RVR800,
I am sure that all of the people losing their jobs in the telecomms sector will be very relieved to hear that this recession is overstated. Those of us who are involved directly or, as in my own case, indirectly in this industry, are seeing worldwide factory closures and redundancies on a frightening scale e.g Motorola at Bathgate. This does not show up in the overall employment figures yet, but when I hear most equipment manufacturers have order books which are 50% below 2000 levels, the knock on effects are certainly going to show. These knock on effects will certainly include a reduction in expenditure on air travel because telecomms is such a global industry. For the same reason, the freight sector will also be affected.
However, one has to remain optimistic as there is no other option and it is always possible that high tech industries such as telecomms can bounce back very quickly. This will lead to the usual problems and opportunities for some, caused by production under capacity as a result of the closures and current low investment.
Sorry, as a PPL I don’t normally intrude on R & N but I thought that this discussion on recession might benefit from a few views from the front line, as it were.
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"If you keep doing what you've always done, you will keep getting what you've always got"