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Home -> Community -> Mailing Lists -> Oracle-L -> An icon of the Geek world retires
Egghead.com Inc. has filed for Chapter 11 bankruptcy protection and laid off 200 employees. The online computer and electronics retailer was felled by weak consumer computer sales and wary Wall Street investors. The Menlo Park, Calif., retailer will sell its domain name and other unspecified assets to traditional retailer Fry's Electronics Inc., according to a company statement. Fry's will continue to operate the E-commerce Web site under the Egghead name.
Egghead.com CEO Jeff Sheahan, in a written statement, said he regretted the move, which he blamed on "a dramatic and unexpected decline in sales."
Jupiter Research analyst Ken Cassar says that at one time, Egghead was the leader of distressed computers and electronics, as failing companies liquidated their computer assets at its site. "But over the past year or so, Overstock.com has emerged as a real competitor," says Cassar. Egghead stock Wednesday fell from 33 cents to 3 cents a share, before trading was halted at mid-day. - Elisabeth Goodridge
For background on this story, read
Internet Death Rate Levels Off
http://update.informationweek.com/cgi-bin4/flo?y=eEEq0BdFGA0V20PeI0AK
A Supercomputing Star--And Why It Fell
http://update.informationweek.com/cgi-bin4/flo?y=eEEq0BdFGA0V20RHu0Ab
Webby Awards Celebrate Best Sites
http://update.informationweek.com/cgi-bin4/flo?y=eEEq0BdFGA0V20RHv0Ac
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Fat City Network Services -- (858) 538-5051 FAX: (858) 538-5051 San Diego, California -- Public Internet access / Mailing Lists --------------------------------------------------------------------To REMOVE yourself from this mailing list, send an E-Mail message to: ListGuru_at_fatcity.com (note EXACT spelling of 'ListGuru') and in the message BODY, include a line containing: UNSUB ORACLE-L (or the name of mailing list you want to be removed from). You may also send the HELP command for other information (like subscribing). Received on Thu Aug 16 2001 - 08:51:36 CDT
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