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Retail shakeout: 'Worst is yet to come'

Discussions about the economic and financial ramifications of PEAK OIL

Re: Retail shakeout: 'Worst is yet to come'

Postby vision-master » Wed 15 Oct 2008, 09:16:16

$this->bbcode_second_pass_quote('Revi', 'I')t would be great if we actually became the beneficiaries of the socialist system, but unfortunately the only things being socialized are the costs. Us taxpayers get to pay higher taxes, but we don't get any health care or college tuition.


OR public transportation taht's worth a s_hit........
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Re: Retail shakeout: 'Worst is yet to come'

Postby frankthetank » Wed 15 Oct 2008, 09:22:55

$this->bbcode_second_pass_quote('', 'W')ASHINGTON (MarketWatch) - U.S. retail sales fell 1.2% in September, the biggest drop in three years and the third decline in a row, a further sign that the economy has sunk into a recession led by an exhausted consumer. Retail sales were down 1% compared with a year earlier, the Commerce Department reported Wednesday. Sales were weak in almost all kinds of stores. Excluding the 3.8% drop in auto sales, retail sales fell 0.6%. The 1.2% decline was worse than the 0.8% drop forecast by economists surveyed by MarketWatch. End of Story
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Re: Retail shakeout: 'Worst is yet to come'

Postby Ludi » Wed 15 Oct 2008, 09:25:15

$this->bbcode_second_pass_quote('Revi', 'I')t would be great if we actually became the beneficiaries of the socialist system, but unfortunately the only things being socialized are the costs. Us taxpayers get to pay higher taxes, but we don't get any health care or college tuition.

Don't worry, those things will trickle down from the wealthy!
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Re: Retail shakeout: 'Worst is yet to come'

Postby vision-master » Wed 15 Oct 2008, 09:30:41

$this->bbcode_second_pass_quote('Ludi', '')$this->bbcode_second_pass_quote('Revi', 'I')t would be great if we actually became the beneficiaries of the socialist system, but unfortunately the only things being socialized are the costs. Us taxpayers get to pay higher taxes, but we don't get any health care or college tuition.
Don't worry, those things will trickle down from the wealthy!

Think of all the jobs. CEO get's $25,000,000 an the line worker get $8 hr. :razz:
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Re: Retail shakeout: 'Worst is yet to come'

Postby frankthetank » Wed 15 Oct 2008, 10:07:05

I'm all for rewarding people who succeed, but some of these salaries are out of line. I like to compare it to doctors. My friend is currently finishing medical school to become a doctor and God knows how much money it'll all cost in the end. She'll have a very good job making excellent money, but its chump change compared to what some of these guys make. Same can be said for dentists and engineers. These people are the ones that really deserve a lot of money, not these leaches.
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Re: Retail shakeout: 'Worst is yet to come'

Postby vision-master » Wed 15 Oct 2008, 10:11:14

$this->bbcode_second_pass_quote('frankthetank', 'I')'m all for rewarding people who succeed, but some of these salaries are out of line. I like to compare it to doctors. My friend is currently finishing medical school to become a doctor and God knows how much money it'll all cost in the end. She'll have a very good job making excellent money, but its chump change compared to what some of these guys make. Same can be said for dentists and engineers. These people are the ones that really deserve a lot of money, not these leaches.

Did you know, many CEO's suffer from Attention Deficit Disorder!
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Re: Retail shakeout: 'Worst is yet to come'

Postby Snowrunner » Wed 15 Oct 2008, 11:19:44

$this->bbcode_second_pass_quote('frankthetank', 'I')'m all for rewarding people who succeed, but some of these salaries are out of line.

Shouldn't those who succeed be rewarded by themselves and their own success?

