Word: dotcoms
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Dates: during 2000-2000
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...first, admit it--watching those bratty dotcom billionaires, oops, millionaires--ha!--thousandaires squirm as their cyberpriced stocks came screaming back to earth and their dotcoms disappeared overnight. But then something else dawned. It wasn't just kids from Stanford taking it on the chin. It was us. Suddenly, warning lights are flashing. In recent weeks, everyone from mighty Intel--whose microchips power 80% of the world's computers--to lumber and housewares seller Home Depot has signaled a sharp drop in profits, leading nervous investors to pummel their stocks...
...things are so good, why has Wall Street been doing so poorly, especially now that America has become a nation of stock traders? An explanation is that Wall Street has exchanged its traditional role of follower of economic trends for that of economic pacesetter. Consider the way that the dotcom mania showered wealth on every jaunty entrepreneur with the gleam of an idea but not a clue about earnings. In the past, the stock market would rarely show its checkbook to a start-up sans profits. And now that Wall Street has been burned, the fear is that the current...
...that's not very likely. The U.S. appears to be witnessing something richer and more varied than either New Economy enthusiasts or dotcom alarmists have envisioned: the rapid--if still painful and uneven--merging of the old and new economies. That's evident from deals as complex as America Online's proposed $120 billion acquisition of Time Warner (the corporate parent of this magazine) or as simple as the act of buying a Pokemon video game or a bedding set from K Mart's website, BlueLight.com "What we're seeing," says Garth Saloner, a professor of e-commerce at Stanford...
...Cantwell has a paper fortune of roughly $13 million from her years at Real, $6 million of which has already gone to her war chest. Paradoxically, these dotcom dollars are helping her with the campaign-finance-reform crowd. "The fact that she's not taking PAC money is a plus," says veteran state pollster Stuart Elway...
...will leave no child behind and extend the life of Social Security while permitting yuppies to day trade the trust fund. How many candidates oppose love or favor leaving a child behind? I'm all for love, especially if it means not having to forgo retirement benefits if those dotcom investments don't pan out. But it doesn't follow that the Contract with America or Newt Gingrich's willingness to let the Medicare agency "wither on the vine" didn't deserve one heck of a battle, even a government shutdown...