Turbulent takeoff

Amy Nye Wolf quit her job as a financial analyst for Goldman, Sachs and founded Altitunes in 1994 to sell CDs in airport terminals. But she did not do her homework. She was stunned when airport officials rejected her construction plan. Construction costs doubled and the kiosk was finished 3 months b...

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Bibliographic Details
Published in:Forbes 1999-05, Vol.163 (9), p.94
Main Author: Mastony, Colleen
Format: Magazinearticle
Language:English
Subjects:
Airports
Construction costs
Cost control
Financial analysis
Kiosks
Music
Startups
Wolf, Amy Nye
Online Access:Get full text
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Summary:Amy Nye Wolf quit her job as a financial analyst for Goldman, Sachs and founded Altitunes in 1994 to sell CDs in airport terminals. But she did not do her homework. She was stunned when airport officials rejected her construction plan. Construction costs doubled and the kiosk was finished 3 months behind schedule. By the time she opened her 11th and 12th kiosks, she should have known the drill. She is not coining money, even with a gross margin of 37%.
ISSN:0015-6914
2609-1445