Intel has finally gotten rid of an eyesore that has been a major blight on its operation since 2001, and, no, it's not Itanium.Demolition crews imploded an unfinished five-story structure in downtown Austin, Texas, just after 7 a.m. on Feb. 25 between Nueces and Lavaca streets and Second and Sixth streets.

The concrete-and-rebar frame has been sitting there since 2001, when Intel scaled back its plans to build a 10-story structure on the site ... or at least until the money ran out. While the implosion was spectacular, it wasn't a total demolition. Apparently, the last walls standing were needed to prevent damage to some of the surrounding buildings.

After some legal wrangling, the U.S. General Services Administration bought the site and plans to build a new federal courthouse there.

Intel still has a presence in Austin. The chipmaker has a next-generation microprocessor design center on South MoPac Expressway (sometimes called "More Packed" by locals).

Given its competitive nature, I'm surprised that Intel's chief rival, AMD, hasn't issued a press release about the demise of Intel's eyesore in downtown Austin yet.

A couple of really great videos are circulating on YouTube, including one showing the guy who pushed the plunger.

But for a really great experience, check out this slide show with a soundtrack by Nine Inch Nails.