Go to Jeff Salisbury LWGate Home Page.From: "Logan, Scott L." <slogan@gosafeguard.com>
Subject: RE: [CANSLIM] Worley's Weekend Weeview
Date: Fri, 11 Oct 2002 10:17:27 -0500
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Rocky,
Here is a prime example of our discussion. 1600 more people which will
probably try and obtain service sector jobs...
____________________________________________________________________________
_____________________
Maytag to Close Plant, Cut 1600 Jobs
Friday October 11, 10:23 am ET
NEWTON, Iowa (Reuters) - No. 3 U.S. home appliance maker Maytag Corp.
(NYSE:MYG - News) said on Friday it plans to close a refrigeration plant in
Illinois and cut nearly 8 percent of its work force in an effort to cut
costs.
ADVERTISEMENT
Maytag said its refrigeration plan calls for the construction of a new
refrigeration production facility in Reynosa, Mexico. The new plant,
expected to open in late 2003, will be located on the site of an existing
Maytag subassembly operation and will make side-by-side refrigerators.
The company said 1,600 employees work at the Galesburg, Illinois,
refrigeration products facility, which it expects to close by late 2004.
Maytag employs more than 21,000 people around the world.
- -----Original Message-----
From: Rocky Sanghvi [mailto:rs@mylodestar.com]
Sent: Wednesday, October 09, 2002 12:32 PM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] Worley's Weekend Weeview
Appreciate everyone's comments on this extremely important issue. Its
actually not just the unions - the implications are bigger. Each and every
industry in this country eventually is supported in some way by
Manufacturing. Think about it!!!
Look at any service industry - say Banking or Information Technology
consulting, Insurance or whatever:
They provide services either to Manufacturing & related companies
(Suppliers, Distributors) or to people who work in Manufacturing & related
companies.
Someone mentioned that we are a Service economy. This in itself is not
possible. Lets try to imagine a country in which the only jobs are service
related. Meaning a Insurance company insuring a Bank. Ok and how does the
bank make money - ok I guess from the IT consulting company. Explore this
tree long enough and you realize that at the bottom of it are the companies
that make real, tangible goods. Is Microsoft a manufacturer? YES
absolutely.
Can Services be a self funding industry without there being actual
production of any goods? No way. So when I look at the long term decline
in Mfg in this country - its really scary stuff. Yeah sure GE makes a lot
of money by outsourcing to China and Mexico and Eastern europe and therefore
makes American stock holders money - but the question is - what does
outsourcing mfg offshore do to our economy? In effect we are distributing
our wealth to nations like China and mexico. Make no mistake about it -
manufacturing is a country's wealth. Whether its manufacturing software or
making widgets manufacturing a tangible item is what our economy is based
on.
I cant imagine free trade continuing to work in its present day form. We
will be forced to make some tough decisions -
* Make offshore manufacturer's buy our products of our service
industry.
* Levy quotas on goods imported for distressed industries
* Levy quotas on making offshore manufacturers to make a certain
quota of goods in the USA.
Does this sound xenophobic or gargantuan? Maybe - but I don't see a way
around it.
Rocky
- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Logan, Scott L.
Sent: Tuesday, October 08, 2002 4:56 PM
To: 'canslim@lists.xmission.com'
Subject: RE: [CANSLIM] Worley's Weekend Weeview
Rocky,
Thank you for your comments.
My father has been in the transportation industry( trucking ) for 30 years.
I have listened to many accounts of manufacturing facilities that were once
shipping freight locally here in Texas move out of the country, or just go
belly up not being able to match foreign prices( China, and Mexico in
particular).
The unions are just tightening the noose around their own necks.
Scott
- -----Original Message-----
From: Rocky Sanghvi [mailto:rs@mylodestar.com]
Sent: Tuesday, October 08, 2002 3:44 PM
To: canslim@lists.xmission.com
Subject: RE: [CANSLIM] Worley's Weekend Weeview
Scott,
I work extensively with Manufacturing companies throughout the country and I
completely agree with your comments.
