Hi everyone! Jay here. Joann is kind enough to let me use her blog as a sounding board when I need it, since I am far too lazy to set up or maintain a blog of my own.
First of all, thank you for your kind notes about my head/nose injury. I still have a nasty cut on my nose, but the swelling/goose-egg has gone down. I am just glad I didn't pass out in the street and get run over. My vision did fade to black for a second or so, and I thought I saw a long tunnel with a light at the end (with harp music), but I refused to go into the light, and instead returned to Ohio.
First of all, thank you for your kind notes about my head/nose injury. I still have a nasty cut on my nose, but the swelling/goose-egg has gone down. I am just glad I didn't pass out in the street and get run over. My vision did fade to black for a second or so, and I thought I saw a long tunnel with a light at the end (with harp music), but I refused to go into the light, and instead returned to Ohio.
And I still got groceries, so we know I'm gonna be okay. A boy's gotta eat you know.
Anyway, I wanted to share something that made me smile. It's not very Christian of me to be smiling at it though. Because it's one of those schadenfreude moments, which of course is that German word meaning pleasure taken from someone else's misfortune.
The story starts in the 80's, as most stories of mine do. Every male was being told they shouldn't feel good about themselves, since they could never acquire all the cool toys in The Sharper Image catalog:
And no one was riding higher than the company's own founder: that unholy high priest of materialism, Richard Thalheimer:
Richard opened the company with his famous statement "men are bad shoppers". Cute, but also asinine. You see, a thing called the internet came along, which was succeeded by comparison-shopping sights, online auction sites, and the like. Meanwhile, Richard was clinging to 1989, acting like his $1000 CD player was the only game in town.
In 2004, Sharper Image stock was enjoying a lofty price of $32.74 a share. Hmmmm. Wonder what would have happened if you had plunked down $1000 as an investor? Well, if you take a looksie at the stock today, you'll see it's now at a moribund 22 cents a share. Your $1000 would have turned into $6.72.
In 2004, Sharper Image stock was enjoying a lofty price of $32.74 a share. Hmmmm. Wonder what would have happened if you had plunked down $1000 as an investor? Well, if you take a looksie at the stock today, you'll see it's now at a moribund 22 cents a share. Your $1000 would have turned into $6.72.
Nice.Going.Richard. BWAHAHAHA!
But there's hope, right? After all, they have remaining mall stores (you can locate them by listening for sounds of dying breath-gasps). But they filed for bankruptcy last month. This is where it gets better: They announced that their gift certificates (of which they had sold $42.6 million worth of) are now WORTHLESS. Yes, that's right, for the first time in the history of the world, a retail store will not take its own certificates. BWAHAHAHA!
After customers formed a raging mob that would make Mutiny On The Bounty look like a walk in a sunny park, the store back-pedaled and said the certificates may be used but only on purchases for more than double the certificate's value. Cold comfort.
So is there hope? Nope. As of today, the company has $804,000 remaining in cash, and $68 million in debt. Oops.
As for Richard, his own company chased him out of there in May, 2007. So what's he doing? At the age of 60, he is trying to start over. Kind of heartwarming, as we know stories like those of Colonel Sanders or Mae West, whose careers didn't even take off until after 60. He is running a new business entirely by himself, appropriately called RichardSolo. But there's a problem: he sells ugly watches that range in price from $395 to $945. Sound familiar? It should. The Sharper Image's first product was a shock-proof jogger's watch. Has Richard heard the phrase "History repeats itself"? Doesn't seem like it. Maybe he has, but he is forgetting what happens in the second-half of the story.
Men ARE good shoppers, Richard, and your greed and selective-memory are going to take your last dime. Again.
Sorry, I can't hold it in. Just one more time.... BWAHAHAHA!
Sorry, I can't hold it in. Just one more time.... BWAHAHAHA!



