More than a token comeback

Former Fort Worth electronics giant RadioShack reboots as cryptocurrency company

Could RadioShack come back?

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Although the RadioShack electronics retail chain essentially crumbled following bankruptcy filings in 2015 and 2017, the name has survived for 100 years. In a bid to make RadioShack relevant for another 100 years, the brand’s new owner is making a play for one of the hottest, and most controversial, emerging business sectors in the world — cryptocurrency.

Seeking to capitalize on RadioShack’s global brand name, Miami-based owner Retail Ecommerce Ventures is propelling RadioShack (once based in Fort Worth) into the promising yet murky territory of cryptocurrency. Cryptocurrency is digital currency built on a technology platform known as blockchain; bitcoin is perhaps the best-known type of cryptocurrency. In November, the size of the global cryptocurrency market surpassed $3 trillion.

“The need for a bridge between the CEOs who control the world’s corporations and the new world of cryptocurrencies will most likely come in the form of a well-known, century-old brand. RadioShack is perfect,” RadioShack proclaims on its website.

High-profile investors like Elon Musk have enthusiastically hopped on the cryptocurrency bandwagon. Yet other big-name investors, such as Warren Buffett, cast doubt on the viability of the scam-prone, highly volatile cryptocurrency market.

The owner of RadioShack clearly shares space on the Musk bandwagon. On its website, RadioShack — whose name still appears on hundreds of stores operated by independent dealers — recently revealed plans for a cryptocurrency platform called RadioShack DeFi (short for decentralized finance). The company touts RadioShack DeFi’s ability to profit from a 100-year-old brand name that’s recognized in more than 190 countries and once encompassed more than 8,000 stores.

The concept calls for people to freely swap existing cryptocurrency tokens for newly created RADIO cryptocurrency tokens through the RadioShack DeFi platform.

“It is our hypothesis that the best way for crypto to be more mainstream is for an established brand name in the tech space to lead the way. … Despite its pullback in the last 10 years, the brand is resolutely embedded in the global consciousness — ripe to be pivoted to lead the way for blockchain tech to mainstream adoption by other large brands,” RadioShack declares.

Retail Ecommerce Ventures bought RadioShack’s brand assets in 2020. The business also owns the ecommerce business of Pier 1, formerly based in Fort Worth, along with obsolete retail brands such as Dressbarn, Linens ’n Things, and Stein Mart.

Interestingly, RadioShack’s cryptocurrency setup would run on a system called Atlas USV that’s owned by entrepreneurs Tai Lopez and Alex Mehr — the same guys who own Retail Ecommerce Ventures and, thus, RadioShack.

“Lopez and Mehr are clearly staking the success of the entire operation on the strength of the RadioShack brand with consumers,” PCMag.com observes.

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Death Penalty

Tarrant County man gets death for murder of convenience store owner

Tarrant County Sheriff's Office

Christopher Turner

A man received the death penalty for his 2020 cold-blooded execution of a convenience store owner.

According to a release from the office of Tarrant County Criminal District Attorney Phil Sorrells, a Tarrant County jury sentenced Christopher Karon Turner, 48, to death on November 20 for executing convenience store owner Anwar Ali during a robbery. Tarrant County Assistant District Attorneys Charles Boulware and Allenna Bangs represented the state.

On March 27, 2020, at around 6:15 am, Turner, a convicted felon, wore a surgical mask and a glove and entered the Super Big Country Mart in an unincorporated area of Tarrant County south of Fort Worth. There, he held a gun to the back of Anwar Ali, the 62-year-old store owner, and walked him through the store.

Ali did everything Turner demanded, including opening the cash register to give him money. And yet Turner forced Ali into the bathroom and onto his knees, and shot him in the neck. Ali was discovered, dead in the bathroom, about an hour later.

Turner fled the store in Ali's Toyota minivan with the money from the register and Ali's wallet. In the van, he found more than $50,000 cash in a black bag. Over the next few days, Turner went on a shopping spree, buying cars, jewelry, drugs, clothes, and more. He and others used cash and a credit card that belonged to Ali.

Turner fled to Colorado where U.S. Marshals arrested him. On his body they found a firearm which was determined to be the murder weapon.

"This was a premeditated, cold-blooded murder," Boulware told the jury. "From the moment he was charged with this crime, he has tried to escape responsibility."

Bangs noted that before this trial began, Turner obtained the names of jurors and their telephone numbers, and gave them to an inmate charged with murder. At the trial on November 20, as Bangs addressed the jury, Turner tried to hold up a sign to the jury but was handcuffed by Sheriff's deputies who removed him from the courtroom, while he yelled out "she lied."

Ali came to the United States from Pakistan decades ago to pursue the American dream. Ali's son, Hussein, spoke in the courtroom after the death penalty was announced. "Thank you for giving us justice," Ali said. "I hope there are no more devils like this person."