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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (12579)	5/17/2002 10:42:20 PM
From: nspolar	Respond to of 36161

Slider, the layoffs continue, as some of us figured they would. It really isn't slowing down, just stabilizing at a high rate. As long as layoffs are continuing capex will continue to suffer. It isn't going to get any prettier.

To: SliderOnTheBlack who wrote (12579)	5/19/2002 10:34:44 AM
From: Roebear	Read Replies (4) \| Respond to of 36161

Slider, Just want to note our local paper had news of large increases coming in local property taxes, 6-12% (one lucky locality only 3%) due to shortfalls in state funding and increases in teachers pension fund contributions (no doubt due to poorly performing pension assets, which is endemic in corporate world also). This in a real estate area which is receiving an increase in property tax receipts of near 3% annual due to real estate development and which has a very healthy local economy. The implosion is just beginning. Best, Roebear