When did I become a Circuit City blog? After Circuit City filed for Chapter 11 bankruptcy, Bank of America swooped in to give them a loan that will likely keep CC going through the holiday season. The loan, worth $1.1 billion, will bring the debt total to over $2.3 billion. CC owes HP $119 million and Samsung $116 million.
It is amazing how well Circuit City ran themselves into the ground. I have no education or experience in business or begin to understand the inner workings of a multi-million dollar retail chain, but I’m pretty confident that I could have kept their stock value to plunge further than $2 a share.