Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Larry S. who wrote (34563)	11/13/2001 12:10:45 PM
From: Larry S.	Read Replies (2) \| Respond to of 53068

Corning Sees Turnaround in Second Half of 2002 Tuesday November 13 11:27 AM ET NEW YORK (Reuters) - Corning Inc. (NYSE:GLW - news), the world's largest maker of fiber-optic cable, sees a turnaround in its business in the second half of 2002, President and Chief Executive John Loose said on Tuesday. ``We see a turnaround in six to nine months because the regional (telephone) carriers are going to be facing emerging problems, and they're going to have to start building out fiber-optic networks,'' Loose told Reuters at a telecommunications conference here. Speaking at the UBS Warburg Global Telecom Conference, Loose said Corning does not expect to cut its 2002 capital spending budget any further. ``We have said our capital spending will be between $600 million and $700 million next year, which is down from $1.8 billion this year,'' he said. ``I don't foresee it going any lower.'' Loose said he hopes there are no job cuts in 2002, but added, ``We're not going to run this company on hope.'' The company, which employed 43,000 people at its peak, will cut as many as 12,000 jobs by the end of this year