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Politics : Bush Bashers & Wingnuts -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (223)	1/7/2004 11:07:23 PM
From: laura_bush	Respond to of 1347

IMF: Report says US deficits threaten world economy nytimes.com Thanks for the India stock thread, J. Chris. / lb

To: bentway who wrote (223)	1/7/2004 11:52:10 PM
From: laura_bush	Respond to of 1347

Liquidator: 6,500 tech firms among 'walking dead' Tech company 'doctor of reality' expects another busy year Wednesday, January 7, 2004 Posted: 9:36 PM EST (0236 GMT) PALO ALTO, California (AP) -- Amid rising hopes for a high-tech turnaround, there's this sobering sign: Martin Pichinson -- a man who has buried nearly 150 failed startups since 1999 -- has swooped into Silicon Valley like a vulture lurking over a pack of wounded animals. Pichinson, a self-described "doctor of reality" who helps liquidate companies, says he wouldn't have moved from Los Angeles to Palo Alto a few months ago had he not smelled more high-tech trouble looming. "Sadly, it looks like 2004 is going to be another busy year for me," Pichinson said. "There's still another 6,500 to 7,500 companies out there who are among the walking dead." Even before the move, Pichinson became a familiar face in Silicon Valley and other high-tech hubs, largely because so many venture capitalists summoned him and his firm, Sherwood Partners, to help clear the debris left by the dot-com implosion. Kozmo.com, iChristian.com and Alladvantage.com are among the high-profile casualties bagged by Pichinson during the past four years. Pichinson figures more than 50,000 people have lost their jobs on his death watch. It's a macabre job that most venture capitalists abhor. "Venture capitalists only want to deal with the top 40 percent of the companies in their portfolios," Pichinson said. "We get the bottom of the barrel." With most of the dregs flowing from Silicon Valley, Pichinson decided to move Sherwood's headquarters to the high-tech center so he's in a better position to handle the future carnage. Sometimes, Pichinson and Sherwood's 60 employees are able to salvage troubled startups by cutting costs and training the executives to rethink their ways. Sherwood even brings in an FBI consultant specializing in hostage negotiation techniques to help management. Continues......... cnn.com