John Paczkowski

Recent Posts by John Paczkowski

Circuit City Takes a Dirt Nap

The lights are going out in Circuit City.

Facing a bankruptcy court deadline to ink a deal with a buyer and no willing buyer in sight, the electronics retailer is closing up shop and sacking its entire workforce. “The company had been in continuous negotiations regarding a going concern transaction,” acting CEO James Marcum said in a disheartening statement. “Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction in the limited timeframe available, and so this is the only possible path for our company.”

A sad turn of events, but not an unexpected one. Circuit City (CC) filed for bankruptcy in November, and by the end of the year it had already shuttered 155 stores and sacked 17 percent of its workforce.

BlockBuster (BBI) must be thanking its lucky stars it chose to abandon its $1.3 billion gambit for the foundering electronics chain….


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December 30, 2013 at 6:49 am PT

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December 29, 2013 at 2:12 pm PT

BlackBerry Pulls Latest Twitter for BB10 Update

December 29, 2013 at 5:58 am PT

Apple CEO Tim Cook Made $4.25 Million This Year

December 28, 2013 at 12:05 pm PT

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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald