re: Top Ten Movers and Shakers in TelecomLet's talk about literal hogs -- how about the ten fattest people in telecom? In this industry that would be a competitive list. Maybe Matt will be on more than one list?
re: Top Ten Movers and Shakers in TelecomHumm, I missed that one. It got zero comments, which I can only attribute to the date being the first day back for most people.
I suggest you do it during the Christmas run-up, when the majority of the un-employed (many at the hands of these lovely people) are wondering how they are going to pay their rent and buy food let alone get the kids some presents.
The unemployment rate in Silicon Valley is worse than it was in the deepest part of the '29 to '32 Depression (anywhere in the country), worse than Detroit after Japanese autos hit, etc. There are entire square industrial blocks here with nothing but "Space Available" signs on them. Commercial rent is 0.60 per square NNN (and still dropping), with a years worth of TI thrown in (going to 18 months worth).
In the midst of that misery, to see the Fat Cats purring is really over the top...
re: Top Ten Movers and Shakers in Telecom"Yes the unemployment rate in the Valley is high, but every report I am seeing points to around 7 to 7.5% range, and probably going to around 6-6.5% in the forecast for 2004."
It's really really bad, but I will admit it doesn't look that bad.
The rate you quote does not count the 50 to 100K people, mostly H1B's that were here and now are gone. Back to China and India. Mostly.
And as I am sure you are aware, if you are unemployed for over 90 days they drop you into another category called discouraged (or the equivalent). Consider the reported unemployment rate a rolling rate.
With the cost of housing in The Valley being what it is, you need two incomes or an IPO (or a rich Daddy) to buy. Most of my older friends are managing on one income, savings, and credit cards.
A couple of the have maxed out their cards and are going through various forms of bankruptcy. One friends wife is still working; so they get (forced) help from a credit counselor. One is losing his home, but will get some money out of the sale to continue to live on for another year, since apartment rents have dropped (what with all the H1B's leaving) to near-free.
I am lucky to have a great job, and multiple offers, even in this market. And I agree things are picking up. I just feel for those who will have to wait another six months 'till they see light.
In the better days, I could do more for them than listen, I could get them a job. Watching pigs take a big chunk of change and then fiddle while their companies burn is frustrating.
re: Top Ten Movers and Shakers in TelecomWhyiswhy, et al:
Why the doom and gloom? Man that's so last year. Just kidding. My wife says that about my clothes. Thought I'd throw it out. Sorry.
Yes the unemployment rate in the Valley is high, but every report I am seeing points to around 7 to 7.5% range, and probably going to around 6-6.5% in the forecast for 2004. Office space is affordable again and I have a hard time feeling sorry for the greedy SOBs who stuck it to the technology world in the heyday, talking about their high vacancy rates. Let them starve. They created a lot of misery for a lot of companies and a lot of people went out of business due to high rents alone. Those fuc_heads. I digress.
The traffic loads are back (that sucks but it means things are picking up doesn't it?), there are lots of new companies getting started, those who survived the last three years are looking pretty good (possibly stronger than they would have, had the lame companies hung in there and kept the noise levels in the market on full volume). I also see public companies starting to hire again and their balance sheets are still strong from great runs and big liquidity events in earlier years. Interest rates remain low and the macro economic picture in the U.S. looks decent, finally.
I think the Governator will help business too, and now our cool factor is back. Time to party!
re: Top Ten Movers and Shakers in TelecomA few more, well-deserved, nominations:
Rich McGinn: an obvious candidate for the #2 slot! (#1 is permanently reserved for Matt Bross)
Mory Ejabat and Jeanette Symons: squandering $500 million in 4 years certainly qualifies them! Plus they are so "brilliant" that they list ONLY themselves in the Zhone management team on the web page. What ego!
Jack Grubman: definitely! Let's hope the SEC takes all that money back in fines (wishful thinking).
...and I'll add one more nomination in the name of Bernie Ebbers. Let's hope his hopefully future cell-mates enjoy his cow-boy look.
So the updated list is now (in order of appearence):
re: Top Ten Movers and Shakers in Telecom"It appears whyiswhy got trained under the Big Man - Mr Bill, who made the headlines when he testified, " I did not have sex with that woman - Lewinski" :-)"
Wha? I ran over to left field and that one still missed me.
Actually, you misquoted the man. There was an audible pause (period) between the words "that woman" and the words "Ms Lewinski".
