Related Research Articles
Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. It was founded by Kenneth Lay in 1985 as a merger between Lay's Houston Natural Gas and InterNorth, both relatively small regional companies. Before its bankruptcy on December 2, 2001, Enron employed approximately 20,600 staff and was a major electricity, natural gas, communications, and pulp and paper company, with claimed revenues of nearly $101 billion during 2000. Fortune named Enron "America's Most Innovative Company" for six consecutive years.
MCI, Inc. was a telecommunications company. For a time, it was the second-largest long-distance telephone company in the United States, after AT&T. WorldCom grew largely by acquiring other telecommunications companies, including MCI Communications in 1998, and filed bankruptcy in 2002 after an accounting scandal, in which several executives, including CEO Bernard Ebbers, were convicted of a scheme to inflate the company's assets. In January 2006, the company, by then renamed MCI, was acquired by Verizon Communications and was later integrated into Verizon Business.
Blockbuster Video was an American video rental store chain. It was founded by David Cook in 1985 as a stand-alone mom-and-pop home video rental shop, but later grew into a national store chain featuring video game rentals, DVD-by-mail, streaming, video on demand, and cinema theater. The company expanded internationally throughout the 1990s. At its peak in 2004, Blockbuster consisted of 9,094 stores and employed approximately 84,300 people: 58,500 in the United States and 25,800 in other countries.
In marketing, a coupon is a ticket or document that can be redeemed for a financial discount or rebate when purchasing a product.
Webvan was a dot-com company and grocery business that filed for bankruptcy in 2001 after 3 years of operation. It was headquartered in Foster City, California, United States. It delivered products to customers' homes within a 30-minute window of their choosing. At its peak, it offered service in ten US areas: the San Francisco Bay Area; Dallas; Sacramento; San Diego; Los Angeles; Orange County, California; Chicago; Seattle; Portland, Oregon; and Atlanta, Georgia. The company had hoped to expand to 26 cities by 2001.
Amazon China, formerly known as Joyo.com, is an online shopping website. Joyo.com was founded in early 2000 by the Chinese entrepreneur Lei Jun in Beijing, China. The company primarily sold books and other media goods, shipping to customers nationwide. Joyo.com was renamed to “Amazon China” when sold to Amazon Inc in 2004 for US$75 Million. Amazon China closed its domestic business in China in June 2019, offering only products from sellers located overseas.
Caldor, Inc. was a discount department store chain founded in 1951 by husband and wife Carl and Dorothy Bennett. Referred to by many as "the Bloomingdale's of discounting," Caldor grew from a second story "Walk-Up-&-Save" operation in Port Chester, New York, into a regional retailing giant. Its stores were earning over $1 billion in sales by the time Carl Bennett retired in 1985, by which time Caldor was a subsidiary of Associated Dry Goods.
Egghead Software was an American computer software retailer. Founded in 1984, it filed for bankruptcy in 2001 and its domain name was acquired by Amazon.com.
InPhonic Inc was an American company which sold wireless services and devices online, both through its own electronic commerce sites and through private labeled websites it created and managed for online retailers. The company was headquartered in Washington, DC and maintained technology and operations centers in Largo, Maryland.
In marketing, a rebate is a form of buying discount and is an amount paid by way of reduction, return, or refund that is paid retrospectively. It is a type of sales promotion that marketers use primarily as incentives or supplements to product sales. Rebates are also used as a means of enticing price-sensitive consumers into purchasing a product. The mail-in rebate (MIR) is the most common. A MIR entitles the buyer to mail in a coupon, receipt, and barcode in order to receive a check for a particular amount, depending on the particular product, time, and often place of purchase. Rebates are offered by either the retailer or the product manufacturer. Large stores often work in conjunction with manufacturers, usually requiring two or sometimes three separate rebates for each item, and sometimes are valid only at a single store. Rebate forms and special receipts are sometimes printed by the cash register at time of purchase on a separate receipt or available online for download. In some cases, the rebate may be available immediately, in which case it is referred to as an instant rebate. Some rebate programs offer several payout options to consumers, including a paper check, a prepaid card that can be spent immediately without a trip to the bank, or even as a PayPal payout.
