Word: dotcom
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Dates: during 2000-2009
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...Economic reality, in other words, is settling in across the nation. Every tumultuous period of financial boom and bust comes to be defined by a word or catchphrase. Tulipmania. The Great Depression. The dotcom bubble. The word that could define the financial times we are now living through - and the economic pain that has begun - is leverage...
Charles Ardai was born too late. He's a dotcom success story--founder and CEO of Juno--but his first love was pulp fiction: those seamy, seedy, hard-boiled paperbacks from the 1940s and '50s, the kind with a hot broad and a cold, stiff drink on the cover. Ardai, 36, missed the great age of pulp, so after Juno merged with a competitor in 2001 and he had time and money to burn, he founded his own press, Hard Case Crime. Now he makes 'em like they used...
...engine is sputtering. Population growth is at a 30-year low. School enrollment is declining. Retirees are drifting to the Southwest and the Carolinas, while would-be Floridians who bought preconstruction condos in more optimistic times are scrambling - and often suing - to break contracts. This is our dotcom bust, except worse, because our local governments are utterly dependent on construction for tax revenues, so they're slashing school and public-transportation budgets that were already among the nation's stingiest. "This may be our tipping point," says former Senator Bob Graham...
...Some luxury brands jumped on the e-commerce bandwagon during the dotcom boom in the late 1990s, only to bust with the bubble in the early part of the current decade. So they're reluctant to try again. There's also an older wariness dating back to the 1980s, when too many designer brands went on licensing sprees that cheapened their pedigree. "Since then, the mantra has all been about control of brand. And to some, the net looks like the Wild West," explains Guy Salter, deputy chairman of Walpole, the British luxury brands trade association that collaborated...
...sales hit a peak of $1.3 billion in 1995 but steadily declined as the dotcom boom threatened to obliterate neckwear entirely and business casual took hold in the workplace. Just last week the Men's Dress Furnishings Association, which represents American tiemakers, announced it will close its doors. Still, some analysts see an upside in the current economic downturn: laid-off workers looking to stand out in job interviews could spark a tie-wearing boom...