Word: cisco
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Dates: during 2000-2009
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Still, for those of you who got creamed in the stock market last week, here's a little more comfort: you've got company. Lots of it. Such meager solace won't put Junior through college or send Cisco back to $82, but it sure helps the ego knowing that tens of thousands of people clung to their tech stocks as desperately as you did for the whole bloody decline. How could they not? For years tech stocks were magical. Unimagined wealth was yours simply for logging on to the New Economy mind-set, clicking three times and whispering, "There...
...light data pipes known as broadband. And now it has company in its misery, as broadband carnage has spread from phone companies like AT&T and WorldCom to fiber makers like Corning to optical-systems builders like Nortel Networks to components makers like JDS Uniphase and networking companies like Cisco Systems...
...Losers DANIEL ARAP MOI Kenyan President claims women have small brains. And we're to infer his brain is, what, big? JOHN CHAMBERS Leave your options at the door. Cisco Systems prez to re-trench 5,000 employees SPICE GIRLS Sporty to focus on solo work. Lovers of fine ensemble vocalizing are crushed Verbatim...
...fair, Yahoo's news was just one act in the carnival of carnage that was high tech last week. Cisco and Intel predicted big revenue drops and job cuts, a combination that set the nasdaq up for a 5.3% fall on Friday. The index is off 59% from its peak, reached a year earlier. Even the good news hurt--unemployment was stable but wages grew, undermining the Street's expectation that the Federal Reserve will deliver a big interest-rate cut later this month...
...hard to imagine how anybody could still be shocked and disappointed when they're told a company's profits are suffering in the current economic correction. And while unemployment is still well-contained, layoffs are still part and parcel of each new earnings report, hitting everybody from Chrysler to Cisco. And we've still got a week before Alan Greenspan does his thing...