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Technology Stocks : Vitesse Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: David Lawrence who wrote (4234)	10/22/2002 12:54:36 AM
From: The Ox	Read Replies (1) \| Respond to of 4710

Hi David, I'm not qualified to answer your question but I would guess that 2 is the much more likely answer. I would add that a substantial portion of the capacity that was going to come online during the past couple of years hasn't - but a good deal of money was spent on projects and equipment that never ended up being implemented. Wasted capital, written of as excess inventory or bad customer debt as well as billions poured down the R+D drain. We can assume or extrapolate that since the long haul market has completely dried up, the overstated usage/demand figures were inflated on such a massive scale as to boggle the mind. The expectations were so out of whack with reality that there could only be one explanation: fraud. The problem is that the long haul food chain grew equally massive while these inflated figures were being touted as gospel. Result: Tulip Mania, lots of pain for the people who's livelihoods were being derived from this industry. There are so many other losses due to this fraud too numerous to recount here, like the slow down and almost complete elimination of the next generation broadband rollout (40 gig), to name just one.