BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Circuit City Demise Leads to Gains for Best Buy, Walmart]]>http://www.bloggingstocks.com/2010/04/14/circuit-city-demise-leads-to-gains-for-best-buy-walmart/http://www.bloggingstocks.com/2010/04/14/circuit-city-demise-leads-to-gains-for-best-buy-walmart/http://www.bloggingstocks.com/2010/04/14/circuit-city-demise-leads-to-gains-for-best-buy-walmart/#commentsFiled under: , ,

In a stunning (well, not really) report from NPD, retailers Best Buy (BBY) and Walmart (WMT) were the big winners in picking up market share for consumer electronics when former retailer Circuit City shut its doors over a year ago. Although internet retailer Systemax bought the Circuit City intellectual property, the name Circuit City is mostly seen in promotional, closeout-type emails and that is it.

Continue reading Circuit City Demise Leads to Gains for Best Buy, Walmart

Circuit City Demise Leads to Gains for Best Buy, Walmart originally appeared on BloggingStocks on Wed, 14 Apr 2010 16:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BBYBest BuyCircuit CityCircuit City bankruptcycircuit city storesinthenewsWal-MartWMTWed, 14 Apr 2010 16:00:00 EST<![CDATA[Best Buy Outpaces Rivals in Electronics Sales]]>http://www.bloggingstocks.com/2009/12/28/best-buy-outpaces-rivals-in-electronics-sales-for-last-quarter-o/http://www.bloggingstocks.com/2009/12/28/best-buy-outpaces-rivals-in-electronics-sales-for-last-quarter-o/http://www.bloggingstocks.com/2009/12/28/best-buy-outpaces-rivals-in-electronics-sales-for-last-quarter-o/#commentsFiled under: , , , ,

Best Buy (BBY) was the big winner in this year's fourth quarter. It took the lion's share of consumer electronics sales after competitors Circuit City and CompUSA shut down earlier in the year.

No doubt, there was enhanced competition from mega-retailer Wal-Mart (WMT) and online behemoth Amazon.com (AMZN). But Best Buy managed to nip at customer heels with deep discounts on flat-panel televisions and laptop PCs that just weren't seen at the competition (yes, I looked). Laptops for $299 and 32" flat-panel TVs for $249 are probably loss leaders by a big margin -- but those prices make a dent on consumer psychology.

Continue reading Best Buy Outpaces Rivals in Electronics Sales

Best Buy Outpaces Rivals in Electronics Sales originally appeared on BloggingStocks on Mon, 28 Dec 2009 10:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>amznBBYBest BuyBestBuyCircuit CityCircuitCityinthenewsNewEggRadio ShackRadioShackrshwmtMon, 28 Dec 2009 10:30:00 EST<![CDATA[Can Best Buy revenue soon match huge gains in market share?]]>http://www.bloggingstocks.com/2009/09/16/can-best-buy-revenue-soon-match-huge-gains-in-market-share/http://www.bloggingstocks.com/2009/09/16/can-best-buy-revenue-soon-match-huge-gains-in-market-share/http://www.bloggingstocks.com/2009/09/16/can-best-buy-revenue-soon-match-huge-gains-in-market-share/#commentsFiled under: ,

Best Buy Inc. (NYSE: BBY) has been the subject of media speculation since the first quarter implosion of now-defunct retailer Circuit City. Billions of consumer electronics revenue dollars needed to go somewhere, after all. Based on Best Buy's most recent quarterly results, revenue dollars aren't just spilling into its coffers, even as the default market share gain from Circuit City went nuts last quarter. Will it continue?

All indications point to yes. Best Buy is the lone nationwide big-box consumer electronics retailer that is making all kinds of cutting-edge moves to remain relevant as its products and customers change. The theory around Best Buy's revenue drop in the last two quarters centers on more consumer electronics business going to mass retailer Wal-Mart Stores Inc. (NYSE: WMT), where customers have been taking refuge from the economic storm in the U.S. since last fall. Can Wal-Mart really compete head-to-head for dedicated consumer electronics customers once the money fog lifts as it is starting to do?

Continue reading Can Best Buy revenue soon match huge gains in market share?

