Monday, October 05, 2009
California is like a patient on life support
The state that was once held up as the epitome of the boundless opportunities of America has collapsed.
Unemployment in Silicon Valley topped an unprecedented 12 percent in August and is likely to get worse.
Microsoft and Intel, once significant contributors to the high-tech expansion only seem to grow now by buying smaller firms, then laying off all but a few engineers and sales staff, and, inadvertently, I suspect, stifling innovation to build support around their legacy systems.
High-tech's salad days are over and with them any hope for a quick end to the current Great Recession.
Unemployment in Silicon Valley topped an unprecedented 12 percent in August and is likely to get worse.
Microsoft and Intel, once significant contributors to the high-tech expansion only seem to grow now by buying smaller firms, then laying off all but a few engineers and sales staff, and, inadvertently, I suspect, stifling innovation to build support around their legacy systems.
High-tech's salad days are over and with them any hope for a quick end to the current Great Recession.
THIS LINK posted by Joseph Bell : 8:31 AM
