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To: Joan Osland Graffius who wrote (144354)	1/17/2002 12:08:12 PM
From: Earlie	Read Replies (1) \| Respond to of 436258

Joan: Very sorry to hear of this, but it is just one more in a long parade of closings that are occurring with regularity now. Deflationary forces have long since achieved critical mass IMHO. It would surprise me greatly if we got through this year without a major market melt, given the imploding economic reality. Mattresses against the doors already at this end. Best, Earlie

To: Joan Osland Graffius who wrote (144354)	1/17/2002 12:48:09 PM
From: GraceZ	Read Replies (1) \| Respond to of 436258

FWIW Joan, in my neck of the woods, my advertising and design clients are all in consolidation phase and subsequently the labs. Oddly enough the photographers seem to be eeking out a living but I think that is because they have inherently lower overhead, ie. a lot of them work out of their homes and rent studios only when they need them, whereas the design shops have staffs to lay off. Advertising has really dried up. I have a friend who worked for Business Week and she just got laid off because their ads have dropped off a cliff. Two years ago she told me they were so over worked that people were hoping for a recession (careful what you wish for). She says the word on the street is don't bother looking for a job, not in NYC.