From ABC News (via wastedblog): Cat-Cloning Company to Close Its Doors
SAN FRANCISCO Oct 11, 2006 (AP)— Genetic Savings & Clone, a biotechnology company that sold cloned pets, sent letters to its customers last month informing them it will close at the end of the year because of little demand for cloned cats. The company had recently reduced the price from $50,000 to $32,000.
The letters said the Sausalito company was not accepting new orders for clones because it was "unable to develop the technology to the point that cloning pets is commercially viable."
Animals rights activists complained that new feline production systems aren't needed because thousands of stray cats are euthanized each year for want of homes. Those groups were elated Wednesday at news of the company's demise.
This is what is referred to in the investment community as a CAT-tastrophic business idea.