Dot-com Nation in the After Shock
In contrast, the companies that are still around (such as Amazon.com and other e-tailers offering products in the punch) are exempt from dot-com disaster; they developed direction enough to stay the course rather than crash head-first into the brick wall known as economic reality. In other words, you have to have demand...to have supply...to make money. Even the coolest TV commercial (like the one where unlikely celebrities waltz; Salon.com is suffering mad lay-offs) won't guarantee longevity. Shatner proved as much. So did Microsoft before its East/West Germany-like split.
Spin, I mean, laugh doctors
In a comic sense, seeing the dot-com millionaires scramble has become a new market-watching sport. The wallets shrunk. The suits wrinkled up like the wicked witch's toes. And the indelible market dip taught lessons in excess and demand value. For the publishing industry, advertising has been the single-most affected niche as a result of reversals of fortune. Not funny. Every other day, another company lays-off yet another bundle of employees due to poor ad sales, revenue slumps and professional decompression.
Just last month in print and e-publishing:
-CBSNews.com cut 20 employees.
-CNBC.com promised to lay-off staff after its merger with MSN Money Central.
-Dads Magazine and Parents Magazine subscribers merged.
-Detour Media Group reports it will close.
-Freedom Technology Media Group folded its 18-year-old Home Office Computing.
-H&S Media laid off 15 employees and folded Hot and Pojo's Pokémon magazines.
-iSyndicate sold assets to its competitor, Screaming Media.
-The New York Times cut editorial pages, as did The Seattle Times, The Boston Globe, The San Francisco Chronicle and The San Jose Mercury News.
-Newsday says it will cut 30 to 50 jobs.
-New York Times Digital cut 47 more jobs, that's 116 in total.
-POZ Publishing, publisher of POZ magazine, reduced its staff by one-third.