The Nasdaq was able to shake off the lousy jobs number today, and is up 31 points in mid-day trading. Apple, Dell, and Verizon are also way up – at around 3% each – as the market waits for Washington to come to terms on another bailout relief bill. The tech sector has much invested in the outcome, with tens of billions of dollars earmarked for technology research, especially in the green energy sector. Right now, the bailout bill is at $900 billion and growing, and passage isn’t guaranteed. Still, Wall Street seems content to wait. Some analysts are even …

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Last week, in the middle of the worst stock market meltdown since the 1930's, U.S. Secretary Henry Paulson called on some of the banking industry's leading lights to figure a way out of this mess. Paulsen, with Lloyd Blankfein (Goldman Sachs), John Mack (Morgan Stanley), Vikram Pandit (Citigroup), Jamie Dimon (JP Morgan), and Ken Lewis (Bank of America); came up with a series of steps to fix the U.S.e conomy, both in the short- and long-term. Let's summarize what the group decided to do . . . 

 Immediate Goals:

 > International coordination and cooperation by financial regulators
 > Establish …

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The impact from the ongoing credit crisis is finally starting to translate into layoffs for the tech sector. The folks I'm talking to say that AT&T, Apple, Yahoo, Sun, eBay, Microsoft, Nortel, HP, EDS, and even Google are going to be passing around pink slips with alarming aggressiveness in weeks to come. Sun looks like its ready to layoff 2,500 employees, Yahoo up to 3,500, Apple about 1,500, and HP will slice off a whopping 25,000 staffers after its buyout of EDS. Industry statistics say that about 1,417,000 tech staffers are out of work so far this year, and that's …

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Well, as they say in Vegas, in for a dime, in for a dollar. Or in the case of the Congressional bailout that President Bush wasted no time whipping out his sharpie and signing into law, how about $700 billion? The revote in the U.S. House of Representatives was never in doubt. Traders I know on Wall Street were telling me industry lobbyists, and especially tech industry lobbyists, were pushing hard for the bill. Rumors of companies all over Silicon Valley running out of cash to meet payroll spread like wildfire, although I think a lot of that is just …

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The stock market seems to be playing a waiting game with a Congressional bailout taking on a new shape in Washington. I’m hearing about a new bailout plan that would raise FDIC insurance limits from $100,000 to $250,000 and would include some kind of capital gains tax relief to ease pressure on investors. The core of the plan – billions in payouts to Wall Street firms strangling on toxic debt – is still intact. Still, that sounds better to me than the “crap sandwich” (as one House GOP leader put it) that Barney Frank and Nancy Pelosi tried to foist …

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I might have mentioned that I wrote the book proposal and the first two chapters for Peter Schiff (aka "Dr. Doom) and his increasingly prescient book "Crash Proof: How To Profit From the Coming Economic Collapse." Schedule conflicts made it impossible to keep working on the book, but Schiff finished it all the same, publishing it two years ago. I'm glad he did. In the book, Schiff points out how it was a credit-driven consumer economy that fueled the technology bubble, and then the housing bubble right after it. As politicians figured out that demand for credit could be leveraged, …

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I've been writing for a year now on how the information technology sector would be impacted by an economic downturn. Well, it looks like we're going to really find out. As I've written, when credit dries up and loans and capital are hard to get, tech companies hunker down and freeze new hires, push off marketing campaigns, and roll back research and development efforts. And if none of that stuff works, then layoffs come next. But that's only IF companies stop spending money on information technology products and services. Right now, it would seem such spending is slowing, or will …

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The market is hovering around positive territory - but barely - after billionaire financier Warren Buffett announced that he was plugging in $5 billion to newly-minted commercial bank Goldman Sachs. The investment was seen as a vote-of-confidence in the splintered financial sector by one of America's most respected market visionaries. It's also a signal from Buffett that the $700 billion payout should pass, in some form. After watching U.S. Treasury Secretary Henry Paulsen's testimony in front of the U.S. Senate Banking Committee yesterday, I have my doubts, although the fact that the Sage of Omaha backs the bailout tells me …

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The End.