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To: fedhead who wrote (159867)	1/16/2004 5:39:50 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 164684

well I listened to the call and heard Kreins on CNBC, he said capex budgets are still declining, but they have a hot product at JNPR and are able to sell it. So it was not an "industry is on fire" call. Same thing we heard from intel (except intel doesn't have a hot product). I think networking is the worst job market, because the US is so built out, so any industry that feels there is no growth here is shifting to asia asap. But of course you and I know that no amount of growth is going to make jnpr,hp,intel,msft etc. hire here. So waiting for that lagging indicator of jobs to show up is pointless. What we should be doing with software, including your industry is finding ways of doing it more efficiently vs. right now which is very labor intensive and consequently receptive to lower priced labor. Ironically, in the case of software I think globalization actually stunted innovation. Open source software is one approach to leverage custom code written at all these millions of IT shops in the world which does basically the same thing. The open source GPL is an improvement vs what we have today, imho- this is the kind of thing we should be doing in the US to get labor costs down, improve the process. Globalization does nothing for the software industry, just prolongs the innefficiency.