Can Best Buy revenue soon match huge gains in market share? originally appeared on BloggingStocks on Wed, 16 Sep 2009 13:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BBYBest BuyBest Buy market shareCircuit CityfeaturedinthenewsJim MuehlbauerWal-martWalmartWMTWed, 16 Sep 2009 13:00:00 EST<![CDATA[Best Buy should be interested in Circuit City's Firedog brand]]>http://www.bloggingstocks.com/2009/07/31/best-buy-should-be-interested-in-circuit-citys-firedog-brand/http://www.bloggingstocks.com/2009/07/31/best-buy-should-be-interested-in-circuit-citys-firedog-brand/http://www.bloggingstocks.com/2009/07/31/best-buy-should-be-interested-in-circuit-citys-firedog-brand/#commentsFiled under: ,

When Circuit City went out of business this past Spring, there really was not much left in its wake. Competitive retailers like Best Buy, Inc. (NYSE: BBY) and Wal-Mart Stores, Inc. (NYSE: WMT) really didn't take the billions per quarter of new business that Circuit City was booking right up until the end. Yes, it must have been that bad.

Continue reading Best Buy should be interested in Circuit City's Firedog brand

Best Buy should be interested in Circuit City's Firedog brand originally appeared on BloggingStocks on Fri, 31 Jul 2009 15:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BBYBest BuyBestBuycircuit cityCircuitCityFiredogGeek SquadGeekSquadSystemazFri, 31 Jul 2009 15:30:00 EST<![CDATA[Is Best Buy lonely at the top? Doubtful]]>http://www.bloggingstocks.com/2009/07/22/is-best-buy-lonely-at-the-top-doubtful/http://www.bloggingstocks.com/2009/07/22/is-best-buy-lonely-at-the-top-doubtful/http://www.bloggingstocks.com/2009/07/22/is-best-buy-lonely-at-the-top-doubtful/#commentsFiled under: ,

Now that Best Buy, Inc. (NYSE: BBY) is the last surviving member of the national specialty consumer electronics retail club, where can it go? Up and up. Sure, mass chains like Wal-Mart Stores, Inc. (NYSE: WMT) and others have stepped up to the plate and are greatly enhancing their consumer electronics sections, but then again Best Buy has a new CEO who is thinking differently and isn't going to give an inch if he can help it.

Continue reading Is Best Buy lonely at the top? Doubtful

Is Best Buy lonely at the top? Doubtful originally appeared on BloggingStocks on Wed, 22 Jul 2009 09:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BBYBest BuyBest buy salesBestBuyBestBuySalescircuit cityCircuitCitycompusaconsumer electronicsConsumerElectronicsInc.inthenewsWMTWed, 22 Jul 2009 09:30:00 EST<![CDATA[Commercial real estate vacancies surge above 12% in Manhattan]]>http://www.bloggingstocks.com/2009/07/17/commercial-real-estate-vacancies-surge-above-12-in-manhattan/http://www.bloggingstocks.com/2009/07/17/commercial-real-estate-vacancies-surge-above-12-in-manhattan/http://www.bloggingstocks.com/2009/07/17/commercial-real-estate-vacancies-surge-above-12-in-manhattan/#commentsFiled under: , , ,

This is not an abstraction: buildings large and small are showing gaping vacancies. Storefronts are empty. Entire buildings sit waiting to be occupied. In Manhattan, retail vacancies have reached their highest rates since 2001. For the second quarter of this year, vacancies hit the absurd height of 12.4%, thanks to unemployment trends that won't quit and consumers reluctant to pry open their wallets.

Retailers are being hit just like the residential market.

Continue reading Commercial real estate vacancies surge above 12% in Manhattan

Commercial real estate vacancies surge above 12% in Manhattan originally appeared on BloggingStocks on Fri, 17 Jul 2009 13:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>barnes and noblebarnes nobleBarnesAndNobleBarnesNoblecircuit cityCircuitCitycommercial real estatecommercial rentsCommercialRealEstateCommercialRentsinthenewsmanhattannew yorknew york cityNewYorkNewYorkCityrentrental marketRentalMarketrentalssohotimes squareTimesSquareupper east sideupper west sideFri, 17 Jul 2009 13:40:00 EST<![CDATA[Wal-Mart looks to expand electronics business]]>http://www.bloggingstocks.com/2009/05/18/wal-mart-looks-to-expand-electronics-business/http://www.bloggingstocks.com/2009/05/18/wal-mart-looks-to-expand-electronics-business/http://www.bloggingstocks.com/2009/05/18/wal-mart-looks-to-expand-electronics-business/#commentsFiled under: ,

Best Buy (NYSE: BBY) is widely assumed to be the biggest beneficiary of the downfall of Circuit City, but Wal-Mart (NYSE: WMT) is looking to crash that party. "Circuit City's business is up for grabs right now and we expect to get our share," Gary Severson, Wal-Mart's senior vice president of home entertainment, told (subscription required) the Wall Street Journal.

