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Article: Circuit's Demise Changes The Rules.
- Article from:
- TWICE
- Article date:
- January 26, 2009
CopyrightCOPYRIGHT 2009 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Steve Smith
The news about the closing of Circuit City was not a surprise to anyone who has been in the CE industry or who watched the chain's downward spiral over the past decade.
Of course, our thoughts go out to the 30,000 employees who will lose their jobs amidst the worst economic downturn since the Great Depression, but Circuit's fall is not just another story of a company victimized by the economy. Bad decisions and faulty leadership over the past decade made this day inevitable. The economy just made it happen a little faster.
Still, if you have been around this business for a while, you kind of hoped - even during International CES ...