Michaels Knows That The Rainbow Loom Gravy Train Has To Stop Eventually

Michaels, a store that sells craft supplies and random decorative crap, managed to become the only big-box craft store that sells kids’ current favorite craft/toy, the Rainbow Loom. Here’s the problem with having one hot product, though: it might boost a company’s sales and profits now, but how long will the trend last? [More]

Newegg Files For $175 Mil IPO – Going All Hollywood On Us Now?

Popular electronics retailer Newegg filed for a $175 mil initial public offering today, becoming the 3rd internet darling in recent memory, after Zappos and Mint, to seek a cashout. Let’s hope Newegg doesn’t switch their business model from being entirely beholden to customers to being entirely beholden to shareholders. Otherwise, the customers’ battle cry of “It’s Newegg or nothing!” will be getting a tryout. [Reuters] (Thanks to GitEmSteveDave!) (Photo: Matt & The Camera)