Word: entrepreneurs
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Zaitz's story is not unique. From farming to food to microprocessors; from solid-waste control to plastics to such traditional Rust Belt goods as steel, virtually every American industry is represented online by at least one entrepreneur who has set up shop to cement business-to-business commerce. Meanwhile, large corporations are using the Internet to build bridges between themselves and their strategic partners. Each member of the online biz-to-biz (B2B) brigade is hoping to use the Net's instantaneous global reach to build digital marketplaces where buyers and sellers who may never have...
...market, racquet sales have been in a decade-long decline. This year sales could climb 5%, which is in some measure attributable to the ability of a Swedish turnaround artist to persuade the Austrian government's tobacco monopoly to sell him a sporting-goods company created by an American entrepreneur...
...reverse that for a moment. The entrepreneur is Howard Head, who created a metal ski and later an oversize tennis racquet, revolutionizing both sports. He sold his namesake company in 1971 to AMF, a conglomerate that was busted up in the mid-1980s. Head was sold to a leveraged buyout firm, Freeman Spogli, in 1989, which unloaded the struggling company on Austria Tabakwerke, a government-owned firm that bought Head to try to keep its manufacturing jobs in Austria. "They did even worse," says Johan Eliasch, a Swedish merchant banker who took over the company in 1996. "They threw money...
...dot.com's been smashed! But don't cry for me--O.K., you probably aren't--I'll do fine. And so will the business. That's how this entrepreneur consoles himself when he looks at the stock performance of TheStreet.com a company that came public at $19 just a few months ago, roared to $70 on the first day of trading and now finds itself below the offering at about...
...this time Bronson gets serious too: "I wanted to know what burns in the heart," he says. So he finds a struggling French entrepreneur with no venture funding, no friends and a work visa about to expire, who confesses, "There's a knife at my throat. Sometimes I get really, really scared." A motherly saleswoman talks about going for "the kill" when she closes a deal. A CEO starts to unravel in the final sweaty minutes of an IPO that just might fizzle. The tension is palpable, the fear real, as Bronson chronicles "the living hell of radical uncertainty that...