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Assessing the State of Dot-Com Start-Ups |
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| Topic: Economics |
12:04 pm EST, Mar 26, 2002 |
"Just when you thought the dot-com boom and bust had been safely put behind us, new studies suggest that more carnage lies ahead." Assessing the State of Dot-Com Start-Ups |
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Telecom, Tangled in Its Own Web |
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| Topic: Economics |
1:53 pm EST, Mar 24, 2002 |
Thanks to a star-quality cast, the Enron wreck has been riveting theater. ... Yet while all eyes remain on Enron, a tragedy of identical plot but with far more damaging implications has been playing out on another stage. Unlike Enron's saga, this drama is not about a single, rogue company operating to enrich its executives. This tale is about an entire industry -- telecommunications -- that rose to a value of $2 trillion based on dubious promises by Wall Street and company executives of an explosive growth in demand for telecommunications services. When that demand failed to materialize, the companies were left with mountains of debt and little revenue. ... It is unclear whether many of these interlocking relationships served any economic purpose. ... There is no doubt that the mess is large ... some $1.4 trillion in investor wealth has evaporated ... 400,000 jobs in the telecommunications sector have vanished ... 61,000 jobs in the first two months of 2002 ... "The underpinnings of the emerging telecom bubble were a phenomenal miscalculation. At the time it seemed like a logical progression of history: cellular, the Internet, the new thing. It was bold, it was risky, it was expensive. And it was wrong." Telecom, Tangled in Its Own Web |
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Telecom Job Cuts Up, Worst Yet To Come |
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| Topic: Economics |
3:47 pm EST, Mar 19, 2002 |
The number of job cuts in the battered telecommunications industry this year is 42 percent greater than during the first two months of 2001, but things are likely to get worse before they get better, an employment firm said today. ... [B]ased on warnings by industry giants like Lucent and Nokia, the telecommunications employment picture will become even gloomier as the year progresses. "Overcapacity, a glut of competitors and a lack of capital spending by companies on new networking and telecommunications equipment are making it difficult for even the strongest companies to avoid the turmoil," firm CEO John A. Challenger said in a news release. Telecom Job Cuts Up, Worst Yet To Come |
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The Long, Humbling Quest for a Job in Technology |
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| Topic: Economics |
12:10 am EST, Mar 18, 2002 |
Three years ago, anyone with a computer science degree and a pulse could practically name his price in the job market as companies scrambled to dodge doomsday Y2K possibilities. That atmosphere was later buoyed by demand from Internet companies, which offered not just high salaries but also stock options, beer bashes on Friday afternoons and a weekly massage. By now, the end of that era has become an almost forgotten cliché. But what might surprise some people is the bleakness of the job outlook for a sector once thought impervious to the downturn: software programmers, with experience in code names like SQL, Unix, Java and C++. The Long, Humbling Quest for a Job in Technology |
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Buffett rates his 2001 performance as 'poor' |
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| Topic: Economics |
4:56 am EST, Mar 11, 2002 |
"[Berkshire Vice Chairman] Charlie [Munger] and I are disgusted by the situation, so common in the last few years, in which shareholders have suffered billions in losses while the CEOs, promoters and other higher-ups who fathered these disasters have walked away with extraordinary wealth." Buffett rates his 2001 performance as 'poor' |
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Business 2.0 - Magazine Article - Brazen Careerist: The Incredible Shrinking Resume |
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| Topic: Economics |
4:52 pm EST, Feb 25, 2002 |
"Attention, job hunters: It's time to swallow that bitter pill called pride. The simple truth is that, if you're lucky enough to land a job in this suckfest of an economy, you won't be making as much money as you were making a year ago, and the title on your business card will take a hit too. " Business 2.0 - Magazine Article - Brazen Careerist: The Incredible Shrinking Resume |
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Making Unemployment Work (Sort Of) |
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| Topic: Economics |
11:11 pm EST, Feb 24, 2002 |
Being unemployed has brought Todd M. Rosenberg fun, some fame, and a very small fortune. Which is why he is in trouble with the New York State Department of Labor. Mr. Rosenberg, 32, is the creator of "Laid Off: A Day in the Life," an animated cartoon [web site]. It's a hoot. ... Prominently displayed on the site is ... the tip jar. ... Dollars have come streaming in. Real dollars. Virtual dollars. Nine thousand dollars. ... Mr. Rosenberg had been unemployed since June, when the dot.com where he worked as director of business development shut down ... At the time, the job market "had a bad but temporarily bad feel," Mr. Rosenberg said. But by the end of the summer, none of his job interviews had panned out, and the help-wanted ads were getting skimpy. ... When he realized that he might not find a job for a while, Mr. Rosenberg said, he felt he had to do something productive. ... Making Unemployment Work (Sort Of) |
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Study: Tech job-hoppers more likely to be laid off |
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| Topic: Economics |
12:16 am EST, Feb 13, 2002 |
"Those who took advantage of the hot economy of the 1990s to job-hop may now find themselves first on the layoff list and with fewer prospects for future employment as long as the current economic downturn lasts." ... Robert Klehm, research director at Cambridge, Mass.-based Giga Information Group: "I agree with the basic statement that the people who have jumped around have a stigma attached to them. What is the risk of laying them off, because they will probably just leave anyway?" Study: Tech job-hoppers more likely to be laid off |
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