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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Ahda who wrote (11844)	8/17/2001 3:27:39 PM
From: Ahda	Respond to of 81108

REUTERS Prev. story \| Next story -------------------------------------------------------------------------------- The Industry Standard, whose pages chronicled the hope and the hubris of the dotcom revolution, announced on Thursday it was suspending publication and laying off most of its staff - the latest victim of the slumping technology sector it once celebrated. The move to shutter what had become a glittering symbol of San Francisco's hi-tech revolution came as publishers struggle with a deteriorating advertising climate and a sharp economic slowdown. Lay-offs The magazine received US$30 million early last year from investment firm Flatiron Partners, among others, with International Data Group retaining a large stake. As the Internet start-ups that dominated the magazine's ad pages started to go under, the magazine began to shrink, levelling out to around 80 pages this year, an 80 per cent drop from last year, according to the Publishers Information Bureau. The percentage of ad dollars dropped by 71.5 per cent from US$14.8 million to US$4.2 million. Lay-offs seemed to come close on the heels of the magazine's hiring boom of last year, which required the leasing of at least 5 buildings on downtown San Francisco alone. Dominoes The first round of lay-offs was in January, followed by another in February and trickles throughout the following months. Friday, August 17, 2001 Net chronicle calls it quits