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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (61928)	3/12/2002 4:54:16 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Now blood is starting to run in the streets! Stan Goldman Sachs to Fire 10% of Staff, Guardian Says (Update3) By Rob Stewart 03/12 04:26 quote.bloomberg.com London, March 12 (Bloomberg) -- Goldman Sachs Group Inc. may fire 10 percent of its global investment banking staff, about 2,000 employees, as it tries to combat a drop in business since Sept. 11, the Guardian newspaper reported without citing sources. The layoffs will begin after the bank reports its first- quarter results next week, said the Guardian, the second newspaper to say the bank will make cuts following the Observer last month. Goldman's business has failed to recover since the global economic slump that followed terrorist attacks in the U.S. Goldman's Chief Financial Officer David Viniar said at a Credit Suisse First Boston conference last month that the recovery in the U.S. is slower than he expected and the bank is ``not quite ready'' to make a decision on job cuts. Falling earnings prompted investment banks to fire about 30,000 people last year, the deepest cuts since 1987. In that time, Goldman fired about 3,500 people, though it hired almost as many, keeping its payroll at about 22,600. Eddie Naylor, a Hong Kong-based Goldman spokesman declined to comment on the report.

To: StanX Long who wrote (61928)	3/12/2002 10:03:25 AM
From: Mark Duper	Read Replies (1) \| Respond to of 70976

ot hi Stan i've been holding some lu shares since the asnd days. i don't think they'll ever get it right... Sup.

To: StanX Long who wrote (61928)	3/12/2002 11:55:50 AM
From: Sam Citron	Read Replies (2) \| Respond to of 70976

Stan, The good news is that LU found support at $5 for the third time since last June. The bad news is that the return to profitability is proving to be elusive mainly due to continuing weakness in the networking sector. LU revised revenue guidance to "a modest to 10% increase in its second-quarter revenue from the first quarter, rather than the 10% to 15%" biz.yahoo.com AD and Cary tried to warn me that last week's buoyant telecom action on Wall St. did not necessarily indicate a turn for the sector. At least as far as networking is concerned, AD and Cary have proved to be right, as confirmed by today's announcements by LU and NOK. I'll hold on for now to this stock (LU) that is priced like an option and see how the restructuring plan and recovery continue to unfold. Sam