Global Economic Crisis

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Re: Circuit City files Chp 11 bankruptcy

Postby KenTaiwan98 » 17 Nov 2008, 00:14

It's funny. I had a similar experience with M&S in the UK.

I was shopping in the summer with the wife, it was close to closing time so we grabbed a bunch of stuff that we were needing - food, shoes, clothes, etc. ... it totalled more than $200 with ten minutes to go ... Woops Cash not enough~! OK, let's get out the credit cards... Woops!~ No, they only took M&S cards at the time... Ok! Run upstairs to the ms bank ... oh, sorry they'd just cashed up and were closed.

And no one cared. I found a floor manager and complained loudly. But she was useless. The company just didn't care a toss about its customers, weren't prepared to help out in a situation of their own making, ...

BTW, I forgot to say: this was a major London high street outlet with a decent amount of foreign customers coming through; it was the height of summer;...

Anyway, I had to leave the items at the checkout; and while we didn't get what we wanted that day, it signified much worse times ahead for M&S because they were going through some very tough times in the British market and have only recently made any headway.

But it's amazing how often a company can shoot itself in the foot: remember that!

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Re: Circuit City files Chp 11 bankruptcy

Postby Namahottie » 17 Nov 2008, 00:42

spook wrote:I'm not blaming you personally, tommy. I'm just steamed at all the stupidity and arrogance which is destroying a good country. If you want to bet on something that's a sure thing put your money down on the fact that the standard of living in the U.S. is going to drop 30% before it's all over and everything else is just the details.


Just remember the Roman Empire,my friend....
@michellemalkin Just so we're perfectly fucking clear here: You're a crazy fucking shitwad. Enjoy your night. Read more at @MayorEmanuel
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Re: Circuit City files Chp 11 bankruptcy

Postby Namahottie » 21 Nov 2008, 12:03

Just received this email from a viable source:A list of stores that are closing.



Circuit City (filed Chapter 11)
Ann Taylor 117 stores nationwide closing
Lane Bryant, Fashion Bug ,and Catherine's to close 150 stores nationwide
Eddie Bauer to close stores 27 stores and more after January
Cache will close all stores
Talbots closing down specialty stores
Jill closing all stores (owned by Talbots)
Pacific Sunwear (also owned by Talbots)
GAP closing 85 stores
Footlocker closing 140 stores more to close after January
Wickes Furniture closing down
Levitz closing down remaining stores
Bombay closing remaining stores
Zales closing down 82 stores and 105 after January
Whitehall closing all stores
Piercing Pagoda closing all stores
Disney closing 98 stores and will close more after January
Home Depot closing 15 stores
Macys to close 9 stores after January
Linens and Things closing all stores
Movie Galley Closing all stores
Pep Boys Closing 33 stores
Sprint/Nextel closing 133 stores
JC Penney closing a number of stores after January
Ethan Allen closing down 12 stores
Wilson Leather closing down all stores
Sharper Image closing down all stores
K B Toys closing 356 stores
Dillard's to close some stores

Of course, you think, this doesn't apply since I'm in XYZ, but this is the sign of the times in the US. Stores close, lack of purchasing choice, lack of jobs, etc. I suspect 2009 is going to be a rough ride....
@michellemalkin Just so we're perfectly fucking clear here: You're a crazy fucking shitwad. Enjoy your night. Read more at @MayorEmanuel
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Re: Circuit City files Chp 11 bankruptcy

Postby tommy525 » 21 Nov 2008, 23:39

Back from Vegas. Virgin America was a great and at half the price of Southwest. The Phantom of the Opera was fantastic (place was only 3/4 full). The O at the Bellagio was incredible and full house. Vegas gaming tables were pretty full. No sign of the recession there. The shows are still expensive and the meals are still expensive, but the hotels are great values due to low season.

I don't gamble so I didnt give the casinos a dime (other then staying at the NYNY hotel , which was very good).

Theres your update on the scene at vegas, in short "recession? what recession" (in vegas anyway).
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Re: Circuit City files Chp 11 bankruptcy

Postby Mother Theresa » 22 Nov 2008, 10:34

tommy, I'm glad you had a good time, and I'm glad thing appeared reasonably well there, but I believe you were greatly deceived, the gaming industry, like the hospitality industry in general, and like all discretionary spending, is suffering greatly and they were only putting on a good face for you, and you apparently bought it.

Did you know Las Vegas Sands Corp, one of the founders of Las Vegas and owner of many casinos around the world has lost 97% of their value in the past year? One year ago their stock was trading at $118/share. Today it's at $3.23.

What about their competitors?

MGM Mirage is down 89% for the year.

Wynn Resorts is down 76% for the year.

Century Casinos is down 85%

Monarch Casino and Resort Inc is down 74%

Riviera Holding Corp is down 87%

My brother has been in the hospitality industry for over 20 years (buying, selling and managing hotels) and we had a very somber talk the other day. His company is devastated. The whole industry is devastated. The whole global economy is being devastated.

