The Dow lost 777 points yesterday. Sounds like a game…we lost points. Yes a 10% drop (Note – On "Black Monday", October 19, 1987, the Dow fell 22.61%).Yes today there was a loss of $1.2 trillion.I always ask the question on days like this…”Where did that money go?” OK how did the hosting industry fare. * Level 3 -16.00% * Limelight -14.50% * Internap -13.90% * Digital Realty Trust -13.60% * Equinix -10.60% * Savvis -10.20% * NaviSite -8.30% * Terremark -5.90% * Rackspace -3.70%Yes a bit of a slide.In Europe most exchanges dropped 3-5%. That was in the anticipation of the $770 billion bailout. In contrast the TOKYO Nikkei Stock Average fell 1.3%. – Tokyo trading ended well after the bailout vote collapsed. This could be a theme.I doubt if the foreign markets see this as wise. They origionally thought our government was acting rashly, tryng to spend $770 billion overnight. Now they know our legislatures have been working on this for 5 days, they have acted prudently. They have scaled it down to about $150 billion a day. Isn’t it time for a coffee break?In my last Blog I suggested that hosting companies look to Europe as a financing source. A reminder that the Concorde is no longer in service.Most of this was witten overnight – but as of this writing the Dow is up 200 points.
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NCC – the Hosting Business Broker
About Tom Millitzer
I am an M&A guy. I sell Hosting Companies. I want you to fulfill your dreams. If you are building your company or exiting for success...I want help you grow rich.
I started NCC International in 1994, we represented our first hosting company in 1997. NCC has completed over 400 assignments. If you are considering buying or selling you need to know me. I do not bite.
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