VIDEO ON MSN MONEY
Correct me if I am wrong, but google, ceo ruins circuit city, appears the execs are just one of many reasons the company went under.
Profits from sales were down a bit, because some retail sales changed to the Internets.
An old guy walks into the store and asks "Do you have any typewriter ribbon?"
The clerk says "Have you tried the internet?"
Oh yes, Blockbuster and its late fees. As I recall, it offered five day rentals. One day late, and the fee was for another 5 days. It pissed me off so bad that I never went there again.
Oh, after they went bankrupt they sold any unpaid late fees to a debt collector. I have a collection mark on my credit for a five dollar late fee, and three dollars of handling fees. May its CEO die a painful death. What an SOB.
In my husband's hometown of Chicora, PA , an hour north of Pittsburgh, they love to tell the story of the Chicora Buggy Whip Factory. Back at the dawn of the 20th century, they were the largest manufacturer of buggy whips in the country (or in the world, depending upon who is telling the story). The town was bustling and the population was growing by leaps and bounds. Things were going great for the Chicora Buggy Whip Factor--right up until the introduction of the horseless carriage. Business slowed and the workers urged the owner of the factory to branch out and begin to produce other goods, but he refused, declaring the automobile to be a passing fad. Well, I'm sure you see where this story is going. And that is why to this day, few people have ever heard of Chicora, PA. But Google it--it really exists.
In my working career I've worked for four companies that went out of business.
Maybe it's me.
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[BRIEFING.COM] Equity indices remain near their lows with the S&P 500 trading down 0.8%. The consumer discretionary sector (-1.5%) slumped to the bottom of the leaderboard at the start and the growth-sensitive sector remains behind the other nine groups at this juncture.
High-beta names like Amazon.com (AMZN 321.92, -9.40), Netflix (NFLX 439.80, -17.72), and Priceline.com (PCLN 1157.78, -28.34) have contributed to the underperformance with losses ranging from ... More
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