What's going on with Apex?
What in the hell is going on over at Apex? Back in March there were laudatory articles in the New York Times Magazine about how they were redefinining the market for low-end electronics with $30 DVD players and incredibly inexpensive flat-panel CRT televisions, now nine months later it looks like the company is falling apart. Analysts estimate that Apex's market presence is down 80%, Sichuan Changhong Electric Company, the biggest television exporter in China and one of their primary suppliers, says that the company owes them nearly half a billion dollars, and David Ji, Apex's president, has reportedly been arrested in the southern Chinese city of Shenzen on fraud charges. Something is definitely amiss in the House of Apex.