Service Merchandise was a retail chain of catalog showrooms carrying jewelry, toys, sporting goods, and electronics. The company, which first began in 1934 as a five-and-dime store, was in existence for 68 years before ceasing operations in 2002.
SoftRAM and SoftRAM95 were fraudulent system software products which claimed to double the available random-access memory in Microsoft Windows without the need for a hardware upgrade. However, it later emerged that the program did not even attempt to increase available memory. In July 1996, the developer of SoftRAM, Syncronys settled charges brought by the Federal Trade Commission of "false and misleading" claims in relation to the capability of the software. The product was rated the third "Worst Tech Product of All Time" by PC World in 2006. Around 100,000 to 600,000 copies of the software were sold overall.
K·B Toys was an American chain of mall-based retail toy stores. The company was founded in 1922 as Kaufman Brothers, a wholesale candy store. The company opened a wholesale toy store in 1946, and ended its candy wholesales two years later to emphasize its toy products. Retail sales began during the 1970s, using the name Kay-Bee Toy & Hobby.
Loehmann's was an American retail company which started as a single store in Brooklyn, New York and grew to a chain of off-price department stores in the United States. The chain was best known for its "Back Room", where women interested in fashion could find designer clothes at prices lower than in department stores. While the largest portion of its client base was historically women, the chain also offered shoes, accessories, and men's clothing.
A debt buyer is a company, sometimes a collection agency, a private debt collection law firm, or a private investor, that purchases delinquent or charged-off debts from a creditor or lender for a percentage of the face value of the debt based on the potential collectibility of the accounts. The debt buyer can then collect on its own, utilize the services of a third-party collection agency, repackage and resell portions of the purchased portfolio, or use any combination of these options.
Mt. Gox was a bitcoin exchange based in Shibuya, Tokyo, Japan. Launched in 2010, it was handling over 70% of all bitcoin (BTC) transactions worldwide by early 2014, when it abruptly ceased operations amid revelations of its involvement in the loss/theft of hundreds of thousands of bitcoins, then worth hundreds of millions in US dollars.
Mark Marie Robert Karpelès, also sometimes known by his online alias MagicalTux, is the former CEO of bitcoin exchange Mt. Gox. Born in France, he moved to Japan in 2009.
Retail apocalypse refers to the closing of numerous brick-and-mortar retail stores, especially those of large chains, beginning around 2010 and accelerating due to the mandatory closures during the COVID-19 pandemic.
Celsius Network LLC is a bankrupt cryptocurrency lending company. Headquartered in Hoboken, New Jersey, Celsius maintained offices in four countries and operated globally. Users could deposit a range of cryptocurrency digital assets, including Bitcoin and Ethereum, into a Celsius wallet to earn a percentage yield, and could take out loans by pledging their cryptocurrencies as security. As of May 2022, the company had lent out $8 billion to clients and had almost $12 billion in assets under management.
References
- ↑ Dineen, J.K. (May 18, 2001). "CHARGE CYBER SCAM HIT BUYERS FOR $80M". New York Daily News .
- ↑ GLASNER, JOANNA (May 19, 2001). "THE DAY THE REBATES DIED". Wired .
- ↑ "Cyber Rebate". NPR . May 17, 2001.
- 1 2 3 Edmonston, Peter (May 18, 2001). "CyberRebate's Plan Costs Web Buyers Some Big Bucks" . The Wall Street Journal .
- ↑ Blank, Christine (May 29, 2001). "No More Checks From CyberRebate". DM Digital .
- ↑ "Free gifts at CyberRebate". CNN . November 20, 2000.
- 1 2 Livingston, Brian (May 18, 2001). "Millions vaporized in CyberRebate collapse". CNET .
- ↑ Tan, Shannon (July 23, 2001). "Failed company provides expensive lesson in online-rebate risks" . The Baltimore Sun .
