Skating over the ruins of failed companies

Finally, some good news to come out of the great tech crash. In 1999, Candescent Technologies raised more than $600 million and built a huge quarter-million square foot plant in San Jose, expecting to build flat-panel displays. They went out of business before even finishing the building. Now the city plans to convert the building into the largest sports complex in nation. It’s a sort of “beating swords into hockey sticks” kind of story.

But not to worry – city councillors say that if some startup comes along that wants to hire 10,000 new workers, they can always convert the plant back to commercial use. (Unlike the 332 acre Hitachi campus, which might now hold up to 3,000 housing units). Right. Keep dreaming big, guys.

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