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Crazy Eddie
Posted by: Seacrest
Date: January 31, 2006 01:06PM
Truly Insane, or Innovative Visionary?

Discuss.

I'm a little ferklempt.
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Re: Crazy Eddie
Posted by: troywellbuilt
Date: January 31, 2006 01:13PM
I've never met him, but I've heard his prices were INSANE!
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Re: Crazy Eddie
Posted by: Guitarman
Date: January 31, 2006 01:17PM
Quote

Crazy Eddie was a consumer electronics chain which was primarily located in the Northeastern United States. It was started in the 1970s in Brooklyn, New York, by businessman Eddie Antar.

The chain became well-known for its television and radio commercials in which actor Jerry Carroll delivered his lines rapid-fire, proclaiming in a loud voice that "Crazy Eddie will beat any price you find", always ending his sales pitch with the memorable tag-line "Crazy Eddie - His Prices Are In-saaane!". The hyperactive TV spokesman became so identified with the company that many viewers assumed that he was the owner of the company, despite the fact that Crazy Eddie was always referred to in the third person.

In 1989 the chain suffered a major scandal when Eddie Antar and his family were accused (and eventually convicted) of "cooking the books" in order to skim money and inflate inventory. Antar was found to have sold used electronics as new, committed insurance fraud, faked inventory, and skimmed most of the cash payments to avoid taxes. Having taken the company public (the stock was soon worth hundreds of millions), Antar began selling his stock and the stock price began to collapse. The firm was bought in a hostile takeover by another company, but the buyers were quick to find that some $80 million in inventory did not exist. Antar fled to Israel using the name David Cohen, where he lived until 1994 when he was extradited back to the United States. He was subsequently sentenced to eight years in jail, ordered to pay over $150 million in fines and also owes more than a billion dollars from civil suits.

In 1999, the grandchildren of Eddie, Allen and Mitchell Antar revived the Crazy Eddie electronics chain with a store in Wayne, New Jersey, and as an online Internet venue. However, in 2004 Crazy Eddie went out of business again.

In the popular TV Series, Futurama, the character of Malfunctioning Eddie (The over-excited robot which sells cars and explodes if he gets even slightly over-excited) is a parody of Eddie Antar and the Crazy Eddie Empire. Coincidentally, when Eddie Antar fled to Israel, he adopted the false name of David Cohen. David X. Cohen is an executive producer and writer on Futurama. Weird Al Yankovic also made a reference to the chain. In his film, "UHF," there is a used car salesman who delivers his lines rapid-fire and is called "Crazy Ernie.

[en.wikipedia.org]







Edited 1 time(s). Last edit at 01/31/2006 01:32PM by Guitarman.
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Re: Crazy Eddie
Posted by: the_poochies
Date: January 31, 2006 01:21PM
I bought my entire component stereo there back in 1986 and still have most of the components and all of the receipts and manuals. The commercials were a hoot!
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Re: Crazy Eddie
Posted by: Guitarman
Date: January 31, 2006 01:25PM
I believe Ken Lay studied Crazy Eddie's business plan when he was running Enron.



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Re: Crazy Eddie
Posted by: ka jowct
Date: January 31, 2006 01:29PM
His bookkeeping was insane, too.

I bought my nice little Proton TV from Crazy Eddie. Still working (more or less) 20 years later.
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Re: Crazy Eddie
Posted by: Seacrest
Date: January 31, 2006 01:30PM
Guitarman Wrote:
-------------------------------------------------------
> I believe Ken Lay studied Crazy Eddie's business
> plan when he was running Enron.
>

So, that's a vote for visionary then?


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Re: Crazy Eddie
Posted by: Guitarman
Date: January 31, 2006 01:36PM




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Re: Crazy Eddie
Posted by: Jack D.
Date: January 31, 2006 03:20PM
I bought a nice Onkyo receiver and tape deck from them (still have them up stairs). The tape deck has a "remote control" with 30' of cable attatched to it! Ahhh...the good 'ol days!




- Jack D.




New tasteless sig coming soon!
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Re: Crazy Eddie
Posted by: MacMagus
Date: January 31, 2006 04:46PM
Man, they had great deals! I got my first dual cassette boom box from them in 1985. With auto reverse and EQ. Almost $50 dollars less than PC Richards.

My Crazy Eddie store became a Sam Ash.

Lose one, gain one.
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Re: Crazy Eddie
Posted by: Racer X
Date: January 31, 2006 07:59PM
They made fun of him on SNL numerous times as well. Dan Akroyd I believe.
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Re: Crazy Eddie
Posted by: Robert
Date: January 31, 2006 09:48PM
The original store was on Kings Highway in Brooklyn near where I grew up. The original store really did have good prices.
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