It seems that when companies construct and move in to massive new headquarters, more often than not the event ends up marking the beginning of their downfall.
Remember the Pan Am building in New York City? The downfall of Pan Am can be traced directly to 1963 when Pan Am moved into its brand new highly-visible headquarters. Pan Am is long since departed. For many years the building has been rebranded as the MetLife building.
AT&T’s new building was completed in 1984 at the very same time that it had already been under an order to break up its telephone monopoly. Charles Brown decided to keep long distance and divest AT&T of the regional operating divisions that subsequently became known as the “Baby Bells.” Who remembers when long distance was actually a big thing?
Sears Tower opened in Chicago in 1973. About the same time, Sears stock began a decline from which it has never managed to recover to it’s former glory. Even before Sears Tower opened, there were already signs of trouble as they failed to recognize new competitors such as K-mart that were already eating into their business.
Tech companies seem to suffer the same curse of the new headquarters.
In 1999, Excite @ Home (remember that?) moved in to a shiny new headquarters across the street from it’s original location. Excite @ Home only had one profitable quarter. After the move to the new HQ, it entered a $35 billion dollar death spiral.
Remember when AOL merged with Time Warner? AOL Time Warner began building a new corporate headquarters in 2000. Between the time construction started until the building actually opened, AOL Time Warner stock had lost about 78% of it’s previous value.
Yahoo burned a bunch of money on new corporate headquarters a number of years ago. What ever became of Yahoo? Remember the jingle – “Yaa Hoo!!!”
So, when companies start talking about building that massive new headquarters, it is a safe bet to expect that their inevitable downfall has started in earnest.
Received the news late this afternoon that my Grandfather on my dads side of the family had passed away. While expected still has hit me like a ton of bricks. I am luckier than most as I had all of my grandparents up to a few short years ago. All lived into their 90’s and went out on their own terms which is all one can hope for at the end of a long fruitful life. On my past show we where close to the end as my Grandfather was reaching up and calling out my Dad’s name. So I know that my Dad was waiting for him and that he is in a better place. I will likely be heading to Michigan either Wednesday to Thursday so if there is a show it will be from Michigan..
Congratulations to Melisa Strayer she is out last listener appreciation month winner. Congrats to all of the winners this month, and a big thank you to all of you that participated in the contests.
Congrats to Steve Jensen for winning a iPod Nano.. Fill out the survey to win tonight. I think you will have a lot of fun with me in the show today, as every computer in my studio was out to get me it seemed today. Plus I have a stack of tech news that you are not going to want to miss as we break the tech scene down for you.
As you can see there is a link below that has a no-follow tag on it that takes you to the new show notes page. I explain in the show tonight the reason for the change. There may yet be a software solution here at GNC. But we have to do some more investigating on how to implement it. But one thing I am pretty sure of the list of links to all of the articles I cover are forever gone from within the show notes blog post.
Tonight I take you on a tech journey that covers a wide range of topics including some cool stuff happening here at Geek News Central. I want you to pull up a chair or watch the show from your lazy boy as I break down the latest tech news. You have a great chance to win a cool prize in today’s show so listen to win.
May will be the month of giveaways, listen to win. I also go into some of things that I have been doing which you are probably already aware to ensure the stability of the show for the long hall. Extended dialogue time on this show but with a hard hitting tech show as well.