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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (37652)	7/16/2002 12:01:06 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69860

THE DEAD ZONE Nortel, Cisco and Sun are competing in an unlikely business for the tech giants: office space. The three lead the ranks of companies trying to sublease unwanted offices in California’s Silicon Valley, offering a total of about 2 million square feet. Excess buildings are costing each company more than $20 million a year in rent. Prospects for finding new tenants are poor, with local real-estate brokers estimating enough space to last at least five years. In the late 90’s, developers could not build fast enough to keep up with demand. Companies rented whatever they could find, even if they did not need it, in anticipation that they would continue to grow. Now, companies are offering potential tenants incentives including discounts on telephone systems. Recently, Cisco’s brokers raffled a free trip to Mexico at a recent open house to stir interest in one of its buildings.