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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: foundation who wrote (25986)	8/23/2002 8:58:18 AM
From: foundation	Read Replies (1) \| Respond to of 196709

Siemens CFO says next year to be even tougher Reuters, Aug 23 2002 FRANKFURT, Aug 23 (Reuters) - The chief financial officer of German industrial group Siemens <SIEGn.DE> was quoted on Friday as saying its business environment would get even tougher in the next business year, while a board member warned of job cuts. Siemens has already announced 17,800 job cuts at its troubled telecoms fixed line equipment maker ICN, which has been hurt by telecoms operating companies slashing their capital expenditure budgets. "The next business year will be even tougher than the current one," chief financial officer Heinz-Joachim Neubuerger told the Siemens in-house magazine, quoted in Friday's Handelsblatt and Financial Times Deutschland. It was not in the company's interests to "lose money on businesses that have for too long failed to yield any return worth talking about," he said. Andy Mattes, the board member responsible for ICN's factories, was also quoted as saying: "In the future we will have significantly fewer factories and we will employ fewer people." And, according to Handelsblatt, chief executive Heinrich von Pierer said: "We must come to terms (with the fact) that there will not very soon be a fundamental improvement." The comments come just days after Siemens announced the latest 1,300 job cuts at the loss-making telecoms network division. In total, the company has announced more than 32,000 job cuts since last year, about seven percent of its workforce at the end of its last business year in September 2001. industryclick.com

To: foundation who wrote (25986)	8/23/2002 9:33:47 AM
From: Ramsey Su	Read Replies (1) \| Respond to of 196709

That article about Portugal is inconsistent with my notes. Portugal originally awarded 4 licenses via beauty contest back in December 2000 at $85M each. In addition, the winners were required to invest $768M in network with a deadline for lauching by Jan 2002. cellular-news.com I remember Portugal as being one of the most aggressive 3G countries in terms of time frame. Telecel, one of the winners, had already announced back in Jan 01 that they cannot meet the original Jan 2002 deadline. So much confusion. I have decided to go to Portugal next month to see for myself (hint: suvacationeffect coming).