another one bites the dust

United States
January 16, 2009 10:57am CST
Well everyone knew Circuit City was in trouble and has been for a while. they are now closing all their stores permenately. Circuit city is going out of business. Just the newest business to go under. There has been along list of them. Well anyone looking for good electronic deals better head out to your local CC before they close. Retailers are getting hit hard. A lot of htem are going under. What you think about this situation?
2 people like this
9 responses
@Arkie69 (2156)
• United States
16 Jan 09
If they don't stop the unemployment rate from increasing you are going to see a lot more of them go under too. If the unemployment trend continues any company that doesn't sell something we can't survive without will be in danger of going under. I have said this over and over and no one would pay any attention. For some time now far too much of our economy was being supported by junk items. By junk I mean anything we really don't have to have to survive. I said at some point we were going to get into a situation where we won't be able to afford all the junk and it will crash our economy. That is exactly what you are seeing right now. We are a long ways from the bottom of this thing. We are in an endless circle that is steady growing and feeding on it's self. Every job that is lost simply means less money going into our economy. Less money going into our economy means more jobs lost. There is only one possible cure for our sick economy and that is to create jobs and a lot of them. Obama said that is what he would do in fact 3 million jobs but he won't be allowed to do that. You just mark that down in your little book. Art
1 person likes this
• United States
16 Jan 09
why won't be allowed to create 3 million jobs? Democrats control the house and senate so if they want something passed they can do it. What gets me is the fact that we are bailing out the big boys ....but not the average person. The rich are getting to keep their jobs while the average joe is lossing his. And we are bailing out the rich with tax payer money. The government needs to be taxing us less so that we are keeping more of our money to spend in the ecomony and to help the average person survive better in these times. We are having to tighten our belts so the government should too. Yet they just keep spending money like it is going out of style. our money I might add, running up debt we are going to have to pay off.
3 people like this
@Arkie69 (2156)
• United States
16 Jan 09
You are correct on all points. Something screwy is going on in Washington that we can't see. Someone is working to cause our economy to crash. If Obama was to create 3 million blue collar jobs it would stop the crash of the economy and this will not happen. There is another thing we can't see. A large percentage of the People in Washington are on the take. They grab every dollar they can get their hands on. A lot of this money that is going to bail out big business is coming back to them under the table. When you are talking about billions of dollars it is real easy for a few million to come up missing. Art
1 person likes this
@Arkie69 (2156)
• United States
16 Jan 09
PS; The government will put on a good show and do a lot of talking but they will not stop this crash. There is a bright side to this though. The longer it takes for this crash to happen the better it will be for the little man. The demand for consumer goods is falling fast. People simply can't afford to buy all the junk. This creates competition between the retailers and they are forced to lower their prices to make enough sales to stay in business. A lot of them won't be able to stay in business. Keep in mine every time a price falls the dollar gains value. What little money we do have will buy a lot more than it will now. Art
1 person likes this
@relundad (2311)
• United States
16 Jan 09
They have already closed most of them in GA. Before Christmas actually. They were also exposed here for "saying" that they were giving closeout prices and actually they were shown under investigation to have actually increased the prices over the "before" price! They showed that after the supposedly discounts that some customers had paid more than the original retail price. Circuit City officials claimed that it was not their doing. What they said is that when a store is closing they turn it over to a liquidator and their job is to make as much money for the company as possible and to get rid of as much merchandise as possible. I didn't know this and was surprised to hear it. I am sure there are alot of people that buy at these type sales and automatically assume they are getting a good deal. But if you haven't done your research in advance you could end up paying more.
1 person likes this
• United States
16 Jan 09
very true...people will have to know what prices are good a deal BEFORE they go. But they will have to sell things at a loss just to get rid of them.I have a friend that worked for them years ago that did a store closing for them years ago (they have been closing stores for years (5) now) and he said if you want something talk to the managers....they will negotiate the prices with you. I have been wanting a lap top so I may check and see if I can find a good deal on one. But you better believe I will check out the prices before I buy it.
1 person likes this
@relundad (2311)
• United States
18 Jan 09
Most people automatically assume that it has to be the best price since they are going out of business. Its so funny because you will go in and they are at say 20@ off as the savings should get greater as the time goes on and the store is literally empty because people have grabbed up everything, thinking it has to be lowest price available.
@spalladino (17924)
• United States
16 Jan 09
I'm not surprised. The more people who lose their jobs, the less people there are in the stores spending money on things they don't really need, but want. I'd like to upgrade my digital camera but not in this economy. The smaller stores can't compete with the big chains like Walmart and, even there, I've noticed the parking lot is less full than it was before Christmas. I've been watching prices creep up at my local grocery store lately so I'm back to shopping at the Walmart Super Center again, even though I gave it up when gas prices were so high.
1 person likes this
• United States
17 Jan 09
As John Stewart puts it... cluster%#$* to the poor house.
