More Bad News for the News
The economic news continues to be bad and worse. Today, we are sorry to say goodbye to our old friends at Elephant, founded by Stuart Skorman as Elephant Pharmacy, made over by investors after he moved on with the trendier-sounding name of Elephant Pharm. In the brave new world of the Awful Oughties, neither a good business plan nor honest business practices nor clever marketing turned out to be enough to save Elephant. Like an increasing number of retailers, from large (Circuit City) to small (the deli on your corner, perhaps), it’s not possible to survive without credit, and credit’s broken. -more-