Friday, June 20, 2008

Don't Call It a Recession: Fremont Tech Firm Bleeds Cash

By Chris Thompson
Fri, Jun 20, 2008 at 8:41 AM

Fremont semiconductor firm Smart Modular Technologies posted quarterly losses of $11 million, the East Bay Business Times reports. That's a sharp contrast from the same period last year, when the company was $14.5 million in the black. Meanwhile, a Duke University survey of chief financial officers around the country indicated that most of them think we're about to enter the worst recession since 1979. Employment will drop, and prices will jump 4.1 percent. But that can't be: we had 0.7 percent growth last quarter! No recession! We're not listening! Shut up!

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