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Politics : High Tolerance Plasticity
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To: The Ox who wrote (12498)2/19/2002 1:06:43 PM
From: William JH  Read Replies (2) of 23153
 
I was involved early on with the Stratosphere Tower in Las Vegas. The project kept getting bigger and bigger, a $200mm bond was floated at 14.24% interest, and by the time the tower was built and they got open, bankruptcy was imminent. Had they stayed with the original, smaller plan they might have made it. The shareholders ended up with nothing.

Homegrocer.com bought a huge fleet on shiny new trucks, most of which were seldom or never used.

My point is that a lot of money has been extravagantly wasted by public companies over the past few years, now that debt is hanging around their necks. Maybe I think too small. I've started several small businesses, we always started small and expanded if it was warranted. I was always using my own money, so WDIK? -gg-
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