Nua Closer

Evil Phil

Nua have closed, it's been blamed on poor business sense on behalf of the CEO. Which appear to be true, but does this evidence of a downturn in the IT sector? I know tech stocks have crumbled, but is anybody worried about their future?

answers on a postcard...

Draco

Places like Nua closing are a good thing as all the people who are ****e won't get another job and those that actually have some talent will. A thining of the herd was long needed.

Hecate

another Eircom subsiduary gone west...

dogs

Shouldn't this be on the Humour board ?

Magwitch

I have to say I agree with Draco. There are far too many no talent mouth pieces in the industry. They and their uninformed hype have led to the over stretching and hyping of the net industry.

As for NUA I am sad to see them go. Their open resources were very useful and about the best I have found on the web. sniff.

Bard

Eircom owned 20% of Nua, not the whole thing, so I'd hardly call it "another Eircom subsidiary".

It's never a good thing to see a technology firm such as Nua close down. It's certainly sad to see - there were some very good people working there. It's true to say that Eircom's failings in the market which are now becoming more and more apparent are causing major hassles for those companies in which the former state-owned telecommunications "giant" holds a stake. If Nua's closure was because of poor business decisions by the CEO, that also makes sense... I can't speculate there though.

Ebeon (Eircom owned 51% of them) are another example of a technology firm in Ireland that collapsed recently, in their case with the instant loss of 170 jobs. Eircom also held a 'strategic interest' in the Donegal firm "Viasec", where 50 people lost their jobs recently.

All this is bound to make you slightly worried about the future, and what's going to happen in the IT sector in this country. I think we have yet to see a number of high-profile dot.com collapses in Ireland, but at the same time there are a number of very strong companies who will see through the whole downturn and emerge just as strong at the other side.

As I believe that the company I'm working for is one of those who will comfortably get through this lull in the IT sector, I'm not too worried about the future at the moment.

Ref: http://www.ireland.com/newspaper/finance/2001/0327/fin14.htm

[This message has been edited by Bard (edited 28-03-2001).]

ObeyGiant

I bet jmcc isn't too sad about all this. Although I can bet, he'll still find some way to badmouth them.

Evil Phil

It's seems that Nua changed the business strategy from Internet consultancy to developing software applications. A bad move apparently. Thinning of the herd? yeah, that's a good thing. Seems to me there's a lot of people in IT who just followed there career guidance teachers advice, and had no real interest to begin with other than the money. Good riddance to them

There is a downturn in the IT sector, but it's was hugely inflated so it's probably just adjusting to a "normal" level.

kayos

Yes it is about time the herd got thinned out in the IT sector. Coming up to y2K was the best time for dumba$s IT grads to get work companies needed ppl and fast but now with the down turn in the market employers have to be more careful of who they employ. People with real skills will still find it easy to get jobs but those who know how to write hello world in 10 different lang's but nothing else will be laughed at imho. The company where I am working for the past 2 years should have no problems in a big down turn of the IT sector. We're still pulling in big contracts from both Ireland and the states. Hell we even bet MSC to a huge project and they aint no small company but yet if I tell ppl where I work the responce is "Where?Who?" I dont think you have to have a big name to make it big and this is what is happing atm last year so many startup companies got so much investment but blew it all very stupidly imho just look at boo.com it is the companies that have been very foolish and not put some money aside for the bad times that are running into trouble.

just my two cents worth

kayos

WhiteWashMan

<font face="Verdana, Arial" size="2">Originally posted by Evil Phil:


There is a downturn in the IT sector, but it's was hugely inflated so it's probably just adjusting to a "normal" level.

</font>

there is a big difference between IT and e-commerce. unless people go back to snail mail and pens and paper, i think you'll find there wil be little downturn in the IT (as in system support) trend. however, i do aggree that the over hype of .com companies, and the fact that in some places, the failure to deliver the promised meccaa of a broad consummer base means that somethings got to give.
of course i could be talking a complete load of old toot

tHE vAGGABOND

nua employed that pe0n Daire Garvey - it was downhill from there

Shiminay

<font face="Verdana, Arial" size="2">Originally posted by Bard:
Ebeon (Eircom owned 51% of them) are another example of a technology firm in Ireland that collapsed recently, in their case with the instant loss of 170 jobs.</font>

Don't mentions the war!!!
And to think Niall - you nearly came working for us

It's that new CFO - he'll sell off loads of stuff and make a bid for the Core business of Eircon...

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All the best,

Dav
@B^)

<font face="Verdana, Arial" size="2">Prepare yourself - The Beefy King stirs from his slumber...</font>

[honey i] violated [the kids]

[This message has been edited by Kharn (edited 28-03-2001).]