An April 27 front-page article about Compaq Computer Corp.'s acquisition of Proxicom Inc. incorrectly identified Ted Leonsis. He is America Online Inc.'s vice chairman and chief product officer and president of AOL's Advanced Services Group. Compaq officials said they would continue to operate the business under the Proxicom name and would keep its 1,000 employees and Reston offices. It's such a bargain for them. After the sale was announced, Proxicom Chief Technology Officer Craig Miller said he walked the firm's corridors at its headquarters at 11600 Sunrise Valley Dr.
People are optimistic.
It shows a vote of confidence. They think this is the opposite of a layoff. Many of the dot-com millionaires of yesteryear have been brought back to earth, but Fernandez joins a group of local technology executives who cashed out in time. Leonsis is a member of the Proxicom board. I've made a multi-year commitment to continue to run this practice.