Wednesday, June 24, 2009
News Inserection gets, um, handed off — to new ownership, that is
Posted by Scott Henry @ScottTheHenry on Wed, Jun 24, 2009 at 9:59 PM
Atlanta's venerable chain of "adult fantasy stores" has been sold to a Midwestern company that operates 30 similar boutiques — under the name Intimate Ideas — in Ohio, Michigan, North Carolina and Rhode island. Actually, the sale happened a couple months back, but the parties kept quiet about it.
The new owner, James Olsafsky, has been in the business 25 years and his daughter, Jamie, serves as general manager of the chain. So, you see, it's a family business.
Anyway, Ms. Olsafsky says the company is busy cleaning and renovating the well-used Inserection video booths — not a job I'd want; building up the inventory of "tobacco" products; lowering prices on DVDs; and adding selections of lingerie.
The sale included a dozen properties — eight stores in Atlanta, including New York Video and Tantra; three stores in Florida; and one in South Carolina.
What the sale didn't include was include the flagship Inserection on Cheshire Bridge Road near Piedmont Avenue. That apparently still belongs to pioneering Atlanta smut peddler Michael Morrison, who opened his first store, 9 1/2 Weeks, on West Peachtree Street in 1995. Within a few months, maybe next year, the Olsafskys plan to change the name of their new stores. In the meantime, the two companies will share the name and logo — but not a website — and customers will have to deal with the confusion.
Morrison was sent to prison in 2005 for tax evasion and cheating his business investors, serving two-and-a-half years behind bars. He was ordered to repay $1.4 million to the IRS. We have no idea if his legal troubles prompted the sale of his empire; he didn't return our call.
Comments (2)
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Michael Morrison sold his porn stores to fund his new projects, along with the project that he stole from me.
His new projects can be seen at tradewindfinancial.com
The project he stole from me is INTopic Media, you can read about it at the blog I setup which is www.intopicmedia.org
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PHAHAHA you guys know how it is. Michael is smart at manipulating people and you probably knew that before this occurred. With that said next time you might not tell anyone who is capable of screwing you over. I actually have an intopic business card from him. He's a man who gets whatever he wants and I think that's an amazing gift. You're comments wont matter he's far past this now.
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