Word: dotcomers
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Dell's cuts illustrate both the abruptness of the downturn and the almost chaotic nature of today's layoffs, even for companies trying to do right. Dell isn't a Rust Belt dinosaur or a business-plan-and-a-prayer dotcom. Its workers helped write one of the great business success stories of modern times. Dell was founded in 1984 to sell computers without a middleman (Direct from Dell, the ads said). Its hyperefficient model helped it pass Compaq to become North America's largest PC manufacturer. Nor is Dell's good news all behind it. Just last Thursday, Dell...
...news didn't come as a complete shock. When Davidson started out, money ran freely. "The mood was, 'Gosh, Dell has oodles of loot,'" he says. "'Let's just spend, spend, spend.'" But last spring, when the dotcom bubble burst, everything changed. It was harder to get anything more than a bare-bones computer to work on, and training was halted for several months. "You could practically hear the screws being tightened," says Davidson...
...tech lucre on cash-strapped creative-writing programs across the land. "We need to support the soul as well as the mind," he croons from a two-man consulting firm in Menlo Park, Calif. What Desai actually delivers, however, is a parable about the perils of falling for a dotcom dreamer...
...instant jillionaires of the tech-stock IPO boom, pledging lavish gifts to charities and universities was a way of parading both their compassion and their clout. But with the tech bubble gone poof, many of those same promises are worth about as much as dotcom-stock shares. Cancel that new dorm...
Stanford's disappointment is shared by outfits like the Austin Entrepreneurs Foundation, which was formed at the height of the dotcom frenzy to fund Texas community groups. But of the 120 Internet and software companies that contribute their stock options, at least a dozen have closed their doors. Others have delayed making good on earlier commitments. As a result, the Texas foundation, which had expected to give away as much as $500,000 in grants, has been forced to disburse less than a third of that, or $150,000. Says director Paula Fracasso: "I read the paper every...