@murderistic (2279)
• United States
17 Jan 09
Circuit City's liquidation sale starts today, I'm about to go check it out. My computer's a/c adapter blew a fuse (it was quite scary and involved smoke) and I'm hoping I can get a new one for cheap. If anyone has any gift cards for circuit city use em asap, you won't be able to get anything for it when Circuit City closes.
• United States
18 Jan 09
Yep anyone with gift cards....use them NOW. Watch out for the sales. The news is saying that CC hired professional liquidators so the prices will not be as good of a deal as they make them out to be. I guess that plan just backfired on CC comparing CNN just did a big story on it.
• United States
17 Jan 09
This news really saddended me. I have always enjoyed shopping at Circuit City, and they have done very well by me in the past as a customer. What is even more saddening is all of the people that are going to be out of jobs. The economy is suffering enough without more people being laid off. It's just terrible news. I hope the economy turns around soon.
• United States
18 Jan 09
It will only get worse before it gets better. I think it will take about 8-10 years to recover from this one.
• United States
19 Jan 09
Yes, I agree that it will probably get worse before it gets better, and that it will take a while for it to get better, but I'm still holding out hope that I'll be proven wrong. I'm keeping my fingers crossed and taking one day at a time.
@Jezebella (1446)
• United States
4 Feb 09
There are a lot of businesses going under like you said. I have thought of going online and seeing what kind of deals on a laptop I could find before I move out of my house. There are a lot of businesses going under...Border's Bookstores are struggling too.
• United States
4 Feb 09
It is a good time to get deals. Just be careful. alot of companies "going out of business" are marking prices up then doing a sale to make the prices look better than they really are.
@Sissygrl (10915)
• Canada
17 Jan 09
We have those in canada.. they took over a store called radio shack. . now they will dissapear too ? wow. I guess that's what happens when walmart starts selling electronics and computers :P
• United States
17 Jan 09
The Canadian Circuit City branch did not file bancrupty. You're good.
1 person likes this
@wkl0442 (46)
• United States
17 Jan 09
Circuit City dug their own grave. I purchased a notebook computer from them. They asked if I wanted an extented warranty. I questioned when the warranty started and was told that it started at the time of purchase. When I needed to use it, I was told that for the first year the manufactors warranty was in affect. Also I was told that I purchased a 3 year warranty. At the end of the second year I was contacted about extending the warranty because it was about to run out. I called CC and questioned why it was about to run out since I purchased a 3 year warranty. I was told that it was a 2 year warranty and the first year only covered the battery. I told them that I would never make a purchase from them again since their sales people lie just to make a sale. It seems that a lot of people are thinking the same way or they might not be going out of business.
• United States
18 Jan 09
ya I know a lot of people that have had problems with their extended warranty. From what I understood from a friend who worked there...the employees were required to sell so much of it or get fired. They would tell the customer what ever it took to get them to buy it and then the company would do whatever it could to not have to make good on it. Therefore the company got to keep the money as pure profit. They dug their own hole and now they are closing because of it. I do not think this one is due to the ecomony. Just bad business practices. But it will effect the ecomony when 30,000 people are out of work, on unemployment and not spending any money.
@anniepa (27240)
• United States
16 Jan 09
I think we're going to see a lot ore closings like this before the economy starts to turn around no matter what anybody does! It's going to be businesses like Circuit City and basically any other type of business that sells things that are actually "luxuries" rather than "necessities". People are obviously putting off buying that new electronic gadget or upgrading whatever electronics they already have. People are also shopping at discount department stores instead of the high-end expensive ones. When some people go out to eat - IF they can even afford to go out to eat at all - they're going to go to the cheaper places. We need to get people that are out of work BACK to work and we need to do something to restore the confidence of those who are working so they won't be afraid to spend their money. I don't have all the answers and I'm certainly not an economist but I like the idea of rebuilding our infrastructure which has been so neglected for so long. This will have a double-edged effect by creating good jobs and making the improvements that are so sorely needed. There are water main breaks all over the place every day and that's at least in part because they're so old and nobody can afford to repair or replace them. Same with our electrical grids and don't even talk about our roads and bridges. Basically, I think we all realize things are going to get worse before they get better but they'll get better faster and they'll get "less worse" if we can restore enough confidence to those that DO have some money for them to get out and buy stuff so there's more need for people to MAKE stuff and to help restore, distribute and deliver it. Annie
• United States
18 Jan 09
I am just a guilty as the rest for not spending money. Some of it is because even though gas prices dropped...food prices have not. WHy it is that? They blamed the increase on gas prices yet when the prices drop on gas the food prices do not go back down. So grocery bills are still eating up a large chunck of change.ALso with how unstable the ecomony is we are worried about hubby lossing his job (like so many other people) so we are trying to save as much as can so that if it happens we will still be able to pay our bills. It is going to get worse before it gets better so therefore we want to be prepared and have some money saved aside so we can make it through.