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US: Stores closings - road to hell
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  • Search 'dead mall' on youtube and get your minds blown. I was not aware since I haven't been to a mall in years, but then again, since I haven't been in years.. But these malls are being demolished rather than repurposed.. some of which are very recently built. It's like pouring a 100x100 foot concrete block, then blowing it up. Who knows how many tons of coal/barrels of oil were wasted for such an endeavor.

  • @aaee991 - I get this completely. I had a gig coaching bridge players at a nursing home. Because the knowledge is specialized and now rare, the hourly rate is good. I terminated the arrangement because they would not pay in a timely manner. During this period, the kitchen was contaminated and a quarantine was imposed for two weeks. This facility has the highest monthly rate in the city, and they regularly turn over the general manager. My point is that your customers may be telling you the truth. It's hard to find any business that has good margins and a sustainable cash flow. For all future production work, the client will pay a retainer for work without a quote. With a quote, they pay the amount of the quote or actual time, whichever is less, but with 50% up front, the remainder due before they receive a full-resolution version without a watermark. If they really want the goods, they have to pay. If they don't, well, I can get by without them.

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    Thousands of mall-based stores are shutting down in what's fast becoming one of the biggest waves of retail closures in decades.

    More than 3,500 stores are expected to close in the next couple of months.

    Department stores like JCPenney, Macy's, Sears, and Kmart are among the companies shutting down stores, along with middle-of-the-mall chains like Crocs, BCBG, Abercrombie & Fitch, and Guess.

    http://www.businessinsider.com/the-retail-apocalypse-has-officially-descended-on-america-2017-3

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  • The current situation on this planet is unsustainable. All out of control animal populations eventually self-correct. Humans will be no exception except in our case it will be orchestrated by our own kind...

    Humans are different from rats in that they learn and adapt nature. And I agree, unsustainable situation, but not in a way of too many people, but in a way of too many capitalists (anything more than 0 is too many).

  • Yup... Even the retail jobs in the U.S. have started to vanish. I'm sure the multi-national billionaire class will soon find a convenient excuse to start a major war. They'll have to do something to get rid of all of us "useless" people... The current situation on this planet is unsustainable. All out of control animal populations eventually self-correct. Humans will be no exception except in our case it will be orchestrated by our own kind...

  • Sears going down.

    Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern.

    Payless Inc, discount shoe chain, is preparing to file for bankruptcy as soon as next week, company is initially planning to close 400 to 500 stores as it reorganizes operations. Payless had originally looked to shutter as many as 1,000 locations

  • Collapse in department store spending is the biggest on record.

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  • Magazines follow

    Popular Photography Magazine being nearly 80 years now, one of the world's most widely circulated photography print publications, is closing.

    The upcoming March/April issue will be last one, and as of Friday, March 10th, no new content will be published on PopPhoto.com.

    Pop Photo's sister publication, American Photo Magazine, had been Web-only for the past couple of years; it will also stop updating its website as of this coming Friday.

  • The regional chain HH Gregg is closing 40% of its stores (88 of them in 15 states) plus three distribution centers.

    Ritz Camera and Image is closing one store, in Towson (Maryland),

  • We can't afford to stay in business with our customers treating us like this.

    Unfortunately that you see is normal, it is how system works And it works such in more and more degree as big capitalists no longer have such big fear that set some limits in the past.

    Absolutely same happens in retail where huge chains can pay 120 days after getting product, they also lot of other payments and have horrible terms where they can fine you under almost any pretext.

  • I am a part owner of a small manufacturing business. Our biggest customers (mostly Fortune 500 companies) extend their payment terms more and more. Now they tell us to "remain competitive" they must pay us in 90 to 120 days AFTER they get our products. Our suppliers of the raw materials demand payment in 30-45 days. When we try and raise prices to offset the long payment terms, our big customers refuse and try and source the product elsewhere. This goes on and on... Why do they REALLY do this? Because it makes the big company's cash flow better and more attractive to "shareholders". That in turn raises the stock price. Then the CEO makes even more money! It is pushing companies like mine out of business. We can't afford to stay in business with our customers treating us like this.

  • Good article you need to check

    40 years ago, Bob Khoury and Warren Steinberg started selling used photo equipment out of a showcase in an Atlanta, Georgia, flea market. Soon they moved to a brick and mortar store which, to incorporate their earlier experience, they called Showcase. The store grew to be the largest in Atlanta and sold photo and video equipment to amateurs and professionals alike and last year they celebrated their 40th anniversary.