I think the problem is that we started thinking that a piece of paper (e.g. a MBA) is something real.... Now where else did that one happen......
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Re: Retail shakeout: 'Worst is yet to come'

Postby Specop_007 » Wed 15 Oct 2008, 13:20:13

$this->bbcode_second_pass_quote('gollum', 'T')his year we will sure buy the kids some toys, maybe a play station or x box, the wife and I also want a Bose wave radio. Having said that I am also trying to steer us towards some practical gifts like down comforters for the kids. For sure everything is cash this year.

Please dont buy Bose. :(
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Re: Retail shakeout: 'Worst is yet to come'

Postby threadbear » Wed 15 Oct 2008, 13:29:27

$this->bbcode_second_pass_quote('frankthetank', 'R')ochester, MN has a very fancy new shopping center. It includes Target, Dsports, big Toyota dealship, Subway, and a few other places. I could just imagine what rent is for some of these places. I've been to the Dsports a few times and my brother and I always joke about when they are going to run their "going out of business sale", because EVERY time i've been there (3 or 4 times) its completely dead. There is usually more employees then customers. The target is a joke! It has a huge amount of checkout lanes and all the times i've been there, only a few are needed because the place is dead. My brother always finds good clearance on the meats there because i'm guessing they don't sell any!


Do you get the weird feeling, that some of these places have only held on this long because they are laundering drug money?
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Re: Retail shakeout: 'Worst is yet to come'

Postby Hawkcreek » Wed 15 Oct 2008, 14:16:46

$this->bbcode_second_pass_quote('', 'I') love seeing you americans unknowingly becoming socialists...

It is funny, but when I have stated that fact to some of my friends, they didn't understand what I was talking about. I had to explain that our government owns most of the home mortages in the country, as well as most of the big banks.
Many Americans have had no reason to have to think about the economy, but that is about to change.
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Re: Retail shakeout: 'Worst is yet to come'

Postby charliebrownout » Wed 15 Oct 2008, 16:02:18

Just got this a few days ago from an aunt of mine whose mantra during the 80's was "shop til' you drop". Looks like the "consumer" society is going the way of the dinosaur:

Nationwide store closings
Guess we had better be very careful of gift certificates this Christmas.
Just in case you have them, use those Gift Certificates or you may lose them.

STORE CLOSINGS AND LAYOFFS
If you have gift cards, hurry up and use them!!
Just passing this along - FYI

Ann Taylor closing 117 stores nationwide. A company spokeswoman said the company hasn't revealed which stores will be shuttered. It will let the stores that will close this fiscal year know over the next month

Eddie Bauer to close more stores. Eddie Bauer has already closed 27 shops in the first quarter and plans to close up to two more outlet stores by the end of the year.

Cache closing stores. Women's retailer Cache announced that it is closing 20 to 23 stores this year.

Lane Bryant, Fashion Bug, Catherines closing 150 stores nationwide. The owner of retailers Lane Bryant , Fashion Bug , Catherine's Plus Sizes will close about 150 under performing stores this year. The company hasn't provided a list of specific store closures and can't say when it will offer that info, spokeswoman Brooke Perry said today.

Talbots, J. Jill closing stores. About a month ago, Talbot's announced that it will be shuttering all 78 of its kids and men's stores. Now the company says it will close another 22 under performing stores.. The 22 stores will be a mix of Talbot's women's and J. Jill , another chain it owns. The closures will occur this fiscal year, according to a company press release.

Gap Inc. closing 85 stores. In addition to its namesake chain, Gap also owns Old Navy and Banana Republic . The company said the closures - all planned for fiscal 2008 - will be weighted toward the Gap brand.

Foot Locker to close 140 stores. In the company press release and during its conference call with analysts today, it did not specify where the future store closures - all planned in fiscal 2008 - will be. The company could not be immediately reached for comment

Wickes is going out of business. Wickes Furniture is going out of business and closing all of its stores, Wickes, a 37-year-old retailer that targets middle-income customers, filed for bankruptcy protection last month.

