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Top 1942. Oct 9, 2001 5:47 AM

» Rande - Lone voice tabernacle choir.

Lone voice tabernacle choir....

Tech execs cautious on market, VC

VC sees 'bear trap' amid hopes for broadband wiring

ROME (CBS.MW) -- Technology executives and venture capitalists at a Rome conference say they´re cautious about recoveries in financial markets, the U.S. economy and venture capital lending......

Venture capitalist Joe Schoendorf of Accel Partners, a firm that has raised about $3 billion in several funds, forecast a continued Nasdaq shakeout and a "bear trap" for investors who were sitting on cash and throwing money back into the stock market after its one-week rally from post-Sept. 11 lows.

"I wish I could say it was over but it´s not," said Schoendorf, who worked at Hewlett-Packard for 18 years. The venture capitalist also predicted a severe shakeout among venture capitalists, who are sitting on records amount of cash commitments from their partners.

"We´re going to have a shakeout in venture capital like we´ve never seen," he said. "You just can´t deploy the amount of cash they have efficiently."

Schoendorf also said he expected more large and small publicly traded companies to go out of business.

"We´re not done putting companies to bed," he said. "And there´ll be some big companies going."

Schoendorf, Benhamou and others, including venture capitalist Tim Draper of Draper Fisher Jurvetson, acknowledged the industry´s biggest potential was in wiring the Western world for broadband access. Currently only about 2 percent of American homes are capable of accessing the Internet at high speeds.

Eyes on mid-2002 recovery

Several executives at the gathering saw room for an economic recovery in mid-2002, as investment officers replace their aging computer equipment and prepare for faster Internet access speeds across their networks. These included Dan Warmenhoven, chief executive of storage company Network Appliance (NTAP: news, chart, profile), and Kim Polese, chief executive of enterprise software company Marimba (MRBA: news, chart, profile). See full Warmenhoven comments.

"Things always take longer than you think," said Polese, a former Sun Microsystems executive. "We´re still at the primordial ooze phase of the Internet."
_____________

"Primordial ooze phase?" That beats "early innings," doesn't it. smile

-- posted by Rande

Top 1943. Oct 9, 2001 7:55 AM

» Kirk - Re: Lone voice tabernacle choir.

In response to message posted by Rande:

"Primordial ooze phase?" That beats "early innings," doesn't it.

Well, I like to think of it as the "Tin Cans and String Phase". That came about when we got web browsers about 20 years after us scientists and engineers started to use the internet for research and we just exchanged data files. That was the "Smoke Signal Phase" of the internet. Tin cans and string was a huge improvement but the ideas being kicked around for "always connected" are emerging and failing all the time. Just recently we had much excitement with "Blue Tooth" but that seems to have failed from what I can tell. It was a great solution looking for a problem...

I think the "killer app" all are looking for will involve a natural way to organize information and to keep it at our fingertips. Microsoft outlook is a nice attempt but I am now looking at converting to it from my Netscape data and it is not easy...

-- posted by Kirk

Top 1944. Oct 9, 2001 10:39 AM

» Fred2000 - Re: While it would be nice to have an early "victory" (the annou

In response to message posted by Rande:

"The announcement that bin Ladin is in "paradise."

Rande... I'd rather they announce that all terrorists will be buried in a pigskin body bag. Perhaps that would make them think twice about suicide missions.

-- posted by Fred2000

Top 1945. Oct 9, 2001 6:12 PM

» Rande - "BEAR-on's"

"BEAR-on's"

Long ago, Barron's ceased to be a primary source of market data and statistics what with the advent of the Internet and all sorts of online resources. What was left? Commentary and insight. So long as you could get past the obnoxiously cynical editorial musings at the front and knew enough to skip the all-too-frequent doom and gloom, there was still the occasional gem. Getting harder and harder to find. The following letter to the editor seems to sum up the feelings of many. To their credit, at least, Barron's published it.

To the Editor:

Imagine the disbelief on readers' faces seeing an ardently bullish headline on the front page of "BEAR-on's." Is it possible that your publication has gone too far with its heavy-handed perpetual pessimism? You've been emphasizing for so long how the glass is half empty.... Poetic justice would be for Barron's to have to lay off a large percentage of its staff. If investors stop investing, then there won't be much for you maggots to write about, will there? Your publication has way too much influence over the retail investing community, and hopefully this influence will begin to diminish.

