400-700 Radio Shack stores will close this year, announced Radio Shack
s besieged CEO Dave Edmonson on Friday. The company operates 7,000 stores, all of which need your zip code to sell you batteries.
2005 earnings were substantially below Wall Street expectations.
It came to light last week that the CEO may have lied on his resume about having a degree. He claimed two, one in psychology and one in theology, from an unaccredited Bible school. The school has never offered a degree in psychology. He said the other degree burned in a garage fire, perhaps while attempting unaccredited rituals.
The Radio Shack board initially said it would stand by Edmonson. Wednesday the board announced plans to hire a law firm to investigate the matter.
Investigate or cover up?
We once needed to convert RCA video signal to S-Video and they tried to sell us a whole honkin’ multi-channel video switch apparatchik. Thing was, the S-Video and RCA were on the same side. After pointing out there was no way to route the signal like they described, they finally produced the necessary $25 double-mouthed video connector.
While the resume flap is disappointing, is Radio Shack and its lackadaisical customer service even frickin’ relevant anymore?
RadioShack to close 400 to 700 stores [MSNBC] (Thanks to Jeff!)