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58-567: The arena opened in 1994 as the Kiel Center . It was known as the Savvis Center from 2000 to 2006, and Scottrade Center from 2006 to 2018. On May 21, 2018, the St. Louis Blues and representatives of Enterprise Holdings , based in St. Louis, announced that the naming rights had been acquired by Enterprise and that the facility's name, since July 1, 2018, adopted its current name. The site

116-805: A five-star rating from the Wrestling Observer Newsletter . The Rock won his first WWE Championship in the building at the Survivor Series event in 1998. Chris Jericho won his first World Championship in this arena at the No Mercy event in 2001, and won his latest World Championship in the arena at the Elimination Chamber event in 2010. In 2005 John Cena was revealed here as the first draft pick for Monday Night Raw , where he would remain for most of his career. Dave Batista won his second WWE Championship at

174-436: A general glut in the job market. University enrollment for computer-related degrees dropped noticeably. Aeron chairs , which retailed for $ 1,100 each, were liquidated en masse. As growth in the technology sector stabilized, companies consolidated; some, such as Amazon.com , eBay , Nvidia and Google gained market share and came to dominate their respective fields. The most valuable public companies are now generally in

232-697: A great deal of overcapacity as many Internet business clients went bust. That, plus ongoing investment in local cell infrastructure kept connectivity charges low, and helped to make high-speed Internet connectivity more affordable. During this time, a handful of companies found success developing business models that helped make the World Wide Web a more compelling experience. These include airline booking sites, Google 's search engine and its profitable approach to keyword-based advertising, as well as eBay 's auction site and Amazon.com 's online department store. The low price of reaching millions worldwide, and

290-421: A much-hyped company that had backing from Amazon.com, went out of business only nine months after completing its IPO. By that time, most Internet stocks had declined in value by 75% from their highs, wiping out $ 1.755 trillion in value. In January 2001, just three dot-com companies bought advertising spots during Super Bowl XXXV . The September 11 attacks accelerated the stock-market drop. Investor confidence

348-910: A price–earnings ratio of 200, dwarfing the peak price–earnings ratio of 80 for the Japanese Nikkei 225 during the Japanese asset price bubble of 1991. In 1999, shares of Qualcomm rose in value by 2,619%, 12 other large-cap stocks each rose over 1,000% in value, and seven additional large-cap stocks each rose over 900% in value. Even though the Nasdaq Composite rose 85.6% and the S&;P 500 rose 19.5% in 1999, more stocks fell in value than rose in value as investors sold stocks in slower growing companies to invest in Internet stocks. An unprecedented amount of personal investing occurred during

406-478: A profit. But despite this, the Internet continued to grow, driven by commerce, ever greater amounts of online information, knowledge, social networking and access by mobile devices. The 1993 release of Mosaic and subsequent web browsers during the following years gave computer users access to the World Wide Web , popularizing use of the Internet. Internet use increased as a result of the reduction of

464-493: A revenue restatement due to aggressive accounting practices. Its stock price, which had risen from $ 7 per share to as high as $ 333 per share in a year, fell $ 140 per share, or 62%, in a day. The next day, the Federal Reserve raised interest rates, leading to an inverted yield curve , although stocks rallied temporarily. Tangentially to all of speculation, Judge Thomas Penfield Jackson issued his conclusions of law in

522-448: A widely read article that stated: "It's time, at last, to pay attention to the numbers". On Friday, April 14, 2000, the Nasdaq Composite index fell 9%, ending a week in which it fell 25%. Investors were forced to sell stocks ahead of Tax Day , the due date to pay taxes on gains realized in the previous year. By June 2000, dot-com companies were forced to reevaluate their spending on advertising campaigns. On November 9, 2000, Pets.com ,

580-569: Is frequently chosen by the NCAA to host championship events, including its men's hockey " Frozen Four " in 2007 , the women's basketball Final Four in 2001 and 2009 , wrestling championships in 2000, 2004, 2005, 2008, 2009, 2012, 2015, and 2017 , and several men's and women's basketball Midwest Regional tournament games. After the Missouri Tigers joined the SEC in 2012 , St. Louis was added to

638-466: Is the arena organist. National anthems are performed by a rotating group of local singers and musicians. Previous anthem singer Charles Glenn retired in 2018 due to health concerns and a relocation to San Diego, but he has returned to St. Louis to sing on multiple occasions including the 2019 Stanley Cup run. Two Building Operations/Ice Technicians, Jim Schmuke and Dave Grimes have been employed there since August 1994. The largest crowd to attend an event at

