San Jose Mercury News: Staggering Tech Plunge

The San Jose Mercury News reports today on the dramatic impact the tech recession has had on Silicon Valley companies.

“The Mercury News annual survey of the 150 largest public companies — to be published Monday in full — reveals that Silicon Valley’s biggest companies reported a combined loss of $89.8 billion last year — exceeding their profits for the previous eight years combined. Sales plummeted by $55 billion, the first time revenues failed to grow since the survey began in 1985.”

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