Ferrit's gone, is AAPT next?

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Gone are the irritating TV ads and with them Ferrit, Telecom's loss making online shopping mall. While he's in clean up mode chief executive Paul Reynolds should now sell Telecom's perennial Australian albatross, AAPT.

When it was launched in 2005, Ferrit was an idea already past its use by date. With so many retailers having their own websites, why did anyone need an online middleman?

Working in Fairfax's offices across the road from Ferrit, its staff quickly came to remind me of the excesses of the dot.com bubble I covered in London at the turn of the century.

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