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Failures

by Mike Masnick

Mon, Apr 16th 2001 1:53pm





To Net Hell And Back For Canadian Mining Company

from the go-for-the-gold...-er...-tantalum dept

Here's the story of a Canadian mining company that changed its business around to become an internet company, which is now going back to mining. Of course, in moving back to the "old economy" it turns out that the new metal they're mining, tantalum, is apparently important in very "new economy" capacitors.

4 Comments | Leave a Comment..


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  1.  

    Jackpot Enterprises, Now J Net

    identicon
    Clous, Apr 16th, 2001 @ 2:19pm

    Another company that would be interesting to look at /track is JNet Enterprises (NYSE: J):

    http://cnnfn.cnn.com/MGI/snap/4876N.htm

    They had completely switched their business model about a year ago, from a slot machine operator to venture fund for b2b businesses. They had a lot of extra cash and thought that turning into a venture fund would provide a higher return-on-equity (ROE) than investing in growing their core buisness.

    Now the stock is down to $3.80, and trading at a PE ratio of 3.8. The last investment I could track was eStara, a developer of live Web voice solutions for eBusiness:

    http://www.cnbc.com/news/news/conewsstory.html?sym=J&id=307b8478

    Wonder if they will switch strategies back to old economoy slot machine operation model or not?

    Wonder what their strategy will be.

    [ reply to this | link to this | view in thread ]

  2.  

    zapata?

    identicon
    ScooterBoy, Apr 16th, 2001 @ 2:42pm

    does this mean that zap.com (formerly zapata) is going to go back to their ol' fish oil business? i've always thought that fish oil was a growth industry.

    [ reply to this | link to this | view in thread ]

  3.  

    Re: zapata?

    icon
    Mike (profile), Apr 16th, 2001 @ 4:26pm

    And sausage casings. Don't forget the sausage casings.

    I believe the last announcement was that zap.com was (1) separate from the fish oil part of the business and (2) dead dead dead.

    [ reply to this | link to this | view in thread ]

  4.  

    Re: zapata?

    identicon
    Ed, Apr 16th, 2001 @ 9:42pm

    Zapata was responsible for 4 of the 101 dumbest moments in e-commerce history recently posted. According to that, zap.com has been dead for years. And before it died, it was spun off: "The marine protein people don't want to know about the Internet, and the Internet people don't want to know about marine protein..." quoth the CEO.

    [ reply to this | link to this | view in thread ]


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