Word: go-go
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...eyeballs"--sheer audience size. Never mind that the impact was next to impossible to track. Today eyeballs are still an important factor, but retailers prefer performance-based deals--paying for "click-throughs" (portal visitors clicking on one of their links) and, in some cases, actual sales. "Back in the go-go days of the Internet, retailers would pay for the halo effect of being on a big portal like AOL," says David Bolotsky, who headed Goldman Sachs' U.S. retail group before launching UncommonGoods, an online and catalog gift shop, in 1999. "When they realized they were losing their...
...plenty of company. Using cheap debt and inflated equity as currency, scores of firms expanded internationally during the go-go 1990s--not just through exporting, but by making direct foreign investments--and lost big. From tech (Gateway Computer) to financial services (Merrill Lynch) to media (Vivendi Universal) to energy (TXU and others), many firms are scrambling to restore their balance sheets after disastrous foreign campaigns. Partly as a consequence, U.S. foreign direct investment was down 55% in the first half of this year compared with the same period in 1999, when it peaked at $175 billion...
...Although lots of Shanghai's historic tree-lined neighborhoods were torn down in the go-go '90s, many graceful mansions remain, especially in the old French Concession. The city's funkiest bars and restaurants crowd this area, some in renovated colonial villas. True, there's been plenty of recent buzz about Xintiandi, a Disneyfied version of Ye Olde Shanghai that houses the city's poshest restaurants and bars in gutted old buildings. But Xintiandi feels like a sleight-of-hand: an insta-version of Shanghai that betrays little of the city's real history. Avoid it. Instead experience...
...parade to a cluster of entertainment venues in the inner-Sydney suburb of Moore Park for a 12-hour dance extravaganza, which starts at 10 p.m. For one night, the cavernous, and usually vacant, Royal Hall of Industries is transformed into a dance club with more laser lights and go-go boys than a Britney Spears concert. Thousands dance to one beat in the main hall, the rest scatter to smaller pavilions with different themes or spill out into the open-air quadrangle. Volunteer dancers?men wearing tight pink shorts, women in body-clinging vinyl and hairy guys...
...closed door session with investment advisers before the arrival of Enron's go-go salesman that day - Jeff Skilling himself - committee members were similarly confused about the structure of Enron and puzzled over the lack of transparency in the JEDI setups. Only after repeated questioning did the outside advisers who brought CalPERS the deal - Pacific Corporate Group of LaJolla, Calif. - admit that Enron was offering stock, instead of cash, as a maneuver to improve their debt-to-equity ratio and keep their credit rating up. Connell was offended. "We were going to put cash in, they were...