People continue trying to put on a good face, hoping maybe it won't hit them, maybe it's bottoming out, maybe it's turning around, but they're wrong. This is a major crisis that will hit virtually everyone around the world, except for subsistence farmers and the like who are not tied to the global economic network, as all of us are, including you.

Namahottie, thanks for posting that list. Impressive. But it ain't over yet. Not even close.
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Re: Circuit City files Chp 11 bankruptcy

Postby Namahottie » 22 Nov 2008, 11:37

I believe by 2010 we'll see a nice upswing. And it will be interesting to study which companies and why, were able to sustain,even grow, themselves during the economic crisis.

But I'm not too happy with O's cabinet picks. Let's see where their interests lie....
@michellemalkin Just so we're perfectly fucking clear here: You're a crazy fucking shitwad. Enjoy your night. Read more at @MayorEmanuel
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Re: Circuit City files Chp 11 bankruptcy

Postby tommy525 » 22 Nov 2008, 12:23

Mother Theresa wrote:tommy, I'm glad you had a good time, and I'm glad thing appeared reasonably well there, but I believe you were greatly deceived, the gaming industry, like the hospitality industry in general, and like all discretionary spending, is suffering greatly and they were only putting on a good face for you, and you apparently bought it.

Did you know Las Vegas Sands Corp, one of the founders of Las Vegas and owner of many casinos around the world has lost 97% of their value in the past year? One year ago their stock was trading at $118/share. Today it's at $3.23.

What about their competitors?

MGM Mirage is down 89% for the year.

Wynn Resorts is down 76% for the year.

Century Casinos is down 85%

Monarch Casino and Resort Inc is down 74%

Riviera Holding Corp is down 87%

My brother has been in the hospitality industry for over 20 years (buying, selling and managing hotels) and we had a very somber talk the other day. His company is devastated. The whole industry is devastated. The whole global economy is being devastated.

People continue trying to put on a good face, hoping maybe it won't hit them, maybe it's bottoming out, maybe it's turning around, but they're wrong. This is a major crisis that will hit virtually everyone around the world, except for subsistence farmers and the like who are not tied to the global economic network, as all of us are, including you.

Namahottie, thanks for posting that list. Impressive. But it ain't over yet. Not even close.


Zowee and Holy Cow. I did buy it as you said, with cold hard cash. 1500 bucks worth (yes , I am not a high roller) ! No doubt the behind the scenes is different but the O show was packed....not one single seat and theres a long long line for standby tickets, people just hoping for someone to NO SHOW. The Phantom was not sold out though.

And the Wynn is building their "six star" , all suite compliment to the Wynn called ENCORE, opening in December I believe. People are crawling all over las vegas, restaurants are PACKED and the Casino floor is PACKED in the evenings. Prices are HIGH and not a whole lot of comp going on unless you were a high roller.

But then , this is the first time iv been there in awhile (like over 20 years) so perhaps this IS las vegas Lite after-all.

But , yes its scary, these are troubled times and everyones scared.
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Re: Circuit City files Chp 11 bankruptcy

Postby 杜 拜蒂 » 23 Nov 2008, 23:44

Namahottie wrote:Just received this email from a viable source:A list of stores that are closing.



Circuit City (filed Chapter 11)
Ann Taylor 117 stores nationwide closing
Lane Bryant, Fashion Bug ,and Catherine's to close 150 stores nationwide
Eddie Bauer to close stores 27 stores and more after January
Cache will close all stores
Talbots closing down specialty stores
Jill closing all stores (owned by Talbots)
Pacific Sunwear (also owned by Talbots)
GAP closing 85 stores
Footlocker closing 140 stores more to close after January
Wickes Furniture closing down
Levitz closing down remaining stores
Bombay closing remaining stores
Zales closing down 82 stores and 105 after January
Whitehall closing all stores
Piercing Pagoda closing all stores
Disney closing 98 stores and will close more after January
Home Depot closing 15 stores
Macys to close 9 stores after January
Linens and Things closing all stores
Movie Galley Closing all stores
Pep Boys Closing 33 stores
Sprint/Nextel closing 133 stores
JC Penney closing a number of stores after January
Ethan Allen closing down 12 stores
Wilson Leather closing down all stores
Sharper Image closing down all stores
K B Toys closing 356 stores
Dillard's to close some stores

Of course, you think, this doesn't apply since I'm in XYZ, but this is the sign of the times in the US. Stores close, lack of purchasing choice, lack of jobs, etc. I suspect 2009 is going to be a rough ride....



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Re: Circuit City files Chp 11 bankruptcy

Postby Josefus » 23 Nov 2008, 23:52

Guess that source wasn't so "viable".
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Re: Circuit City files Chp 11 bankruptcy

Postby MaPoSquid » 01 Dec 2008, 01:06

Namahottie wrote:1) I left Taiwan why?
2)I'm getting a post-grad why? :doh: :roll: :loco: :noway:
Now explain to me again what a MA will do for me?

The answer to all three questions is the same: I have no f*cking idea. :D
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