Subject: [NEXTEL-1] At NFOEC 2003, Venture Capitalist Confirms Upward Industry Swing

From: [email-masked]
Date: Tue, 09 Sep 2003 20:38:51 -0400

At NFOEC 2003, Venture Capitalist Confirms Upward Industry Swing

September 9, 2003 5:05pm

Vol. 9 No. 152

ORLANDO, Fla.--While acknowledging investors do have some room to 
gripe about the current telecom state of affairs, Dr. Arun Inam, 
managing director of venture-capital group Signal Lake Ventures, 
believes the days of negativity may be behind us. "During the last 
three months, all of the major stock indices have gone up," he 
says. "It may be too hasty to say this is permanent, but it is a 
good sign." 

Speaking at a pre-National Fiber Optic Engineers Conference 2003 
workshop here, Inam pointed out that replacement cycles for capital 
equipment now has been shortened, and depreciating cycles are 
faster, thus leading to more spending. In addition, "good technology 
is available cheap," he says, explaining that profits in the near 
term may be squeezed but that demand in the long term will be 
stimulated. The continued restructuring of telecom companies also 
should be viewed as a good thing, he says, because it stabilizes 
each company and cleans up their assets. 

"Players are quitting or going bankrupt, and they are selling off 
businesses," Inam said to a relatively small crowd, partially the 
result of continued travel-budget cuts. "Survivors need to 
consolidate and to create new barriers to entry." He cited recent 
action by such carriers as Nextel [Nasdaq: NXTL], Verizon [NYSE: VZ] 
and SBC Communications [NYSE: SBC]- which have been trying to 
differentiate themselves in a competitive marketplace. Inam 
said, "There needs to be more cross-platform competition (wireline 
vs. wireless vs. cable) instead of company competing against company 
on price only." 

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