year of struggle By Paul Abrahams in San Francisco Published: September 8 2001 00:51 \| Last Updated: September 8 2001 01:20 Cisco and Nortel, two of the largest companies in the networking sector, on Friday warned that demand for their equipment from the telecommunications sector remained dire, and this was likely to continue for between a year and 18 months. John Roth, Nortel's chief executive, said the Canadian telecoms equipment group would experience another year of poor sales, and that there was no way to say when spending by telecoms companies would pick up. The challenge was to cut the company to a size at which it could break even. The "resizing" of the company was running ahead of schedule, he added. The group reported a loss of $19.2bn in the second quarter and has cut about 30,000 jobs this year. Mr Roth dismissed merger speculation, saying the group was "not open to combining companies". His comment followed a report by RBC Dominion, the brokers, that Nortel would be bought by Cisco. Nonetheless, Bill Nuti, Cisco's senior vice-president of provider sales, said he expected wide-scale rationalisation among telecoms equipment makers. Speaking in New York, he said the group could face another six "very challenging" quarters. Cisco's shares fell 0.3 per cent to $14.36, compared with a 52-week high of $68. Nortel's shares closed up 3.1 per cent at $5.53. It has a market capitalisation of just $18.1bn, down 92 per cent in the past year. Mr Roth admitted that years of rapid expansion had robbed his company of discipline and focus. "It is going to be a while before the world injects $700bn into my customers again," he said.

To: Stock Farmer who wrote (55105)	9/8/2001 4:24:25 PM
From: RetiredNow	Read Replies (1) \| Respond to of 77400

Hi John, actually the TMs are people who lack any social skills whatsoever. You for instance have for the most part been pretty negative on the economy and have warned us about Cisco being overvalued. But you backed it all up with some decent analysis and anecdotes. The TMs don't do that. Instead they take pleasure in other people's misery and delight in name calling and vainglory. These people act like they are the only people in the world who saw this whole thing coming and they have profited greatly from it. They are so sure of their superiority that they continually tell us how stupid we are all. They love to say things like "you people" don't know jack about investing and "no one in American" understands how to do fundamental analysis. So it surprises me that you wonder why we ridicule these people in return. I respect people's opinion and I love to debate even when I see that my position is precarious. However, no one likes to be derided the way the TMs love to do.