Hey, Only 27,000 Points To Go!
"Stocks are now in the midst of a one-time-only rise to much higher ground — to the neighborhood of 36,000 for the Dow Jones Industrial Average." — James K. Glassman and Kevin A. Hassett in Dow 36,000 (Times Books, 1999). Used copies ofthe book now sell for less than a dollar on Amazon.
He Can Always Hope...
"Hopefully, we can become the next General Electric...[I hope to be remembered as] some combination of what Jack Welch put together at GE...and Warren Buffett's very practical ideas on how you go about creating return for shareholders." — Dennis Kozlowski, disgraced former CEO of Tyco, in 2001
Now That's Ironic
Just after the September 11 attacks, Time magazine declared, "The Age of Irony Comes to an End." Well, maybe not. Barely a year later, Kenneth Lonchar, the CFO of software-maker Veritas, which means "truth" in Latin, resigned his post. The reason? Lonchar lied about receiving an MBA from Stanford.
Out On a Limb — Way Out
"One thing is certain in the distant future — the world will be a very different place." That bold prediction comes from Ian Pearson, British Telecom's in-house futurist. Here are some of his fearless forecasts for the next 20 years.
2003 Smart Barbie insists on allowance for clothes and accessories.
2006 First organism brought back from extinction.
2010 Orgasm by email.
2013 Kitchen rage caused by electronic gadgets.
2020 Digital-image overlays enhance relationships.
2021 Virus wipes out half of the electronic-pet population.
Let's Hope Not...
"Enron has created what may be the most successful Internet venture of any company in any industry anywhere." — The Economist, June 30, 2001
Pretty Soon You're Talking Real Money
$7,000,000,000 = Estimated annual losses of the U.S. airline industry in both 2001 and 2002
$7,200,000,000 = amount WorldCom "mistakenly" booked as assets instead of expenses
$7,000,000,000 = Annual GDP of Malawi (whose flag still flies proudly)
A version of this article appeared in the January 2003 issue of Fast Company magazine.