Companies like Nintendo and Apple (NASDAQ: AAPL) will get their own in-store displays, and Wal-Mart will also be revamping its electronics departments to create a more open and interactive Best Buy-like shopping experience. Wal-Mart has been trying to move upmarket in the consumer electronics business for years, and offering Palm's soon to be released Pre smart phone is another part of that strategy.

Continue reading Wal-Mart looks to expand electronics business

Wal-Mart looks to expand electronics business originally appeared on BloggingStocks on Mon, 18 May 2009 09:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BBYBest BuyBestBuyCircuit CityCircuitCityElectronicsinthenewsWal-MartWMTMon, 18 May 2009 09:30:00 EST<![CDATA[Is Best Buy making a Circuit City mistake?]]>http://www.bloggingstocks.com/2009/04/27/is-best-buy-making-a-circuit-city-mistake/http://www.bloggingstocks.com/2009/04/27/is-best-buy-making-a-circuit-city-mistake/http://www.bloggingstocks.com/2009/04/27/is-best-buy-making-a-circuit-city-mistake/#commentsFiled under: ,

Best Buy, Inc. (NYSE: BBY) won the war with defunct rival Circuit City. Circuit City's demise was based on so many fundamental pieces of mismanagement it was amazing the company lasted into 2009. Now that it is gone, Best Buy stands alone with the larger discount retail chains and online superstores as the places tens of millions of Americans shop for this consumer electronics.

Continue reading Is Best Buy making a Circuit City mistake?

Is Best Buy making a Circuit City mistake? originally appeared on BloggingStocks on Mon, 27 Apr 2009 15:50:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BBYBest BuyBest Buy staffingBestBuyBestBuyStaffingCircuit CityCircuitCityInc.inthenewsMon, 27 Apr 2009 15:50:00 EST<![CDATA[Earnings highlights: Best Buy, Walgreen, Tiffany, Research in Motion, KB Home and more]]>http://www.bloggingstocks.com/2009/03/28/earnings-highlights-best-buy-walgreen-tiffany-research-in-mo/http://www.bloggingstocks.com/2009/03/28/earnings-highlights-best-buy-walgreen-tiffany-research-in-mo/http://www.bloggingstocks.com/2009/03/28/earnings-highlights-best-buy-walgreen-tiffany-research-in-mo/#commentsFiled under: , , , , , , ,

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Continue reading Earnings highlights: Best Buy, Walgreen, Tiffany, Research in Motion, KB Home and more

Earnings highlights: Best Buy, Walgreen, Tiffany, Research in Motion, KB Home and more originally appeared on BloggingStocks on Sat, 28 Mar 2009 11:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>accentureACNBBYBest BuyCAGCarnivalCCLCircuit CityConAgraDRYSDryshipsDSWearningsGamestopGMEJabil CircuitJBLKB HomeKBHPaychexPAYXResearch in MotionRIMRIMMSimon PropertySONCSonicSPGTIFTiffanyWAGWalgreenWilliams-SonomaWSMSat, 28 Mar 2009 11:40:00 EST<![CDATA[Best Buy increases after several upgrades]]>http://www.bloggingstocks.com/2009/03/18/best-buy-bby-increases-after-several-upgrades/http://www.bloggingstocks.com/2009/03/18/best-buy-bby-increases-after-several-upgrades/http://www.bloggingstocks.com/2009/03/18/best-buy-bby-increases-after-several-upgrades/#commentsFiled under: , ,

Best Buy, Inc. (NYSE: BBY) is expected to take possibly 50% of the business that would have gone to former competitor Circuit City, with the other half being distributed among every other large retailer that sells consumer electronics. Due to that market share capture, the largest consumer electronics retailer in the U.S. saw its stock price upgraded more than a few times in recent weeks.

Continue reading Best Buy increases after several upgrades

Best Buy increases after several upgrades originally appeared on BloggingStocks on Wed, 18 Mar 2009 12:55:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BBYBest BuyBestBuyBrian DunnBrianDunnCircuit CityCircuitCityINcinthenewsWMTWed, 18 Mar 2009 12:55:00 EST<![CDATA[Circuit City sells its Canadian operations]]>http://www.bloggingstocks.com/2009/03/03/circuit-city-sells-its-canadian-operations/http://www.bloggingstocks.com/2009/03/03/circuit-city-sells-its-canadian-operations/http://www.bloggingstocks.com/2009/03/03/circuit-city-sells-its-canadian-operations/#commentsFiled under:

Bankrupt and in the process of liqudation, Circuit City hasn't had any good news in a long time. But the company's Candian operations will live to fight another day.

