February 12, 2008

Street play on US markets

Just got off the phone with a good friend in CA. I asked him what's the scenario there like - are technology companies laying off people, cutting costs, reducing expense account limits? In the wake of some of the Indian ITES giants tightening up budgets and preparing for slight turbulence, are the American businesses still pulling all strings? TCS went on to even start the laying off early this season !

His casual response was - 'well on the street, people are still wearing Gucci suits and driving around in porches and ferraris'. Pretty profound i think ...




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