Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Another one bites the dust.
Old 11-10-2008, 09:38 AM   #1
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
Another one bites the dust.

Circuit City, not surprisingly, filed chapter 11 bankruptcy. Circuit City files for bankruptcy protection: Financial News - Yahoo! Finance
__________________

__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-10-2008, 09:54 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by Martha View Post
Circuit City, not surprisingly, filed chapter 11 bankruptcy. Circuit City files for bankruptcy protection: Financial News - Yahoo! Finance
I am amazed they made it this far. Perhaps the most inept management outside of the doemstic automakers.

HOW could they NOT make money the past decade selling big screen TVs, iPods, surround sound stereos GPS, etc?? :confused::confused::confused:

Best Buy just got millions of new customers......
__________________

__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 11-10-2008, 11:19 AM   #3
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,850
I bought my camera from them online, and got a "$15 off of any $100+ purchase from Circuit City" coupon along with the camera.

Sounds like it might be worthless soon.

The camera was cheap and arrived in perfect shape, very quickly. I like Circuit City so this is not happy news to me.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 11-10-2008, 11:23 AM   #4
Thinks s/he gets paid by the post
 
Join Date: Dec 2007
Posts: 4,764
Hmm planned on looking at video cameras there this week. Guess I wont be buying their warranty plan
__________________
Notmuchlonger is offline   Reply With Quote
Old 11-10-2008, 11:35 AM   #5
Thinks s/he gets paid by the post
OAG's Avatar
 
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,598
They went chapter 11 - so they will be around for a while yet. If you are near a store that is closing there will be pretty good discounts from what is currently at that location.

They did this to stiff their vendors out of payments for stock received before today and to be able to renege, without penalty, on current leases (where the stores are closing).

IMO they will actually "go away" and convert to chapter 7 or, and this is a long shot, sell the name after the first of the year.
__________________
Vietnam Veteran, CW4 USA, Retired 1979
OAG is offline   Reply With Quote
Old 11-10-2008, 12:56 PM   #6
Thinks s/he gets paid by the post
 
Join Date: May 2008
Posts: 2,259
Too bad... I liked Circuit City and I chose to go there before any other electronic stores because they were never too busy....
__________________
tmm99 is online now   Reply With Quote
Old 11-10-2008, 01:07 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by tmm99 View Post
Too bad... I liked Circuit City and I chose to go there before any other electronic stores because they were never too busy....
Maybe that's why they are now out of business??
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 11-10-2008, 02:25 PM   #8
Thinks s/he gets paid by the post
 
Join Date: May 2008
Posts: 2,259
Quote:
Maybe that's why they are now out of business??
Exactly.
I hate busy stores, but the ones that are not seem to go away.
__________________
tmm99 is online now   Reply With Quote
Old 11-10-2008, 03:24 PM   #9
Thinks s/he gets paid by the post
 
Join Date: Oct 2005
Posts: 4,898
They had (have) a really good return policy which I took advantage of after buying a digital flat screen one time that didn't live up to my expectations. Now they've extended the return period through Jan. 31.
In-store returns-Returns & Exchanges-circuitcity.com

But Circuit City laid off most of its experienced sales force and replaced them with new part timers. They mostly ignore me when I go to the store. Recently I was buying a router and a sales guy asked if he could help. When I said no, he looked relieved. Guess he didn't know that much about routers.
__________________
Zoocat is offline   Reply With Quote
Old 11-10-2008, 05:12 PM   #10
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Location: North of Montana
Posts: 2,753
Quote:
Originally Posted by Oldbabe View Post
Guess he didn't know that much about routers.
Pretty common actually. The other day Home Depot advertised a sale on routers and the sales guy didn't know if it supported DHCP. :confused:
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
kumquat is offline   Reply With Quote
Old 11-10-2008, 07:15 PM   #11
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Quote:
Originally Posted by kumquat View Post
Pretty common actually. The other day Home Depot advertised a sale on routers and the sales guy didn't know if it supported DHCP. :confused:
Depends on what bit size you're using...
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 11-10-2008, 11:15 PM   #12
Recycles dryer sheets
 
Join Date: Jun 2007
Posts: 118
I agree that Circuit City will likely end up in Chapter 7 as that is the fate of most businesses that first file under Chapter 11. The rationale for filing Chapter 11 for many businesses is that it gives the business (as the debtor in possession) the opportunity to liquidate itself while under the protection of the bankruptcy court. This is often viewed as more favorable than simply walking away and having a court appointed trustee liquidate the business. I regret seeing Circuit City go under -- some healthy competition is always nice.
__________________
Geoffrey is offline   Reply With Quote
Old 11-10-2008, 11:20 PM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
Well I'm glad I didn't get the extended warranty on the TV I bought at Circuit City, even after they cut the price a lot. I never never buy these things, but in a moment of weakness I got one last year for new printer I bought at CompUSA.

