SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?


To: Jon Koplik who wrote (123319)8/19/2002 10:47:08 AM
From: Jon Koplik  Respond to of 152472
 
Part 2 : WSJ -- For Telecom Workers, Burst Of Bubble Takes Heavy Toll.

The party itself was much tamer this year. Guests were asked to bring potluck dishes, and the biggest
attraction was a big tent Mr. Dugan designed himself to save money.

Mr. Maxham attends job workshops run by various churches in the area. As every week passes, he notices
more and more of the unemployed coming. Lisa Miller, the executive director of Career/HiTech Connection,
the biggest workshop in the area, makes it her mission to keep spirits high. "You will find a job," Ms. Miller
told the crowd packing the Preston Hollow Presbyterian Church one recent Tuesday night as she explained the
importance of networking. But as the telecom crisis deepens, Mr. Maxham becomes less convinced there are
even jobs to be had. He sat with a grim look one recent night as job openings were called off, none of them for
engineers.

As Mr. Maxham's savings account dwindles to under $10,000, things are getting very shaky. He now buys
only food that is on sale, looks for the cheapest gas and has put off replacing his wife's 10-year-old car. He
won't go to a food bank because he says they give away too much meat, which he doesn't like. Repairs are
going undone. Recently, Mr. Maxham set out with sealant to repair some leaks on his roof. If he doesn't find
any work by September, he says that money will "get very tight."

It already has. Penny Maxham says that she is trying to ignore a toothache because the couple has no dental
coverage. She quit her job a couple of years ago to fulfill a dream of getting a Ph.D. in neuroscience, but she is
considering going back to work.

Once there was a time when Mr. Maxham vowed never to leave engineering. His father was an engineer, and
his three grown children are engineers. But a month ago, Mr. Maxham's unemployment benefits ran out, and
he is reconsidering. He recently applied to teach physics at a community college. A friend recently asked him
to help install some computers in cars. He is open to anything because he really needs the money.

"It's frustrating," says Mr. Maxham, who in his 30 years as an engineer earned seven patents. An eighth just
arrived in the mail last week. "I just enjoyed being an engineer so much. I was born like that and I passed it
along to my children. ... But maybe I will become a teacher, just like my dad did in the Depression."

Write to Rebecca Blumenstein at rebecca.blumenstein@wsj.com

Updated August 19, 2002

Copyright © 2002 Dow Jones & Company, Inc. All Rights Reserved