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https://www.wsj.com/amp/articles/elliott-management-is-lead-bidder-in-auction-of-barnes-noble-11559843348 Barnes & Noble Nearing Deal to Be Acquired by Elliott Management Beginning of the end for Barnes and Nobles.
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Jun 7, 2019 14:30
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cisneros posted:What's the point of that "pre-opening" thing, slipping you a used game as new, or just annoying you to the point that you settle to buy used games, which they make a bigger margin of? In the store I worked in (UK) it was because lots of publishers didn't send you dummy boxes to put on the shelves, and nobody's putting the real, sealed copies out on the shelves when it's so trivially easy to steal them.
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Jun 7, 2019 14:41
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CoffeeBooze posted:I remember my 10 year old self feeling a little insulted when they only offered me five cents for my NES copy of Spy Hunter. Then I went to the sales counter to see if they had another game in stock and saw that they had nearly twenty Spy Hunter carts sitting on the shelf collecting dust. That’s when realized that the reason the offer was so low was because they didn’t want the stupid unbeatable thing. I bought a copy of Kung-Fu at a Funco land for like $0.50 because they had about 1,000 copies of that old rear end game. It's always weird when you find out certain games were apparently ubiquitous, but you still never had your own copy because you had Batman instead.
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Jun 7, 2019 14:43
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Flaggy posted:https://www.wsj.com/amp/articles/elliott-management-is-lead-bidder-in-auction-of-barnes-noble-11559843348 Reminds me of when Borders closed. At least I'm self aware enough to get that I'm literally the problem. I've been to a B&N or Books-A-Million and shopped around only to literally buy the book off Amazon on my phone while I'm there because it's like half the price. I've never really encountered that many "Mom & Pop" book stores except for used books so I don't feel too terrible for supposedly causing them to close. Also, old used bookstores are rad as hell. One near me sells them at 10% of the cover price so they're like $.25 each it's great.
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Jun 7, 2019 14:53
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Alaois posted:its people buying the display copy and getting mad that its the display copy So you're just ignoring the several people that have explained that it is not the display copy we're complaining about and that it's actually common practice at certain locations? I even said "It may vary by region or even store" because I can literally give you the addresses of GameStops near me that continue to do what we're talking about. You pick up an empty display case from the shelf, it even says "DISPLAY ONLY" on it. You hand it to the employee who then puts it down on the counter. They then open one drawer to grab an actual brand new empty case, and then another drawer to grab a disc that's in a clear plastic envelope. They then take the disc from the one drawer and put it in the case from the other, complete the purchase, and then put it in a bag for you to take away, all while the DISPLAY ONLY case is still sitting on the counter. I don't care if it's the display copy if that's all that's left. I do care that it's being done for seemingly no reason, unless it's to still pull the same poo poo that they got in trouble for years ago by removing DLC codes and other literature.
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Jun 7, 2019 14:57
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Flaggy posted:https://www.wsj.com/amp/articles/elliott-management-is-lead-bidder-in-auction-of-barnes-noble-11559843348
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Jun 7, 2019 15:24
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Pope Corky the IX posted:You pick up an empty display case from the shelf, it even says "DISPLAY ONLY" on it. You hand it to the employee who then puts it down on the counter. They then open one drawer to grab an actual brand new empty case, and then another drawer to grab a disc that's in a clear plastic envelope. They then take the disc from the one drawer and put it in the case from the other, complete the purchase, and then put it in a bag for you to take away, all while the DISPLAY ONLY case is still sitting on the counter. Yeah this is insanity. It's tripling the amount of work that an employee has to do.
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Jun 7, 2019 15:26
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I'm not gonna be a GameStop apologist by any means but finding those display cover arts takes forever once the game gets slightly old. It's not very practical.
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Jun 7, 2019 15:39
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FlamingLiberal posted:Yeah it will be dead within a year or two, once the hedge fund people strip whatever remaining value they can get from it Thats what I was thinking and this particular hedge fund is top of the heap for being awful.
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Jun 7, 2019 15:47
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Flaggy posted:https://www.wsj.com/amp/articles/elliott-management-is-lead-bidder-in-auction-of-barnes-noble-11559843348 Time to rip all my Nook books into Kindle format.
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Jun 7, 2019 16:49
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Flaggy posted:https://www.wsj.com/amp/articles/elliott-management-is-lead-bidder-in-auction-of-barnes-noble-11559843348  There goes the only bookstore near my kids. Guess we're going to a walmart to pick out books now...
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Jun 7, 2019 17:26
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They're also the only local seller of Gundam Model kits.
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Jun 7, 2019 17:29
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On the plus side at least somebody will make money off B&N before it dies, rather than this slow inevitable spiral towards death and despair. B&N is where I go when my kid needs a book for class the next day or where I kill 30 minutes until whatever I wanted to do nearby is ready.
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Jun 7, 2019 17:29
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I think I've only pre-ordered from Gamestop and they give you the games in package then.
