REGARDING A NEW YORK TIMES ARTICLE WITH LINK AND EXCERPT BELOW:
It was not long ago that a New York Times article, or
perhaps articles, reported about the difficulty traditional firms
were having in getting top school talent because of the talent
drain caused by internet start-up businesses. The declines of
internet business stocks since January and the more severe
stock price losses in the last few days may, at least temporarily,
cause movement in the reverse direction, from internet businesses
to more traditional job roles. Internet start-up firm employees are
looking at job loss and layoff as well as stock options that are fast
becoming worthless with the decline in the stock values that they represent.
Sincerely,
David Dillard
Temple University
(215) 204-4584
jwne@astro.temple.edu
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Source: New York Times (NYT)
Author: LAURA M. HOLSON and KATIE HAFNER
Title: For Start-Up Workers It May Be Worry.com
Source Date: April 14, 2000
Resource Type: News Article
Description/Keywords: Internet Businesses, Stock Market, Internet
Stocks, Stock Prices, Decline, Unemployment, Layoffs
URL: Listed Below Article Summary
(Free Registration Required by the New York Times)
April 14, 2000
For Start-Up Workers It May Be
Worry.com
By LAURA M. HOLSON and KATIE HAFNER
The recent tumble in technology stocks hasn't just unnerved investors
-- it has made some employees in the thick of the dot-com whirlwind look
warily over their shoulders.
"People are questioning whether they made a mistake by giving up the
security of a big salary for all those options that aren't worth much
anymore," said Ms. Backstrom, who is immune to market gyrations so far
because the Internet company she works for is still private. Her friends,
she added, wonder "whether it was such a good idea to not go to the Morgan
Stanleys of the world."
In the much-heralded exodus from old-line companies to dot-com
start-ups in recent years, while some voyagers have found great wealth,
others are finding the promised land does not offer the riches or
satisfaction they had expected. Not everyone finds it easy to adjust to
bosses who will not focus, work spaces that double as kennels and a
culture in which self-conscious jollity comes at the expense of real work.
Others are recognizing that part of the challenge these days is
turning traditional concerns into new-economy companies. Those who stay
can help their employers think like dot-coms.
And some, in the end, decide the toll they were asked to pay for
Internet riches is too high.
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