Results tagged “electronics”

Last Thursday night, a fake UPS deliveryman bound a nanny and robbed a West Village brownstone. The Post reports that a 50-something white male, pretending to be a UPS worker, first asked the nanny to sign for a fake package and then placed a sharp object against the back of her head, forcing her into the apartment. He tied her up (but not the 3-year-old charge) and took a MacBook, Apple TV, cable modem, camera and $40. When leaving, he told the nanny she could untie herself in 10 minutes. Police are investigating whether this home invasion is connected to an earlier break-in at an apartment on 9th near 5th Avenue.

Since Best Buy is constantly looking to build on its existing culture of innovation and tailor its stores to the needs of local customers, the electronic retail powerhouse figures, "Heck, why not open a 24-hour spot down there in New York City's Union Square?" That's right, Best Buy's CEO Brian Dunn announced today that a 24-hour, 48,000 square-foot location (the old Circuit City) will open its doors at the corner of 14th Street and 4th Avenue, the heart of historic "please don't run into me with your skateboard" Union Square, on Nov. 13.

A new city ordinance is set to take effect on July 31st requiring electronics companies to go door-to-door to pick up e-waste for recycling. Naturally, the industry is fighting it and plans to file a lawsuit against the city to stop the requirement; the Consumer Electronics Association says it will cost the industry $200 million annually. Companies would also have to pay fines starting at $50,000 if they don't recycle enough of their goods. ToteVision's president Bill Taraday tells Daily Finance he's "extremely alarmed" by the nationwide rise in electronic recycling laws, because if this kind of legislation is passed in all 50 states, "we wouldn't be in business." Some had expected a New York state bill to supersede the local mandate, but that died on the vine in Albany. City Councilman Bill DeBlasio, who sponsored the NYC bill, calls it a "national model," but the Wall Street Journal deems it "particularly controversial" because it requires companies to provide free, door-to-door pickup of e-waste, in addition to recycling costs. Here's more on electronics recycling, which will be mandatory for all city residents starting July 2010.

A Brooklyn entrepreneur has purchased the trademark for Crazy Eddie, a Northeast electronics retail chain famous in the '80s for its irritating, low-budget ads, which featured DJ Jerry Carroll hyperventilating about the store's "insane" sales. (Watch below.) The company went bankrupt in 1989 after the U.S. Attorney in New Jersey busted brothers Eddie Antar and his nephew Sam for fraudulent business practices.

Electronics retailer Circuit City received approval to auction or break its leases on Friday. A bankruptcy judge gave the failing chain of 567 U.S. stores "permission to begin the auction process," the AP reports.

Guess that new location in the old Tower Records by Lincoln Center didn't work out. After closing 20% of its stores (including 3 in NYC) filing for Chapter 11 last fall, Circuit City has now hired four liquidators to help sell the inventory of its remaining 567 stores nationwide. Acting CEO James A. Marcum said, "We are extremely disappointed by this outcome. The company had been in continuous negotiations regarding a going-concern transaction. Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders.” Bloomberg News reports that CC lost market share to Best Buy and Wal-Mart, plus Amazon.com and other online retailers undercut its prices.

Not too long ago there was a behind the scenes glimpse of the Times Square billboards that light up the "Crossroads of the World" day in and day out. Now it looks like the old fashioned painted ads are more reliable, as AndIAmNotLying points out a glitch from last night in one electronic billboard on 8th and 42nd. Oopsy! It's a snafu that could be costing someone as much as $300K a month, and this isn't the first time it's happened.