Goodbye Levitz / BOMBAY - closed already. The furniture retailer, which is going out of business. Levitz first announced it was going out of business and closing all 76 of its stores in December. The retailer dates back to 1910 when Richard Levitz opened his first furniture store in Lebanon , PA. In the 1960's, the warehouse/showroom concept brought Levitz to the forefront of the furniture industry. The local Levitz closures will follow the shutdown of Bombay .

Zales, Piercing Pagoda closing stores. The owner of Zales and Piercing Pagoda previously said it plans to close 82 stores by July 31. Today, it announced that it is closing another 23 under performing stores. The company said it's not providing a list of specific store closures. Of the 105 locations planned for closure, 50 are kiosks and 55 are stores.

Disney Store owner has the right to close 98 stores. The Walt Disney Company announced it acquired about 220 Disney Stores from subsidiaries of The Children's Place Retail Stores. The exact number of stores acquired will depend on negotiations with landlords. Those subsidiaries of Children's Place filed for bankruptcy protection in late March. Walt Disney, in the news release, said it has also obtained the right to close about 98 Disney Stores in the U.S. The press release didn't list those stores.

Home Depot store closings. (E. Brunswick, Rt 18 just put up their closing sign) ATLANTA - Nearly 7+ months after its chief executive said there were no plans to cut the number of its core retail stores, The Home Depot Inc. announced Thursday that it is shuttering 15 of them amid a slumping U.S. economy and housing market. The move will affect 1,300 employees. It is the first time the world's largest home improvement store chain has ever closed a flagship store for performance reasons. Its shares rose almost 5 percent. The Atlanta-based company said the under performing U.S. stores being closed represents less than 1 percent of its existing stores. They will be shuttered within the next two months.

CompUSA (CLOSED) clarifies details on store closings. Any extended warranties purchased for products through CompUSA will be honored by a third-party provider, Assurant Solutions. Gift cards, rain checks, and rebates purchased prior to December 12 can be redeemed at any time during the final sale. For those who have a gadget currently in for service with CompUSA, the repair will be completed and the gadget will be returned to owners. http://www.news.com/8301-10784_3-9834177-7html <http://www.news.com/8301-10784_3-9834177-7.html

Macy's - 9 stores

Movie Gallery - 160 stores as part of reorganization plan to exit bankruptcy. The video rental company plans to close 400 of 3,500 Movie Gallery and Hollywood Video stores in addition to the 520 locations the video rental chain closed last fall.

Pacific Sunwear - 153 Demo stores

Pep Boys - 33 stores

Sprint Nextel - 125 retail locations. New Sprint Nextel CEO Dan Hesse appears to have inherited a company bleeding subscribers by the thousands, and will now officially be dropping the ax on 4,000 employees and 125 retail locations. Amid the loss of 639,000 postpaid customers in the fourth quarter, Sprint will be cutting a total of 6.7% of its work force (following the 5,000 layoffs last year) and 8% of company-owned brick-and-mortar stores, while remaining mute on other rumors that it will consolidate its headquarters in Kansas . Sprint Nextel shares are down $2.89, or nearly 25%, at the time of this writing.

J. C. Penney, Lowe's and Office Depot are scaling back

Ethan Allen Interiors: The company announced plans to close
12 of 300+ stores in an effort to cut costs.

Wilsons the Leather Experts - 158 stores

Pacific Sunwear will close its 154 Demo stores after a review of strategic alternatives for the urban-apparel brand. Seventy-four under performing Demo stores closed last May.

Sharper Image: The company recently filed for bankruptcy protection and announced that 90 of its 184 stores are closing. The retailer will still operate 94 stores to pay off debts, but 90 of these stores have performed poorly and also may close.

Bombay Company: (Freehold Mall store closed) The company unveiled plans to close all 384 U.S.-based Bombay Company stores. The company's online storefront has discontinued operations.

