It's official, Circuit City is going out of business.
Well, at least it is at this point unless someone changes their mind and buys them out over the next few days...
http://money.cnn.com/2009/01/16/news/co … 2009011612
I can't see anyone buying them except maybe WalMart.
Another one bites the dust. Going to see a lot of that this year I think.
I've said it before- as much as it is a bad thing that many innocent people lose their jobs over corporate greed/scandal/etc, I hope we see more companies go under.
There is just too much consumerism here in the U.S.
By the middle of February the list of dead retailers will be longer than your arm. I think we'll have a moving and festive Inauguration followed by months and months of sheer economic hell. If you think 2008 was bad, hold on to your hat!
Our economic system is based on natural selection/survival of the fittest. "Fit" has many meanings. The companies that will survive are not necessarily the "best" companies.
I agree we have entirely too much consumerism. Do we need Circuit City and Best Buy and Frys and Radio Shack and Walmart and Costco and, and, and...?
Jeez. At this rate, it'll soon just be WalMart, WalMart, and WalMart. And then everything really WILL be made in China. . . .
I was watching the news and they said that Walmart and one other company I forget, maybe Sams Club are the only two entities that are not being effected much by the economy.
I don't know, I am still feeling sorta sad about Mothers Cookies going bankrupt.
Next, Baskin n Robins, Ben and Jerry's, Sea World, Disney Land.
I wish the government would just show some real sound judgment and let all the banks fail, close them down and give peole their money back.
Don't know if you heard, there is some talk about people recieving IOUs this year instead of tax refund checks. Wouldn't be so bad except the banks have already denied accepting IOUs.
Circuit Cities in San Diego have been closing down since September, I think. As well as Mervyns. (not that I shopped there anyways) which is gone already.
Also, Home Depots and if it wasn't for an independent merger between Toyota and Ii think Ford, that would have shut down too.
I hate to see how bad it can get but agree, let them all crumble but make it quick, no sense in prolonging the suffering...farewell Circuit City.
Yes, the State of California had to send out some IOUs instead of state refunds. They just don't have the money.
I think KMart & Sears have to be DOA this year. They've been limping along since before the meltdown, and I know they both had a horrible holiday season.
We could start a retail death watch and take turns guess who will be next.
yes, how kmart and sears managed to stay afloat is beyond me, I think you are right, they will be next.
I also think Crate n Barrel went out of business.
Can we get the list of all the businesses that have gone under? That would be interesting to see.
Which grocery chain to you think will go first? Alberstons (wait, I think that may have already happened too) but if not, then I guess, Albertson then Food 4Less then it's a showdown between Safeway/vons and Ralphs.
I agree, I think K-Mart or Sears (or both) will go next. To be honest, I hope both go out.
And again, I don't want to seem heartless. I'm sorry that you lost your banking job (that was you, right?). And I'm sorry for those at CC who don't have jobs anymore. I spoke with one on the phone today as I called to get a replacement bulb for my projector before they go bankrupt! But he was saying he just found out today that he won't have a job pretty soon. Sad that they didn't even give their employees more of a "heads up".
Like I said, I think it's the little people who get hurt most and the big wigs who don't. But the underlying theme seems to be consumerism- one of the most rampant plagues in the developed world.
Losing my bank job was a gift from God. Seriously, what a horrible job. Now I am in the frame of mind where I don't want any job. I've been writing for $ and thinking of other ways I can earn my own money and cut back on expenses.
I think that is what lots of people will have to do. I think some very big banks will go under. Citi is very close and I think they should let it fall. I'm sick of paying taxes so the government can give them away to rich people and use them to bomb and torture foreigners. I don't feel good about paying those taxes anymore. They are used to support things that make me sick.
It was shocking to see Mervyn's go out of business in our city because this had been the first major place to shop starting in 1981. I feel for the people who lost their jobs because even minimum wage jobs are hard to find these days. The other day I was eating at Del Taco and the manager was conducting an orientation for a new group of employees. She basically told them if they do not do a list of certain things she can replace them very easily because the economy is not good and everyone is looking for a job. This is one of the major reasons people actually come into the library to use the computer these days, to apply for jobs.
Sweetie Pie, I was talking with my eldest daughter about this Friday. The jobs that are hiring are so abusive about it now because everyone is so desperate. It seems to bring out the worst in people somehow.
Unfortunately this means no shortage of work in the crisis business. My agency is laying off people in one part while there is a bonus for referring a crisis worker who gets hired.
I live in Canada and so far the economy here is doing fairly well, but the cracks are beginning to show. We just lost Nortel, at one time one of the biggest electronics manufacturing firms in the world. Its stocks are now worthless and many people have lost their retirement savings.
We in Canada are just waiting to see if the economic collapse south of our border will suck us down with it.
I really feel for all of the people who are losing their jobs in the US, and worry what will be in store here in Canada. I think that we will see a lot worse in both countries in 2009/10.
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