ShortCircuited City

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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

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