Word: dotcomers
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...Dotcom-related price spurts in real estate aren't confined to the tech-heavy Bay Area. The cities with the highest rates of growth when it comes to technology companies--places like Phoenix, Ariz.; Denver; Boston; Portland, Ore.; Fort Worth and Austin, Texas--also happen to be the cities with the fastest-rising house prices. "This is no coincidence," says Ross DeVol, an economist at the Milken Institute in Los Angeles, a nonprofit think tank. "The indirect effect of [dotcoms'] being there is that landlords jack up the rates on everyone else. It's out of control...
Antigentrification anger is a hallowed tradition in the San Francisco Mission, an area that has fought for years to preserve its Latino identity. But now violent calls to arms are plastered on lampposts across the city: one unattributed sign reads simply, F___ YOU AND THE DOTCOM YOU RODE IN ON. Marci Riseman, one of the owners of the Dancers' Group space, says she has started to receive threatening e-mails: "Some were saying, 'I know where you live, and I'm watching...
...Dotcom-driven rents have become a hot-button election issue. Two propositions headed for the November ballot in San Francisco attack the way tech firms have wiggled around strict zoning restrictions on office space by defining their space as anything but an office. The radical Prop L would force live-work lofts to be used as affordable housing and ban dotcom development in areas like the Mission. The much milder Prop K, backed by Mayor Willie Brown and an assortment of business interests, would limit dotcoms in only a couple of neighborhoods--and compensate with a hefty raise...
With so many dotcom bankruptcies hitting the business pages, it may seem as if the stock market has already sorted out this rent problem. Not true, says DeVol. "If the dotcom market slows down, there's still going to be some high-valued part of the technology industry to take the space. Venture capital has to go somewhere. This is a long-term problem...
...Utah Jazz home game, where everyone in the stands is white and most of the performers are black. I left a message for Powell asking whether he might have been used as just another prop in this diversity derby. (Did I mention the blind mountain climber and the Hispanic dotcom mogul...