Word: dotcomism
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...reverse stock split. In other words, for every 25 shares you owned before the split, you'd now only own one. The resulting drought should leave Webvan standing $2 tall. Above water, but at what cost? The one major precedent for a reverse stock split in the dotcom world is not encouraging. Now-defunct drugstore PlanetRx.com tried a 1 to 8 swap last November, which kept the angry hounds of NASDAQ at bay for just two months. It went into liquidation last March...
Sure, we know the dotcom bubble burst, but Hollywood studios are spending megabucks marketing elaborate tie-in websites. We rate the sites for you--and by the way, when we asked the official A.I. site's "chatbot" whether it liked the movie, the chatbot replied, "No, I didn't." Paging reprogramming...
...inalienable rights to life, liberty and the pursuit of litigation. Even the talking heads on CNBC are being dragged into the fray. A pediatrician in New York City recently filed an arbitration claim against celebrity analyst Henry Blodget, accusing him of keeping a "buy" rating on a downhill dotcom because his employer, Merrill Lynch, was underwriting a merger pegged to the company's share value. Merrill Lynch insists Blodget did not know about the impending merger...
Like a lot of other dotcom executives, Bob Davis no longer is one. But in his case the choice was his, not that of angry shareholders and VCs. Davis burst onto the Internet stage in 1995 with that perky little search engine cum portal Lycos and made it profitable, even as others scrambled for revenues. Lycos beat earnings estimates for 19 consecutive quarters. Last October, as dotcoms melted, Davis pulled off a masterstroke, selling the company to Terra Networks, a subsidiary of the Spanish telecom giant Telefonica, for more than $5 billion, including $2 billion in cash...
...getting cold out here. A formation of geese is hooting its way north, so that must be north. Dotcom companies are going south, so that's south. East is east, and west is over there. That's about as close as I can come to identifying our position. sos.? Mayday? Anne Tyler's new novel, Back When We Were Grownups, opens with this sentence: "Once upon a time there was a woman who discovered that she had turned into the wrong person." Anybody recognize this place...