KB Toys posted a list of 356 stores that it is closing around the United States as part of its bankruptcy reorganization. To see the list of store closings, go to the KB Toys Information web site, and click on Press Information

Dillard's to Close More Stores. Dillard's Inc. said it will continue to focus on closing under performing stores, reducing expenses and improving its merchandise in 2008. At the company's annual shareholder meeting, CEO William Dillard II said the company will close another six under performing stores this year.
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Re: Retail shakeout: 'Worst is yet to come'

Postby Arsenal » Wed 15 Oct 2008, 16:08:01

So when do the Hovervilles or Bushvilles start showing up in earnest??
If the American people ever allow the banks to control issuance of their currency, first by inflation and then by deflation, the banks and corporations that grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied. T Jefferson
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Re: Retail shakeout: 'Worst is yet to come'

Postby gnm » Wed 15 Oct 2008, 16:10:10

$this->bbcode_second_pass_quote('Arsenal', 'S')o when do the Hovervilles or Bushvilles start showing up in earnest??


You mean the Shruburbs.... :lol:

Quite a few popping up around CA now. Heck I'm seeing people living in minivans and cars (walmart parking lot for instance) around here in NM...

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Re: Retail shakeout: 'Worst is yet to come'

Postby Arsenal » Wed 15 Oct 2008, 16:17:12

That is the most sickening display of excessive human consumption I have seen in a while.
If the American people ever allow the banks to control issuance of their currency, first by inflation and then by deflation, the banks and corporations that grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied. T Jefferson
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Re: Retail shakeout: 'Worst is yet to come'

Postby Gebari » Wed 15 Oct 2008, 16:37:46

$this->bbcode_second_pass_quote('GASMON', 'W')hat about this, just opened in Liverpool England

It's ACCESS ALL AREAS - 1st Oct '08

Access All Areas on 1st October marked the first date that the entire 42 acres of shopping and leisure was fully accessible. You can now take advantage of 42-acres of retail and leisure heaven - great new shops, gourmet restuarants and a 14 screen ODEON as we revealed the highly anticipated Leisure Terrace, and the jewel in the crown - Chavasse Park - for the first time. HRH Princess Anne launched the celebrations at midday as she declared Chavasse Park officially open, then the Liverpool ONE Street festival commenced as we celebrated in style non-stop walkabout acts and musicians. Amazing entertainment included Flamingos and Swans, The Black Eagles and Gandini...and the fun didn't stop until late into the evening!


I'd laugh if it wasn't so utterly sad and pathetic. Madness, utter madness.
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Re: Retail shakeout: 'Worst is yet to come'

Postby cube » Thu 16 Oct 2008, 05:41:49

$this->bbcode_second_pass_quote('Arsenal', 'T')hat is the most sickening display of excessive human consumption I have seen in a while.
Avoid the buffet at gambling casinos, unless you want to see people eat like pigs from a trough.
That's what I would expect from a child who hasn't been taught properly.
But to see grown adults do it...well it's embarrassing.
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Re: Retail shakeout: 'Worst is yet to come'

Postby Daniel_Plainview » Thu 16 Oct 2008, 05:58:29

$this->bbcode_second_pass_quote('GASMON', '[')b]42 acres of shopping and leisure


I give this a lifespan of two years, tops. And then CRASH! KABOOM!
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Re: Retail shakeout: 'Worst is yet to come'

Postby hope_full » Thu 16 Oct 2008, 06:50:24

Holy cow, that list of store closures is staggering. Doesn't that list give anyone else the heebie jeebies? Talk about your canary in a coal mine. Forget the canary, that's a tall stack of bodies at the mine's exit!

What I find amazing is that these stores are hanging on as long as they are. The economy in my neck of the woods is still humming along but I see quietude in the big box stores and it looks post-apocalyptic in the little stores.

We're losing the little stores in town at a steady clip.

As to Christmas shopping, I don't plan to do much this year. I'm giving the kids GOLD BULLION for presents (they're grown kids) and I'm giving everyone else "a donation made in their name" to some worthy society or group.

