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This year is different. After a brief burst of optimism in May, when stocks rallied for a short time and the Dow reached heights not seen since last fall, the U.S. has heard little but bad news. Last month telecom and fiber-optic giant Nortel (O.K., we know, it's really a Canadian company) announced an eye-popping loss of $19.2 billion for the quarter. Since then, profit warnings have come thick and fast, and commentators have started worrying that the Fed's six rate cuts this year (continued when the Open Market Committee lowered short-term rates...

Author: /time Magazine | Title: A Bad Drug For Trade Ills | 7/16/2001 | See Source »

...Here's a burst of Blavat from a Saturday Evening Post profile that Bruce Jay Friedman wrote in 1966. Read it quickly, the way he speaks it: "Kings and queens, yon royal teens, this is your Geator with the Heater coming to you on Big-Tahm Thursday where we rock the big tick-tock, where we got the class to beat all of the blast from the past...

Author: /time Magazine | Title: Philly Fifties: Rock 'n Radio | 7/14/2001 | See Source »

...wake of the dot-com bubble-burst, in which it became apparent that most of those instant-celebrity analysts - and the Internet stocks they blessed with hundred-dollar price targets - had been full of hot air, Wall Street found itself staring down the barrel of congressional scrutiny and decided to polish its own image...

Author: /time Magazine | Title: Merrill Lynch Scratches the Surface | 7/11/2001 | See Source »

...Then the bubble burst, and the stocks went south, and the commission-taking investment bankers seemed like the only ones who'd gotten permanently rich. Wall Street watchers felt betrayed. Congress started sniffing around. FORTUNE (corporate cousin to this publication) ran a cover with a decidedly unflattering picture of Morgan Stanley interent analyst Mary Meeker, the most spectacularly fallen of the analyst stars, above the caption "Can We Ever Trust Wall Street Again...

Author: /time Magazine | Title: Merrill Lynch Scratches the Surface | 7/11/2001 | See Source »

Microsoft's highly repetitive and relentlessly on-message weather report was its way of saying it was delighted, delighted, delighted with last week's appeals-court ruling partly reversing the antitrust verdict against it. The decision clearly sent a burst of sunshine Microsoft's way. Gates & Co. won on the most critical issue: the court unanimously reversed the trial court's order splitting Microsoft in two. And it upbraided Judge Thomas Penfield Jackson, a Microsoft nemesis, for his comments to the media and booted him off the case...

Author: /time Magazine | Title: No Split But Microsoft's A Monopolist | 7/9/2001 | See Source »

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