Dot-com Nation in the After Shock
-Scholastic closed Scholastic Literacy Place, a textbook reading program.
-The Seattle Times is already considering layoffs.
-The Wall Street Journal online cut 35 of 250 jobs.
-Yahoo cut 12 percent of its workforce.
-Yesse! Communications, publisher of weekly newspapers, filed Chapter 11 bankruptcy.
Practice makes perfect
Amateurism also plagued the end of the 1990s. Gone are the days when just about anyone could launch his/her own company, Web site or e-publishing venture without considering the consequences. The consequences being inexperience. The economic retreat has created a less saturated market place in which professionalism currently dominates, but the results have also marked considerably lower interest rates in hopes of jump-starting an otherwise paranoid economy. A market can not whittle it's way back into place without first suffering from the stirrings of unsuccessfulness, in other words—penance.
In the short term, however, the fall from dot-com grace creates a cleaner slate on which to navigate, surf, search and procure. Amid the boom, it got a little confusing when trusty businesses and newly formed conglomerates all had dot-coms behind their names. In the end, many of these companies decided to partner rather than plunder; a few managed to keep heads above water by binding powers into more robust holdings.
Now, it's publishing's turn.
-Natalie Hope McDonald