Bell Canada Enterprises has agreed to acquire the company's 750+ Canadian stores. As the largest phone company in Canada, Bell hopes that the stores, known as The Source by Circuit City, will help to increase its struggling market share numbers in mobile phones.

"The Source is a respected leader in consumer electronics retailing right across Canada," Bell Canada CEO George Cope said in a statement. "Its acquisition supports Bell's strategic imperatives."

Continue reading Circuit City sells its Canadian operations

Circuit City sells its Canadian operations originally appeared on BloggingStocks on Tue, 03 Mar 2009 07:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>CanadaCircuit CityCircuitCityinthenewsTue, 03 Mar 2009 07:00:00 EST<![CDATA[R.I.P., Circuit City]]>http://www.bloggingstocks.com/2009/03/02/r-i-p-circuit-city/http://www.bloggingstocks.com/2009/03/02/r-i-p-circuit-city/http://www.bloggingstocks.com/2009/03/02/r-i-p-circuit-city/#commentsFiled under: , ,

Circuit City Going Out of BusinessAhhh, Circuit City. Where service is state of the art! The chain of electronics retailers -- currently liquidating at a furious rate -- will be all but defunct as of Sunday, March 8. The "bulk" of the stores still left open are targeting this as their last day.

Although the chain very nearly ruined one of my favorite songs (The Cars' "Just What I Needed") by employing it as their jingle, I have a soft spot in my heart for the red-themed Big Box location. I frequented it long before Best Buy Co., Inc. (NYSE: BBY) was in my world, I bought my first laptop there, and it was my CD shopping destination of choice in the late 1990s. Thank you, Circuit City employees, for never laughing at my purchase of the latest from NSYNC, the Backstreet Boys, Mandy Moore, or others.

Continue reading R.I.P., Circuit City

R.I.P., Circuit City originally appeared on BloggingStocks on Mon, 02 Mar 2009 18:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>best buyBestBuycircuit cityCircuitCityelectronics retailersElectronicsRetailersliquidationMon, 02 Mar 2009 18:00:00 EST<![CDATA[Circuit City seeks to retain execs as it winds down]]>http://www.bloggingstocks.com/2009/02/13/circuit-city-seeks-to-retain-execs-as-it-winds-down/http://www.bloggingstocks.com/2009/02/13/circuit-city-seeks-to-retain-execs-as-it-winds-down/http://www.bloggingstocks.com/2009/02/13/circuit-city-seeks-to-retain-execs-as-it-winds-down/#commentsFiled under: ,

Circuit City Stores Inc. needs to entice some workers, managers and executives to stay with the company until it has completely liquidated all of its assets. In fact, the company this week asked a U.S. Bankruptcy Court judge to provide incentives to retain those exact folks -- for at least a little while. Would this matter? You decide.

Continue reading Circuit City seeks to retain execs as it winds down

Circuit City seeks to retain execs as it winds down originally appeared on BloggingStocks on Fri, 13 Feb 2009 10:15:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>CCCicruic city bankruptcyCicruicCityBankruptcyCircuit CityCircuitCityFri, 13 Feb 2009 10:15:00 EST<![CDATA[Circuit City Elementary School?]]>http://www.bloggingstocks.com/2009/02/05/circuit-city-elementary-school/http://www.bloggingstocks.com/2009/02/05/circuit-city-elementary-school/http://www.bloggingstocks.com/2009/02/05/circuit-city-elementary-school/#commentsFiled under:

With its stock price currently hovering at about 8/10ths of a penny, Circuit City Stores is nearing the day when it will completely cease to exist.

DJM Realty announced that it is has been retained to oversee the sale of the company's real estate assets. In a press release, Andy Graiser and Emilio Amendola, DJM Realty's Co-Presidents, commented that "Circuit City's real estate has begun to create interest among national and regional retailers and supermarkets. There are great opportunities for schools and other non-retail uses."

Continue reading Circuit City Elementary School?

