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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: yard_man who wrote (119244)9/1/2001 8:07:36 PM
From: Les H  Read Replies (1) of 436258
 
I see no real proof that Greenspan's raising interest rates brought down the market. As I recall, the B2C's and the CLECs were running out of cash in the summer of 2000. Without proof that they could become profitable, they were finding it difficult to raise funds through more offerings. The B2Cs did a last trick of giving out coupons for free merchandise, heavily discounted merchandise, or free shipping in order to pump out revenue growth figures and to boost stock prices for the insiders. These were supported by heavy advertising in the fall of 99. As I recall, the consumer spending started slowing down in the spring of 2000 when the gas prices jumped to $ 2.25 and $ 2.50. There were never any noticeable slowdowns in housing back then as well. It seems to me that the many new era companies were going out of business, and started to cut back to slow their burn rate by early 2000. This process gradually spread to more and more nut and comm-nut companies, and then to other infra companies.
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