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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Sarmad Y. Hermiz who wrote (12380)	11/5/2003 8:21:31 AM
From: robert b furman	Respond to of 95427

From my observation while working at GM many years ago. The reduction in a work force often moves a worker from employment to retirement.This leans out the operatinjg company and transfers the retirement pay to a pension fund - which may or may not be fully funded - often times depending more on market swings than properly contributed to. My point is that often times the very negative spin put on unemployment or right sizing - is way off the mark of being a consumer with no purchasing power. This is not always the case - mant layoffs are traumatic to the individual. What is always the case is the inference that a loss of job = a loss of income.That certainly is not the case and you'll never hear about the alternate scenario I've just outlined. These exceptions are particularly dominant when you hear about old line manufacturing laying off emplyees.Very few go with out income. Our news media is absolutely incapable of providing the followup detail that goes past the eye grabbing headline. This chronicly results in a negative overshoot on perspective. It fosters the demise of shorts and once again shows that prudent investors should only bet against the American economy at blow-off tops and not during prolonged down periods. JMHO Bob