Circuit City Elementary School? originally appeared on BloggingStocks on Thu, 05 Feb 2009 15:18:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Circuit CityCircuitCitycommercial real estateCommercialRealEstateinthenewsThu, 05 Feb 2009 15:18:00 EST<![CDATA[Circuit City impact will be deeply felt]]>http://www.bloggingstocks.com/2009/02/04/circuit-city-impact-will-be-deeply-felt/http://www.bloggingstocks.com/2009/02/04/circuit-city-impact-will-be-deeply-felt/http://www.bloggingstocks.com/2009/02/04/circuit-city-impact-will-be-deeply-felt/#commentsFiled under: , , , , , , , ,

We all know the impact that the current economic slowdown has had on Circuit City, but the question over what ultimate impact Circuit City's collapse will have on the economy will take a little longer to figure out. One thing is for sure, the company's collapse could not have come at a worse time for the overall economy.

The first ripple that the market is going to feel is the vacancies that the company is going to leave in its wake after closing its doors. The company was operating 567 stores at the time it announced it was going under, and these stores represented a total square footage of 18.71 million square feet.

Continue reading Circuit City impact will be deeply felt

Circuit City impact will be deeply felt originally appeared on BloggingStocks on Wed, 04 Feb 2009 19:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>advertisingBBYBest BuyBestBuyCircuit CityCircuitCityeconomyHewlett PackardHewlettPackardHPQlayoffsrecessionrental incomeRentalIncomeretailSamsungshopping centersShoppingCentersSNESonyWed, 04 Feb 2009 19:15:00 EST<![CDATA[Best Buy looking at buying some empty Circuit City locations soon?]]>http://www.bloggingstocks.com/2009/01/30/best-buy-looking-at-buying-some-empty-circuit-city-locations-soo/http://www.bloggingstocks.com/2009/01/30/best-buy-looking-at-buying-some-empty-circuit-city-locations-soo/http://www.bloggingstocks.com/2009/01/30/best-buy-looking-at-buying-some-empty-circuit-city-locations-soo/#commentsFiled under: ,

Best Buy, Inc. (NYSE: BBY) CEO Brad Anderson indicated this week at the World Economic Forum in Davos, Switzerland that the largest consumer electronics retailer in the U.S. would be looking at about-to-be-vacated retail locations that are closing due to Circuit City's ongoing liquidation that's expected to run until sometime in March.

Where it makes sense, Best Buy could most likely snap up locations for smaller-format stores for its Best Buy Mobile operations or other concept stores it would like to test. It certainly will be able to acquire some former Circuit City locations on the cheap. It's a good move as the mass market consumer electronics retailer experiments with growing sales outside the standard big-box format.

Continue reading Best Buy looking at buying some empty Circuit City locations soon?

Best Buy looking at buying some empty Circuit City locations soon? originally appeared on BloggingStocks on Fri, 30 Jan 2009 15:55:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BBYBest BuyBest Buy storesCCCircuit CityInthenewsFri, 30 Jan 2009 15:55:00 EST<![CDATA[My predictions for Obama's first year]]>http://www.bloggingstocks.com/2009/01/19/my-predictions-for-obamas-first-year/http://www.bloggingstocks.com/2009/01/19/my-predictions-for-obamas-first-year/http://www.bloggingstocks.com/2009/01/19/my-predictions-for-obamas-first-year/#commentsFiled under: , ,

Like all good marriages, the union of Barack Obama and the American people will start tomorrow with the best of intentions. The problem is that it won't last, particularly when it comes to the economy.

The president-elect already is at odds with House Speaker Nancy Pelosi over whether to repeal the Bush tax cuts before they expire in 2010, according to the Wall Street Journal. The economic stimulus package is expected to top $850 billion as part of Obama's pledge to create jobs and reducing taxes. Meanwhile, the housing market continues to stink and the stock market continues to be dreadful.

Improving the economy is going to be a long, painful process. Think turning around a super-tanker and you get the idea. Good news is going to be hard to come by over the next 12 months. Bad news will be plentiful. Here are some predictions of the troubles that lie ahead for the economy no matter despite Obama's best intentions.
  • Corporate bankruptcies -- Experts are predicting one of the biggest waves of corporate bankruptcies and restructurings in years. Already, Circuit City Stores Inc. (OTC: CCTYQ) has bitten the dust and the year is just getting started. Loads of retailers who are already operating on the razor's edge of profitability may be pushed over the edge. I doubt that enough credit will be unlocked by government fiat to address this problem.

