Manuel Lemos wrote:
> Do you really believe that? As far as I can recall, this recession
> started when a "mean judge" convicted Microsoft for anti-trust
> practices. That caused NASDAQ crash that scared people away from
> investing in tech company stocks. Many Internet companies dried and
> without cash from the investors many went bankrupt. That affected all
> the small or big corporations that have grown and were dependent on the
> networking market. I don't think this affected much non-technological
> companies, big or small. So I don't think your anti-big corporations
> speech has much to do with this.
> Manuel Lemos
No, recesion on the "new economy" started as the fact that the .com (or
dotcommers) companies did not develop with their market spectations.
Shareholders then started to not give any more credit to bussines
expectations and speculation stopped. Quarter after quarter with cash
looses, and even worse "return on investement" expectations, made the
shareholders move the money out of those companies and their confidence.
It is the way the dotcommers made bussines and SE speculation what
caused this problem.
Just as a point travelprice.com just announced that this is the first
quarter without losses before taxes. It just happened that they have
applied normal bussines strategies and bussines models.
Also the effect that this downturn is going through all the chain, from
transportation to food and goods. And BTW most companies that caused
this were startups not really big companies. Much more information on
this can be found on the Wall Street Journal.
Sean C. McCarthy
SCI, S.L. (www.sci-spain.com)
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