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Current Topic: Economics

Young at the Wrong Time
Topic: Economics 10:40 am EDT, Jun 11, 2002

Until very recently, one of the most striking things about our economy was how common it was for young people to make a lot of money quickly. For nearly 20 years, except for a year or two in the early 90's, a college student has been able to gaze out of his dorm-room window and see a well-traveled path to millions. His ability to imagine himself getting very rich very quickly was an ingredient in the modern money culture. ...

That's what 27-year-olds did, strike it rich.

This youthward shift in moneymaking has had all sorts of strange social effects. ...

It would hardly be surprising if the pursuit of passion led ambitious young people to rethink the whole idea of success.

The comment about "a couple years in the early 90's" is a huge understatement which seriouly marrs the observation here. However, some of the conclusions are reasonable regardless.

Young at the Wrong Time

FORTUNE - System Failure
Topic: Economics 10:29 am EDT, Jun 11, 2002

"Corporate America has lost its way. Here's a road map for restoring confidence. "

FORTUNE - System Failure Technology | Give it away now
Topic: Economics 1:15 pm EDT, May 23, 2002

"At, the price is right. Scalfani sells CDs for free. That is, if you don't count the $4.95 "shipping" charge. Of course, that would be a mistake. Buried in the shipping charge is the secret ingredient: a modest profit. Less costs of $2.31, the company nets $2.64 on each "free" disc, half of which goes to the artist." Technology | Give it away now

Users Still Think It's AO-Hell
Topic: Economics 1:13 am EDT, May 22, 2002

"Nearly 60 percent of Web surfers polled by ChangeWave, an investment and research firm whose clients include hedge funds, said Tuesday they planned to leave America Online for another Internet service. "

Wow... Its not doubt that AOL's network is oversubscribed. I must say I had no idea how baddly AOL was about to get punished for this. I was under the impression that AOL users simply didn't know why their internet experience was poor.

Note: Apparently only 402 people took place in this survey, and no information is given about error margins.

Users Still Think It's AO-Hell

With buy, Cisco foes will join forces - Tech News -
Topic: Economics 12:52 pm EDT, May 20, 2002

" Juniper Networks said Monday that it plans to acquire rival router maker Unisphere Networks in a cash and stock deal worth roughly $740 million. "

With buy, Cisco foes will join forces - Tech News -

Napster Now Bertelsmann's Baby
Topic: Economics 12:47 am EDT, May 18, 2002

"Bertelsmann AG will pay $8 million to Napster's creditors, allowing the company to begin its operations again with much of its senior management intact, according to sources familiar with the situation. CEO Konrad Hilbers and founder Shawn Fanning, who both resigned on Tuesday after the board of directors failed to agree on a sale, will return to their posts. "

OK, fine, napster is back... strange proceedings... There is an inside story here. They either wanted to stop paying salaries while they worked out the legal stuff or they were trying to get rid of certain board members... still a wait and see...

Napster Now Bertelsmann's Baby

The Rules of Innovation
Topic: Economics 7:21 pm EDT, May 16, 2002

Wow. This is useful.

The Rules of Innovation - Kazaa, Verizon propose to pay artists directly
Topic: Economics 1:16 am EDT, May 15, 2002

"Kazaa lobbyist Phil Corwin says a $1-a-month fee per user on Internet providers alone (it's unclear whether costs would be passed along to subscribers) would generate $2 billion yearly: "We're talking about a modest fee on all the parties who benefit from the availability of this content."

Recording Industry Association of America president Hilary Rosen calls the proposal "the most disingenuous thing I've ever heard. It's ridiculous.""

This is an interesting development. Its CLEAR that costs would be passed down to subscribers. The logistics of this are apt to be messy, but essentially, this is like paying for intellectual property with a tax, which is redistributed via a use tracking system.

The RIAA is opposed because they are cut out of the loop and because they don't get to monkey around with the industry using agressive fees.

Either way, I imagine that this is going to make things more messy rather than less messy. People would LOVE to make file sharing legal, but when it comes time to pay for it, I think they are liable to all say "file trading is not my fault." - Kazaa, Verizon propose to pay artists directly

E*Trade downgrades CEO's pay - Tech News -
Topic: Economics 12:25 pm EDT, May 10, 2002

"In 2001, Cotsakos pulled in $4.9 million in salary and bonus, according to documents filed with the Securities and Exchange Commission. E*Trade also forgave a $15 million loan to Cotsakos last year, gave him $15.2 million to pay the taxes related to forgiving of that loan, paid him $29 million worth of restricted stock, and contributed more than $9 million toward a supplemental retirement plan.

In that same year, E*Trade posted a loss of $241.5 million, or 73 cents per share."

E*Trade's CEO salary is 30% of their annual loss!!

E*Trade downgrades CEO's pay - Tech News -

Greenspan says recovery classic path - May. 10, 2002
Topic: Economics 12:17 pm EDT, May 10, 2002

WASHINGTON (Reuters) - Federal Reserve Chairman Alan Greenspan told business executives this week the U.S. economic recovery was following a classic historical pattern of increased growth before expanding profits, according to Bill Esrey, CEO of Sprint Corp.

Greenspan says recovery classic path - May. 10, 2002

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