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Telecoms Crash
The Telecoms crash was a stock market crash that occurred in 2001, after the bursting of the dot-com bubble. It was called "the biggest and fastest rise and fall in business history". Causes Partially a result of greed and excessive optimism, especially about the growth of data traffic fueled by the rise of the Internet, in the five years after the Telecommunications Act of 1996 went into effect, telecommunications companies invested more than $500 billion, mostly financed with debt, into laying fiber optic cable, adding new switches, and building wireless networks. In many areas, such as the Dulles Technology Corridor in Virginia, governments funded technology infrastructure and created favorable business and tax law to encourage companies to expand. The growth in capacity vastly outstripped the growth in demand. Spectrum auctions for 3G in the United Kingdom in April 2000, led by Chancellor of the Exchequer Gordon Brown, raised £22.5 billion. In Germany, in August 2000, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Stock Market Crash
A stock market crash is a sudden dramatic decline of stock prices across a major cross-section of a stock market, resulting in a significant loss of paper wealth. Crashes are driven by panic selling and underlying economic factors. They often follow speculation and economic bubbles. A stock market crash is a social phenomenon where external economic events combine with crowd psychology in a positive feedback loop where selling by some market participants drives more market participants to sell. Generally speaking, crashes usually occur under the following conditions: a prolonged period of rising stock prices (a bull market) and excessive economic optimism, a market where price–earnings ratios exceed long-term averages, and extensive use of margin debt and leverage by market participants. Other aspects such as wars, large corporate hacks, changes in federal laws and regulations, and natural disasters within economically productive areas may also influence a significant d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Federal Communications Commission
The Federal Communications Commission (FCC) is an independent agency of the United States federal government that regulates communications by radio, television, wire, satellite, and cable across the United States. The FCC maintains jurisdiction over the areas of broadband access, fair competition, radio frequency use, media responsibility, public safety, and homeland security. The FCC was formed by the Communications Act of 1934 to replace the radio regulation functions of the Federal Radio Commission. The FCC took over wire communication regulation from the Interstate Commerce Commission. The FCC's mandated jurisdiction covers the 50 states, the District of Columbia, and the territories of the United States. The FCC also provides varied degrees of cooperation, oversight, and leadership for similar communications bodies in other countries of North America. The FCC is funded entirely by regulatory fees. It has an estimated fiscal-2022 budget of US $388 million. It h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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NTL Incorporated
NTL Incorporated, branded as ntl:, was a United States-listed British company founded in 1992, which provided cable television, cable internet and fixed-line cable telephone services. While NTL had its headquarters in New York City, the company's activities focused heavily on the United Kingdom, with operational headquarters in Hook, Hampshire. NTL became the dominant cable operator in the United Kingdom, controlling more than 90% of the market. In 2005 residential services generated 78% of NTL's revenue, and business services 22%. In March 2006, NTL merged with fellow cable telecom company Telewest, and created 'NTL:Telewest', which then also merged with Virgin Mobile UK and Virgin.net in June 2006, creating the UK's first "quadruple play" telecom provider, offering television, internet, landline phone and mobile phone services. In February 2007, NTL:Telewest was rebranded as Virgin Media. History 1992–2006 Barclay Knapp and George Blumenthal, the founders of America ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Sunk Costs
In economics and business decision-making, a sunk cost (also known as retrospective cost) is a cost that has already been incurred and cannot be recovered. Sunk costs are contrasted with ''prospective costs'', which are future costs that may be avoided if action is taken. In other words, a sunk cost is a sum paid in the past that is no longer relevant to decisions about the future. Even though economists argue that sunk costs are no longer relevant to future rational decision-making, people in everyday life often take previous expenditures in situations, such as repairing a car or house, into their future decisions regarding those properties. Bygones principle According to classical economics and standard microeconomic theory, only prospective (future) costs are relevant to a rational decision. At any moment in time, the best thing to do depends only on ''current'' alternatives. The only things that matter are the ''future'' consequences. Past mistakes are irrelevant. Any cos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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University Of Oxford
The University of Oxford is a collegiate research university in Oxford, England. There is evidence of teaching as early as 1096, making it the oldest university in the English-speaking world and the world's second-oldest university in continuous operation. It grew rapidly from 1167 when Henry II banned English students from attending the University of Paris. After disputes between students and Oxford townsfolk in 1209, some academics fled north-east to Cambridge where they established what became the University of Cambridge. The two English ancient universities share many common features and are jointly referred to as ''Oxbridge''. Both are ranked among the most prestigious universities in the world. The university is made up of thirty-nine semi-autonomous constituent colleges, five permanent private halls, and a range of academic departments which are organised into four divisions. All the colleges are self-governing institutions within the university, each controlling ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Oxford University
