• 25 Jun 2008 at 3:46 PM

ShortCircuited City

By Dealbreaker

With a share price that has reached as low as $3.35 recently, it is probably too late to short severely troubled electronics chain Circuit City.
However, those who are stuck with shares of this rapidly declining company are surely looking to the heavens above and davening for a sale.
Investor Mark Wattles, founder of Hollywood Video and owner of a 6.5% stake in Circuit City, is one of those praying. He has taken recent steps that have allowed him to successfully install three of his five nominees to the board of directors. Wattles has claimed that there is one interested party in buying the chain and that an announcement will be made “within four weeks.”
The God-I-Daven-ToTM, aka Carl Icahn, backed Blockbuster when it offered $6 a share to buy the company in April. However, at first, Circuit City rebuffed attempts. Under intense criticism and pressure from shareholders in recent weeks, management has finally allowed Blockbuster to examine its finances and has also hired Goldman Sachs to help it explore a sale.
Carl, blog update please?
–Senior electronics correspondent Travis

Comments (13)

  1. 1
    Posted by jerrydill | June 25, 2008 at 4:23 PM

    Having Blockbuster purchase Circuit city would be great for him. Clever title.

  2. 2
    Posted by jerrydill | June 25, 2008 at 4:26 PM

    Having Blockbuster purchase Circuit city would be great for him. Clever title.

  3. 3
    Posted by guest | June 25, 2008 at 4:26 PM

    davening… must be a BL post

  4. 4
    Posted by guest | June 25, 2008 at 4:37 PM

    Senior retail correspondent Travis
    Where is DB finding these idiots?

  5. 5
    Posted by guest | June 25, 2008 at 4:41 PM

    4:26PM–Senior electronics correspondent Travis

  6. 6
    Posted by guest | June 25, 2008 at 4:44 PM

    4:37PM- they’re interns, you asshole

  7. 7
    Posted by guest | June 25, 2008 at 4:46 PM

    davening? I understand…but how many people do?

  8. 8
    Posted by Anal_yst | June 25, 2008 at 5:05 PM

    True, maybe what, 25% heeb on here, tops, maybe higher in NYC than elsewhere though obviously

  9. 9
    Posted by american bandersnatch | June 25, 2008 at 5:23 PM

    Is Travis a hebrew name? I’m thinking gay cowboys or the program director on WKRP.

  10. 10
    Posted by guest | June 25, 2008 at 5:37 PM

    Hey Mark,
    For a little help with my mortgage and my campaign, I can hook you up!!!
    Grey-Hair from Conn……

  11. 11
    Posted by Cincinnatus C | June 26, 2008 at 12:42 AM

    i’ve never met a jew named travis before. maybe he’s from the south.

  12. 12
    Posted by guest | June 26, 2008 at 10:52 AM

    so this is a loser company buying another loser company? two wrongs do not make a right!
    The only good thing about circuit city is there distribution network. Store locations suck every where.

  13. 13
    Posted by guest | June 26, 2008 at 11:49 AM

    No way anyone named Travis is davening. I bet it’s Bess making it appear as if Carney has a larger staff. Only in her dreams.

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