One of the lessons coming home to roost is that you cant have an economy
based entirely on the Service sector. A society has to MAKE something
tangible to have a thriving economy.
Rocky
- -----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com] On Behalf Of Logan, Scott L.
Sent: Tuesday, October 08, 2002 4:08 PM
To: 'canslim@lists.xmission.com'
Subject: RE: [CANSLIM] Worley's Weekend Weeview
I don't think the American public has realized the effects of losing our
manufacturing jobs. Thousands of good paying blue collar jobs are
disappearing from our landscape. But I like most everyone else enjoy the low
cost goods that American factories( and Unions ) have priced themselves out
of.
- -----Original Message-----
From: Tom Worley [mailto:stkguru@bellsouth.net]
Sent: Sunday, October 06, 2002 10:32 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Worley's Weekend Weeview
ISM (Institute of Supply Management, formerly known as NAPM - Nat'l Assn of
Purchasing Managers) produces two major monthly reports, one on
manufacturing, and one on the service sector. Both reports (indexes)
consist of a number of sub-components, including an employment factor which
is used to measure increase / decrease in actual jobs. Both reports this
week showed that more jobs were being lost in Sept than in Aug, even tho the
service sector report showed a strong gain overall. For some years now, the
manufacturing sector has been losing jobs while the service sector has been
gaining. It's unusual for both to lose jobs, and dovetails with most other
employment data (except for Labor's reports).
here's CNN's version of the report
http://money.cnn.com/2002/10/03/news/economy/ism_services.reut/index.htm
<http://money.cnn.com/2002/10/03/news/economy/ism_services.reut/index.htm>
- ----- Original Message -----
From: Ann <mailto:annholly@attbi.com>
To: canslim@lists.xmission.com <mailto:canslim@lists.xmission.com>
Sent: Sunday, October 06, 2002 11:19 AM
Subject: Re: [CANSLIM] Worley's Weekend Weeview
Tom, can you please explain this paragraph?
Thanks,
Ann
ISM reports that September service sector growth jumped a full 3 percentage
points to 53.9%, eighth straight month of growth, and well over expectations
of a gain to 51.4%. As mentioned above, the rate of layoffs accelerated with
the employment factor down to 46.6% from 47.3%, the 19th straight month of
job losses.
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<DIV><SPAN class=453321615-11102002><FONT face=Arial color=#0000ff
size=2>Rocky,</FONT></SPAN></DIV>
<DIV><SPAN class=453321615-11102002><FONT face=Arial color=#0000ff
size=2> Here is a prime example of our discussion. 1600 more people which
will probably try and obtain service sector jobs...</FONT></SPAN></DIV>
<DIV><SPAN class=453321615-11102002><FONT face=Arial color=#0000ff
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=453321615-11102002><FONT face=Arial color=#0000ff
size=2>_________________________________________________________________________________________________</FONT></SPAN></DIV>
<DIV><SPAN class=453321615-11102002><FONT face=Arial color=#0000ff size=2>Maytag
to Close Plant, Cut 1600 Jobs <BR>Friday October 11, 10:23 am ET
</FONT></SPAN></DIV>
<DIV> </DIV><SPAN class=453321615-11102002><FONT face=Arial color=#0000ff
size=2>
<DIV><BR>NEWTON, Iowa (Reuters) - No. 3 U.S. home appliance maker Maytag Corp.
