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To: James Strauss who wrote (10952)	4/29/2002 12:44:26 PM
From: James Strauss	Respond to of 13094

Volatility Index [VIX] Near Critical Point... ******************************************************* bigcharts.marketwatch.com Any movement above 25 sets up a possibility of further market downside until the VIX tests the 30 area... A break above 30 is usually associated with market extremes... Jim

To: James Strauss who wrote (10952)	4/29/2002 12:48:33 PM
From: Bucky Katt	Read Replies (1) \| Respond to of 13094

This won't help either, once well paying manufacturing jobs get sent to overseas workers, they are going to be gone forever. DuPont to cut 2,000 jobs in textiles business WILMINGTON, Del., April 29 (Reuters) - DuPont Co. (NYSE:DD - news) on Monday said it planned to cut 2,000 jobs in its DTI textiles and interiors business, a maker of well-known Lycra fabrics and Stainmaster carpets, which has struggled with stiff competition from abroad. The No. 1 U.S. chemical company, DuPont said the cuts represent about 10 percent of DTI's work force. More than two-thirds of the job cuts will occur in the United States, where DTI will close a manufacturing unit in Niagara Falls, New York, and parts of its spandex facility in Waynesboro, Virginia. The plan comes as DuPont, based in Wilmington, Delaware, is preparing to shed the textiles and interiors unit and marks the latest in a series of job-cut announcements. Since April 2001, DuPont has cut 5,500 jobs, or 6 percent of its total work force, as part of a restructuring to reposition itself as a science company. By the end of next year DuPont hopes to launch an initial public offering of the textiles and interiors unit, although it has not ruled out other options such as an outright sale or a spinoff. Shares of DuPont, a component of the Dow Jones industrial average (^DJI - news) , fell 5 cents to $43.85 in early activity on the New York Stock Exchange. The stock is down about 2.8 percent so far this year. Beyond Lycra and Stainmaster, the textiles and interior unit includes the polyester and nylon business of DuPont, which invented nylon in the late 1930s. The business, which generates $6.5 billion in annual sales, or slightly less than a quarter of DuPont's total sales, has struggled against cheap textile imports as slow orders from big retailers have caused inventories to pile up. Last year, DuPont cut 2,000 jobs from its nylon and polyester fibers business, shutting down some manufacturing lines. Nylon sales fell 14 percent last year, while polyester sales dropped 17 percent. DuPont, which this year is marking its 200th anniversary, has said it plans to reorganize along five business lines: electronic and communication technologies; performance materials; coatings and color technologies; agriculture and nutrition; and safety.