Even if you missed Google’s official announcement last week you’ve probably heard by now: Google Chrome, an operating system designed to work seamlessly with the Google Chrome browser, will roll out in 2010.  Chrome is the company’s attempt to “re-think what operating systems should be-” it relies on cloud computing, and will be targeted at net books- inexpensive laptop computers purchased mostly for internet use.

It’s been a big year for Google.  In addition to announcing Chrome, they also unveiled Google Voice- by invite only, naturally- after purchasing the GrandCentral online phone service.  Google Voice isn’t quite as revolutionary as Chrome, though it has plenty of fans already.  Both Google Voice and Chrome are free, and provide most-if not more- of the features of competitors who charge for services.  A small business owner’s dream, right?  Cutting-edge services that offers professional functionality and easy user interface…for free?  Did Google just become your business’ new best friend?

Here’s an overview of these products and how they can have a big impact on your business:

Chrome- What Makes An Operating System So Important?
The operating system is one of the most basic components of your computer- chances are, you use a Microsoft OS if you’re using a PC (most business owners do).  The cost of the operating software alone can send the cost of a new computer into the thousands- you need to pay for the software itself, plus a license for each user.  Google Chrome, which uses cloud-computing technology, is free.

This means you can purchase net books, used, or refurbished computers- saving big on hardware costs.  Research company DisplaySearch has already reported a large surge in net books to retail outlets, anticipating that around 32.7 million will be sold next year- up from 16.4 million this year.

Using a cloud computing based OS (Operating System) is not only less expensive; it also allows more flexibility for business owners that travel or that work from the field.  You’ll have more data storage available at a less expensive cost, and are not tied to licensed products.  Ever tried to open a document that someone stored in WordPerfect?  A seamless OS/Browser experience eliminates this problem.  You can’t download WordPerfect or other Microsoft programs immediately, but you can install Google Docs or Open Office - two completely free office applications that create documents, spreadsheets, and presentations as easily as the Microsoft programs many of us are used to- in seconds.

Chrome isn’t available yet- it’s set to roll out at some point next year.  If you’re holding off making a computer purchase or upgrading operating software, waiting until then could be a good idea.

Voice- The Future of Phone Systems?
Voice is the new, Google-branded version of the GrandCentral technology the company purchased two years ago.  Google Voice works similarly to GrandCentral’s service model- you choose a phone number (the example on the Google blog shows how you can choose a number that spells out words) and program your own mobile devices or IP-enabled phones to ring when it is called, similar to most basic VoIP phone systems.

Voice has a host of cool features that are ideal for business owners: You can store voice messages and make calls using your computer, automatically transcribe voicemails for viewing as an email (enabling you to search emails and voicemails based on certain key words), and program certain phones to ring (office, home) based on who is calling.  Business owners who want a “mobile office” will be served well.  You’ll still need to pay for cell phone service in order to have your calls, texts, and data routed to your mobile device, similar to the way most other VoIP telephone systems operate.  Google Voice is currently available to past GrandCentral users and the general population by invitation only.

The New “Empire”?
Google’s motto, “Don’t be evil,” is often seen as sarcastic reference to Microsoft’s (the “evil empire”) industry domination.  A recent article in the Los Angeles Times pointed out this irony as Google introduces more and more products that are designed to work with other Google offerings.  Many worry about the security risks involved when one source is relied upon for every key business operation- especially when data is stored using cloud computing.  Time will tell if Google has plans to usurp Microsoft or even follow their established model for obtaining a customer monopoly over certain segments.  For now, enjoy the competition between the two- it seems to be producing better options for all small business owners.

Entrepreneurialism is characterized by an ability to find a way to flourish regardless of the setting or circumstances one finds oneself in. It is this individualism and spirit of resourcefulness that make the entrepreneur such an import icon in American economics, and world economics as well. So it is no surprise to find that the places where some of today’s biggest companies got started are as varied as the individuals who started them. Here are some examples of the birthplaces of some of the best known companies today.

Hershey Chocolate Company: Lancaster, Pennsylvania

The chocolate giant got started when founder Milton Hershey decided in 1894 to coat his caramel candies with sweet chocolate. The first Hershey Chocolate factory in Lancaster, Pennsylvania turned chocolate from a luxury item into mass-produced commodity that everyone could enjoy. Today, the birthplace of the Hershey Chocolate Company is a top tourist destination for chocolate lovers. People can enjoy chocolate-themed amusement park rides, relax at the luxury Hershey spa, which offers special chocolate treatments, and take a tour of the original Hershey factory.

Wal-Mart: Bentonville, Arkansas

Sam Walton, late founder of Wal-Mart, opened up his first discount retail store in the small town of Bentonville in 1962, under the name, “Walton’s”. Prior to this, Walton had been operating 16 Ben Franklin franchise variety stores, but the Bentonville Five-and-dime was the first one he opened under his name. Nicknamed “the Hustler” by his fraternity brothers at the University of Missouri, Walton had always had a penchant for finding new ways to make a dime.

Today, you can still visit the original Walton’s Five-and-Dime in Bentonville. It looks, from outside, much like it did in 1962, but inside you will find a sort of museum of Wal-Mart’s corporate history.

Apple: Los Altos, California

Apple Inc. CEO Steve Jobs and Apple co-founder Stephen Wozniak built their first computer in the garage of the Jobs family’s home at 2066 Crist Drive in Los Altos, California. Job’s father cleared up his car-restoration equipment and helped the young men haul a large wooden workbench that served as Apple’s first manufacturing base. “It was just the two of us, Woz and me,” said Jobs in a Fortune Magazine interview. The Apple I was first sold by a local computer store called The Byte Shop. The store paid Jobs and Wozniak $500 for each order.

McDonald’s: San Bernardino, California

Dick and Mac McDonald opened their first McDonald’s restaurant in San Bernardino, California in 1940. Originally from New Hampshire, the brothers had moved to California in 1920. Their first restaurant become instantly popular and served as the hangout spot for teenagers in the San Bernardino area. In 1948, however, the McDonald’s brothers changed their business model completely. The car hopping and extensive menus that attracted young people to McDonald’s weren’t catering to the growing family demographic. So the new McDonald’s model focused on cheaper pricing and speedy service, sans the complicated menus.

The Original McDonald’s has since then been demolished. The location of the original McDonald’s is now the site of a Juan Pollo Mexican food restaurant. However, the owner of Juan Pollo has build a McDonald’s next to his restaurant, for visitors interested in seeing the birthplace of today’s largest fast-food chain.

Google Inc.: Stanford University, California

Larry Page and Sergey Brin started Google as a research project when they were both Ph.D. students at Stanford University. Their idea was to create a search engine that analyzed links between websites to produce better ranking results, whereas other sites ranked results solely based on how often the search term appeared on the site. The domain name google.com was registered on September 15 1997 and the company was incorporated on September 4 1998 in Menlo Park, California.

If you know of more top destinations where creativity and entrepreneuralism began, let us know by leaving a comment.

Here’s a great opportunity for businesses that have grown wildly over the last few years: Inc. Magazine wants your story.  Winners of the Inc. 500|5000 will be featured in future Inc. print and online stories- a great way to gain publicity and recognition for your efforts in growing your company.

“Potential investors pay close attention to the Inc. 500|5000 list, and we received much investor interest over the past several years,” says Doug Fowler, CEO of SpectorSoft, a company named to the list several times four times since 2004.  Adds David Mammano, CEO of Next Step Publishing, named to the list in 2007: “Inc. has done a great job with the Inc. 5000 brand by making it a well-known, credible award known locally and around the world. It’s a nice universal stamp of approval.”

The award not only increases visibility for your business, it can also help feature your local community as a hotspot for growth.  Here are a few benefits winners of past awards have cited:

• Recognition: Company awards let employees know that their hard work matters

• Publicity: Along with the magazine feature, your business will be searchable on the Inc. 5000 database, and you’ll be eligible to attend the 2009 winner’s conference.  The Inc. award is recognized by customers, investors, and other businesses as one of the most prestigious for growing companies.

• Reputation: Many companies cited the boost in applications after winning the award.  National recognition allows you to attract and retain top talent.

• Community Visibility: Inc. also highlights winning companies by industry and geographic area.  Winning the award can be a great way to highlight your achievements in your own neighborhood.

• Inspiration: Women-owned and community-based companies are highlighted, allowing your business to serve as an inspiration to other entrepreneurs.

The mission of the 500|5000 contest is to reward those companies that are helping to jump-start the economy with rapid growth.  Applicants must have begun operations prior to 2005, and have sales revenue of over $2 million for 2008.  The contest deadline is approaching fast on May 22nd so visit the application page here for more details and specific qualifications.

If you are still starting out and don’t qualify yet for this contest, start now and grow your business with online marketing experts.

In a recent speech that addressed national concerns with the recent AIG bonuses scandal, President Obama urged Americans not to blame people’s fundamental desire for profits for the collapse of the U.S. economy, as it is this entrepreneurial (and oftentimes essentially opportunistic) drive that will motivate people to create new industries and business models that will lift the nation out of its current recession.

Contrary to many people’s belief, a recession is just as good a time as any to launch a successful new business. All that is required is that businesses find a way to cater to the needs of consumers. Recent history is filled with examples of companies that were founded during economic recessions and have gone on to become some of the biggest brand names today. Here are a few examples of companies that got their start during some of the harshest economic climates.

Hyatt Corp.

One of the largest international hotel chains in the world today, Hyatt opened its first hotel right next to the Los Angeles International Airport during the Eisenhower recession, which lasted from 1957 to 1958. There are now more than 365 Hyatt hotels in 25 different countries, offering top quality services.

General Electric

One of the oldest and most established corporate giants in America, GE was founded during the financial panic of 1873, which went on to become a full-on recession lasting six years. GE began with the invention of the first incandescent light bulb by American inventor Thomas Edison. GE ranks as the worlds tenth largest company today.

IHOP Corp.

The famous IHOP national restaurant chain first opened its doors to the public in Toluca Lake, California in July of 1958, during the Eisenhower recession. The company began franchising three years later, and today it boasts over 1,300 locations nationwide.

Hewlett-Packard

HP is one the biggest computer software and hardware manufacturers in the world. In 2007 it became the first tech company to exceed $100 billion in revenue, earning $104 billion. But HP, founded by William Hewlett and David Packard, started off as an electronics company run from a garage in Palo Alto, California at the end of the Great Depression. Its two founders formalized their partnership in 1939. Their original investment: $538.

Fortune Magazine

Fortune Magazine was founded by Time-cofounder Henry Booth Luce in February of 1930, only four months after Wall Street crashed and marked the beginning of the Great Depression.

Burger King

The famous fast food chain first opened in Miami, Florida in 1954. During the Eisenhower recession of 1957, its founders, James McLamore and David Edgerton, introduced Burger King’s signature Whopper burger. Today, the company has 11,000 locations in 65 countries.

Microsoft Corporation

Microsoft began in 1975. Its founder, Bill Gates, was a Harvard University dropout. His little company was located in Albuquerque, N.M. and it worked with rudimentary computing languages. Microsoft began its climb during the recessions of the early 80s with the introduction of its MS-DOS. Today, Microsoft is an international company that offers a huge range of computer products and services and boasts an estimated $60 billion in annual revenue.

Revlon Cosmetics

Started in 1932, with the Great Depression in full swing, Revlon went on to become one of the most recognized names in cosmetics today. Its founders, Charles and Joseph Revson and chemist Charles Lachman, pooled their resources to develop a new kind of opaque nail enamel. In the course of the next six years, Revlon became a multimillion dollar company.

Trader Joe’s

Another Eisenhower recession era company, Trader Joe’s began in 1958 as a chain of local convenience stores called Pronto Markets. In 1967, the company changed its name to Trader Joe’s. Today, it operates over 280 stores nationwide, and offers exclusive products under its own name brand.

Cable News Network (CNN)

Ted Turner founded CNN during the 1980s recession. It offered the first 24-hour news channel. Today, around 1.5 million people around the world tune in to watch CNN.

Sports Illustrated

The famous sports magazine was founded in 1954, at the tail end of the economic recession. It turned out to be an ideal time for Sports Illustrated’s launching, as it preceded a sudden boom in professional sports. The company now sells about 3 million copies of its magazine each week.

Calif Bar

The Calif Bar, a famous energy bar in the U.S., was created in the middle of the early 90s recession. Its founder, Gary Erickson got the idea for the product when he decided, during a 175 mile bike ride, that he could no longer stand the poor-tasting energy bar he was carrying with him. The Calif Bar is a tasty and environmentally friendly energy bar.

The Jim Henson Company

Famous for its puppet characters, the Jim Henson Company was founded by puppeteer Jim Henson in 1958. Today, the company is managed by Henson’s children and it continues to create popular kid-friendly television shows and films.

MTV Networks

MTV first aired during the economic recession in 1981. It showed only music videos that were hosted by various “video jockeys”. MTV went on to become one of the biggest pop culture influences throughout the world.

FedEx Corporation

FedEx was founded by Frederick W. Smith in April 1973 as Federal Express. Today, FedEx manages over 7.5 million shipments a day from all over the world.

LexisNexis

A computerized legal research service, LexisNexis lunched during the 1973 oil crisis, which led the U.S. into a severe recession. Since then LexisNexis has grown to be used in 100 countries by members of law, government, business and educational institutions.

As a business owner, you know how important it is to keep up with the local, national, and international economy. Your financial decisions largely depend on the happenings of the business world and the decisions your competition makes.

For those of you that can’t afford a flat screen television in your office, here’s a list of 12 business news site you can check out online and for free.

1. MSNBC Business
   MSNBC provides a sweeping view of the business world with links to a variety of business stories. From the state of RV sales to the President’s latest statement on the economic stimulus plan, you can find them all in a single page. And while it might be too much to take in at once, scrolling over the tabbed sections on the left-hand side of the page will reveal the top headlines of the day.

   

2. CNBC Business News
   CNBC is an excellent site for international business and foreign markets news. They have separate tabs for the United States, Europe, and Asia that you can easily locate on the main page. On this site, you can also find out what the world’s CEOs have to say about the day’s top business headlines.

   

3. CNN Video
   CNN has an easy to use media player. You can search through the top stories of the day and create a playlist of the ones you find interesting. Another useful feature is the 5-6 minute-long Business Bulletin, which provides you with the business news highlights of the day for when you’re low on time.

   

4. ABC News
   Here you can find the latest U.S. business news, especially as it pertains to the American household and the ways in which national business affairs affect people’s day to day activities. There’s a section dedicated to small business, and Money Matters offers practical tips for personal finance.

   

5. CBS News
   While it doesn’t have the depth of other sites, or even a distinctly labeled business or money section, CBS always has videos that cover the latest and most prominent bits of news concerning the national economy. If you’re looking for a quick overview of the most popular stories of the day, this site is the place to go.

   

6. USA Today
   USA Today’s news video site is straightforward and simple with a selection of channels you can scroll through. All you have to do is click on the Money channel and select from the categories, which go from recent headlines to personal finance.

   

7. FOX Business
   Unlike many of the other news sites, which treat their business sections as simply that, FOX has a much heftier site, foxbusiness.com, dedicated exclusively to business news. The video player works well, and you don’t have to sludge through the other news categories to find what you want. Here, it’s all business.

   

8. SBTV
   Small Business Television: the name says it all. This is the most comprehensive video news site dealing with the world of small business. From the latest news and resources to upcoming events and useful stories on how market and run a more efficient company, this site has it.

   

9. Reuters
   A good site for national and international business news, Reuters covers a variety of business topics having to do government policies and the world of big business. A good place for investors and those interested in how politics affects the market.

   

10. Bloomberg TV
    Bloomberg TV is a site that provides in depth analysis of worldwide financial markets, as well as real-time financial updates on stocks, currency and trade. An excellent, comprehensive resource for those looking to find accurate and up-to-date numbers and statistics.

    

11. Yahoo Business News
    A straightforward look at the day’s business highlights, Yahoo business news videos come as a single, constantly updated list. Just scroll through to find what you’re looking for.

    

12. Businessweek OnlineAside from publishing one of the leading business magazines in the country, Businessweek has a fairly wide-ranging and comprehensive website where you can watch the latest market updates as well as news on how the latest technologies are affecting American business.

According to recent data from the U.S. census, small businesses create 98% of new jobs.  Businesses with less than 100 employees generate more than 50% of the nation’s GDP.  So it’s with good reason that President Obama promised help for small businesses as part of the Economic Recovery and Reinvestment Act of 2009, the “stimulus plan” for short.  So what help does the plan give to small businesses?  How can you take advantage of changes to tax rules and lending restrictions?

The stimulus plan provides several different provisions that can save small companies money on taxes, increase access to loans, and provide grants for certain small businesses.  For applicable information about any of the tax provisions, consult your tax preparer.  Here are a few of the ways you can take advantage of the stimulus plan:

What the plan does: Extends last year’s expanded §179 deduction, allowing a business to deduct up to $250,000 in capital expenditures.
What this means: If you purchased business equipment last year (and haven’t filed your taxes yet) or plan to make a purchase this year, you can “write off” more of the cost.  If you’ve got the available budget, now is a good time to make big purchases like copiers or pos systems.

What the plan does: Extends last year’s increased 1st year depreciation deduction, allowing businesses with less than $15 million in receipts to deduct 50% of the value of property placed in service in 2008 or 2009.
What this means: If you haven’t filed a 2008 tax return and made some big purchases last year on machinery, equipment, or other business assets such as phone systems, you can claim a depreciation deduction of 50% of the cost.  If you’ve been holding off on purchasing new equipment, buying it this year can net some big savings in the form of lower taxes.

What the plan does: Expands the carryback of net operating losses from 2 years to 5 years for businesses with less than $15 million in gross receipts.  This provision also applies to the 2008 tax year.
What this means: If you had a bad year last year, or are on track to post a net operating loss for 2009, you can “carry back” the loss for up to 5 years, applying it to prior returns.  This means that ’08 and ’09 losses can be used to offset tax amounts from more profitable prior years.

What the plan does: Provides a tax credit of 40% of the first $6,000 wages paid to members of 2 new groups: unemployed veterans and disconnected youth.
What this means: Unemployed veterans are service members discharged from 2008-2010 who received unemployment benefits for 4 weeks or more in the year before your business hired them.  “Disconnected youth” are workers aged 16-25 who have not attended school or had regular employment for 6 months.  These groups can be great hiring pools. Military veterans have often received expert training, and younger workers are in plentiful supply.  The work opportunity tax credit applies to other groups, as well.  Ask your tax preparer for more information if you think you might qualify.

What the plan does: Allocates $730 million to the Small Business Association.  Here’s where some of the money goes:
•    Reduces or eliminates fees on certain SBA loans
•    Increases the loan amount the SBA will guarantee, up to 90% for some loans
•    Creates a new loan program that helps businesses meet existing debt obligations
•    Expands the SBA’s microloan program
•    Expands amounts for technical assistance grants to microlenders

What this means: You’ve heard of big companies getting bailouts, right?  These loans and grants are designed to help small businesses in the same way, by providing immediate funds to help smaller businesses stay in operation.  For more specific information, visit www.sba.gov.

The stimulus plan also provides loans, grants, and other methods of financial assistance to companies in certain industries, specifically alternative energy and renewable resources, among others.  You can visit www.grants.gov, www.govbenefits.gov, or www.cdfa.gov for more information.  Make sure you get your information from a reliable source, and that you don’t pay for applications, CD-ROMs, or other forms of information.  Information about government programs is always free- make sure you never give up your own financial information, credit card number, or bank account number over the internet to learn more about government grants.

The information contained in this article is for educational purposes only, and is not intended for use as tax or legal advice.  For information about the tax provisions specified here, please consult your attorney or tax preparer.

Although women have owned successful companies for decades, over the past decade or so, women are launching new businesses by record numbers. According to diversitybusiness.com, “women-owned businesses contribute over $1.4 trillion in sales to the U.S. economy.” Success like that deserves some attention.

In January 2009, diversitybusiness.com announced they will hold their annual national business conference, at which the top women-owned companies will be recognized and awarded. They also announced their Div500, which is the annual listing of the nation’s top 500 women-owned businesses. The women-owned businesses that make their list range in revenue size from $20 million to over $1 billion. To join diversitybusiness.com and the rest of the nation in recognizing successful women-owned companies, below is a list of the top women-owned companies of recent years. These women-owned companies are continually thriving, bringing in millions to even billions of dollars annually.

• Omega World Travel – This woman-owned company tops the Div500 list as the most influential and successful business of 2008. The company is based in Fairfax, Virginia and sees a whopping $1.2 billion in annual revenues according to The Washington Post. Omega World Travel offers a broad range of travel services. The extremely successful company was launched in 1972 by Gloria Bohan, who is now President and CEO of Omega World Travel. Bohan’s drive and success has led to an accomplished career and an induction into the Enterprising Women’s Hall of Fame.
• Zorch – Named the number one woman-led company in 2008 by Inc. Magazine, Zorch was launched by the driven Nicole Loftus in 2002. Zorch is an online portal from which corporations can purchase a variety of promotional merchandise. By creating this company, Loftus has saved and will continue to save her clients millions of dollars each month by cutting out middle man distributors and putting corporations directly in touch with a network of manufacturers that meet Zorch’s high-quality standards.
• Willett Travel – This Los Angeles, California-based business was established way back in 1943. It is Los Angeles’ oldest independently owned travel agency and serves all travel needs, from corporate travel to leisure travel.
• Exact Staff, Inc. – This is another California-based woman-owned company. Exact Staff, Inc. was founded in 1996 by Karenjo Goodwin. The accomplished company has been recognized by the Los Angeles Business Journal as one of the Top 100 Women-owned Businesses in California. Exact Staff is a staffing agency, finding temporary and full-time employees to match the needs of various employers. Goodwin, now President of the company, has nearly 20 years of experience and leadership in the employment industry and has been a featured speaker at various events and conventions. Additionally, Goodwin has authored several industry-related articles.
• Maria’s Italian Kitchen – This thriving restaurant first opened in 1975 in New Jersey. Owned and run by Maria Alfano, this family-style eatery has had huge success, so much that Maria’s daughter, Madelyn Alfano, opened another Maria’s Italian Kitchen in California in 1985. Since then, Madelyn has expanded the company to nine more locations.
• Associated Speech and Language Specialists – One interesting aspect of this successful women-owned business is that all employees are also women. The all-female company is owned and was founded in 1994 by three moms. The company evaluates and treats various speech, language comprehension, communication, and swallowing disorders.
• Clockwork Active Media Systems – This successful woman-owned company designs interactive web-based applications for business clients. Co-owner Nancy Lyons helped re-build this company in 2002. Among her accolades, Business Journals 40 under 40 and Business journal’s Top Women to Watch.

The Financial Accounting Standards Board has recently announced that it plans to release its codification of accounting standards in July of 2009.  The codification does not change Generally Accepted Accounting Principles (GAAP), rather it re-organizes, codifies, and simplifies the existing structure of guidance which had become a labyrinth of convoluted accounting literature.  The new codification will be based on a topical format rather than the existing format that is organized by standards.  So, how does this affect our San Diego accounting firm, other San Diego accountants, CPAs, and others within the industry?  And is this a change for the better?

To begin, once released, the codification will supersede all existing guidance from the Financial Accounting Standards Board (FASB), the American Institute of Certified Public Accountants, emerging issues task forces, and other related sources.  So, say goodbye to every acronym that once went by FASB, FIN, EITF, SOP, ARB, SAB, etc, etc, etc…  All of this literature will now be considered non-authoritative.  This puts all of those in the accounting environment on a level playing field in terms of locating certain accounting related literature and guidance, as we all must now familiarize ourselves with the changes so that we are ready for the transition.

Next, as opposed to the current format, the new codification will be topical in format, reorganizing U.S. GAAP into about 90 accounting topics.  This will greatly simplify the research process.  As opposed to running the risk of being unaware of existing guidance, the researcher can now take comfort that all information on the related topic is organized together, thus reducing the risk of noncompliance with standards and reducing time and effort in research.

Once released on July 1, the codification will become the single official source of nongovernmental U.S. generally accepted accounting principles, superseding existing literature from FASB, the American Institute of Certified Public Accountants, emerging issues task forces and related sources.   After that date, all other literature will be considered non-authoritative.

The current codification changes are a step towards simplifying and organizing GAAP as it has become today.  In addition, it is a switch toward the more topical approach, which is consistent to the eventual plan of converting to the International Financial Reporting Standards (IFRS).  Most of the younger generation accounting and financial personnel will applaud the change as overdue.  Some seasoned veterans of the profession may grumble about having to find where everything is again.  Overall, this is a positive step for the FASB and will assist in easing the transition into IFRS.

The near-trillion dollar bailout of United States financial institutions by the government has been called a “savior” by both the media and elected officials. It has been focus of discussion in this year’s presidential election, and will be in the year’s to come. But who really stands to gain from the bailout? The following businesses should see glimmers of hope thanks to the money being poured back into their industries.

Investment Banks

Obviously, the number one business that will benefit from the 700 billion dollar bailout is the investment bank. Institutional investment banks are essentially receiving mouth-to-mouth at a time when they are dead on the operating table. The cash infusion into these businesses will allow them to continue to support businesses throughout the world with their investments. In recent news many investment banks are folding during this financial crisis. On September 15th, Merrill Lynch was acquired by Bank of America in a $50 billion dollar deal. In the largest banking failure in history, Washington Mutual (WaMu) was recently purchased by JPMorgan Chase for $1.9 Billion dollars. Also, Wachovia is looking to be purchased by either Wells Fargo or Citigroup Inc sometime this week. The two companies are currently working with the U.S. government to settle their bids on the Wachovia Securities.

Consumer Banks

Nothing kills a bank’s marketing campaign more than…not having any money! The flow of cash back into the top tier financial institutions of this country will increase lending on down the line. In addition, the perceived stability will help maintain consumer deposits and small home and business loans.

Auto Dealers

Again, until things stabilize, nobody is lending much money to anyone. Few industries feel the negative impact of this fact more than the consumer auto industry. It is the ability to hand out a large number of relatively small loans that drives every car dealer from Alaska to Florida – and without it, the future looks bleak.

Retailers

Although most Americans probably don’t understand the direct link between the bailout and their personal finances, the association of bailout-to-consumer confidence is a strong one. By passing a measure to bail out the country’s leading financial institutions, the U.S. government is saying, in effect, that everything is going to be “OK” and that shopping for consumer goods is acceptable behavior. Stores like Target and Banana Republic should reap the benefits of this inference. The holiday season will be the perfect measurement of consumer’s willingness to spend.

Internet Businesses

Stock analysts will tell you that the strongest stocks are those that maintain their value during a down economy. Through these recent dark times, the Internet sector has been one of the few areas of the business world that has seen a steady flow of investments. It stands to reason then, that when things begin to move forward post-bailout, the Internet economy will continue to grow.

The tourism industry

The weak dollar and an uncertain economic climate have really hurt the travel industry. The bailout, while not providing a quick-fix for the travel business, should at least give people the breathing room required for them to consider domestic and international travel. (NOTE: falling gas prices have already helped this industry see small trickles of renewal in the past several weeks).

