Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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.

Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Stephen who wrote (40159)	10/8/2002 8:34:22 PM
From: Stephen	Respond to of 52237

fwiw .. here's the 3M article. This guy sounds too much like John Chambers for my liking ... LOL. Can one assume that 'not positive' means negative ... and that the impact is somewhere between better than 'bringing the company to its knees' but not worse than 'just not servicing customers in a timely and proper manner'...... but ....that it is 'meaningful'?????. Does this qualify as FD guidance ...ggggg '3M CEO sees 'meaningful impact' from port lockout MILAN, Oct 8 (Reuters) - 3M Co. <MMM.N> has seen a "meaningful impact" from the lockout that has shut down West Coast ports and it is trying to encourage a settlement, the diversified manufacturer's chief executive said on Tuesday. "A significant portion of our Asian business is exported, so there is an impact that is not positive," said James McNerney, speaking on the sidelines of a conference in Milan. "We want to see it resolved and our people are trying to work with the politicians to get it resolved as quickly as we can." He spoke amid signs the White House would intervene in the labour dispute, which has cost the U.S. billions of dollars. President George W. Bush will seek a court order to suspend the lockout, a senior Bush administration official said on Tuesday. "I'd like to see a quick resolution that has long term staying power, and I know it's not a simple issue," McNerney said. McNerney did not quantify the impact of the lockout, but said it had affected "a wide range of products in Asia." "This is not the kind of impact on our company that's going to bring us to our knees but it's something that gets in the way of servicing our customers in a timely and proper fashion," he added. McNerney, who spoke at a forum on corporate governance, also said he expected more companies to move to increase the number of outsiders on their boards and to boost the strength of auditing committees. "In today's day and age I think it's important even for companies with strong audit processes to ask the question again, so I think you'll see more of that," he said. McNerney declined to comment on the company's third-quarter results, due for release Oct. 21. 10/08/02 14:40 ET' Best regards Stephen