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Jun 7, 2019 17:32
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Krispy Wafer posted:On the plus side at least somebody will make money off B&N before it dies, rather than this slow inevitable spiral towards death and despair. I wouldn't call the worst forms of vulture capitalism a plus
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Jun 7, 2019 18:05
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brugroffil posted:I wouldn't call the worst forms of vulture capitalism a plus I'd say they should be first up against the wall, but I think it'd be better for vulture capitalists to be taken apart over the course of a year.
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Jun 7, 2019 18:16
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Well gently caress, now I have to make a barnes and noble room for when I want to remember the 90s. Where am I supposed to find green marble and faux hardwood at this hour?
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Jun 7, 2019 18:19
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Getting acquired by private equity is the business version of going to live on a farm
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Jun 7, 2019 18:37
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I still enjoy being in Barnes & Noble but they cut the hours and it's hard to justify being there in the middle of the day (although it was wild that a book store used to stay open until 10:00 or 11:00).
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Jun 7, 2019 19:23
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Beachcomber posted:I'd say they should be first up against the wall, but I think it'd be better for vulture capitalists to be taken apart over the course of a year. hehehe 
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Jun 7, 2019 19:46
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I used to go and buy stuff from B&N all the time, but years ago they removed all the seating from every store around me (not sure if it was company wide or what) and I stopped going because I couldn't just sit for a while and read something and decide if I wanted to purchase it or not. I understand they don't want people sitting there all day reading stuff for free but it seemed like a dumb move to me.
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Jun 7, 2019 20:03
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brugroffil posted:I wouldn't call the worst forms of vulture capitalism a plus Barnes & Noble’s fate was sealed 12 years ago when Amazon released the Kindle. Their business model is only slightly better than GameStop’s, but they both thought selling Funko Pops was a good idea. I don’t necessarily want to see them gone. At the same time they killed my city’s beloved local book chain so live by the sword, die by the sword. They’re not long for this world whether a private equity fund buys them or not.
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Jun 7, 2019 20:07
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Volmarias posted:
Just go to your local library ya dingus
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Jun 7, 2019 22:20
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Beachcomber posted:I'd say they should be first up against the wall, but I think it'd be better for vulture capitalists to be taken apart over the course of a year. And the owners of noted for profit business Barnes and Noble are what, second against the wall? You people hate everyone
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Jun 7, 2019 22:41
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Strategic Tea posted:And the owners of noted for profit business Barnes and Noble are what, second against the wall? You people hate everyone Do you think people genuinely only dislike predatory equity groups like that because those people genuinely feel a personal human affection for the companies being preyed upon or do you think that perhaps people might think that those predatory equity groups are just bad in principle
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Jun 7, 2019 22:55
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InediblePenguin posted:Do you think people genuinely only dislike predatory equity groups like that because those people genuinely feel a personal human affection for the companies being preyed upon or do you think that perhaps people might think that those predatory equity groups are just bad in principle My heart has been cold ever since they killed Waldenbooks.
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Jun 7, 2019 23:02
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Are funko pops dead yet? I can't imagine they can sustain their popularity.
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Jun 8, 2019 00:17
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Their popularity is based on "oh, my nephew likes stupid nerd poo poo and has a few of those dumbass bobbleheads, I'll get him another with the throne game lady for his birthday this year" so basically never.
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Jun 8, 2019 00:35
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As long as dead or dying companies think Funko Pops are the secret to success there will be a market for them. Funko Corp should probably get payment in advance for any future shipments to B&N and GameStop. Teriyaki Hairpiece posted:My heart has been cold ever since they killed Waldenbooks. Waldenbooks was so bad, but it was all we had when I was a kid.
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Jun 8, 2019 01:41
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Bean posted:I almost wonder if GameStop couldn’t pull up some by adding tabletop gaming to their stores, like selling dnd and magic cards and junk? It’s near enough the same market. It pains me to say this because it would put a lot of them out of business, but Gamestop using their real estate footprint and established logistics chain to rebrand as Your Local Game Store would probably save them, or at least staunch the bleeding. They would have to staff up a bit and throw away the ThinkGeek merchandise. Rip out all the fixtures in the middle of the store, put in some tables, run friday night magic, partner with Hasbro, generally lean into the whole social aspect of gaming. Close a few of the smaller stores and use that to pay rent on then next level of strip mall unit up from where they are now. A card and cardboard game store with national chain levels of capital behind it could wreck house. It would probably put my local game store out of business, but since it won't happen, I'm not worried.
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Jun 8, 2019 02:28
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Neon Noodle posted:Getting acquired by private equity is the business version of going to live on a farm My company was bought by a Wall Street Thing, owned for 7 years, then sold to a large multi national. We didn’t die, but many of us did along the way.
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Jun 8, 2019 04:10
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Neon Noodle posted:Getting acquired by private equity is the business version of going to live on a farm It actually worked out really well for Burlington (Don’t call us Coat Factory) Stores that people were talking about a few pages ago. I was working for them after they were acquired by Bain and had a chance to get in on the IPO and didn’t. They were offering shares at $17, it’s currently trading at $163. I was a manager on the distribution side and it was a horrible company to work for but I kind of wish I had bought into some shares looking back. I’m much happier not having that stock and no longer working for them though.
