COMMENT
3
Fiscal impact
continues
I was going to try and write a more positive editorial considering the negative
gloom and doom that has been our daily staple for the last month or so. As
I was writing news came in that BASF had announced the closure of 80 of
their global facilities necessitating more job losses that are not required but
inevitable as an over inflated market begins to redress the imbalances of
recent years.
It has been difficult to find any positive
news of late as I am sure everyone else is
discovering. It is not that I think such
news should not be covered just that it
appears to be such an overload you
Comment
wonder how many companies are using the
current crisis as a rationale to restructure
to shore up profits rather than any
concern. I am sure it is not true but so
many companies seem to be reacting to
bad news rather than wait for further
indicators of which direction it will go.
Unfortunately this reactive behaviour
tends to make things worse as market
analysis still drives people decisions and
all the analysts see is more and more
companies reacting.
The efforts by the governments of the
world appear to be economically sound in the long term as protective country
measures in the late 1920s led to the great depression as much as anything
else. Unfortunately the government efforts in lessening the current crisis are
not being supported by an industry seeking ways to protect margins rather
than increase opportunities. Industry tends to expect government support for
issues they find important so one can only hope they see the positive long term
goal in looking at ways at lessening the impact of the current crisis.
Nobody knows how deep or long this current crisis will be and there is no
doubt that it will impact the global marketplace for the foreseeable future.
Industry and government needs to acknowledge the crisis is unavoidable and
work together to ensure the damage and fall out is as less as possible.
David Ridsdale
Editor-in-Chief
November 2008 www.euroasiasemiconductor.com
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