Economic Archeology (26/274)

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The Fifth Ave. store of The Wiz electronics chain is seen on February 12, 2003. Cablevision, which owns the retailer is closing the 17 remaining The Wiz stores if a buyer cannot be found.  In August 2002 Cablevision, in a bid to cut costs and increase profit closed about half of the chains' stores. A weak retail economy and other factors has been cited as the reason. The chain was started in 1976 by Norman Jemal as "Nobody Beats the Wiz" and was sold to Cablevision in 1996. (© Richard B. Levine)
The Fifth Ave. store of The Wiz electronics chain is seen on February 12, 2003. Cablevision, which owns the retailer is closing the 17 remaining The Wiz stores if a buyer cannot be found. In August 2002 Cablevision, in a bid to cut costs and increase profit closed about half of the chains' stores. A weak retail economy and other factors has been cited as the reason. The chain was started in 1976 by Norman Jemal as "Nobody Beats the Wiz" and was sold to Cablevision in 1996. (©...
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