That was the real meaning of New Economy! You build a high Tech conglomerate and diversify into Real Estate!
Cisco subletting Silicon Valley space
By Bloomberg News
May 25, 2001, 9:25 a.m. PT
Cisco Systems, in a reflection of a slowing economy and decreased demand for technology equipment, is trying to sublease 750,000 square feet it no longer needs in California's Silicon Valley.
The effort is an about-face for the maker of networking equipment, which had increased the number of buildings it occupies in Milpitas and San Jose to 50 today, from 21 in 1998, prompting employees to dub the real estate department "the building of the month club."
3Com to sell part of headquarters
By Reuters
June 19, 2001, 3:40 p.m. PT
3Com, a provider of computer network equipment, said Tuesday it is planning to sell some real estate, including part of its headquarters campus, as it adjusts for a new outsourcing deal and fewer employees. |
