Re: Even Bigger Nightmare On Tech Street [GigaOM]

[David Farber <dave () farber net>]

Begin forwarded message:

From: dewayne () warpspeed com (Dewayne Hendricks)
Date: December 22, 2008 9:59:25 AM EST
To: Dewayne-Net Technology List <xyzzy () warpspeed com>
Subject: [Dewayne-Net] Even Bigger Nightmare On Tech Street [GigaOM]

Even Bigger Nightmare On Tech Street [GigaOM]
<http://feedproxy.google.com/~r/gigaomnetwork/~3/aVPZefG9hYE/>

The technology sector, already rocked by the credit crunch and slowing  
global economies, is facing a bleak 2009, the impact of which is going  
to be felt across the entire ecosystem. From PC makers to chipmakers  
to chip equipment makers, almost everyone is bracing for a stomach- 
churning ride.
“The problem is three times worse than everybody thinks,” said Terry  
Gou, chairman of Hon Hai Precision Industry Co., a large Taiwan-based  
contract manufacturer. According to The Wall Street Journal, he is  
looking to cut jobs in his factories, most of them in mainland China.

Now here is a man who should know the actual extent of the troubles.  
His company’s customers include Apple, Nintendo and Hewlett Packard.  
Its subsidiary, Foxconn, makes handsets for Motorola and Nokia. Any  
slowdown in orders from his end customers affects his business. Closer  
to home in Silicon Valley, companies like Cisco Systems, Hewlett- 
Packard and Adobeare shutting down for the holidays to save money.

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