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To: MythMan who wrote (194954)	10/3/2002 8:02:12 AM
From: UnBelievable	Respond to of 436258

DJ Iraq Vice Pres/US -2: Suggests Saddam-Bush Duel "Bush wants to attack the whole of Iraq, the army and the infrastructure," Ramadan said. He suggested instead that Bush faces Saddam in formal duel - with their vice presidents as their seconds and the weapon of their choice. "In this way we are saving the American and the Iraqi people," he said. (END) DOW JONES NEWS 10-03-02 07:58 AM

To: MythMan who wrote (194954)	10/3/2002 1:08:23 PM
From: Lizzie Tudor	Respond to of 436258

How do they feel going forward? More of same in Q4? Q1 '03 Well Applied goes through these cycles all the time- they had 3 sets of layoffs last year (pretty typical) and then planned to RAMP in 03. The last layoff was 6-9 mos ago if I recall correctly. Now, as of last week, a new layoff planned which rumor says is 20% of staff that includes 1 in 4 of the managers. That is really significant and will bring them down to 50% of peak employment in 2000. (not sure about what their employment was in 95-97 timeframe maybe back to those levels). So just the magnitude of this makes me think applied mgmt is planning on no pickup whatsoever and maybe another trough forming. If you look at the b2b its still solid and given that, applied relative to past (pre-bubble) valuations is not expensive- of course its not dirt cheap either. Applied has a new technology driver too- the 300 series, new products which intel and others pretty much have to buy to stay competitive. This is all heresay fwiw. Lizzie