Wringing Lessons From Microworkz's FailureBy
When it comes to business failure, it’s hard to top the swift rise and fall of computer maker Microworkz. Founder Richard Keith Latman shut down the Seattle company in 1999, after an unexpected onslaught of PC orders left it unable to ship product or pay suppliers. Microworkz was sued by Washington State’s attorney general, which obtained a $1.5 million judgment against Latman that was never collected because he filed for bankruptcy. In 2006, he pleaded guilty to bankruptcy fraud and was fined $65,000.
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