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Jun 8, 2019 04:22
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Strategic Tea posted:And the owners of noted for profit business Barnes and Noble are what, second against the wall? You people hate everyone Everyone should hate vulture capitalists on general principles.
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Jun 8, 2019 05:32
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Shrapnig posted:It actually worked out really well for Burlington (Don’t call us Coat Factory) Stores that people were talking about a few pages ago. I was working for them after they were acquired by Bain and had a chance to get in on the IPO and didn’t. They were offering shares at $17, it’s currently trading at $163. I was a manager on the distribution side and it was a horrible company to work for but I kind of wish I had bought into some shares looking back. Yeah, apparently the Equity Group that bought B&N owns Waterstones (basically the UK version of B&N) and turned them around from failing to profitable by instituting such groundbreaking ideas as "stop shipping the same inventory list to every store, and let the stores determine for themselves which books would appeal to their readers the most", so...fingers crossed?
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Jun 8, 2019 05:40
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Quote-Unquote posted:Yeah this is insanity. It's tripling the amount of work that an employee has to do. Honestly most people at Gamestop are bored to the point they may as well gently caress with everyone by doing that. As far as I know that isn't how they should do it, but they probably had somebody really gently caress something up in the past. Back when I worked a few months at a Software Etc, I got stuck on reshrink duty, where I got to reseal display copies to make them look new. I assumed people would tell the difference between shrink wrap and factory wrap, but no one said a thing. The store was a mess, as games were starting to get into the whole collectors edition thing, but there was absolutely no tracking on anything but the game SKU. People would reserve a game, come in and pick it up, and leave whatever nonsense behind. Then the employees would keep it or hand it to regulars.
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Jun 8, 2019 06:31
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xarph posted:It pains me to say this because it would put a lot of them out of business, but Gamestop using their real estate footprint and established logistics chain to rebrand as Your Local Game Store would probably save them, or at least staunch the bleeding. They would have to staff up a bit and throw away the ThinkGeek merchandise. Rip out all the fixtures in the middle of the store, put in some tables, run friday night magic, partner with Hasbro, generally lean into the whole social aspect of gaming. Close a few of the smaller stores and use that to pay rent on then next level of strip mall unit up from where they are now. Yes if only this company had a completely different business model, they might be successful.
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Jun 8, 2019 08:10
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As somebody who buys games from time to time, I absolutely don't understand the added value of stores like Gamestop in this day and age. Why even bother saving them? Why be invested in them? Propping them up seems like insisting that Youtube should be sending you videos on VHS instead of streaming them. Just accept that we've moved on.
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Jun 8, 2019 12:09
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steinrokkan posted:As somebody who buys games from time to time, I absolutely don't understand the added value of stores like Gamestop in this day and age. Why even bother saving them? Why be invested in them? Propping them up seems like insisting that Youtube should be sending you videos on VHS instead of streaming them. Just accept that we've moved on. Because GameStop does actually get pretty niche games and it helps to actually see everything lined up where you can see boxart and read blurbs on the back. I pretty much buy only from Amazon and Best Buy these days but I wouldn’t say I really browse their stuff, as I generally just buy what I know I’m looking for. However, the couple of times I’ve stepped foot into a GameStop I’ve seen some games where I went “oh, I didn’t even remember that was a thing. I should pick that up sometime” I don’t think a huge amount of people will cry if GameStop closes because the business itself sucks major rear end, but I think people would be pretty bummed out if no physical retail space for games existed anymore. I think there’s ways it can be done, but GameStop is better off dying because the name is tainted at this point.
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Jun 8, 2019 14:49
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steinrokkan posted:As somebody who buys games from time to time, I absolutely don't understand the added value of stores like Gamestop in this day and age. Why even bother saving them? Why be invested in them? Propping them up seems like insisting that Youtube should be sending you videos on VHS instead of streaming them. Just accept that we've moved on. I don't think whoever buys them next is going to be interested in "investing" or "saving" the company. They're going to swoop in to squeeze every last drop of value out of the assets, work the employees like dogs until only the most desperate or clueless remain, then close everything down in the most tax-advantageous way known to modern science.
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Jun 8, 2019 15:08
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GameStop works similar to all media retailers in that they benefit from scarcity. Want the new Drake album? Go to XYZ store because they have lots of CD's in stock. New CoD coming out? Better pre-order that poo poo at your local video game store so you can play with all your friends on day 1. It's Friday night and the family wants to watch a movie? Blockbuster has more new releases than anyone else. When I worked in record stores there were plenty of occasions where customers would come in for a CD or tape and not find it. Checking the placards of your favorite artists to see what CD's were in stock was just something you did. Take away scarcity and you lose a big chunk of those store's value or incentive to shop at one brand versus another. Digital delivery kills scarcity. All retail chains that primarily sell media are going to die. Smaller local versions might be able to survive, but their operating costs are lower and they can fine tune their offerings to locals. I'll go out of my way to visit a local bookstore. I'm not driving more than 10 minutes for a GameStop.
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Jun 8, 2019 15:24
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