Friday, November 21, 2008

ShopNBC at the Grundy County Auction

Looks like after seven years of never turning a profit, ShopNBC is going on the auction block!

Just this week, ValueVision Media said they have received bids from several different parties who want to buy some or all of ShopNBC. They plan on making a decision within the next few months.

So just how bad is business getting for ShopNBC?

It's so bad that you can buy their stock from the Dollar Menu at McDonald's now.

"Revenue plunged 32% in the third quarter to $124.8 million and net losses more than tripled to $20.8 million on a 27% decline in volume and a 12% dip in the average price of items sold. This is after a 26% decline in revenue in the second quarter."

“As you can see from the results, ShopNBC experienced a very difficult third quarter,” CEO John Buck said on the conference call. “With our third quarter results and our stock price below $1, I can only imagine how frustrated and concerned you are, as we are. This is unacceptable.”

We can only hope that some monied investor (just ask Lisa Robertson how to spot one of those "monied" folks!) will take a fancy to ShopNBC like John Michael Montgonery took a shine to that pretty lady at the Grundy County Auction ...

And I said
Hey pretty lady won't you give me a sign
I'd give anything to make you mine all mine
I'll do your biddin' and be at your beck and call
Yeah I've never seen anyone lookin' so fine
Man I gotta have her
She's a one-of-a-kind
I'm goin' once, goin' twice
I'm sold to the lady in the second row
She's an eight, she's a nine, she's a ten I know
She's got ruby red lips blonde hair blue eyes
An' I'm about to bid my heart good-bye

--"Sold," John Michael Montgomery


  1. What happened to Michael Valitutti and Signity
    and Modern Metals?


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