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It is not just Concorde that crashed: the Nasdaq high-tech stock index has plunged and the number of mergers and company flotations has shrivelled.
In his first major donation to the New York Philharmonic, Alberto W. Vilar, a high-tech stock investor and a free-spending patron of the arts, has pledged $250,000 to subsidize three performances of the Verdi Requiem in 2002.
After years of being squeezed out of a real-estate market flush with cash, high-tech stock options and outrageous prices, small businesses and nonprofit organizations are nickel-and-diming their way to the top.
Private secondary markets will see a big drop in their trading volumes with the departure of Facebook.Completely BATSIn this section Politics this week Business this week KAL's cartoon ReprintsBATS Global Markets, a high-tech stock exchange group, withdrew its IPO from its own listings market after "technical issues" saw BATS's shares drop to a price of almost zero on their first day of trading.
For investors who find high-tech stock valuations frightening, high-yield debt still represents a reasonable alternative.
Within 6 months, the high-tech stock market leveled out and then headed into the freefall that we are all too familiar with.
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"They're marketing just like high-tech stocks," Riley said.
The market peak for Internet and high-tech stocks was in the first half of 2000.
Paul Ryan, a Nasdaq deal maker, said he was not superstitious until the recent meltdown of high-tech stocks.
Soros Fund Management first bet against the boom in high-tech stocks and then was surprised again by their collapse this spring.
Among people who said they knew what the phrase "new economy" meant, only 28percentt cited the "high-tech economy" or "high-tech stocks".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com