A good starting sign

Put together on April 18, 2007 11:57 am by Dimitris
What do you think?

Now is probably a good time to start a blog on technology and innovation. When probably the oldest company in the world – a 1,400-year-old temple-building Japanese brand – goes out of business, people are ready to move on.

Two factors were primarily responsible. First, during the 1980s bubble economy in Japan, the company borrowed heavily to invest in real estate. After the bubble burst in the 1992-93 recession, the assets secured by Kongo Gumi’s debt shrank in value. Second, social changes in Japan brought about declining contributions to temples. As a result, demand for Kongo Gumi’s temple-building services dropped sharply beginning in 1998.

And we’re here to talk about where and how these people end up.

Welcome aboard all.

PS Also note that land ownership is no safeguard either.

(via bb)

tags: news

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