(NYSE:MYG - News) said on Friday it plans to close a refrigeration plant in
Illinois and cut nearly 8 percent of its work force in an effort to cut
costs.<BR>ADVERTISEMENT<BR> <BR>Maytag said its refrigeration plan
calls for the construction of a new refrigeration production facility in
Reynosa, Mexico. The new plant, expected to open in late 2003, will be located
on the site of an existing Maytag subassembly operation and will make
side-by-side refrigerators.</DIV>
<DIV> </DIV>
<DIV>The company said 1,600 employees work at the Galesburg, Illinois,
refrigeration products facility, which it expects to close by late 2004. Maytag
employs more than 21,000 people around the world.</DIV>
<DIV> </DIV>
<DIV></FONT></SPAN> </DIV>
<BLOCKQUOTE dir=ltr style="MARGIN-RIGHT: 0px">
<DIV class=OutlookMessageHeader dir=ltr align=left><FONT face=Tahoma
size=2>-----Original Message-----<BR><B>From:</B> Rocky Sanghvi
[mailto:rs@mylodestar.com]<BR><B>Sent:</B> Wednesday, October 09, 2002 12:32
PM<BR><B>To:</B> canslim@lists.xmission.com<BR><B>Subject:</B> RE: [CANSLIM]
Worley's Weekend Weeview<BR><BR></FONT></DIV>
<DIV class=Section1>
<DIV>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN style="FONT-SIZE: 12pt; COLOR: navy">Appreciate
everyone's comments on this extremely important issue. Its actually not
just the unions - the implications are bigger. Each and every
industry in this country eventually is supported in some way by
Manufacturing. Think about it!!! </SPAN></FONT></P>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN style="FONT-SIZE: 12pt; COLOR: navy">Look at any
service industry - say Banking or Information Technology consulting, Insurance
or whatever: </SPAN></FONT></P>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN style="FONT-SIZE: 12pt; COLOR: navy">They provide
services either to Manufacturing & related companies (Suppliers,
Distributors) or to people who work in Manufacturing & related
companies. </SPAN></FONT></P>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN
style="FONT-SIZE: 12pt; COLOR: navy"></SPAN></FONT> </P>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN style="FONT-SIZE: 12pt; COLOR: navy">Someone mentioned
that we are a Service economy. This in itself is not possible.
Lets try to imagine a country in which the only jobs are service
related. Meaning a Insurance company insuring a Bank. Ok and
how does the bank make money - ok I guess from the IT consulting
company. Explore this tree long enough and you realize that at the
bottom of it are the companies that make real, tangible goods. Is
Microsoft a manufacturer? YES absolutely. </SPAN></FONT></P>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN
style="FONT-SIZE: 12pt; COLOR: navy"></SPAN></FONT> </P>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN style="FONT-SIZE: 12pt; COLOR: navy">Can Services be a
self funding industry without there being actual production of any
goods? No way. So when I look at the long term decline in Mfg in
this country - its really scary stuff. Yeah sure GE makes a lot of money
by outsourcing to China and Mexico and Eastern europe and therefore makes
American stock holders money - but the question is - what does outsourcing mfg
offshore do to our economy? In effect we are distributing our wealth to
nations like </SPAN></FONT><FONT color=navy><SPAN
style="COLOR: navy">China</SPAN></FONT><FONT color=navy><SPAN
style="COLOR: navy"> and </SPAN></FONT><FONT color=navy><SPAN
style="COLOR: navy">mexico</SPAN></FONT><FONT color=navy><SPAN
style="COLOR: navy">. Make no mistake about it - manufacturing is a
country's wealth. Whether its manufacturing software or making widgets
manufacturing a tangible item is what our economy is based on.
</SPAN></FONT></P>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN
style="FONT-SIZE: 12pt; COLOR: navy"></SPAN></FONT> </P>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN style="FONT-SIZE: 12pt; COLOR: navy">I cant imagine
free trade continuing to work in its present day form. We will be forced
to make some tough decisions - </SPAN></FONT></P>
<P class=MsoAutoSig
style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -0.25in; MARGIN-RIGHT: 0in"><FONT
face=Symbol color=navy size=3><SPAN
style="FONT-SIZE: 12pt; COLOR: navy; FONT-FAMILY: Symbol">·<FONT
face="Times New Roman" size=1><SPAN
style="FONT: 7pt 'Times New Roman'">
</SPAN></FONT></SPAN></FONT><FONT color=navy><SPAN style="COLOR: navy">Make
offshore manufacturer's buy our products of our service industry.