HF
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Re: Retail shakeout: 'Worst is yet to come'

Postby maestroe » Thu 16 Oct 2008, 06:54:22

$this->bbcode_second_pass_quote('seldom_seen', '
')Here's a simple analogy. Say you have 10 people that all have 10 seashells used for barter. You now give all 10 people 5 more shells. Each person now has 15 shells, but their relative "wealth" has not changed with respect to the other people. Now instead, you give one person 50 shells. That person is now quite wealthy in relation to the other people.

That is the power of the printing press, and the gov/bank complex is drunk with power. It is more powerful than a nuclear bomb, and it is also a "secret weapon" used to raid 401ks, pension funds and savings accounts without anyone even noticing. We of course were warned about this.


This is so true.
In my college years each year a fraternity had "cassino night" and it was a big deal, they rented a large theater and therein reproduced a casino in montecarlo complete with mediteranean theme. Hat check girl, cigars rteal bars, everything. for money they used poker chips spray painted in gold paint, and dominoes (big gold bars - 500 dollars) spray painted in gold paint. I was there three years. We always looked forward to it each year and people dressed up in real clothes and they had alcohol bars with stools, everything. The bars and real music looked like vegas.

First year I changed about 40 dollars in for chips and did well winning and increasing wealth and I could then bid on lots of prizes but they were sold out usually after the first hour, and I noticed the frat wives were the ones that usually outbid everyone--- hmmm. uAt first, the first few hours, money was scarce, then the wealth increased as the alcohol decreased and soon everyone carried 2 or 3 gold bars and a handful of chips, but now the money was worthless since the prizes were all taken by midnight.


The next year (year 2) I had saved my chips (I am smart, I went to college) I had some chips left over from previous year and began with quite a load of money which was an advantage. I actually bought one prize before they were gone. I could bet higher and win more oftern and people noticed me, though I was still a relative nobody. I saw some frat guys who managed the table just use some of the money, aha! That is why they wanted to spend the night watching the money, when they could have been partying! The bankers don't have to work for a living.

I saw the fraternity studs who controlled the money tables always had girls on their shoulders. I thought it was their status and looks, cause I was still a stupid sheep. I wished I was born a hot shot. (Common fallacy) the frat guys, I watched them after I ran out of money, and saw how they shmoozed and passed "tips" to beautiful women, and gave them special "deals" I was sucking in information fast. They would give a few chips to the hot new girls. I stayed away from them, though. Just watched. I'm sure they wouldn't talk to me. It fascinated me how some of these guys were stupid, and had flunked some classes it was funny how they had a cloud of beautiful women around them, I knew they were cheating so I had a plan.

I spent the next year getting ready and duplicating the chips and gold bricks exactly, they used a special gold paint, but I found after buying several gold spray paint's I could mix spray two common gold paints it was an exact match.

I bought several domino sets at a game shop and found the same poker chips and sprayed them all up. I made about as much money more as they had to begin with the prior year and I was ready.

When casino day came, I was there early and my first bought was towards the neat prizes. so I bid early and won whatever I wanted. I even bid on one thing I didn't want, because a wife of a frat leader was bidding on it. (This was foolish since it drew attention, but I loved her expression when she lost the bid, I bid her out of money! Like, "This isn't supposed to happen, we have all the money!" it was really cool. Then, wiht confidence, I pushed my hat back and started to work. (I was dressed like a texas oil man with cowboy hat. Iwent to every table, handing out tips and betting high, real high and loosing a lot and sinning some, and my stack grew higher and higher as I pulled more out of the pockets, everyone else thought I was extremely lucky.

Betting high and moving money is a geat cover if you are inflating the money system. I knew all the table chiefs knew I was a big better so they didn,t question my pockets full of money. They just assumed I was an exceptional gambler, which I was, I made the money the same way the bankers made it, I stole it.

Very intersetingly, the women began to come to ME! This was unexpected totally. Me who was insecure and had trouble getting a date had three of the most beautiful women following me around. I thought this was cool. I bought them drinks and gave them hands ful of mone y to go bet. Tips for being "mine". I was amazed.

