Wednesday, November 30, 2005

Another prediction: no traffic jams due to flying cars

This month in 1992, Business Week declared that the computer industry was "on the skids." Thankfully, most investors heeded their advice and never invested in MSFT, CSCO, and INTC during the nineties.

With IBM projected to lose $5 billion in 1992, Business Week describes the computer business as 'an industry on the skids.' The magazine cited layoffs at most established computer companies, such as IBM, as well as newer firms like Sun Microsystems Inc., as evidence that the industry was saturated.

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