Oxford () is a city in England. It is the county town and only city of Oxfordshire. In 2020, its population was estimated at 151,584. It is north-west of London, south-east of Birmingham and north-east of Bristol. The city is home to the University of Oxford, the oldest university in the English-speaking world; it has buildings in every style of English architecture since late Anglo-Saxon. Oxford's industries include motor manufacturing, education, publishing, information technology and science. History The history of Oxford in England dates back to its original settlement in the Saxon period. Originally of strategic significance due to its controlling location on the upper reaches of the River Thames at its junction with the River Cherwell, the town grew in national importance during the early Norman period, and in the late 12th century became home to the fledgling University of Oxford. The city was besieged during The Anarchy in 1142. The university rose to domi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Paul Klemperer
Paul David Klemperer FBA (born 15 August 1956) is an economist and the Edgeworth Professor of Economics at the Department of Economics, Oxford University. He is a member of the Klemperer family. He works on industrial economics, competition policy, auction theory, and climate change economics and policy. Having lived his early life in the Midlands where he attended the independent King Edward's School, Birmingham, Klemperer went on to gain an engineering degree from Cambridge University, and an MBA and an economics PhD from Stanford University. He was elected John Thomson Fellow and tutor of St Catherine's College, Oxford in 1984, and a professorial fellow of Nuffield College, Oxford in 1995, when he became Edgeworth Professor of Economics in succession to Nobel Prize winner James Mirrlees. He was a member of the UK Competition Commission from 2001–5. He was elected a fellow of the Econometric Society in 1994, a fellow of the British Academy in 1999, and a foreign honorary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Bloomberg Businessweek
''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine published fifty times a year. Since 2009, the magazine is owned by New York City-based Bloomberg L.P. The magazine debuted in New York City in September 1929. Bloomberg Businessweek business magazines are located in the Bloomberg Tower, 731 Lexington Avenue, Manhattan in New York City and market magazines are located in the Citigroup Center, 153 East 53rd Street between Lexington and Third Avenue, Manhattan in New York City. History ''Businessweek'' was first published based in New York City in September 1929, weeks before the stock market crash of 1929. The magazine provided information and opinions on what was happening in the business world at the time. Early sections of the magazine included marketing, labor, finance, management and Washington Outlook, which made ''Businessweek'' one of the first publications to cover national political issues that directly impacted ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Gary Winnick
Gary Winnick is an American financier best known for founding and being Chairman of Global Crossing between 1997 and 2002, when it declared bankruptcy. As of 2015, he was Chairman and Chief Executive Officer of Winnick & Company, a Los Angeles-based private investment firm founded in 1985. In 1999, Winnick was listed by the Los Angeles Business Journal as the wealthiest Angeleno with a net worth of more than $6 billion; as of 2002 his net worth was listed at $900 million. In 2021, Winnick was named one of the LA500 by the journal. The Winnick Family Foundation has funded scholarships at Stanford University, Cornell University, Brown University, Tufts University and LIU Post, and endowed a faculty position at Columbia University. Early life Winnick was born to a Jewish family in 1947 and grew up in New York, New York. His father owned a restaurant-supply business. When he was 16, he got his first job at a Howard Johnson's on Northern Boulevard. He graduated from the C. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Joseph Nacchio
Joseph P. Nacchio (born June 22, 1949 in Brooklyn, New York) is an American executive who was chairman of the board and chief executive officer of Qwest Communications International from 1997 to 2002. Nacchio was convicted of insider trading during his time heading Qwest. He claimed in court, with documentation, that his was the only company to demand legal authority for surreptitious mass surveillance demanded by the NSA which began prior to the 11 September 2001 attacks. He was convicted of 19 counts of insider trading in Qwest stock on April 19, 2007 – charges his defense team claimed were U.S. government retaliation for his refusal to give customer data to the National Security Agency in February, 2001. This defense was not admissible in court because the U.S. Department of Justice filed an ''in limine'' motion, which is often used in national security cases, to exclude information which may reveal state secrets. Information from the Classified Information Procedures Ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Philip Anschutz
Philip Frederick Anschutz ( ; born December 28, 1939) is an American billionaire businessman who owns or controls companies in a variety of industries, including energy, railroads, real estate, sports, newspapers, movies, theaters, arenas and music. In 2004, he purchased the parent company of the Journal Newspapers, which under Anschutz's direction became the American conservative editorial newspaper ''Washington Examiner''. Anschutz is the son of Fred and Marian Pfister Anschutz In 1961, he bought out his father's oil drilling company, Circle A Drilling, and earned large returns in Wyoming. He invested in stocks, real estate and railroads. He expanded his investments to sports and entertainment companies, co-founding the American association football/soccer league Major League Soccer as well as multiple soccer teams, including the Los Angeles Galaxy, Chicago Fire, Colorado Rapids, Houston Dynamo, San Jose Earthquakes, and the New York/New Jersey MetroStars. Anschutz is the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Houston Chronicle
The ''Houston Chronicle'' is the largest daily newspaper in Houston, Texas, United States. , it is the third-largest newspaper by Sunday circulation in the United States, behind only ''The New York Times'' and the ''Los Angeles Times''. With its 1995 buy-out of long-time rival the '' Houston Post'', the ''Chronicle'' became Houston's newspaper of record. The ''Houston Chronicle'' is the largest daily paper owned and operated by the Hearst Corporation, a privately held multinational corporate media conglomerate with $10 billion in revenues. The paper employs nearly 2,000 people, including approximately 300 journalists, editors, and photographers. The ''Chronicle'' has bureaus in Washington, D.C. and Austin. It reports that its web site averages 125 million page views per month. The publication serves as the " newspaper of record" of the Houston area. Previously headquartered in the Houston Chronicle Building at 801 Texas Avenue, Downtown Houston, the ''Houston Chroni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |