[EAS]Retro Attitudes
pjk
pjk at design.eng.yale.edu
Wed Dec 18 18:16:22 EST 2002
Subject: Retro Attitudes
(from NewsScan Daily, 18 December 2002)
'THE GAME OF THE NAME'
A study by a group of finance professors at Purdue University shows
that companies that shed their dot-com names, or some other hip, New
Economy variation like E*twoMEDIA, saw their share prices rise 15.8%
the day the news hit the market and a total of 21.6% in the 30 days
following the switch. "I think we are very firmly stating investors
are irrational, and here is one of their biases," says P. Raghavendra
Rau, one of the study's authors. The group uncovered a number of
companies that had played the dot-com game both ways -- adding it on
a couple of years ago to get a boost, and then dropping it recently
to get yet another boost. For example, the company formerly known as
Publishing Co. of North America changed its name to Attorneys.com in
2000, a move that nearly doubled its share price. A year later, it
dropped the dot-com moniker for the more conventional 1-800-Attorney,
netting another 40% surge in stock prices. The full study, titled
"The Game of the Name: Valuation Effects of Name Changes in a Market
Downturn," can be found at www.mgmt.purdue.edu/faculty/rau. (Wall
Street Journal 18 Dec 2002)
http://online.wsj.com/article/0,,SB1040163285667930633.djm,00.html (sub req'd)
'DISTRESSED' RECORDINGS ARE THE LATEST THING
Retro is "in" in digital music, with musicians ranging from rapper
Eminem to country singer Toby Keith engineering their latest CDs to
include the kinds of hissing and popping sounds that marred their
vinyl predecessors. Following the lead of furniture makers who hammer
away at their products to make them look "distressed" and jeans
makers who pre-fade their clothing to save customers the bother,
musicians are using computer technology make songs recorded in
crystalline pure digital audio sound as if they've been abused by the
wear and tear of an overworked turntable at a fraternity
free-for-all. "A lot of contemporary recordings can sound very
similar," says singer-songwriter Pete Yorn, whose "Life on a Chain"
hit starts out sounding like a battered 78-rpm. "So, an old record
that's very dirty sounding and all staticky can sound pretty good
when you put it on." The trend has its proponents, who say it evokes
a bygone era: "It does give you a historical reference and point of
view, and it brings back a certain listening experience that you
don't get from a CD. I don't think it's necessarily a more desirable
sound. It's like the Technicolor film process. It doesn't look more
realistic than the color we have today, but it can be more
beautiful," says Rick Rubin, head of American Recordings and producer
of the Beastie Boys, Run-DMC, Johnny Cash, Tom Petty and others. On
the other hand, some say getting nostalgic for the crackle of vinyl
is akin to pining away for the smoky exhaust of a 1964 Studebaker. "I
think it's kind of silly," says Glen Ballard, a Grammy-winning
producer, songwriter and arranger who's worked with Michael Jackson,
No Doubt, Christina Aguilera and others. "If it's used as a special
effect for some real purpose, I think it's fine. But on evoking
nostalgia, especially for a lot of listeners who haven't played a
vinyl record in their lives, it's sort of two steps removed from any
real-world connection." (Los Angeles Times 18 Dec 200)
http://shorl.com/hekirujyrori (sub req'd)
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Not good news for the proponents of the new proposals for digital AM
and FM radio, and for the continuing struggle of HDTV for market
share. --PJK
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