THIS IS A RUSH TRANSCRIPT.  THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED. DEBORAH MARCHINI, CNN ANCHOR: Joining me again, Patricia Chadwick, president of Ravengate Partners. Patricia, we're looking at some soft sentiment, especially in the Nasdaq futures this morning. Do you see it as just, you know, a pullback after an OK performance yesterday, or a significant bearishness as the result of</s>PATRICIA CHADWICK, RAVENGATE PARTNERS: I don't -- right -- I don't think it's too surprising given the fact that obviously John Chambers from Cisco didn't say the world is all that rosy. On the other hand, I think there were some very positive things that came out yesterday. That productivity number was extraordinary -- up 2.5 percent, and the first quarter was revised, which was significantly better. Even though in the context of doing all of their revisions, the last few years was reduced somewhat in an environment in which we know, we've had significant cutbacks, I think that was a very good showing.</s>MARCHINI: It's the new economy. It's for real.</s>CHADWICK: It absolutely is. And it shows that investing in technology really does add to productivity. Now, that doesn't say that in the short run, so many companies feel unfortunately frankly for the long run that they have to produce earnings on a quarterly basis. Therefore, in this environment, you are going to see cutbacks until companies feel that there is a better environment out there. But to me, that only kind of builds up the demand for technology, so that coming out of this -- maybe it's the end of this year, maybe it's really next year -- I think we could see some very strong demand, which will help both GDP growth as well as productivity and as well as profits.</s>MARCHINI: All right. Patricia Chadwick, Ravengate Partners. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Discussion with President of Ravengate Partners