Posted on 11/12/2008 11:26:12 AM PST by 2ndDivisionVet
I drove through a shopping center with closing Linens and Things and a Circuit City, and it made me further realize that we are in deep, deep trouble right now.
http://www.freerepublic.com/focus/f-news/2130810/posts
Well, hells bells. Guess we have to go to Walmart and Best Buy to find the chinese made crap.
Doesn’t world’s richest man, Mexican national Carlos Slim, own the majority interest in CC?
If Circuit City is dependent upon Holiday Sales, it’s curtains. Holiday Sales this year may be the most dismal in 40 or 50 years.
Do what Cincinnati might do and turn them into police stations! Great locations for Obama’s new “security forces.”
Police May Take Over Vacant Circuit City Building
http://www.local12.com/news/local/story.aspx?content_id=db2e33d5-df9f-43d0-8ce4-7f0e6ad88867&rss=30
If so, he may not be the world's richest man for very much longer.
Big deal; this happens even if an anchor store moves to a better location in town, which happens quite often in my town. My problem is that it creates blight—the unused building with “acres of free parking” become a magnet for bums and other undesirables and consumes acres of real estate that could be used for better use.
The company that owns several malls in the Orlando area is near bankruptcy..and they have zero Circuit City stores...
The CC bankruptcy will put more shopping center/mall owners under
Must be insiderspeak for "no way in hell."
Bailout for the landlords!.........
Circuit City is curtains anyhow.
In bankruptcy, they really will have a hard time selling the warranty/service plans on their electronics. The warranties are what has the highest margins, not the products themselves.
Nah - biggest holder is HBK Investment in Dallas with 9%. It’s mostly held by mutual funds and Institutional investors, tho’ Mark Wattles, CEO of Ultimate Electronics owns 6.5%. Slim doesn’t show up, but there could be an investment vehicle of his in there.
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Obama's fault.
These are called “triple net leases” and they are an excellent investment (usually), but you have to be a “big guy” in order to have the funds to do it.
You said — “I drove through a shopping center with closing Linens and Things and a Circuit City, and it made me further realize that we are in deep, deep trouble right now.”
You bet we’re in big trouble. The only good thing about that is that it will serve to put some constraints on the NObama administration, because when the whole country is collapsing because of the financial crisis, NObama will be really tied up in those issues, primarily. This will prevent Congress from going very “wild” with a lot of the kinds of programs that NObama would want, otherwise.
Last year, about this time, I stood in line to get a laptop computer that was on sale, on Thanksgiving Day, at a major electronics retailer. I got the good deal — but — they went out of business within a month from that date, before Christmas even got around.
Now, here we’ve got a bankruptcy going with another major electronics retailer, just a year later, and this is *leading into* the highest selling time of the year for them. If they couldn’t hold out until later, it must be really serious for them.
I would say that the “Great Depression” is going to *hit hard* next year — 2009. Look for it then, after the disappointing result from the Holiday Season comes in. Look for many different companies going into bankruptcies and many jobs being lost.
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