So technically, he told the truth. Got to admire an exceutive in trouble who listens to good legal counsel (Hilary). Saved his butt in Whitewater too.
re: Top Ten Movers and Shakers in Telecomwhyiswhy writes "It's really really bad, but I will admit it doesn't look that bad.".
It appears whyiswhy got trained under the Big Man - Mr Bill, who made the headlines when he testified, " I did not have sex with that woman - Lewinski" :-)
re: Top Ten Movers and Shakers in Telecomwhat about Carly Fiorina.
After all the blunders she made or that were made under her watch at Lucent, she managed to jump ship to HP (telling them that they needed someone with her achievement from Lucent). She managed to make sales by using all types of avenues, federal lobbyists to get foreign contracts (re Saudi Arabia), twisting the arms of CTO and CIO of prospective customers to make sales etc.
Once she got to HP, she tries to use the same MO to twist the arm of Deutsche Bank to get their votes for the merger with Compaq and after a quarter of supposedly subtantial gain in sales , she came out to reveal that HP has been too aggressive about its pricing of its PCs. On the same day, Dell decided to further reduce its price levels on some items. Talk about trying to put a fight with Dell. Forget it. Dinosaur mentality v/s insurgents
re: Top Ten Movers and Shakers in TelecomSo after WWI, manufacturing moved from Europe to the US. Germany resisted the move by going Military. I mean, that is how Hitler got so popular: by providing jobs for the middle class. Which lead to WWII. The Fifties saw manufacturing begin to move to Japan, and so in the 60's we went Aerospace and landed on the moon. By the end of the 60's Japan made all the radios, TVs, etc. And we went Military and had Vietnam, then Star Wars, which took us through the 80's.
The 90's saw manufacturing begin to move to China and SEA, and by the 00's, it is a done deal. We went Military again, this time more or less all of the ME.
The only things likely to continue to be manufactured here are autos, airplanes, as in Military equipment, and drugs. Two reasons on autos: 1) transportation costs are high for cheap cars, but not so for expensive cars, 2) unions and companies cooperated to make laws requiring percentages of (labor) content. Military equipment is obvious to stay here. Medicines will stay here as long as the drug companies get favorable treatment from Congress, namely, rape the US consumer in price.
The rest of the US economy is oil refinement to make gasoline and petrochemicals, agriculture like corn, rice, wheat, and some raw materials like Copper, etc.
re: Top Ten Movers and Shakers in Telecomtons of tech persons ( making 60k-100K salary ) are dropped out of unemployment list , in the mean time wall mart and the likes hire more people , so that maintains the unemployment rate to 7,8% to the delight of politicians that the worst is over. no , don't delude yourself , things are not picking up . what we are producing here ( that china and india cannot produce ) that make things picking up ? we are going through a huge repricing , that will take years before equilibrum will be achieve , in the mean time try to get a job in the film industry with the New Governor Arnold.
I suggest you do it during the Christmas run-up, when the majority of the un-employed (many at the hands of these lovely people) are wondering how they are going to pay their rent and buy food let alone get the kids some presents.
The unemployment rate in Silicon Valley is worse than it was in the deepest part of the '29 to '32 Depression (anywhere in the country), worse than Detroit after Japanese autos hit, etc. There are entire square industrial blocks here with nothing but "Space Available" signs on them. Commercial rent is 0.60 per square NNN (and still dropping), with a years worth of TI thrown in (going to 18 months worth).
In the midst of that misery, to see the Fat Cats purring is really over the top...
Legs!
-Why
It's really really bad, but I will admit it doesn't look that bad.
The rate you quote does not count the 50 to 100K people, mostly H1B's that were here and now are gone. Back to China and India. Mostly.
And as I am sure you are aware, if you are unemployed for over 90 days they drop you into another category called discouraged (or the equivalent). Consider the reported unemployment rate a rolling rate.
With the cost of housing in The Valley being what it is, you need two incomes or an IPO (or a rich Daddy) to buy. Most of my older friends are managing on one income, savings, and credit cards.
A couple of the have maxed out their cards and are going through various forms of bankruptcy. One friends wife is still working; so they get (forced) help from a credit counselor. One is losing his home, but will get some money out of the sale to continue to live on for another year, since apartment rents have dropped (what with all the H1B's leaving) to near-free.
