首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
First it was tulips, then it was shares in the South Sea Company. Now the dot. coms have been added to that dubious hall of fame
First it was tulips, then it was shares in the South Sea Company. Now the dot. coms have been added to that dubious hall of fame
admin
2010-01-18
19
问题
First it was tulips, then it was shares in the South Sea Company. Now the dot. coms have been added to that dubious hall of fame-the problems in the financial markets.
Yesterday (Fri) yet another high profile dot.com business-Letsbuyit-announced it had run into difficulties.
The madness for technology stocks in 2000 had all the ingredients that investors knew little about, greed for money, an economy firing on all cylinders, some dashing young entrepreneurs andeven the rules of business had been rewritten.
Yet what it did not have was the ability to rewrite the rules of economics. When the historians come to write the story of the dot. com bubble, their epitaph will be the same as that London in 1720 or Wall Street in 1929: it wasn’t different this time. In vain did the Cassandra foretell that it would all end in tears, that there were Simply too many companies chasing too little revenue, and that for the stock market valuations of the dot.coms to be justified every person on earth would have to be surfing the net 24 hours a day with a mobile phone clamped to each ear.
Most dot.coins were destined to be squeezed by cut-throat competition. Reality has now set in. Shares in dot.com start-ups that were changing hands for hundreds of dollars each at the height of the speculative fever are now virtually worthless. Did anybody know or care what Engage Inc was actually involved in, let alone have any idea of its likely earnings potential when it was trading at US dollar 95 a share earlier this year. They probably took a closer look as the shares fell to just over US dollar 1 this month.
However, there was little analysis of this sort as the year dawned with the US economy booming, fears of a millennium bug meltdown and the merger between America Online, the world’s biggest internet services provider, and Time Warner, one of biggest traditional media companies, symbolizes the unstoppable force of the "new example".
The combination appeared to mark the coming of age of online upstarts as AOL had all the potential, but Time Warner was making all the money.
Having risen a record-breaking 88% in 1999, the Nasdaq composite index of technology companies rallied even higher in the first three months of 2000. On March 10, the index reached a record high of 5048. In the dying weeks of the year, it is trading at less than half this level. With the bubble burst and investor confidence in tatters, the index has recorded its worst ever annual performance in its 29-year history. The previous low of a 35% decline was recorded during the oil crisis of 1974.
This year’s bear market began in April, when the Nasdaq suffered four of its worst ever points losses in quick succession. Within 51 trading days, US dollar 2,400bn had been wiped from the technology-driven stock market.
The rate of company closures is still accelerating, according to a report published by Webmergers, an online consultancy. In the first 11 months of the year, 130 internet companies folded with about 8,000 job losses.
In spite of signs that the stock market madness has come to an end, most analysts believe the internet will make a lasting impact on business and the economy.
Andy Grove, chairman of Intel, confidently predicted last year: "There won’t be any internet companies [within a few years]. All companies will be internet companies, or they will be dead." This is almost certainly true. The Wall Street crash of 1929 did not mean the end of radio or prevent the spread of the motor car. But a word of warning. In real terms, the S&P composite index did not regain its level of September 1929 until December 1958.
The main idea of the passage is that_____.
选项
A、all the internet companies have died out
B、it is the most difficult time for dot.coms to survive
C、the comment to the year 2000: dot.com turned into dot.bomb
D、the brightest future about dot.com
答案
C
解析
考察对文章的理解,通读全文后可知C最合适。
转载请注明原文地址:https://kaotiyun.com/show/pHvO777K
0
专业英语八级
相关试题推荐
Organicfoodisconsideredbetterthanmedicinetokeeppeoplespiritualfitness.
Trump’sdisregardofAmericancommitmentstopeace,securityandtradehascauseduncertaintyabouttheprospectofinternationa
AccordingtotheWHO,environmentalpollutionisaffectingmostchildrenthroughouttheworld.
Whathavescientistsconcludedthroughstudiesovertheyears?
WhyisJapan’sgovernmentplanningtheexpenditureof3millionyen?
Duringmostofourdailyinteractionswithpeople,weengageinsmalltalk.Smalltalkisusuallyashortconversationaboutone
Backin1972,$1millionwasstillaneye-poppingamountofcash.ButtoRobertHecht,anenterprisingAmericanantiquitiesdeal
A、Ifyouarehungry,you’dbettergotothenearestsupermarket.B、FewAmericanconsumerswouldchoosetogoshoppinginWal-Mar
TheFrenchwordrenaissancemeansrebirth.Itwasfirstusedin1855bythehistorianJulesMicheletinhisHistoryofFrance,t
A、Theincreaseofhumanpopulation.B、Theextinctionofdinosaurs.C、Thecuttingdownofforests.D、Thegreatdemandforanimal
随机试题
简述课外校外教育的主要内容。
接种卡介苗时,护士常选用的注射部位是
1.背景材料:某高速公路列入明年建设计划,交通主管部门成立了一个开发公司运作该项目。项目资金来源主要靠财政拨款。为了树立良好的政府工程形象,项目严格按照公路建设的基本程序进行。2.问题:公路的建设资金除了财政拨款外,还可以有哪些渠道
该作家手稿拍卖所得应缴纳的个人所得税为( )元。稿酬所得应缴纳的个人所得税为( )元。
下列属于票据功能的有()。
按照我国有关的法律规定,遗产继承的第一顺序继承人为()。
一般资料:求助者,女性,36岁,大专文化,销售经理。案例介绍:求助者与丈夫在同一公司工作,一年前丈夫被派往外地分公司任经理。两个月前,求助者偶然听到同事议论其丈夫在任职的城市与别的女人同居。求助者开始不相信,因为两个人非常恩爱,并且女儿也已经7岁
Inrecentyears,we’vereadalotofarticlesabouthowweneedbetterteachersinourpublicschoolsand,iftheteachers’unio
(2009下项管)小王是某软件开发公司负责某项目的项目经理,该项目已经完成了前期的工作进入实现阶段,但用户提出要增加一项新的功能,小王应该______。
有以下程序:#include<stdio.h>main(){unsignedchara=2,b=4,c=5,d;d=a|b;d&=c;printf("%d\n",d);}程序运行后的输出结果是()。
最新回复
(
0
)