Yet another example on why one shouldn't buy insurance on things that you can easily afford to replace.
__________________
clifp is offline   Reply With Quote
Old 11-11-2008, 07:05 AM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
harley's Avatar
 
Join Date: May 2008
Location: Following the nice weather
Posts: 6,422
My cousin used to work for them, and he told me they didn't really care what you sold as long as you sold the extended warranty for it. Personally I've never liked the chain. I'm not an electronics whiz but I never once worked with a salsman that knew as much as me about whatever I was looking at. I mean, jeez, if I was working in a toy store I'd at least play with the toys so I could explain what they did to the customers. Good riddance, say I.

I did hear on the radio that they are asking permission to continue to honor the $62M in gift cards that are out there floating around. It will be interesting to see if the courts let them pay back unsecured debt at a cost to their corporate creditors. I'm betting no.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Will Rogers, or maybe Sam Clemens
DW and I - FIREd at 50 (7/06), living off assets
harley is offline   Reply With Quote
Old 11-11-2008, 07:07 AM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
harley's Avatar
 
Join Date: May 2008
Location: Following the nice weather
Posts: 6,422
Quote:
Originally Posted by clifp View Post
Well I'm glad I didn't get the extended warranty on the TV I bought at Circuit City, even after they cut the price a lot. I never never buy these things, but in a moment of weakness I got one last year for new printer I bought at CompUSA.

Yet another example on why one shouldn't buy insurance on things that you can easily afford to replace.
My last 2 printers were free after the rebates. I never even bought an ink cartridge for the first one. Just gave it away and got a new one. Better than insurance.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Will Rogers, or maybe Sam Clemens
DW and I - FIREd at 50 (7/06), living off assets
harley is offline   Reply With Quote
Old 11-11-2008, 02:43 PM   #16
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,612
Quote:
Originally Posted by tmm99 View Post
Too bad... I liked Circuit City and I chose to go there before any other electronic stores because they were never too busy....
Maybe they weren't busy because others, like me, refused to shop there after they fired a bunch of better-paid employees to hire a bunch of flunkies at or near minimum wage.

Good riddance.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 11-12-2008, 02:29 AM   #17
Recycles dryer sheets
whitestick's Avatar
 
Join Date: Apr 2005
Posts: 415
Quote:
Originally Posted by ziggy29 View Post
Maybe they weren't busy because others, like me, refused to shop there after they fired a bunch of better-paid employees to hire a bunch of flunkies at or near minimum wage.

Good riddance.
That is exactly the reason that neither DW nor myself has set foot in their stores since that happened. She because of moral indignation, me because of the lousy service to customers that I expected would happen after that. Unfortunately, their management team will try and spin this to complain about the credit, or the economy or some other BS reason, when the real reason is their own greed and indifference to their customers.

I agree "Good riddance". Maybe some other management team will recognize a need for delivering a personal touch with the product, rather then hanging a shrink wrapped box on the shelf and letting the customer fend for themselves.
__________________
Mens ability to see the future is limited by their horizons of today!
Unknown!
whitestick is offline   Reply With Quote
Old 11-12-2008, 06:53 AM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,717
Send a message via Skype™ to kcowan
I have had good experience with The Source. Bought my digital camera there (better price than online delivered). Bought my satellite receiver there. Great service. Although not expert, they were willing to dig around and find answers.
__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Old 11-12-2008, 04:44 PM   #19
Thinks s/he gets paid by the post
Rustward's Avatar
 
Join Date: Apr 2006
Posts: 1,572
Quote:
Originally Posted by ziggy29 View Post
. . .they fired a bunch of better-paid employees to hire a bunch of flunkies at or near minimum wage.
Does anybody remember when this happened? I noticed the quality of service decline over time but don't go there often enough to remember when that happened.
__________________
Rustward is offline   Reply With Quote
Old 11-12-2008, 04:52 PM   #20
Moderator Emeritus
Bestwifeever's Avatar
 
Join Date: Sep 2007
Posts: 16,373
And troubles for malls in general:

No. 2 mall operator warns of bankruptcy - Nov. 11, 2008
__________________

__________________
Bestwifeever is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Two More Banks Bite the Dust OAG FIRE and Money 43 09-08-2008 07:22 PM
Unidentified Bug Bites tangomonster Health and Early Retirement 29 08-31-2008 08:27 PM
The dust begins to settle... cute fuzzy bunny Other topics 13 06-08-2008 10:03 AM
Now that the dust has settled... cute fuzzy bunny Other topics 12 01-20-2006 05:22 PM
Another one bites the dust MRGALT2U Life after FIRE 12 03-16-2005 03:45 AM

 

 
All times are GMT -6. The time now is 12:57 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.