RedEnvelope issues hundreds of pink slips
San Francisco-based online and catalog retailer RedEnvelope, abandoned by its CEO and its bank, has laid off substantially all of its 200-some employees, we hear. The website is expected to go offline Friday morning. The company, founded in 1997 and taken public in 2003, was hit by woes both old and new. For an e-commerce business, it was slow to embrace change, relying too long on its printed catalogs, and failing to embrace even the most basic techniques of acquiring customers online.