Computer geeks and anyone else who wants to find a wide selection of accessories for their computer systems will miss CompUSA when its doors close at the end of 2007. It's mind-boggling how the richest man in the world, Mexican retailer and telephone baron Carlos Slim, could turn a multi-billion investment into zero in just eight years. In 2006, CompUSA had $4 billion in sales; that's expected to drop to just $1.5 billion in 2007 with more than 100 stores closed throughout the year.

In its heyday, CompUSA offered better protection for consumers who bought its extended warranties and better service than Best Buy ever could. While the service contracts will still be legally valid, I doubt the service will be anywhere near as good as it was when you could walk into a CompUSA store and work directly with the service people. CompUSA bailed me out of a number of computer crises over the years and I for one will miss them dearly. Luckily I'm married to a computer geek now who can do my repairs for me. My business would be shut down without my computer.

The biggest mistake Slim made was underestimating the need for marketing. While Best Buy and Circuit City fought it out for customers on the airwaves, CompUSA stayed silent. There was just too much noise from competitors and not enough response from CompUSA.

We'll miss you, and hope we can find another good outlet for computer accessories and support. For all the computer geeks out there that lost jobs as tech jobs moved overseas, this could be a blessing in disguise. It may be a good time to look into starting your own computer support businesses and replace the void CompUSA will leave.

This post was written as part of a series on on 2007 departures. Read about more products, companies and people you won't see in 2008.

Last week, CompUSA announced that it would be selling or closing all remaining stores in the United States. Consumers have been panicking, especially those who bought service plans for their computers. They were afraid they'd be left high and dry.

I am one of those consumers with a computer from CompUSA and I also purchased the TAP (Technology Assurance Plan.)

Rumors were flying about whether or not those plans would still be valid, and they are still valid and will be honored.

The plans are administered through Assurant Group (what CompUSA employees sometimes refer to as "the underwriter"). It does business under different names in different states, but the parent company is Assurant Group.

CompUSA, the king of overpriced products and some of the worst customer service in the industry, is calling it quits. Early this year, the computer and electronics retailer closed over half of its stores in an attempt to save the ailing business. Some $440 million of cash was infused into the company to help resuscitate it. But all of this wasn't enough, and the company is planning on selling or closing all of the 103 remaining stores. CompUSA has been sold to Gordon Brothers Group, which will sell off all the assets.

If you ever shopped at CompUSA, you will likely agree that the loss of this chain is really no loss at all. It was known for its overpriced products and more so for some of the tech retail sector's worst customer service.

I personally experienced a sales person who lied about the features of a computer service plan, deliberately overcharged me for it, and hassled me when I discovered the overcharge and went back to the store for an adjustment. This wasn't my only horrible experience with CompUSA, but seems to be representative of the atrocities the company committed against consumers each day.

And CompUSA didn't just treat its customers poorly. It looks like the employees have it just as bad. A blogger purporting to be a CompUSA employee says that management didn't know the stores were closing, even when the Wall Street Journal ran an article about it. It took a day for the "official" word to be communicated to employees. Nice.

Forensic accountant Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations through her company, Sequence Inc. Forensic Accounting. The Association of Certified Fraud Examiners honored Tracy as the 2007 winner of the prestigious Hubbard Award and her first book, Essentials of Corporate Fraud, will be on bookshelves in March 2008.