    Showcase’s demographic was aging, better cameras on smartphones were eating into the digital camera market, less customers were coming into the shop and even those that came were often showrooming. The word “showrooming” gets underlined in red by my Microsoft Word spellcheck, so I go to Merriam-Webster but it is not there either. However, showrooming has become a legitimate word in the last few years and Wikipedia defines it as the practice of examining merchandise in a traditional brick and mortar retail store and then buying it online, sometimes at a lower price. Here they were not just examining the merchandise but getting the input and advice of the experienced staff to figure out which model was the most suited for them, holding it in their hand, picking on their knowledge, using their time… and then buying online.

    And it is interesting illustration on how capitalism kills environment by not being unable to go for common good.

    “One of the main reasons — and I in no way want to come across as a victim — is the manufacturers, and I lay a lot about it on the manufacturers, who have been cutting my margins for years and fixing Minimum Advertised Pricing to the point where it’s very difficult to make any money in this business,” says Khoury. “My margins have fallen 5% over the past eight years. To give you an idea, the minimum advertised price on Canon lenses is 5%; we make 5% on Canon lenses. Others are 10%, but even that’s not enough to sustain the business.”

    “The margins have been cut so low on our major products and then the manufacturer say, well the reason you know we’re doing this is that it drives business to your store. Fine, but if somebody comes in and buys a lens that I make 5% on and if they pay me with an American Express card I have to give American Express over 3% of that. Where are my margins? I have no margins.”

    And this is how big business and monopolies literally squeeze out every dollar from small guys and later they throw out them in the dump. This is how capitalism laws work.

    https://petapixel.com/2017/03/02/another-big-camera-store-fails-many-closing/

  • Over the past six years the number of US retailers on the lowest and distressed tier of its rating spectrum has tripled, Moody's Investors Service says in a new report. Not since the 2008-09 recession has the percentage been so high, and the rising tide coincides with an increasing number of such companies across all industries.

    "Moody's-rated US retailers rated Caa or Ca today make up just over 13% of our total rated retail portfolio, which is the highest level since the Great Recession, when this group comprised 16% of the portfolio," said Moody's Vice President Charlie O'Shea. "And the increase comes at the same time as the broader universe of Caa rated companies is likewise growing."

    https://www.moodys.com/research/Moodys-Number-of-distressed-US-retailers-triples-since-the-Great--PR_362722

  • I like that, "Change in an instant".

  • The scary thing is these capitalist types are celebritized. People worship Trump and are literally equating him to Jesus.

    Actually it is good. As people do not have anything rational behind it, only hopes and myths spread by ruling class. Such things can change in a instant.

  • The scary thing is these capitalist types are celebritized. People worship Trump and are literally equating him to Jesus. It doesn't matter how stupid or uninformed or ugly a person is, if you have tons of money, many people are willing to genuflect on that basis alone. Puzzling.

  • Thanks. Interesting comments.

  • Universal income could just provide a baseline of support. So people can eat and get shelter. They can still open companies or invent magic beans and become rich.

    Universal income sole purpose is to do something with lot of people capitalists do not need but can't kill. Universal income idea is not made and proposed by suffering people, but by ruling class. It is just an idea for now, as I put the picture - carrot before your nose, so people can dream that their problems can be solved with such approach. Such approach also reflects dream of ruling class to turn people they do not need into badly educated and drug addicted mass without any interest besides food and sex, something that is safe for them. Why this thing won't work? Simple. Capitalists do things only in two cases - if it brings them profits or if they are afraid too much to lose everything. It won't bring profits, so only second case remains. For now they are quite calm, they see troubled future, but calm for now. Hence mostly media massaging of your brains to induce some hormones. In case of trouble this measure won't solve anything - it is intended only time of fast and progressive development, times of small number of people who will use it, and it won't be the case.

  • Universal income could just provide a baseline of support. So people can eat and get shelter. They can still open companies or invent magic beans and become rich.

  • Why won't it work? What's the alternative then? Starvation? Please elaborate

    Change of social organization. :-)

    Universal income ideas in one picture

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  • Why won't it work? What's the alternative then? Starvation? Please elaborate

  • Universal income.

    Universal income ideas are universal indicator of capitalism issues :-) Won't work.

  • Universal income.

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