I am lucky to have a great job, and multiple offers, even in this market. And I agree things are picking up. I just feel for those who will have to wait another six months 'till they see light.
In the better days, I could do more for them than listen, I could get them a job. Watching pigs take a big chunk of change and then fiddle while their companies burn is frustrating.
-Why
Why the doom and gloom? Man that's so last year. Just kidding. My wife says that about my clothes. Thought I'd throw it out. Sorry.
Yes the unemployment rate in the Valley is high, but every report I am seeing points to around 7 to 7.5% range, and probably going to around 6-6.5% in the forecast for 2004. Office space is affordable again and I have a hard time feeling sorry for the greedy SOBs who stuck it to the technology world in the heyday, talking about their high vacancy rates. Let them starve. They created a lot of misery for a lot of companies and a lot of people went out of business due to high rents alone. Those fuc_heads. I digress.
The traffic loads are back (that sucks but it means things are picking up doesn't it?), there are lots of new companies getting started, those who survived the last three years are looking pretty good (possibly stronger than they would have, had the lame companies hung in there and kept the noise levels in the market on full volume). I also see public companies starting to hire again and their balance sheets are still strong from great runs and big liquidity events in earlier years. Interest rates remain low and the macro economic picture in the U.S. looks decent, finally.
I think the Governator will help business too, and now our cool factor is back. Time to party!
So why worry, why?
Rich McGinn: an obvious candidate for the #2 slot! (#1 is permanently reserved for Matt Bross)
Mory Ejabat and Jeanette Symons: squandering $500 million in 4 years certainly qualifies them! Plus they are so "brilliant" that they list ONLY themselves in the Zhone management team on the web page. What ego!
Jack Grubman: definitely! Let's hope the SEC takes all that money back in fines (wishful thinking).
...and I'll add one more nomination in the name of Bernie Ebbers. Let's hope his hopefully future cell-mates enjoy his cow-boy look.
So the updated list is now (in order of appearence):
1 - Pat Russo
2 - Vinod Khosla
3 - Matt Bross
4 - Rich McGinn
5 - Mory Ejabat
6 - Jeanette Symons
7 - Jack Grubman
8 - Bernie Ebbers
9 -
10 -
Common... we need two more!
Please state your reason for the nomination.
Wha? I ran over to left field and that one still missed me.
Actually, you misquoted the man. There was an audible pause (period) between the words "that woman" and the words "Ms Lewinski".
So technically, he told the truth. Got to admire an exceutive in trouble who listens to good legal counsel (Hilary). Saved his butt in Whitewater too.
:-)
-Why
It appears whyiswhy got trained under the Big Man - Mr Bill, who made the headlines when he testified, " I did not have sex with that woman - Lewinski" :-)
After all the blunders she made or that were made under her watch at Lucent, she managed to jump ship to HP (telling them that they needed someone with her achievement from Lucent).
She managed to make sales by using all types of avenues, federal lobbyists to get foreign contracts (re Saudi Arabia), twisting the arms of CTO and CIO of prospective customers to make sales etc.
Once she got to HP, she tries to use the same MO to twist the arm of Deutsche Bank to get their votes for the merger with Compaq and after a quarter of supposedly subtantial gain in sales , she came out to reveal that HP has been too aggressive about its pricing of its PCs. On the same day, Dell decided to further reduce its price levels on some items. Talk about trying to put a fight with Dell.
Forget it. Dinosaur mentality v/s insurgents
The 90's saw manufacturing begin to move to China and SEA, and by the 00's, it is a done deal. We went Military again, this time more or less all of the ME.
The only things likely to continue to be manufactured here are autos, airplanes, as in Military equipment, and drugs. Two reasons on autos: 1) transportation costs are high for cheap cars, but not so for expensive cars, 2) unions and companies cooperated to make laws requiring percentages of (labor) content. Military equipment is obvious to stay here. Medicines will stay here as long as the drug companies get favorable treatment from Congress, namely, rape the US consumer in price.
The rest of the US economy is oil refinement to make gasoline and petrochemicals, agriculture like corn, rice, wheat, and some raw materials like Copper, etc.
Chips and dips...gone.
no , don't delude yourself , things are not picking up . what we are producing here ( that china and india cannot produce ) that make things picking up ?
we are going through a huge repricing , that will take years before equilibrum will be achieve , in the mean time try to get a job in the film industry with the New Governor Arnold.