The Crazy Rise of Crazy Eddie: How an Electronics Store in the 80s Tricked Investorsby@strateh76
1,163 reads

The Crazy Rise of Crazy Eddie: How an Electronics Store in the 80s Tricked Investors

June 20th 2022
1 min
by @strateh76 1,163 reads
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In 1984, Crazy Eddie's electronics store launched a major IPO. The company had annual revenues of about $134 million - today, it's around $372 million. It was a cultural sensation thanks to ads that were parodied even on the comedy show SNL. To avoid paying taxes, the head of Crazy Eddie hid profits, paid "black" wages, and fooled auditors by introducing them to the store's female employees. But in the end, he failed because of competitors and a split in the family.

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@strateh76

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