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696-782: The Dulles Technology Corridor in Virginia, governments funded technology infrastructure and created favorable business and tax law to encourage companies to expand. The growth in capacity vastly outstripped the growth in demand. Spectrum auctions for 3G in the United Kingdom in April 2000, led by Chancellor of the Exchequer Gordon Brown , raised £22.5 billion. In Germany, in August 2000,

754-621: The NCAA tournament . The University of Illinois and University of Missouri play their annual men's basketball rivalry game at Enterprise Center each season, typically on the Saturday before Christmas. Enterprise Center also hosts a variety of non-sporting events each year, including concerts, ice shows, family events, professional wrestling, and other events. On average, the facility sees about 175 total events per year, drawing nearly two million guests annually to downtown St. Louis. The facility

812-678: The St. Louis Stampede arena football team, and the River City Rage indoor football team. The facility's seating capacity for hockey has varied since opening. Many historic WWE moments have taken place at the Enterprise Center. Former WWE and World Heavyweight Champion Kane made his WWE debut at this arena in 1997 at the event Badd Blood: In Your House . At that same event, the first Hell In A Cell match took place between Shawn Michaels and The Undertaker , which received

870-400: The quaternary sector of the economy and confidence that the companies would turn future profits created an environment in which many investors were willing to overlook traditional metrics, such as the price–earnings ratio , and base confidence on technological advancements, leading to a stock market bubble . Between 1995 and 2000, the Nasdaq Composite stock market index rose 400%. It reached

928-450: The tech bubble burst, the team was left with nearly worthless shares. In September 2006, Scottrade founder Rodger O. Riney and chief marketing officer Chris Moloney announced a partnership with the St. Louis Blues hockey club and arena. The new name of the arena, Scottrade Center, was revealed in a joint press conference. Terms of the deal were not disclosed, but were described as "long-term and significant", by Moloney. Both Scottrade and

986-541: The " digital divide " and advances in connectivity, uses of the Internet, and computer education. Between 1990 and 1997, the percentage of households in the United States owning computers increased from 15% to 35% as computer ownership progressed from a luxury to a necessity. This marked the shift to the Information Age , an economy based on information technology , and many new companies were founded. At

1044-515: The Blues said the agreement was "equitable" to both parties. Most of the signage and other promotions were changed to Scottrade Center prior to the first home game of the Blues on October 12, 2006. The Sports Business Journal in March 2007 described it as "one of the fastest naming rights deals in history." Scottrade announced on October 24, 2016, that it was being sold to TD Ameritrade for $ 4 billion. It

1102-1007: The Edge across the state in Kansas City . That night, ten matches were held with all booking put aside, and many wrestlers and fans paid tribute to the popular Hart. Rick Ross Porcelain Black Travis Barker Mix Master Mike Lady Starlight Enterprise Holdings Too Many Requests If you report this error to the Wikimedia System Administrators, please include the details below. Request from 172.68.168.150 via cp1114 cp1114, Varnish XID 915690031 Upstream caches: cp1114 int Error: 429, Too Many Requests at Thu, 28 Nov 2024 08:00:31 GMT Tech bubble The dot-com bubble (or dot-com boom )

1160-463: The Elimination Chamber event in 2010. The 1000th episode of Monday Night Raw was also held there. At the 2014 Survivor Series Sting made his official debut in WWE. In November 2018 on SmackDown , Daniel Bryan won his fourth WWE Championship. Arguably the most emotional wrestling card held at the Enterprise Center was "Raw is Owen", held in the aftermath of Owen Hart 's death the previous night at Over

1218-427: The Federal Reserve , raised interest rates several times; these actions were believed by many to have caused the bursting of the dot-com bubble. According to Paul Krugman , however, "he didn't raise interest rates to curb the market's enthusiasm; he didn't even seek to impose margin requirements on stock market investors. Instead, [it is alleged] he waited until the bubble burst, as it did in 2000, then tried to clean up

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1276-507: The Nasdaq fell 2.6%, but the S&P 500 rose 2.4% as investors shifted from strong performing technology stocks to poor performing established stocks. On March 20, 2000, Barron's featured a cover article titled "Burning Up; Warning: Internet companies are running out of cash—fast", which predicted the imminent bankruptcy of many Internet companies. This led many people to rethink their investments. That same day, MicroStrategy announced

1334-586: The St. Louis Board of Aldermen voted 25–1 to subsidize the renovation and reopening of the Opera House under the direction of its new owners, Sports Capital Partners (who also own the Blues). The subsidies were funded by municipal bonds and state/federal historic tax credits. On July 12, 2010, it was announced that the name of the opera house would be changed to the Peabody Opera House , named after

1392-484: The Web to be a useful and profitable additional channel for content distribution, and an additional means to generate advertising revenue. The sites that survived and eventually prospered after the bubble burst had two things in common: a sound business plan, and a niche in the marketplace that was, if not unique, particularly well-defined and well-served. In the aftermath of the dot-com bubble, telecommunications companies had

1450-465: The arena until January 1995 due to the lockout that delayed the start of the 1994–95 season . The first professional sports match was played by the St. Louis Ambush , an indoor soccer team. The building is currently known as Enterprise Center, after naming rights were sold in May 2018 to Enterprise Holdings. The Kiel name still exists on the adjoining parking structure and the building cornerstone. Signs for

1508-515: The arena was 22,612, which happened twice during the 2007 Missouri Valley Conference men's basketball tournament . The largest non-sporting event crowd was for a Bon Jovi concert in May 2011 as part of the Bon Jovi Live Tour , with 20,648 in attendance. A three-phase renovation of the arena began in 2017 and was completed in 2019, with all building works being done in the hockey offseason to minimize schedule disruption. The first phase

1566-454: The auctions raised £30 billion. A 3G spectrum auction in the United States in 1999 had to be re-run when the winners defaulted on their bids of $ 4 billion. The re-auction netted 10% of the original sales prices. When financing became hard to find as the bubble burst, the high debt ratios of these companies led to bankruptcy . Bond investors recovered just over 20% of their investments. However, several telecom executives sold stock before

1624-511: The boom and stories of people quitting their jobs to trade on the financial market were common. The news media took advantage of the public's desire to invest in the stock market; an article in The Wall Street Journal suggested that investors "re-think" the "quaint idea" of profits, and CNBC reported on the stock market with the same level of suspense as many networks provided to the broadcasting of sports events . At

1682-532: The bubble. During the dot-com crash , many online shopping companies, notably Pets.com , Webvan , and Boo.com , as well as several communication companies, such as Worldcom , NorthPoint Communications , and Global Crossing , failed and shut down. Others, like Lastminute.com , MP3.com and PeopleSound remained through its sale and buyers acquisition. Larger companies like Amazon and Cisco Systems lost large portions of their market capitalization, with Cisco losing 80% of its stock value. Historically,

1740-535: The case of United States v. Microsoft Corp. (2001) and ruled that Microsoft was guilty of monopolization and tying in violation of the Sherman Antitrust Act . This led to a one-day 15% decline in the value of shares in Microsoft and a 350-point, or 8%, drop in the value of the Nasdaq. Many people saw the legal actions as bad for technology in general. That same day, Bloomberg News published

1798-643: The company Peabody Energy. On October 1, 2011, the Peabody Opera House opened for the first time since the $ 79 million renovation. It is now known as the Stifel Theatre after naming rights were purchased by the locally based investment bank. Through its history, the arena has been known as Kiel Center until 2000, Savvis Center from 2000 to 2006, Scottrade Center from 2006 to 2018, and Enterprise Center since July 2018. For Blues games, Tom Calhoun serves as public address announcer and Jeremy Boyer

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1856-523: The crash including Philip Anschutz , who reaped $ 1.9 billion, Joseph Nacchio , who reaped $ 248 million, and Gary Winnick , who sold $ 748 million worth of shares. Nearing the turn of the 2000s, spending on technology was volatile as companies prepared for the Year 2000 problem . There were concerns that computer systems would have trouble changing their clock and calendar systems from 1999 to 2000 which might trigger wider social or economic problems, but there

1914-744: The crash; 48% of dot-com companies survived through 2004, albeit at lower valuations. Several companies and their executives, including Bernard Ebbers , Jeffrey Skilling , and Kenneth Lay , were accused or convicted of fraud for misusing shareholders' money, and the U.S. Securities and Exchange Commission levied large fines against investment firms including Citigroup and Merrill Lynch for misleading investors. After suffering losses, retail investors transitioned their investment portfolios to more cautious positions. Popular Internet forums that focused on high tech stocks, such as Silicon Investor , Yahoo! Finance , and The Motley Fool declined in use significantly. Layoffs of programmers resulted in

1972-444: The dot-com boom can be seen as similar to a number of other technology-inspired booms of the past, including railroads in the 1840s, automobiles in the early 20th century, radio in the 1920s, television in the 1940s, transistor electronics in the 1950s, computer time-sharing in the 1960s, and home computers and biotechnology in the 1980s. Low interest rates in 1998–99 facilitated an increase in start-up companies. In 2000,