</SPAN></FONT></P>
<P class=MsoAutoSig
style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -0.25in; MARGIN-RIGHT: 0in"><FONT
face=Symbol color=navy size=3><SPAN
style="FONT-SIZE: 12pt; COLOR: navy; FONT-FAMILY: Symbol">·<FONT
face="Times New Roman" size=1><SPAN
style="FONT: 7pt 'Times New Roman'">
</SPAN></FONT></SPAN></FONT><FONT color=navy><SPAN style="COLOR: navy">Levy
quotas on goods imported for distressed industries</SPAN></FONT></P>
<P class=MsoAutoSig
style="MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -0.25in; MARGIN-RIGHT: 0in"><FONT
face=Symbol color=navy size=3><SPAN
style="FONT-SIZE: 12pt; COLOR: navy; FONT-FAMILY: Symbol">·<FONT
face="Times New Roman" size=1><SPAN
style="FONT: 7pt 'Times New Roman'">
</SPAN></FONT></SPAN></FONT><FONT color=navy><SPAN style="COLOR: navy">Levy
quotas on making offshore manufacturers to make a certain quota of goods in
the </SPAN></FONT><FONT color=navy><SPAN
style="COLOR: navy">USA</SPAN></FONT><FONT color=navy><SPAN
style="COLOR: navy">. </SPAN></FONT></P>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN
style="FONT-SIZE: 12pt; COLOR: navy"></SPAN></FONT> </P>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN style="FONT-SIZE: 12pt; COLOR: navy">Does this sound
xenophobic or gargantuan? Maybe - but I don't see a way around it.
</SPAN></FONT></P>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN
style="FONT-SIZE: 12pt; COLOR: navy"></SPAN></FONT> </P>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN
style="FONT-SIZE: 12pt; COLOR: navy">Rocky</SPAN></FONT></P>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN
style="FONT-SIZE: 12pt; COLOR: navy"></SPAN></FONT> </P>
<P class=MsoAutoSig style="MARGIN: 0in 0in 0pt"><FONT face="Times New Roman"
color=navy size=3><SPAN
style="FONT-SIZE: 12pt; COLOR: navy"></SPAN></FONT> </P></DIV>
<P class=MsoNormal><FONT face=Arial color=navy size=2><SPAN
style="FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial"></SPAN></FONT> </P>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face=Tahoma size=2><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">-----Original
Message-----<BR><B><SPAN style="FONT-WEIGHT: bold">From:</SPAN></B>
owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]
<B><SPAN style="FONT-WEIGHT: bold">On Behalf Of </SPAN></B>Logan, Scott
L.<BR><B><SPAN style="FONT-WEIGHT: bold">Sent:</SPAN></B> Tuesday, October 08,
2002 4:56 PM<BR><B><SPAN style="FONT-WEIGHT: bold">To:</SPAN></B>
'canslim@lists.xmission.com'<BR><B><SPAN
style="FONT-WEIGHT: bold">Subject:</SPAN></B> RE: [CANSLIM] Worley's Weekend
Weeview</SPAN></FONT></P>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman"
size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face=Arial color=blue
size=2><SPAN
style="FONT-SIZE: 10pt; COLOR: blue; FONT-FAMILY: Arial">Rocky,</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face=Arial color=blue
size=2><SPAN
style="FONT-SIZE: 10pt; COLOR: blue; FONT-FAMILY: Arial"> Thank you for
your comments. </SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face=Arial color=blue
size=2><SPAN style="FONT-SIZE: 10pt; COLOR: blue; FONT-FAMILY: Arial">My
father has been in the transportation industry( trucking ) for 30 years. I
have listened to many accounts of manufacturing facilities that were once
shipping freight locally here in Texas move out of the country, or just go
belly up not being able to match foreign prices( China, and Mexico in
particular).</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman"
size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face=Arial color=blue
size=2><SPAN style="FONT-SIZE: 10pt; COLOR: blue; FONT-FAMILY: Arial">The
unions are just tightening the noose around their own
necks.</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman"
size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman"
size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face=Arial color=blue
size=2><SPAN
style="FONT-SIZE: 10pt; COLOR: blue; FONT-FAMILY: Arial">Scott</SPAN></FONT></P></DIV>
<BLOCKQUOTE style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-RIGHT: 0in">