Although the bailout plan has now been approved by the Senate, Congress and President Bush, things are far from rosy in the United States. In order to develop stability and confidence moving forward, changes must be made to the way we do business. Expect loan officers to be more stringent, and many institutions to become more conservative in the years that follow. De-regulation and free-spending have gotten us into this problem – and only more careful planning will see us through to another day.

The introduction of the internet brought an entirely new culture to our world in the mid 1990s. The time from 1995-2001 has been called the dot-com boom or the dot-com bubble, a time when countless companies got their big break on the internet, although their success may have been short-lived. The combination of rapid increasing stock prices and availability of venture capital funding allowed for new dot-coms to enter the market. The sudden bubble burst in the early 2000’s caused the sudden downfall of many of these new companies.

Many dot-com companies grew at rapid rates due to the fresh nature of the internet, and stocks for these companies sky-rocketed in a short period of time. As the year 2000 approached, a million new web pages were created every day. Shared investing gave dot-com companies the resources they needed to grow quickly, but those with poor long-term plans ended up folding in a short amount of time. Once the freshness wore off, companies’ profits never progressed, and some customers began turning back to companies that gave them exactly what they needed, rather than ones that seemed new and exciting.

So which companies are we missing in the world today that never made it in the dot-com struggle? Below is a list of companies, who couldn’t survive the dot-com burst. They either sold-out, went bankrupt or simply fell apart altogether:

1. Boo.com - Boo.com’s intention was to sell branded fashion apparel over the Internet, but after spending $188 million dollars in just 6 months it eventually had to liquidate and went bankrupt in May 2008. Boo.com is now a travel review, hotel review, and travel guide site with various trip planning utilities.
2. Beyond.com – A combination of PhillyJobs.com launched in 1998, and 4Jobs.com acquired n 2000, this job generation site provided professionals with a resource for finding new jobs. In 2002 they transitioned and re-branded themselves into Beyond.com, who expanded to include more than 1,000 job search sites with the acquisition of MegaJobSites.com.
3. Boxman AB – Boxman AB was a European based online retailer of home entertainment with the goal of the being the European Amazon.com. After limited success in the fresh market, Boxman AB went bankrupt in 2000.
4. CDNow - CDNow became a retail website in September 1994, much earlier than most dot-com startups. CDNow began struggling in 2000 and was acquired by Bertelsmann for its new BeMusic internet music group. In 2001 Amazon.com bought CDNow and is successfully running it to this date.
5. Pets.com – Pets.com was known best for its mascot the Pets.com sock puppet, rolling out city by city marketing campaigns. The company grew rapidly during the dot-com boom, and aired its first national commercial during the 2000 Super Bowl which cost the company $1.2 million. The company was not profitable and continuously searched for additional funding for venture capitalists. After no success in acquiring additional funding Pets.com closed its doors on November 6, 2000, leaving 320 people unemployed.

Who did survive?

Even though the early 2000s was a tough time for most dot-com companies, it is estimated that 50 % of dot-coms at least made it through until 2004, but then weren’t able to pull it back together in the end. However, there are some that survived the dot-com burst and are still doing well today, though they most likely took some sort of a fall during the burst. Amazon.com, Priceline, and eBay have proven they can weather the storm, as well as Travelocity, Paypal, and Yahoo!.

Even though there were many casualties in the dot-com boom, our world wide web is a better place because of all the lessons learned. Many great, new ideas were formulated in the late 1990s as entrepreneurs began seeing the potential that the internet provided. In many cases, as companies learn from past mistakes, investors are becoming more able to carry out the great plans of the dot-com period.

Additional Companies who didn’t make it alive:

• Alcatel
• Altavista.com
• DoubleClick
• eToys.com
• eXcite.com
• Flooz.com
• FreeInternet.com
• GovWorks.com
• Kozmo.com
• Kibu.com
• LastMinute.com
• Lycos.com
• NetApp
• Netscape.com
• TheGlobe.com
• VeriSign
• WorldCom