Word: dotcom
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Dates: during 2000-2009
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While Silicon Valley has yet to recover from the dotcom bust, other parts of the state's economy are booming, including tourism, hotels and construction. The number of housing permits issued rose 4.4% from January to October. The defense industry, which lost 150,000 jobs with the end of the cold war in the early 1990s, has begun to grow again as a result of the wars in Afghanistan and Iraq. In the past four years, defense investment in California has increased 44%, and last year the state got $30 billion in military contracts, much of it in high-tech...
Drugstore.com is the only online health-products retailer to survive the dotcom bust. It has, alas, never posted a profit--and in September announced it would miss third-quarter sales and profit forecasts. Enter Lepore, 50, as new chairwoman and CEO. Lepore knows plenty about the Web's peril and potential: she was chief information officer and then vice chairwoman of online broker Charles Schwab, which flew high in the 1990s but suffered when the stock market sank. She is predictably optimistic about her new company, which has seen sales grow from $110 million in 2000 to an estimated...
...thought the dotcom era was over, take a look at what a couple of Wall Street's savviest dealmakers are up to. For Cendant, the online onslaught was beginning to feel like water torture as cyberbookers chipped away at its core business: playing middleman between customers and the company's many franchisees. So last month CEO Henry Silverman, a veteran wheeler-dealer, moved to protect his turf by agreeing to buy Orbitz for $1.25 billion. The acquisition catapults Silverman to the top tier of online travel. His biggest rival there is another celebrity CEO, Barry Diller--the onetime Hollywood mogul...
...wasn't bad enough that the tech boom brought the scourge of casual dress to corporate America. When the dotcom companies eventually imploded, they also managed to depress the rest of the economy and, with it, the already defeated spirits of menswear retailers. Men jittery about their jobs were hardly inclined to purchase new khakis and polo shirts, let alone suits, which, because they cost more, are far more lucrative for the industry. But after several straight years of decline, the menswear industry is showing signs of improvement...
...past six months, Silicon Valley has been abuzz with the prospect of the first blockbuster public offering in the tech sector since the dotcom crash: the IPO of search-engine giant Google, expected this month. But Google founders Larry Page and Sergey Brin seem to be doing their darnedest to dampen the hype. The company last week gave an unusually bullish official estimate of its opening share price: $108 to $135 a share, or more than 150 times annual per-share profit. (Most large companies average about one-seventh of that.) Google watchers were split on the reason. Either Page...