<P class=MsoNormal
style="MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 0.5in; MARGIN-RIGHT: 0in"><FONT
face=Tahoma size=2><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">-----Original
Message-----<BR><B><SPAN style="FONT-WEIGHT: bold">From:</SPAN></B> Rocky
Sanghvi [mailto:rs@mylodestar.com]<BR><B><SPAN
style="FONT-WEIGHT: bold">Sent:</SPAN></B> Tuesday, October 08, 2002 3:44
PM<BR><B><SPAN style="FONT-WEIGHT: bold">To:</SPAN></B>
canslim@lists.xmission.com<BR><B><SPAN
style="FONT-WEIGHT: bold">Subject:</SPAN></B> RE: [CANSLIM] Worley's Weekend
Weeview</SPAN></FONT></P>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face=Arial color=navy
size=2><SPAN
style="FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">Scott,</SPAN></FONT></P>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman"
size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face=Arial color=navy
size=2><SPAN style="FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">I work
extensively with Manufacturing companies throughout the country and I
completely agree with your comments. </SPAN></FONT></P>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><B><FONT
face="Times New Roman" color=navy size=3><SPAN
style="FONT-WEIGHT: bold; FONT-SIZE: 12pt; COLOR: navy">One of the lessons
coming home to roost is that you cant have an economy based entirely on the
Service sector. A society has to MAKE something tangible to have a
thriving economy. </SPAN></FONT></B></P>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><FONT face="Times New Roman"
size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P>
<P class=MsoNormal style="MARGIN-LEFT: 0.5in"><B><FONT
face="Times New Roman" color=navy size=3><SPAN
style="FONT-WEIGHT: bold; FONT-SIZE: 12pt; COLOR: navy">Rocky</SPAN></FONT></B></P>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face=Tahoma size=2><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">-----Original
Message-----<BR><B><SPAN style="FONT-WEIGHT: bold">From:</SPAN></B>
owner-canslim@lists.xmission.com [mailto:owner-canslim@lists.xmission.com]
<B><SPAN style="FONT-WEIGHT: bold">On Behalf Of </SPAN></B>Logan, Scott
L.<BR><B><SPAN style="FONT-WEIGHT: bold">Sent:</SPAN></B> Tuesday, October
08, 2002 4:08 PM<BR><B><SPAN style="FONT-WEIGHT: bold">To:</SPAN></B>
'canslim@lists.xmission.com'<BR><B><SPAN
style="FONT-WEIGHT: bold">Subject:</SPAN></B> RE: [CANSLIM] Worley's Weekend
Weeview</SPAN></FONT></P>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face="Times New Roman"
size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face=Arial color=blue
size=2><SPAN style="FONT-SIZE: 10pt; COLOR: blue; FONT-FAMILY: Arial">I
don't think the American public has realized the effects of losing our
manufacturing jobs. Thousands of good paying blue collar jobs are
disappearing from our landscape. But I like most everyone else enjoy the low
cost goods that American factories( and Unions ) have priced themselves
out of.</SPAN></FONT></P></DIV>
<BLOCKQUOTE
style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt; MARGIN-RIGHT: 0in"><P
class=MsoNormal
style="MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 1in; MARGIN-RIGHT: 0in"><FONT
face=Tahoma size=2><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">-----Original
Message-----<BR><B><SPAN style="FONT-WEIGHT: bold">From:</SPAN></B> Tom
Worley [mailto:stkguru@bellsouth.net]<BR><B><SPAN
style="FONT-WEIGHT: bold">Sent:</SPAN></B> Sunday, October 06, 2002 10:32
AM<BR><B><SPAN style="FONT-WEIGHT: bold">To:</SPAN></B>
canslim@lists.xmission.com<BR><B><SPAN
style="FONT-WEIGHT: bold">Subject:</SPAN></B> Re: [CANSLIM] Worley's
Weekend Weeview</SPAN></FONT></P>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face=Arial size=3><SPAN
style="FONT-SIZE: 12pt; FONT-FAMILY: Arial">ISM (Institute of Supply
Management, formerly known as NAPM - Nat'l Assn of Purchasing Managers)
produces two major monthly reports, one on manufacturing, and one on the
service sector. Both reports (indexes) consist of a number of
sub-components, including an employment factor which is used to measure
