|
|
many Retailers in Big Trouble........
01-23-2009, 09:53 AM
|
#1
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
|
many Retailers in Big Trouble........
The LAST sentence of paragraph 5 is priceless:
http://finance.yahoo.com/family-home...t-Shop-in-2009
here's the quote:
"I don't think we will live the same way for 10 years," says Howard Davidowitz, chairman of New York-based retail consultant and investment bank Davidowitz & Associates. "People are so scared they're starting to save."
__________________
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.........:)
|
|
|
|
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!
|
01-23-2009, 10:18 AM
|
#2
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2006
Location: Collin County, TX
Posts: 9,294
|
Quote:
Originally Posted by FinanceDude
"People are so scared they're starting to save."
|
Ohhhhh....the horror!
__________________
There's no need to complicate, our time is short..
|
|
|
01-23-2009, 10:33 AM
|
#3
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
|
I think just about everyone agrees that in the long run, changing consumer behavior to spend less, borrow less and save more is a positive development.
The problem is that we've stopped a speeding freight train by slamming it into a brick wall rather than with a gradual application of the brakes.
Ideally the "velocity of money" would slowly but surely decrease to avoid an economic shock, but it has come screeching to a halt more quickly than is good for the economy.
__________________
"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)
|
|
|
01-23-2009, 11:15 AM
|
#4
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2006
Location: Collin County, TX
Posts: 9,294
|
I guess my point is, anyone that has to be "scared" into saving horrifies me.
__________________
There's no need to complicate, our time is short..
|
|
|
01-23-2009, 11:37 AM
|
#5
|
Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,474
|
That article is sure depressing! They mention Sears/K-Mart, Eddie Bauer, Zales, and Sprint as possibly going under next, now that Circuit City, Linens'N'Things, and Mervyns are closing.
FOOEY!!!
Figures. I'm about to retire and will soon have plenty of TIME to shop, so now all the good stores are closing. I really don't enjoy fighting my way through Wally World that much.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
|
|
|
01-23-2009, 12:12 PM
|
#6
|
Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,589
|
I disagree
There are four things you can always count on here in the good old USA
Mom
Apple Pie
People spending money
Stores everywhere
Things look grim now, but as soon as there is a whiff of recovery they're going to build more malls and open more stores and there will be more sales. I think people will put off their retirement if need be, if that lets them buy more stuff today.
10 years saving and not spending? Hardly.
People will need to dragged kicking and screaming to save, and even then they will only save the minimum and do so when absolutely necessary. This is the defining characteristic that separates US from Europe (not UK) - they prefer to work less and spend less, we much prefer to work more to spend more.
Spending and having and buying and shopping is part of the cultural fabric of this society and this little recession (well, maybe not so little) ain't gonna change that.
Michael
|
|
|
01-23-2009, 12:15 PM
|
#7
|
Recycles dryer sheets
Join Date: Aug 2007
Posts: 433
|
Quote:
Originally Posted by ziggy29
The problem is that we've stopped a speeding freight train by slamming it into a brick wall rather than with a gradual application of the brakes.
|
Some of us were urging that the train never be allowed to go up to such a ruinous velocity in the first place.
A little pain spread over, say, the last decade, would have been vastly preferable to the disaster we're facing now.
I'm going to miss Circuit City and probably Sears too.
Any of you kids remember Montgomery Wards?
__________________
Consult with only myself as your adviser or representative. My thoughts should be construed as investment advice of the highest caliber. Past performance is but a pale shadow and guarantee of even greater results in the future.
|
|
|
01-23-2009, 12:41 PM
|
#8
|
Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 2,610
|
|
|
|
01-23-2009, 01:03 PM
|
#9
|
Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 4,898
|
Oh no! Not Eddie Bauer! I also read that J.Jill is for sale and likely to close. Those are the only stores I shop. I guess I won't be updating my wardrobe much in the future. Oh well.
Also, on the topic of Americans being hard wired to shop. Never underestimate the phenomenon of cultural change. My example -- look at the changes that happened from the 1950s through the 1960s! Mind boggling! We are in a similar cultural/financial upheaval.
|
|
|
01-23-2009, 01:40 PM
|
#10
|
Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
|
Quote:
Originally Posted by Oldbabe
Oh no! Not Eddie Bauer! I also read that J.Jill is for sale and likely to close. Those are the only stores I shop. I guess I won't be updating my wardrobe much in the future. Oh well.
