Word: dotcom
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...fell from the sky, losing more than 60% of its value in a single day. More than $11 billion in market value was erased, and the company's brash chairman, Michael Saylor, 35, personally lost $6 billion in paper wealth in less time than it takes to say overvalued dotcom. "There's no doubt this is a bump in the road," Saylor said bravely, "but we signed up to change the world and never believed it was going to be easy...
Some migrations are forced at gunpoint. Others are set in motion by the global economy. Money is dynamite, and it can scatter people better than mortar fire. The world is well into the second Industrial Revolution, in which the developed nations have gone dotcom and service. Smokestack industry and light manufacturing have moved to the Third World, and farmers have been displaced by the transformation of family agriculture into corporate agribusiness. As workers everywhere have moved off somewhere else, looking for the headwaters of the global-money flows, oversize cities have exploded. Landless Philippine farmers pack into Manila, jobless Moroccans...
Last week, though, techies got a glimpse of the smoke and ashes to come. For a few retro days, Dow stocks soared as investors, perhaps sensing an imminent rush to the tech exit, sold all things dotcom. Just about everyone who wanted to got through the door--this time. But if you've made a bundle in NASDAQ stocks and are concerned about their increasing volatility, consider protecting what you've made. Here's how, starting with some basics and moving up the ladder...
MOHAMMED KHATAMI U.S. trade eased as modernizer reshapes Iran. Dotcom guys can finally get some decent caviar...
...came out only in PC-readable formats. "This is a good illustrative example of all the potential that so-called e-commerce has, and then the reality of the situation," he says. "In point of fact, what e-commerce has been selling for the past five years, the whole dotcom thing, is about potential. It's all about the sizzle, and none of it's about the steak. And for somebody like me, who is used to producing on deadline, it drives me crazy...