While it is obvious that CC is not doing too well at the present time I find it interesting that no one and I mean no one takes the huge changes of the past year in to account, other than the "layoffs" at the beginning of last summer.
CC has gone through a complete restructuring at the store level, a process that was designed to take 4 years to complete was crammed into 2 months to try to beat the holiday season of 07. While I believe it was a mistake for the short term, in the next few years you will see CC begin to take back a large chunk of the market share from BB.
Another thing that is often overlooked when talking about CC is the simple fact that everything the company has is OWNED by the company. There are no monies owed to ANYONE. While this may or may not be a "good" business strategy I do know that CC is not in a position to "need" to sell for such a low amount. Sure the stock is under $5 now, but as I said with the recent transformations that have and are still taking place, you will see CC stock back up in the $20-30 range it was in just a couple years ago.
I am sure if the current board is willing to accept any offer it will be one of at least twice what Blockbuster just offered.
Let the hive mind of Engadget get that for you.
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