But remember, the developer who looks at 20 sites before developing one probably had option money invested that won t be recovered. And so if I put money into real estate dot-coms, maybe one will make it out of the 10 I backed. If I m lucky, I ll get value out of the one that makes it. The one thing that should be on people s front burner is Web-enabling your business. The way we do business will continue to change radically by our use of the Web.
Procurement is another area where there s going to be major changes.
Every mechanical aspect of our back office and some of our front-office operations lend themselves to increases in efficiency through the use of the Web and other technology. Its property owner had written a clause in the lease that if the tenant goes bankrupt, any benefits from re-leasing the space goes to the owner. The judge chose to apply the rule of equity rather than the rule of law. He added that the benefits of re-leasing that space belong to the creditors. That s a major change.