Free Republic

Va. (AP) - Circuit City Stores Inc., the nation's No. 2 consumer electronics retailer, will sell its private-label credit-card business to Bank One Corp. for $1.8 billion in cash. Circuit City said Tuesday that it is shedding the credit-card operation so it can focus on renovating and relocating aging stores, as well as opening new outlets. In November, the retailer sold a bank-card portfolio to FleetBoston Financial for $1.3 billion. The upcoming sale "further simplifies the investment picture for Circuit City shareholders and allows us to focus our attention on the needed improvements in our retail business," said W. Alan...