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FlamingLiberal
Jan 18, 2009

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Playboy might as well be dead...the Mansion is up for sale for $200 mil (although with the catch that Hef gets to live there until he dies).

http://www.npr.org/2016/01/16/463206919/playboy-mansion-for-sale-bunnies-not-included

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FlamingLiberal
Jan 18, 2009

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reallivedinosaur posted:

Mad Catz have always made poo poo products designed to be the cheap option for moms when junior had a tantrum and smashed his controller in a tantrum and needs a replacement.
Pretty much, yeah. I forget if it was PS1 or N64 where I bought one of their controllers as a kid and realized that they were garbage. Never bought an off-brand controller again.

FlamingLiberal
Jan 18, 2009

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canyoneer posted:

Groupon turning down a $6B buyout from google is the funniest thing, because Google realized "there is nothing Groupon is currently doing that we could not also do (and probably at least as well)"

I know a guy who worked at Circuit City during their downfall. Used to be that all the sales guys there made commission, and some of them made pretty good money (like $80-90k in the early 2000's, a lot of money for a retail job). All the hot seller guys were real product experts, and knew more about it than just reading the box.

Some genius decided that they should try to beat Best Buy at their own game, and switch to an hourly wage without commission. No worries, we'll convert everyone from their commission pay to a comparable hourly rate! But, hey, you top sales guys making $20/hr, we're just gonna lay you off because we want labor to cost more like $7/hr.
Remember when Blockbuster's execs laughed the Redbox people out of the room when they tried to sell them their business for like $3 million? Yeah.

FlamingLiberal
Jan 18, 2009

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Groupon's biggest problem is that their business model can be copied by virtually any company.

FlamingLiberal
Jan 18, 2009

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EB was always better than GameStop...I was disappointed when they got bought out especially after comparing the two and how they did trade ins.

FlamingLiberal
Jan 18, 2009

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Uh, I'm pretty sure they won that suit

FlamingLiberal
Jan 18, 2009

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Sports Authority was not able to successfully reorganize in bankruptcy, so it looks like they are going through with a sale of assets that will probably close all but a handful of stores, if not completely cease to exist shortly.

http://money.cnn.com/2016/05/02/news/companies/sports-authority-sale-store-closings/

FlamingLiberal
Jan 18, 2009

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So far the Sports Authority emails I get are ignoring this news, will see how long that lasts

FlamingLiberal
Jan 18, 2009

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Sports Authority announced tonight that they intend to have all stores closed by late August

FlamingLiberal
Jan 18, 2009

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red19fire posted:

Gonna get so jacked.

I thought they were only closing 100 out of 400+ stores nationwide? The closest SA :v: near me actually has a help wanted sign up. I wonder if it'll be like Blockbuster where the profitable stores can limp along without corporate support.
They did an auction to see if anyone wanted to buy the other stores, and the bids were not enough so they are moving forward with total liquidation.

FlamingLiberal
Jan 18, 2009

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Blockbuster was like that....they wouldn't discount their games more than like 10-20% even near the end of the closings.

FlamingLiberal
Jan 18, 2009

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Command Ant posted:

Speaking of Blockbuster, this article about why they died came up in another thread.
I had not known about that before....really amazing how fast things can change.

FlamingLiberal
Jan 18, 2009

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The more you study business the more you realize that kind of incompetence is normal, trust me

FlamingLiberal
Jan 18, 2009

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I feel like half of these stores should just give up and stick to selling credit cards since they don't seem to have interest in retail.

FlamingLiberal
Jan 18, 2009

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Professor Shark posted:

Tap is where it's at. Smack your card against the reader, done.

Why is the US so slow to adopt technology? We've had Tap for like 4 years
It's our banks. They have been dragging their feet on implementing the technology until they were legally required to comply.

FlamingLiberal
Jan 18, 2009

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Kmart has been like that for ages.

None of the ones I went to in FL the last 10 years looked like they had been updated since 1989.

Say what you will about Walmart, but Kmart wishes it had stores that looked half that good

FlamingLiberal
Jan 18, 2009

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TapTheForwardAssist posted:

A gun blogger I follow had a story about how he worked for a convenience store chain in the 1980s where store policy was you got a week paid vacation if there was a holdup and you did everything by the books and got the robber out of there before anyone got hurt.

In one year he ended up getting robbed six times on the late shift in a bad area, and said it was all he could do not to high-five each robber since his first thought was "awesome, paid week of hunting and fishing!!!"

Then he realized that maybe getting a gun or shiv stuck in his face every other month might eventually catch up to him so he quit.
He probably had some friend do it so he could get free vacation

FlamingLiberal
Jan 18, 2009

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ThirdPartyView posted:

Still not sure how f.y.e. (Trans World Entertainment) is still in business.
What, you're telling me there isn't a market for CDs at full suggested retail price?

FlamingLiberal
Jan 18, 2009

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Krispy Kareem posted:

I've read that those membership fees are most of Costco's profit.

I'm sure they aren't selling stuff below cost, but the margins on merchandise are pretty low. It's the $55/year membership fees that keep investors happy. Plus the CEO is pretty stubborn about prices. The Costco hotdog + drink has been the same price since Reagan was President.
They actually seem to have leadership which says 'hey, if we actually pay our employees maybe we won't have awful turnover and people unhappy all the time, and therefore they give better service.' But I'm probably insane.

