Thursday, October 23, 2003


X10 files for Chapter 11 | CNET News.com  

X10 files for Chapter 11 | CNET News.com: "X10 files for Chapter 11
Last modified: October 22, 2003, 3:16 PM PDT
By Paul Festa
Staff Writer, CNET News.com

The company that only last year billed itself as the world's largest online advertiser has filed for Chapter 11 bankruptcy protection.
X10 Wireless Technology, which marketed its Net cameras through a vast campaign of Web pop-under advertisements, made the filing on Tuesday in the U.S. Bankruptcy Court for the Western District of Washington. "

I wish I could say that I was upset, but I don't like to lie. 'One less sleazeball operator' is a lot closer to my feelings. The article goes on to say that they didn't provide any financial statement when filing, so they're 10 days away from having their Chapter 11 petition dismissed, which would be like throwing them to the wolves. My guess would be an immediate Chapter 7 filing would happen at that point. Sadly, Chapter 11 would allow them to come back on the scene. They recently lost a lawsuit over their use of a particular way of programming pop-under windows, which probably was the last straw. The real culprit, here, is their universally disliked status for offering advertisers another way to annoy people. The other company involved- Advertisement Banners.com, isn't exactly on top of my Good Guy list, either, since they claim to have invented the technology.

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