Continue reading My predictions for Obama's first year

My predictions for Obama's first year originally appeared on BloggingStocks on Mon, 19 Jan 2009 16:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BACbanksCCTYQCircuit CItyCircuitCityeconomic stimulusEconomicStimuluseconomyfeaturedLarry SummersLarrySummersLehman brothersLehmanBrothersNancy PElosiNancyPelositradeMon, 19 Jan 2009 16:30:00 EST<![CDATA[40,000 jobs lost in one day as deflation's vicious cycle accelerates]]>http://www.bloggingstocks.com/2009/01/17/40-000-jobs-lost-in-one-day-as-deflations-vicious-cycle-acceler/http://www.bloggingstocks.com/2009/01/17/40-000-jobs-lost-in-one-day-as-deflations-vicious-cycle-acceler/http://www.bloggingstocks.com/2009/01/17/40-000-jobs-lost-in-one-day-as-deflations-vicious-cycle-acceler/#commentsFiled under: , , , , , ,

Yesterday no fewer than 20 companies around the world announced 40,000 layoffs. As I posted, that's the flip side of the great inflation report that came out this week. And those 40,000 are among the first of 2.1 million U.S. jobs that are forecast to disappear in 2009 -- particularly if the $825 billion stimulus plan does not pass.

Here are some of yesterday's cuts from the U.S. companies:

  • Circuit City Stores is liquidating and taking 30,000 jobs along for the ride
  • Hertz Global Holdings Inc. (NYSE: HTZ) is eliminating 4,000 jobs worldwide due to a drop in travel demand.
  • WellPoint (NYSE: WLP) the second-largest U.S. health insurer, will end 1,500 jobs, which include 600 workers and 900 open positions.
  • Clear Channel (NYSE: CCO) -- the largest U.S. radio broadcaster -- will lay off 1,500 employees on January 20.

Continue reading 40,000 jobs lost in one day as deflation's vicious cycle accelerates

40,000 jobs lost in one day as deflation's vicious cycle accelerates originally appeared on BloggingStocks on Sat, 17 Jan 2009 11:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>advanced micro devicescircuit cityclear channelconococonocophillipsgeneral electrichertzhertz global holdingswellpointSat, 17 Jan 2009 11:10:00 EST<![CDATA[Circuit City to go out of business and close down permanently]]>http://www.bloggingstocks.com/2009/01/16/circuit-city-to-go-out-of-business-and-close-down-permanently/http://www.bloggingstocks.com/2009/01/16/circuit-city-to-go-out-of-business-and-close-down-permanently/http://www.bloggingstocks.com/2009/01/16/circuit-city-to-go-out-of-business-and-close-down-permanently/#commentsFiled under: ,

Circuit City Stores Inc. (NYSE: CC) is going away for good. The nation's former second-largest consumer electronics retailer told the investing world this morning that it had not been able to reach any kind of deal with creditors or potential bidders of the company. As such, it will ask the bankruptcy judge presiding over its case to begin liquidating all of its assets as soon as possible.

This all started when former Circuit City CEO Phil Schoonover fired over 3,500 sales staffers and tried to replace them with lower-paid workers. The first time you take away your greatest asset -- those who touch customers every day -- due to cost concerns, you're ultimately doomed.

Continue reading Circuit City to go out of business and close down permanently

Circuit City to go out of business and close down permanently originally appeared on BloggingStocks on Fri, 16 Jan 2009 13:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>CCCircuit CityCircuit City bankruptcyCircuitCityCircuitCity liquidationCircuitCityBankruptcyCircuitcityLiquidationfeaturedinthenewsFri, 16 Jan 2009 13:00:00 EST<![CDATA[Circuit City to liquidate U.S. stores]]>http://www.bloggingstocks.com/2009/01/16/circuit-city-to-liquidate-u-s-stores/http://www.bloggingstocks.com/2009/01/16/circuit-city-to-liquidate-u-s-stores/http://www.bloggingstocks.com/2009/01/16/circuit-city-to-liquidate-u-s-stores/#commentsAfter negotiations to find a buyer failed, Circuit City will liquidate its U.S. stores. According to court papers filed this morning, the Richmond, Virginia-based company has appointed three companies to liquidate its inventory. The company, which filed for bankruptcy in November, had a deadline of today to find a buyer.

Circuit City to liquidate U.S. stores originally appeared on BloggingStocks on Fri, 16 Jan 2009 11:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bankruptcyCircuit CityCircuitCityinthenewsliquidationFri, 16 Jan 2009 11:30:00 EST