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

To: StanX Long who wrote (63433)	5/5/2002 9:16:20 PM
From: StanX Long	Respond to of 70976

Lucent CEO Russo Not Counting on Rise in Phone Company Spending By Justin Baer quote.bloomberg.com Murray Hill, New Jersey, May 5 (Bloomberg) -- Lucent Technologies Inc. Chief Executive Officer Patricia Russo said the biggest U.S. maker of phone equipment can stem losses next fiscal year even without a big pickup in spending by its customers. ``We're not counting on a lot of help from the market,'' Russo said in an interview. Last month, she said Lucent would trim costs by cutting another 6,000 jobs from a workforce that's been halved in the past year. The 10 largest U.S. phone companies, a list that includes Lucent customers Verizon Communications Inc. and AT&T Corp., are on pace to spend a combined $45.2 billion this year on gear, software and other capital goods, according to a Lehman Brothers Inc. report. That's 24 percent below the 2002 budgets these companies announced in recent months, Lehman said. Analysts are split on whether carriers will issue another wave of budget-cut announcements or increase spending later in the year to make up for the first-quarter sluggishness.