Word: microsoft
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...like bonds and even scorned bank CDs siphon dollars from the stock market--and stocks become less attractive. When the government wins big in a court case that could bust up one of the most valuable companies in the most valuable industry in the world, as happened in the Microsoft trial last week, it breeds uncertainty--and stocks become less attractive. When the market's most credible bull sours on the market, no matter how faintly, as Abby Joseph Cohen at Goldman Sachs did recently, some people are bound to sell...
...phenomenal" charitable contributions. And he roamed Capitol Hill for meetings with more than 125 members of Congress, including a private chat with Senate Commerce Committee chairman John McCain. The tourists ate it up; the $100 Billion Man attracted movie-star crowds wherever he went. But the whole scene left Microsoft's critics fuming. "It just makes you wonder what for," Senator Orrin Hatch groused. "I certainly hope it's not to discuss the case...
...case, of course, is the government's landmark antitrust lawsuit against Microsoft. And it's a fair bet the case was at least one of the reasons for Gates' congressional group hug. Two days earlier, Judge Thomas Penfield Jackson had issued a toughly worded ruling that did just what everyone expected: it branded Microsoft an "oppressive" monopolist and laid the legal groundwork for imposing what could be draconian remedies in the next few months. It was a sharp blow to Microsoft--the company's shares plunged almost 15% the day of the ruling and helped set off last week...
...Microsoft moved quickly to appeal Judge Jackson's ruling--to Congress and to the court of public opinion--and it seemed to be working. Senate majority leader Trent Lott called on fellow lawmakers to investigate whether the Administration had pushed the company too far. House majority leader Dick Armey (dubbed "MS Dick Armey" for his pro-Redmond sympathies) said he'd "rather break up the Justice Department" than Microsoft. Republicans put Al Gore on notice that they intend to make an issue of the case this fall, but Democrats seemed just as caught up as the G.O.P. was in Gatesmania...
...addition to his role in the Microsoft case, Lessig recently published a well-reviewed book, Code and Other Laws of Cyberspace...