Today CNN reported that Circuit City is filing for Bankruptcy. Their reasons are increased competition from Wal-Mart and Best Buy, along with the credit crunch and financial market woes. As a former IT Auditor at Circuit City, let me say B.S.!
Circuit City is an extremely poor run company that wastes it budgets and refuses to listen to those who point out the obvious. In IT alone, you can’t expect to cut costs by laying off your most senior and knowledgeable employees, while you’re wasting money on unnecessary 3rd party maintenance agreements, over blown consulting contracts and refusing to correct security issues that put your customer’s data at risk.