.
|
Say it isn't so . JJill has my favorite clothes . They are the only store I have found that caries great clothes for mature but still hip women . I'm going to have to stock up before they close .
|
|
|
01-23-2009, 04:15 PM
|
#11
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
|
I stopped into the local Circuit City store today. There was a big sign outside trumpeting their going out of business sale. Inside stuff was just 10 to 30 % off, mostly 10%. Back to Craigslist.
|
|
|
01-23-2009, 04:17 PM
|
#12
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
|
Quote:
Originally Posted by travelover
I stopped into the local Circuit City store today. There was a big sign outside trumpeting their going out of business sale. Inside stuff was just 10 to 30 % off, mostly 10%. Back to Craigslist.
|
And some of the stuff probably had its "regular price" hiked before taking the discount.
__________________
"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)
|
|
|
01-23-2009, 04:21 PM
|
#13
|
Thinks s/he gets paid by the post
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,635
|
Quote:
Originally Posted by ziggy29
And some of the stuff probably had its "regular price" hiked before taking the discount.
|
You got it right! This is a pretty clear article: 'Out-of-business' sales: What really happens - Jan. 23, 2009
__________________
Vietnam Veteran, CW4 USA, Retired 1979
|
|
|
01-23-2009, 04:23 PM
|
#14
|
Moderator Emeritus
Join Date: Sep 2007
Posts: 17,773
|
Good point! Ladies, let's get us to J Jill --the sales today will be better BEFORE the store declares bankruptcy!
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
|
|
|
01-23-2009, 04:28 PM
|
#15
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,037
|
Quote:
Originally Posted by barbarus
...and probably Sears too.
Any of you kids remember Montgomery Wards?
|
We just bought a toolchest/drawer top set and full mechanic's tool set from Sears. I hope they survive. Craftsmen tools rule!
I worked for Montgomery Wards as a small engine mechanic, then as a hardware and paint dept clerk, right out of college in 1980. They were the only store who would hire me, an out of towner. I missed them greatly when they closed up shop years later.
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
|
|
|
01-23-2009, 04:56 PM
|
#16
|
Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
|
Quote:
Originally Posted by Bestwifeever
Good point! Ladies, let's get us to J Jill --the sales today will be better BEFORE the store declares bankruptcy!
|
I'm going on a jaunt next Tuesday to the JJill store in St. Pete .. I'll get to try out my new gps and stock up . I love their knot button shirts ,the crossover tees and the relaxed cardigans .
|
|
|
01-23-2009, 05:10 PM
|
#17
|
Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 4,898
|
Quote:
Originally Posted by Moemg
I'm going on a jaunt next Tuesday to the JJill store in St. Pete .. I'll get to try out my new gps and stock up . I love their knot button shirts ,the crossover tees and the relaxed cardigans .
|
Around Christmas I bought two sweaters at 40% off the sale price! Don't be fooled by the sale prices at the online site. They're still too high. Happy shopping!
|
|
|
01-23-2009, 06:57 PM
|
#18
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Posts: 12,598
|
Oldbabe wrote...Around Christmas I bought two sweaters at 40% off the sale price! Don't be fooled by the sale prices at the online site. They're still too high. Happy shopping!
I agree with Oldbabe....went shopping at T'giving and after Christmas and was NOT impressed by the "bargains" in any of the stores. I make some of my clothing--get a much better fit that way, and can use better fabric, cool buttons and trims, etc.
By the way, Oldbabe, is your avatar a picture of you? The lady really rocks white hair!
Amethyst
|
|
|
01-23-2009, 07:43 PM
|
#19
|
Thinks s/he gets paid by the post
Join Date: Oct 2008
Location: Naples
Posts: 2,179
|
One thing you can count on in this economic nightmare is that there will be more people out there trying to take your money--by hook or by crook. Just read the other day about how the crime rate has risen. More people are carrying guns for protection. Be on guard, whereever you go.
|
|
|
01-23-2009, 07:50 PM
|
#20
|
Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,474
|
Quote:
Originally Posted by JOHNNIE36
One thing you can count on in this economic nightmare is that there will be more people out there trying to take your money--by hook or by crook. Just read the other day about how the crime rate has risen. More people are carrying guns for protection. Be on guard, whereever you go.
|
Guns have always been very common in New Orleans. Interestingly, local gun stores say that their sales have been up.
There's something for people to invest in - - firearms manufacturers.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|