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Apologies if this has already been forwarded to the list. Linda Berube CoEast Plus Project Officer Co-East http://www.co-east.net [log in to unmask] ---------- Original Message ---------------------------------- From: gary price <[log in to unmask]> Reply-To: gary price <[log in to unmask]> Date: Sat, 13 Oct 2001 17:28:41 -0400 Full-Text at: http://www.thedailycamera.com/business/tech/13bnetl.html Word today (via the local Boulder Co. newspaper, The Daily Camera) that netLibrary is for sale after failing to find the financial help the company needed. The article also mentions that employees are welcome to stay with the company during this time BUT they will face MAJOR pay cuts. Key passages from the article: "The 230 employees, who were paid through Friday, were told Friday that they are welcome to return on Monday to help the company through its transition, but at in many cases a drastically cut pay rate. Each employee from receptionist to president will be paid $360 a week, roughly the equivalent of unemployment benefits." "Last December, netLibrary pulled out of its $82.2 million IPO because of market conditions. The company had hoped to be profitable by the middle of 2002" "More recently, the firm had launched an attempt to raise an undisclosed round of funding. Due to the market conditions, and the Sept. 11 events, that fell through," [Marge] Gammon, [a spokeswoman for netLibrary] said." gary Looking for More News, New Sites, Search Tips? Visit The Virtual Acquisition Shelf and News Desk http://resourceshelf.blogspot.com Gary D. Price, MLIS Librarian Gary Price Library Research and Internet Consulting [log in to unmask] --- To sign off from DIG_REF, send a message to [log in to unmask] with the command SIGNOFF DIG_REF. ________________________________________________________________ Sent via the WebMail system at alumnet.simmons.edu