This week Akimbo, Bear Stearns, and Silverjet wound up in the graveyard of big-ideas-gone-bad and burned investment dollars.
-The biggest story on Wall Street this week was the sale of 85-year-old brokerage firm Bear Stearns to JPMorgan. Bear's sale came after its monumental collapse, one of the biggest in Wall Street history. For those of you who enjoy reveling in this sort of thing, you can actually purchase Bear Sterns knick-knacks here on eBay. The bidding appears specially hot for baseball hats and the, um, stress balls.
-First the airline industry stripped us of space, and now they're taking our peanuts and luxury airlines! Silverjet, the business-class only airline that launched 16 months ago, crashed and burned this week after failing to secure $5 million in emergency funding. For those of us who fly coach anyway, US Airways announced that they're no longer serving snacks.
-Video set-top box company Akimbo bit it this week only months after securing $4 million in new funding.
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It just goes to show that even the biggest companies can go bad if poorly managed.
—Netrentatoy
17:33, June 3rd, 2008
Yeah, and don't forget that one of the major airlines is now charging $15 per checked in bag. That means that passengers will do anything in their willpower to bring carry-ons. Boo!! Makes me mmad...
just when there was little to no room for our bags on the plane, there will no be even less room
—earndt
17:06, May 30th, 2008
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