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Can tech show us the way out of this mess?
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DIgineer CEO Michael Lacey
Not so long ago - late 2001 to be exact - the technology industry crashed in a dramatic dive.Just like today, there were pink slip parties in Silicon Valley and people wondered how they would pay their capital gains taxes with their non-existent savings and no paycheck.
Last Friday the Nasdaq was up while the Dow fell - in face many technology businesses are holding their own in this tough market, perhaps helped by the lessons learned just a few years ago. Digineer, a consulting firm based in Minneapolis, is one of those companies. Digineer has always been atypical of other small private companies in its willingness to share numbers. Last week the company released its 2008 performance statistics.
“The current business climate is challenging to say the least, but we feel confident in our ability to surpass our clients’ expectations yet again in 2009 in terms of superior work quality and maintaining a top-notch team of consultants,” said Michael Lacey, Digineer's CEO. “We’ve had to make some hard decisions but in the long term these choices will make our company only stronger.” Lacey did admit to a strategic downsizing at the end of 2008 but said they had posted a 6% growth rate from 2007 to 2008.
Digineer has been growing for 11 straight years, through both economic boom and bust. Perhaps companies like this one can provide the roadmap for making it through this recession. They've certainly experienced head-first free fall before and come out alive.
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