Monday, April 23, 2001

Bleh -- 11:30 am CST, Update by The Master

Been awhile since I've done much posting on here (yeah, yeah A.T.) but something showed up on Yahoo! News that I thought was rather interesting. Yahoo reported today that PSINet, one of the monster ISPs that was flying so high so recently, has had their stock trades halted and will be delisted shortly. PSINet is also claiming that they will be needing to file for bankruptcy shortly.

Now, I'm not surprised at the slide all of these no-business-plan e-com companies have taken, but an ISP like PSI being taken down really surprises me. I do hope that internet-based businesses learn a real lesson from this whole stock crash. Have a plan. Don't just expect people to keep throwing money at you so you can have BMWs for everyone and pool parties for the whole company every night of the year.

J.t.Qbe comments: It's shakeout time, i.e. return to reality. This year's slower economy is weeding out some of the gravy train riders who are/were solely in it for a quick buck. These are quieter days. I'm currently looking for a job in Michigan (anyone need a Unix admin or Perl/C programmer?) and the job market is definitely tighter than it was 1-2 years ago.

News for 04/23/2001

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