Word: manias
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Dates: during 1990-1999
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...Suburban mania coincided with the swell in popularity of the game of golf--and what a swell game golf is! The development of golf and of the turf covering the courses where it is played (which the government has donated millions of dollars to help improve), go hand in hand. In 1897, a senior researcher at the U.S. Department of Agriculture, linked closely with the U.S. Golf Association, wrote the following influential words: "Nothing is more beautiful than a well-kept lawn . . . Lawns are the most fascinating and delightful features in landscape gardening, and there is nothing which more strongly...
...cable and computer companies hit the skids early last week, a cry arose from the cobwebbed corners of Wall Street where things like dividends and profits are revered--finally, the curmudgeons could crow about reality setting in. EBay, selling at 8,000 times earnings, had been exposed; Net mania was over. By week's end, though, those who would deflate the bull market in profitless companies got a familiar lesson: bubbles die hard, and this one still...
...last year it strained to make $92 million. It's certainly priced for success. With a market value of $166 billion, it's already more than two times as expensive as Ford, the reigning profits champ last year at $22 billion. Another of the more interesting examples of com mania is a tiny online auction site called eCom eCom.com which on the strength of three coms in its name jumped 440% in two days last week...
...think Wall Street hasn't struggled with the value problem. Four years after Netscape rang the bell for Net mania with an initial public offering at $28 a share that soared to $58 in a day, underwriters remain skeptical and resist pricing Internet IPOs anywhere near where the market does. Last week Rhythms Netconnections was listed at $21 and closed the day at $69. Two weeks ago, Priceline.com started at $16 and shot to $69. If anything, the pricing of Net stocks is growing more off kilter. The average first-day gain for an Internet IPO has swelled from...
...resulting juggernaut--all the tradition of the Yankees along with the award-winning jersey design of the Nets--promises to be unstoppable. And now that merger mania has spread to the sports world, we're bracing for the possibility of a round of long-overdue synergistic partnerships modeled on the YankeeNets venture. It's been obvious for years that the Red Sox and Cubs were destined for each other. And the hapless Golden State Warriors would make a natural match with, say, the Minnesota Timberwolves. But it won't be until the Celtics fall victim to a hostile takeover...