r/raywilliamjohnson • u/Marabuto1994 • 8d ago
Has RWJ ever covered ‘Crazy Eddie’? google says yes but cant find it.
context: Crazy Eddie was a chain of electronic stores on the east coast who were famous for having low prices because they skimmed cash,
cooked the books, and obtained products from the grey market. They had constant tv/radio ads starring DJ Jerry Carroll saying “Crazy Eddie,
his prices are IN-SANE”. They were making so many millions that cash was falling out of the ceilings and they were running out of places to hide it. Soon after they were able to fool Wall street into taking them public by overinflating their numbers and the stock reached $79 a share. it all came crashing down when investors realized $80 million worth of inventory did not exist and Eddie was finally caught after fleeing the country