I don’t know about you, but I’m just so bummed right now that Blockbuster has withdrawn its million-dollar hostile bid to take over Circuit City (here).I mean, here we have Blockbuster, a company sued by the state of New Jersey over fraudulently hiding its late fees (here), sued also by Netflix over patent infringement since BB tried to allow customers to rent videos by mail (here – Netflix is great, by the way) and sued also by a Texas woman because BB participated in the Facebook Beacon program and shared her rental information online without her permission (what geniuses – here).
And they were all set to purchase Circuit City, a company sued for age discrimination (here) as well as violations concerning the California “Do Not Call” law (here), and in addition to that, a gang that faced more legal action in NJ on charges of false advertising and consumer fraud (here). What a match it would have been!
Sharing each others’ litigation costs alone would have driven both of them out of business eventually (and I toiled for far too long at Unisys, so I know all about companies resulting from crappy mergers).
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