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What Happens When Winners Like Google Hit the Skids
Posted Mar 10, 2008 12:50pm EDT by Henry Blodget in Investing, InternetAs CEO of DoubleClick, Kevin Ryan helped grow the company from a small private business with a handful of employees to a global behemoth with more than 1,000. Then trouble hit.
After seeing nothing but good times for its first five years, DoubleClick plunged into the horrific 2000-2003 Internet downturn. Over the space of two years, it had to radically cut costs, watch most of its clients go out of business, and fire half its employees.
Now another former stock-market darling, Google, appears to be headed into its own "rough patch." Kevin talks about the challenge of managing a company through this period -- including the gut-wrenching experience of going from being admired as a great leader and CEO to being excoriated as the jerk who fired hundreds of loyal, hard-working colleagues.
Kevin thinks Google will have to fire some people over the next year -- a first for a company whose cozy, opulent Googleplex work environment has always seemed just short of paradise. Kevin thinks Google is a great company and will power through the downturn. But in the meantime, he thinks, Eric, Larry, Sergey, et. al., will take some major lumps.
58 Comments
skeptical - Monday March 10, 2008 01:10PM EDT
How can this crook, Blodgett, be employed in any capacity?
Ricardo O - Monday March 10, 2008 01:15PM EDT
Thanks to our stupid goverment Stocks Stink :-(
arlash - Monday March 10, 2008 01:31PM EDT
Yes, it's all the governments fault that the stock is over valued. What a tool. Get a grip Ricardo. Class envy does not sell here, nor do truthers and conspiracy nuts. Go away.
arlash - Monday March 10, 2008 01:32PM EDT
Yes, it's all the governments fault that the stock is over valued. What a tool. Get a grip Ricardo. Class envy does not sell here, nor do truthers and conspiracy nuts. Go away.
rasta - Monday March 10, 2008 01:32PM EDT
hahahaha.....you're going to see about 100 "enron's" happen in the next few years. and guess what? you're going to borrow cash from china to help bailout the criminal idiots who perpetrated this mess. never underestimate the stupidity of the american people.....getting the shaft, complaining about it and powerless do take control of their own money. it's truly fascinating watching the meltdown take place....buh bye
volcanik - Monday March 10, 2008 01:33PM EDT
stocks dont suck if you know enough about the market to short it.
madmilker57 - Monday March 10, 2008 01:38PM EDT
well...."skeptical" it has to do with his hands! maybe that Cherry on a Hill thing ...... should had been call Weeping Willow Persimmon Spout!
Nitin - Monday March 10, 2008 01:48PM EDT
Henry Blodgett has lost all his credibility, he was so wrong about everything during the dot com bust.
George Miller - Monday March 10, 2008 01:52PM EDT
It's still a fabulous company, but the stock price got ahead of itself. If they manage through the downturnm they'll cokme out fine and I'll buy lower.
Thirumala Gupta A - Monday March 10, 2008 02:04PM EDT
I dont like this guy. He literally took my money. I had double click stocks purchased at 80$ and then they sold the company to private investors and got me few dollars and then private investors sells the company to google for billions. This is just cheating a average retail investor.
smidaben - Monday March 10, 2008 02:09PM EDT
Why is Google's stock price worth over $400 and why is the company worth over 100 Billion? There are so many search engines out there. The internet continues with or without Google.
togi1717 - Monday March 10, 2008 02:30PM EDT
time for those NYSE floor traders to dust off their Dow 10,000 hats
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lewisj49 - Monday March 10, 2008 01:01PM EDT
stocks suk