The money is not power, the results of money is the power, I was dressed to kill in cowboy fancy clothes like a texas oilman. It was great when I saw a beautiful chick next to a stud, I siddled up gave tips and played hot and won more than he and shoved a tip and I would just stack more on the table as I lost and it looked like I won (No one kept count!) all they saw was lots of betting and my large stacks. And the girl follopwed ME! She knew who would give her an intersting evening. This is when I grew up and understood that life is a big game, and the bluff wins.

I burned through so much money so fast you could call me enron. I had to go out and come in many times with my pockets bulging.

The fraternity leaders werent getting the hot dates this year and everyone noticed me soon which was unexpected so I was limited in my money laundering efforts and I had to cut back, but no matter, the first effects still made me a chick babe magnet. So I couldnt even go in and out any more, wihtopu them eyballing me, and when one guy confronted me wondering why I went out all the time, and he asked me. And I looked at him and said "Fresh air" And I knew he knew and I knew that he knew that I knew, and I knew there was nothing he could prove or do about it. That was real power. From fake gold dominoes to real people controlling power in one easy evening, that is power.

I knew it was time to cool it, or they would limit me. No one questioned me because my status was extremely high and they would look like jerks falsly accusing me.. and they knew it. Now that is power. Them knowing what I know and me knowing they couldn't do anything about it. Kind of like GW.

By this time all the prizes were bought up and I outbid the cool donated prizes that the wives of these frat guys were always given , they did it to get the (nice) donated prices by local businesses. I remember one bid, I didn't even want it, but some lady was bidding on it and I just wanted her to loose. She bid so high I knew she was getting the chips from her frat hubby (would have cost 200-300 real dollars) but I just out\bit her. she lost the bid. That was a super sweet moment, I felt like Robbin Hood sticking it to the sherrif's wife. Nice.


I see now money is nothing, it is relative money that changes your STATUS it SURELY DOES.
It was INTOXICATING, I was a power broker, this was a real deal here, because to do what I did I would have had to have LOTS of money and the chicks knew it.

I just want to say, Sheap women are money magnets. When you go broke they disappear. but shoot, give them tips and they do their slut thing. Use 'em up and throw them out. the good ones would be at home, these kind take them while you can. Kinsd of like a dog, give them treats and they follow you everywhere.

Now, I do not advise a criminal lifestyle, in fact I posted this to say, I have to say sorry. I would not do it again, it actually, was stealing and if you are a frat brother whom I outstole, I am saying sorry! But then I would say, serves you right though. LOL.

(Doesnt change the fact they got what they deserved. That weekend I watched "the outlaw Jose wales" when it hit the theaters, and I was complete, one of the best nights of my life.

Yes I understand money. Fake worthless gold tinsel that night CHANGED MY STATUS for the rest of the school years, I was an elite, all girls knew it. Isn't it amazing ? Same thing with our paper, which is junk. As long as everyone wants it, power brokers will exist, and theives will exist and banker/inflaters will be there to pork the most beautiful sluts.

spray paint gave me power.
HA HA HA HA.

Anyway, I know now why these PTB are doing this.
They are asholes theives.

Banks exist for one reason, and that is to MAKE A DIFFERENCE in the sea of people and to give power (not money) to give power to a few thieves and robbers so they can have social power and beautiful women, and have the majority of the honest people be beaten into slavery. That is it.

Don't you wished you were me? I still get tempted to go back to there some casino night, but now I would be unprotected. Back then the crowd loved me and an accusation would bring down the accuser. Now, no one would know me, and they would just walk up and throw me out.

Sweet P.S., as I left I noticed they had WAY more chips and dominoes than would fit in the boxxes that they came in! And I never went back. And I know they all knew who did what afterward, and they still respected my knowledge of power after that, some say that was slick.


HA ha ha serves them right, those elite thieves were outthieved.

ahem.
Sorry, I apologize.

:)
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