Where’s the hype? Where’s the hoopla? This, officially, is the beginning of the new millennium. But no-one seems to pay much attention to these little technicalities. Last year everyone binged on Y2K and when it was all over they kicked themselves like drunks on New Year’s Day, embarrassed by what they’d done the night before, swearing they’d never touch another drop.
The beginning of the year is a time of change. It’s a time when you make several resolutions and hope you’ll stick to at least one of them. You promise yourself you’ll join a gym or cut down on caffeine or read that classic novel that’s sitting on the bookshelf unread.
On New Year’s Day the air is crisp and crackling with possibility. What will the coming year bring? How will the markets do? Is the slump over? What about the Fed? What about inflation? Oil prices? Will Congress be split, locked and immobilized on every issue?
Though many matters are dubious, some are crystal clear. In the first quarter we will witness a change in the US stock exchanges when they switch trading to decimals. This one answer brings several questions, such as how the switch will influence price spreads.
Another first for 2001 will be a new batch of international domain names, including dot-biz, dot-pro, dot-name and dot-coop. The Internet Corporation for Assigned Names and Numbers (Icann) has approved the addition of several new suffixes and more are expected soon. The decision should free the gridlock created by the profiteering culture of domain name pirates. Microsoft can now claim microsoft.biz. Madonna can claim madonna.name without having to duke it out with pornographers in court.
On the other hand, there is bound to be more confusion in chat rooms and message boards. You can practically hear the alibis already: ‘You bought XYZ.com?! I said XYZ.biz! Sell! Sell! Sell!’ Companies with a dot-com moniker should get in line early to claim their dot-biz names. By this time next year the internet will seem a little more… multicultural.
You may have noticed Investor Relations has kicked off 2001 with a new look. The official strategy was to ‘update, while maintaining old ideals.’ (Our lawyers advised us to add a safe harbor clause, but we dashed their warnings in a fit of New Year bravado!) This new mag promises to be a little more fit, a little less caffeinated and a little more charged with classical references. And in case you get that sinking realization that you forgot all about those resolutions you made, don’t worry. You can sit back, relax and live vicariously through these pages. At least for a while. Then, before you know it, it’ll be earnings season again; life will speed up, things will get hectic and you’ll remember that truism you hadn’t thought about since last year at this time: some things never change.