FlamingLiberal
Jan 18, 2009

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PassTheRemote posted:

I've heard they don't have any issues with employee theft. I wonder if the two are related?
Nah, must be just a coincidence

FlamingLiberal
Jan 18, 2009

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Raku posted:

Just want to chime in real quick and say that Chik-fil-A will work you harder than any other restaurant for the same wages or less. At least at the other places I worked (and I worked like half a dozen fast food joints) they had a relaxed environment where nobody really cared. Chik-Fil-A works you to the bone your entire shift and also keeps you like 2 hours later than any other restaurant cleaning.
That's the good old Christian Work Ethic for you.

At least that company's awful founder is dead.

FlamingLiberal
Jan 18, 2009

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The whole family is garbage but I think they were at least publicly shamed into not funding Kill the Gays laws in Africa?

FlamingLiberal
Jan 18, 2009

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Ok but KB Toys was destroyed by Bain Capital when they loaded it up with debt so they could make money.

FlamingLiberal
Jan 18, 2009

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Macy's is just the overpriced JCPenney's.

FlamingLiberal
Jan 18, 2009

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PallasAthene posted:

It might just be in the malls near me, but at the medium sized non-anchor stores closed down, stuff that had previously been relegated to booths in the aisle (as-seen-on-tv, quadcopter and hoverboard stores, custom t-shirt shops with Scarface or stoned versions of cartoon characters--Stonedbob Smokesweed anyone?) stepped up to fill the empty shops. Some of them seem to do okay, but usually it's like a nail salon, a katana and knife store, then a henna tattoo shop in one wing of the mall with like eight empty stores around them.
There's one mall near me that's like this. In front of the JCPenney's there's one weird hat shop for anime fans and another nerdy shop that no one is ever in. Nearby there are like 6 vacant storefronts. They just announced yesterday that the Sears in the mall is closing and that thing predates the entire mall.

FlamingLiberal
Jan 18, 2009

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Ruby Tuesday's is closing like 15% of their locations, which doesn't seem like nearly enough

FlamingLiberal
Jan 18, 2009

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I love how it's just two at first...then at least 3 more show up at the end

FlamingLiberal
Jan 18, 2009

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Jack Trades posted:

Something Awful LLC

Has anyone made that joke yet?
Can't kill something that's already dead

FlamingLiberal
Jan 18, 2009

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Also that CEO wanted to kill Blockbuster Online, even though at that point it was very successful

FlamingLiberal
Jan 18, 2009

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USPS has been in trouble for years since Congress passed a poison pill bill that forced them to fund future retirement benefits 50 years in advance. This was done by a Republican congress that wants to see their services privatized.

FlamingLiberal
Jan 18, 2009

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:stare:

FlamingLiberal
Jan 18, 2009

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The AP was saying 40,000 students would be affected by this, seems a little off from the 8,000 they are claiming

FlamingLiberal
Jan 18, 2009

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We have a lot of those for-profit college headquartered here in the Orlando area...I can't tell you how many times I've driven by those in the last year to find they have been totally shut down because they were basically a Ponzi scheme

FlamingLiberal
Jan 18, 2009

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Bonzo posted:

Speaking of Canada, Sears reports a 91.6 million 2nd quarter loss

http://globalnews.ca/news/2924833/sears-canada-posts-91-6m-loss-in-q2-sales-down-16/
The one over here at a local mall is closing this month after being open since before the mall even existed 50 years ago

FlamingLiberal
Jan 18, 2009

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A Fancy Bloke posted:

I live in upstate NY and there's a Kmart here that's been open about 20 years. It started as a super center with a restauarant. Then they killed the restaurant. 5 years ago a Walmart opened a quarter mile down the road and Kmart killed their groceries. So for the last 5 years it's been a giant store with half of its operating space barred off with tape where the groceries used to be. I was in there a few years ago during peak Christmas shopping hours and I'd say there were no more than 8 shoppers in the whole store.

What I'm getting at is there must be some other rhyme or reason to Kmart's plans because this store must be hemorrhaging money every month by the truckload and yet it's STILL not on that loving closure list.
I feel like every Kmart looks like this.

We have a Sears closing in October after being open for 50+ years here. I'm really not sure how this company stays afloat. I will say that I went there yesterday and due to the closing sale it was busier than any other time including Christmas.

FlamingLiberal
Jan 18, 2009

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Darth123123 posted:

Same here. Well was. The closed it and within a year the mall owners bulldozed it even though it was attached to the mall. No one wanted to rent old Sears space.
They are doing the same thing to the one here.

The funny thing is that this Sears predates the mall.

FlamingLiberal
Jan 18, 2009

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I'd really like someone to write an article about why that became a thing.

FlamingLiberal
Jan 18, 2009

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That's pretty amazing.

What's even more amazing(ly) sad is how no one was held criminally liable for anything and apparently never will even though HSBC was money laundering for awful people and Wells Fargo was committing blatant fraud.

FlamingLiberal
Jan 18, 2009

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I mean at this point what more can these various banks do that they haven't already done? HSBC was allowing terrorists and cartel members to launder money. You would think the buzzword of TERRORISM! would get them in a lot of trouble, but instead it was a modest fine. Another bank literally rigged LIBOR, which is the benchmark for worldwide financial transactions, and again, they are still in operation.

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FlamingLiberal
Jan 18, 2009

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I'm assuming that real estate portfolio is mostly the land their stores are built on

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