2030-642: The dot-com bubble burst, and many dot-com startups went out of business after burning through their venture capital and failing to become profitable . However, many others, particularly online retailers like eBay and Amazon , blossomed and became highly profitable. More conventional retailers found online merchandising to be a profitable additional source of revenue. While some online entertainment and news outlets failed when their seed capital ran out, others persisted and eventually became economically self-sufficient. Traditional media outlets (newspaper publishers, broadcasters and cablecasters in particular) also found

2088-470: The east end, and a rebuilt lower-tier concourse with new club areas for premium ticketholders as well as a beer garden opening onto 14th Street. The third and final phase included the replacement of lower-tier seats and renovations to private boxes. Blues management decried its former naming-rights deal with tech company SAVVIS , as much of the compensation was in Savvis shares, then riding high. However, when

2146-624: The facility would be known as Enterprise Center. The 15-year agreement calls for interior and exterior signage featuring the Enterprise logo. It is the home of the St. Louis Blues of the National Hockey League. In addition to the NHL franchise, the facility has hosted the annual Missouri Valley Conference men's basketball tournament since 1995, commonly referred to as "Arch Madness," with the winner receiving an automatic berth to

2204-670: The height of the boom, it was possible for a promising dot-com company to become a public company via an IPO and raise a substantial amount of money even if it had never made a profit—or, in some cases, realized any material revenue or even have a finished product. People who received employee stock options became instant paper millionaires when their companies executed IPOs; however, most employees were barred from selling shares immediately due to lock-up periods . The most successful entrepreneurs, such as Mark Cuban , sold their shares or entered into hedges to protect their gains. Sir John Templeton successfully shorted many dot-com stocks at

2262-497: The launch of a new product or website, a company would organize an expensive event called a dot-com party . In the five years after the American Telecommunications Act of 1996 went into effect, telecommunications equipment companies invested more than $ 500 billion, mostly financed with debt, into laying fiber optic cable, adding new switches, and building wireless networks. In many areas, such as

2320-669: The list of cities that could serve as hosts for the men's SEC men's basketball tournament , doing so for the first time in March 2018 , at the completion of the 2017–2018 regular season. The building is operated by SLB Acquisition Holdings LLC , owner of the St. Louis Blues, under its chairman, Tom Stillman. Former tenants of Enterprise Center include the Saint Louis Billikens men's basketball team from Saint Louis University , St. Louis Vipers roller hockey team, St. Louis Ambush and St. Louis Steamers indoor soccer teams,

2378-481: The mess afterward". Finance author and commentator E. Ray Canterbery agreed with Krugman's criticism. On Friday March 10, 2000, the NASDAQ Composite stock market index peaked at 5,048.62. However, on March 13, 2000, news that Japan had once again entered a recession triggered a global sell off that disproportionately affected technology stocks. Soon after, Yahoo! and eBay ended merger talks and

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2436-468: The mottos "get big fast" and "get large or get lost". These companies offered their services or products for free or at a discount with the expectation that they could build enough brand awareness to charge profitable rates for their services in the future. The "growth over profits" mentality and the aura of " new economy " invincibility led some companies to engage in lavish spending on elaborate business facilities and luxury vacations for employees. Upon

2494-450: The nearby MetroLink stop have been changed to read " Civic Center ", since the building has been renamed four times in its history. The Opera House portion of the building was not razed when the original Auditorium was but remained closed since 1992, as members of Civic Progress, Inc., who promised to pay for the renovation of the Opera House, reneged on that promise, while opposing all outside efforts to achieve that renovation. In June 2009,

2552-503: The new entrepreneurs had experience in business and economics, the majority were simply people with ideas, and did not manage the capital influx prudently. Additionally, many dot-com business plans were predicated on the assumption that by using the Internet, they would bypass the distribution channels of existing businesses and therefore not have to compete with them; when the established businesses with strong existing brands developed their own Internet presence, these hopes were shattered, and

2610-496: The newcomers were left attempting to break into markets dominated by larger, more established businesses. The dot-com bubble burst in March 2000, with the technology heavy NASDAQ Composite index peaking at 5,048.62 on March 10 (5,132.52 intraday), more than double its value just a year before. By 2001, the bubble's deflation was running full speed. A majority of the dot-coms had ceased trading, after having burnt through their venture capital and IPO capital, often without ever making

2668-579: The peak of the bubble during what he called "temporary insanity" and a "once-in-a-lifetime opportunity". He shorted stocks just before the expiration of lockup periods ending six months after initial public offerings, correctly anticipating many dot-com company executives would sell shares as soon as possible, and that large-scale selling would force down share prices. Most dot-com companies incurred net operating losses as they spent heavily on advertising and promotions to harness network effects to build market share or mind share as fast as possible, using