Jeff Gross
Wallingford, Pennsylvania

Tell us what you REALLY think, Jeff. smile

-- posted by Rande

GOP Wants Bipartisan Compromise On US Econ Stimulus Plan

Top 1946. Oct 9, 2001 11:03 PM

» JenL_2 - Bush Economic Stimulus Pkg

This from 10/9 WSJ:

By Mark H. Anderson

Despite concerns from some Democrats about remarks from President George W. Bush, top Senate Republicans Tuesday said they expect Congress and the White House to reach a bipartisan compromise on an economic stimulus package.

"It needs to be bipartisan. We'll find a way to make it bipartisan," Senate Minority Leader Trent Lott, R-Miss., said.

Democrats and Republicans began formal talks on an economic stimulus package last week that is expected to be $60 billion to $75 billion. Many Republicans, including Bush, want the package to focus on tax cuts. Democrats are pushing for spending initiatives that would help unemployed workers or give tax rebates to those who didn't receive a rebate earlier this year.

Senate Budget Chairman Kent Conrad, D-N.D., said he believes Bush's comments on what should be in the tax package "was a lapse and it's unfortunate." While Conrad accused the president of pushing an agenda that goes beyond economic stimulus, Senate Finance Chairman Max Baucus, D-Mont., said the remarks were "helpful."

Sen. Charles Grassley, R-Iowa, serves as the ranking Republican on the Senate Finance panel and termed Bush's remarks as just suggestions of what might be included in a package. "He gave out some broad principles," Grassley said.

Timing Of The Stimulus Package In Congress
Senate Majority Leader Thomas Daschle, D-S.D., said the stimulus package is likely to move through Congress in the next couple weeks, putting final action near the end of October at the earliest.

Grassley, likewise, said he would like the Senate and House tax-writing committees to be near completion on an economic stimulus this week. "I hope we pretty much have a package put together by the end of this week," Grassley said.

Grassley and other senators also said they want the House and Senate to sign off on the same package so the stimulus can move quickly through Congress. Some House lawmakers want that chamber to enact their own version before working out a final version with the Senate.

While this process is the routine way in which bills are debated in Congress, it takes longer to move a bill through the regular order and Congress is near the end of its 2001 session.

Subscribe to WSJ Online @ http://www.wsj.com

.....Jen

-- posted by JenL_2

Top 1947. Oct 10, 2001 6:05 AM

» lcha - Re: "BEAR-on's"

In response to message posted by Rande:
Your publication has way too much influence over the retail investing community, and hopefully this influence will begin to diminish.

What a load of BS. Did Barron's pessimism over the last 3-5 years stop stock market investors from creating the largest financial bubble in the entire history of our stock market? Doesn't sound like too much influence too me.

Barron's is the counter to the excessively bullish Wall Street brokerages, investment houses and mutual funds that make tons of money when stocks go up and who DO have excessive influence over retail investors. We've already discussed the conflict of interest here ad nauseam so I won't go into that.

Maybe Barron's, in pointing out the risk of investing, is good for people who view the stock market as either a casino or a one way street to riches. Maybe the economic and financial fallout we are dealing with now from the excesses of 1998-2000 would not be an issue had MORE people read Barron's.

-- posted by lcha

Top 1948. Oct 10, 2001 6:17 AM

» Rande - Re: Re: "BEAR-on's"

In response to message posted by lcha:

Another view might be that publications such as Barron's are part of the real problem facing individual investors -- noise. Doesn't matter if it's overly bullish or overly bearish, the drumbeat for action, any action for the sake of action, is the problem. Barron's is no better than the one-trick ponies on the overly bullish side insofar as either camp caused folks to move their portfolios to some unsuitable extreme. Then again, it's hard to sell magazines or newsletters when the message is one of suitable investment policy based on appropriate asset allocation and patience. But given the realities of the financial media, and faced with a choice between the optimists and the pessimists, I'd go with the optimists any day. History is on the side of the individual who has an appropriate allocation, discipline and patience.

-- posted by Rande

Top 1949. Oct 10, 2001 6:17 AM

» Not_Normal - Re: Re: "BEAR-on's"

In response to message posted by lcha:

In the spring of 2000, Barron's came out with an issue that listed some 200 companies, mostly Dot Coms, and showed how these guys were burning through cash so fast that they were destined to go out of business. Oh, and people yelled and screamed that "it can't happen here."

Well, guess what?

-- posted by Not_Normal

Top 1950. Oct 10, 2001 7:35 AM

» lcha - Re: Re: Re: "BEAR-on's"

In response to message posted by Rande:

History is on the side of the individual who has an appropriate allocation, discipline and patience.

I totally agree here. But proper investing is like maintaining a proper diet. Most people know what to do they just have a hard time doing it. And financial news is like food commercials that run all night. A poor but steady influence for a proper diet.

-- posted by lcha