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Technology Stocks : Vignette Corporation (VIGN)

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To: smallcapmaven who wrote (566)5/9/2001 8:26:31 AM
From: Jimbobwae  Read Replies (1) of 628
 
Vignette Pulls Plug On Downtown Relocation

Austin based Vignette will not build a new world headquarters in downtown Austin. The web software maker announced late last year it would consolidate its six office sites into one along Town Lake across from the Convention Center. The multi-million dollar proposal included two high-rise office buildings, a multi-level parking garage and major improvements to the Waller Creek area. The city offered Vignette a 25-million dollar incentive package if it chose to make the move. Tuesday night, Mayor Kirk Watson confirmed Vignette will not purchase the downtown property. Watson says he's disappointed Vignette will not be moving, but ads "The city's vision of a hi-tech employer based in downtown still has merit, but the timing needs to be right."
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