2726-481: The possibility of selling to or hearing from those people at the same moment when they were reached, promised to overturn established business dogma in advertising, mail-order sales, customer relationship management , and many more areas. The web was a new killer app —it could bring together unrelated buyers and sellers in seamless and low-cost ways. Entrepreneurs around the world developed new business models, and ran to their nearest venture capitalist . While some of

2784-448: The same time, a decline in interest rates increased the availability of capital. The Taxpayer Relief Act of 1997 , which lowered the top marginal capital gains tax in the United States , also made people more willing to make more speculative investments. Alan Greenspan , then- Chair of the Federal Reserve , allegedly fueled investments in the stock market by putting a positive spin on stock valuations. The Telecommunications Act of 1996

2842-412: The technology sector. In a 2015 book, venture capitalist Fred Wilson , who funded many dot-com companies and lost 90% of his net worth when the bubble burst, said about the dot-com bubble: A friend of mine has a great line. He says "Nothing important has ever been built without irrational exuberance ." Meaning that you need some of this mania to cause investors to open up their pocketbooks and finance

2900-632: Was a stock market bubble that ballooned during the late-1990s and peaked on Friday, March 10, 2000. This period of market growth coincided with the widespread adoption of the World Wide Web and the Internet , resulting in a dispensation of available venture capital and the rapid growth of valuations in new dot-com startups . Between 1995 and its peak in March 2000, investments in the NASDAQ composite stock market index rose by 800%, only to fall 78% from its peak by October 2002, giving up all its gains during

2958-602: Was expected to result in many new technologies from which many people wanted to profit. As a result of these factors, many investors were eager to invest, at any valuation, in any dot-com company , especially if it had one of the Internet-related prefixes or a " .com " suffix in its name. Venture capital was easy to raise. Investment banks , which profited significantly from initial public offerings (IPO), fueled speculation and encouraged investment in technology. A combination of rapidly increasing stock prices in

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3016-896: Was further eroded by several accounting scandals and the resulting bankruptcies, including the Enron scandal in October 2001, the WorldCom scandal in June 2002, and the Adelphia Communications Corporation scandal in July 2002. By the end of the stock market downturn of 2002 , stocks had lost $ 5 trillion in market capitalization since the peak. At its trough on October 9, 2002, the NASDAQ-100 had dropped to 1,114, down 78% from its peak. After venture capital

3074-726: Was home to Charles H. Turpin 's Booker T. Washington Theater which was replaced by the Municipal Auditorium. It was renamed for mayor Kiel. Originally named the Kiel Center, the arena was opened in 1994 to replace Kiel Auditorium , where the Saint Louis University college basketball team had played, which was torn down in December 1992. The Blues had played in the St. Louis Arena prior to moving into Kiel Center in 1994; however, they would not play in

3132-413: Was largely composed of engineering upgrades (new lighting, sound, HVAC, and ice plant), improved IT infrastructure including free Wi-Fi for patrons, and rebuilt dressing rooms, as well as a new scoreboard and replacement of some lower-tier seating on the west end (where the Blues shoot twice) with "theater boxes". Phase two saw the replacement of all upper-tier seats, along with "theater boxes" being added to

3190-442: Was no longer available, the operational mentality of executives and investors completely changed. A dot-com company's lifespan was measured by its burn rate , the rate at which it spent its existing capital. Many dot-com companies ran out of capital and went through liquidation . Supporting industries, such as advertising and shipping, scaled back their operations as demand for services fell. However, many companies were able to endure

3248-546: Was originally believed that once the deal closed, Scottrade Center would become the TD Ameritrade Center in a naming rights deal set to run until 2021. However, less than a year later, TD Ameritrade announced that it would give back its naming rights upon the closure of the Scottrade acquisition. On May 21, 2018, Enterprise Holdings , based in St. Louis, and the St. Louis Blues announced that beginning July 1,

3306-400: Was the largest to date and was questioned by many analysts. Then, on January 30, 2000, 12 ads of the 61 ads for Super Bowl XXXIV were purchased by dot-coms (sources state ranges from 12 up to 19 companies depending on the definition of dot-com company ). At that time, the cost for a 30-second commercial was between $ 1.9 million and $ 2.2 million. Meanwhile, Alan Greenspan , then Chair of

3364-439: Was virtually no impact or disruption due to adequate preparation. Spending on marketing also reached new heights for the sector: Two dot-com companies purchased ad spots for Super Bowl XXXIII , and 17 dot-com companies bought ad spots the following year for Super Bowl XXXIV . On January 10, 2000, America Online , led by Steve Case and Ted Leonsis , announced a merger with Time Warner , led by Gerald M. Levin . The merger

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