increase / decrease in actual jobs. Both reports this week showed
that more jobs were being lost in Sept than in Aug, even tho the service
sector report showed a strong gain overall. For some years now, the
manufacturing sector has been losing jobs while the service sector has
been gaining. It's unusual for both to lose jobs, and dovetails with most
other employment data (except for Labor's
reports).</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face="Times New Roman"
size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face=Arial size=3><SPAN
style="FONT-SIZE: 12pt; FONT-FAMILY: Arial">here's CNN's version of the
report</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face=Arial size=3><SPAN
style="FONT-SIZE: 12pt; FONT-FAMILY: Arial"><A
href="http://money.cnn.com/2002/10/03/news/economy/ism_services.reut/index.htm">http://money.cnn.com/2002/10/03/news/economy/ism_services.reut/index.htm</A></SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face="Times New Roman"
size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face=Arial size=2><SPAN
style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">----- Original Message -----
</SPAN></FONT></P>
<DIV style="font-color: black">
<P class=MsoNormal style="BACKGROUND: #e4e4e4; MARGIN-LEFT: 1in"><B><FONT
face=Arial size=2><SPAN
style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Arial">From:</SPAN></FONT></B><FONT
face=Arial size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"> <A
title=annholly@attbi.com href="mailto:annholly@attbi.com">Ann</A>
</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><B><FONT face=Arial
size=2><SPAN
style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Arial">To:</SPAN></FONT></B><FONT
face=Arial size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"> <A
title=canslim@lists.xmission.com
href="mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>
</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><B><FONT face=Arial
size=2><SPAN
style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Arial">Sent:</SPAN></FONT></B><FONT
face=Arial size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">
Sunday, October 06, 2002 11:19 AM</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><B><FONT face=Arial
size=2><SPAN
style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Arial">Subject:</SPAN></FONT></B><FONT
face=Arial size=2><SPAN style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"> Re:
[CANSLIM] Worley's Weekend Weeview</SPAN></FONT></P></DIV></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face="Times New Roman"
size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face=Arial size=3><SPAN
style="FONT-SIZE: 12pt; FONT-FAMILY: Arial">Tom, can you please explain
this paragraph?</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face="Times New Roman"
size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face=Arial size=3><SPAN
style="FONT-SIZE: 12pt; FONT-FAMILY: Arial">Thanks,</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face="Times New Roman"
size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face=Arial size=3><SPAN
style="FONT-SIZE: 12pt; FONT-FAMILY: Arial">Ann</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face="Times New Roman"
size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face=Arial size=3><SPAN
style="FONT-SIZE: 12pt; FONT-FAMILY: Arial">ISM reports that September
service sector growth jumped a full 3 percentage points to 53.9%, eighth
straight month of growth, and well over expectations of a gain to 51.4%.
As mentioned above, the rate of layoffs accelerated with the employment
factor down to 46.6% from 47.3%, the 19th straight month of job
losses.</SPAN></FONT></P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face="Times New Roman"
size=3><SPAN style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV>
<DIV>
<P class=MsoNormal style="MARGIN-LEFT: 1in"><FONT face="Times New Roman"
size=3><SPAN
style="FONT-SIZE: 12pt"></SPAN></FONT> </P></DIV></BLOCKQUOTE></BLOCKQUOTE></DIV></BLOCKQUOTE></BODY></HTML>
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