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Another firm raking in cash from the tech downturn is Overstock.com based in Salt Lake City, Utah. Overstock is the world's first purely e-tail site to break even, a feat achieved after burning through just $27 million in venture capital--pocket change in Silicon Valley. Overstock, which buys surplus tech products at liquidation prices and sells them to consumers at an average 60% off the retail price, is best known as a "vulture" site, raking over the bones of deceased dotcoms and snapping up $44 million of their equipment...
...inventory of former dotcoms accounts for only 20% of Overstock's sales. It's also profiting from other ailing sectors of the tech world. Remember that $50,000 Cisco server that brought $2,500 on eBay? One just like it went on sale for $6,900 at Overstock.com having cost the site $3,500. Total sales on the site leaped from $4 million in November 2000 to $9 million in December, the crucial month for e-tailers...
Patrick Byrne, the site's founder and CEO, says his next project is to do his version of VCE: resell surplus tech hardware not only to consumers but also to mom-and-pop retailers for around 40% off the wholesale price. By comparison, mega-stores like WalMart usually get at most a 10% discount from jobbers or liquidation agents. Couple that with Overstock's tiny minimum wholesale order--six units--and it appears that Byrne is trying to play Robin Hood to America's 130,000 small retailers. "These guys are getting put out of business by WalMart because they...
...have been inspired to shrug off Tijuana's reputation as a cultural void and address the contrary realities of a place that's neither First World nor Third World; a culture that is neither Mexican nor American; an economy propelled by the dual engines of drug traffic and high-tech maquiladoras; a large, stable middle class sandwiched between grotesque poverty and excessive narco wealth. The goal, simply, is to transform the strangeness of Tijuana into...
...both sides of the Rio Grande--have their own support groups. Tuberculosis and hepatitis flow freely back and forth--and beyond. "The truck driver with TB who sits in our restaurants today will be in Denver or Chicago tomorrow," says Jose Manuel de la Rosa, regional dean for Texas Tech's Health Sciences Center. "Our problems will be dispersed throughout the country...