Now that the Holiday Shopping is over, watch how many businesses shut their doors....

[Blackhatjack]

Many businesses were hurting BEFORE the Christmas shopping season was started early in October, and many 'held on' to grab all the dollars they could through December 31, 2007. However, now that the consumers' credit and discretionary dollars have been spent ... it is time to close up shop.

The credit crisis is much more serious than a small percentage of 'subprime mortgages.'

We are now looking at huge inventories of unsold 2007 cars, serious inflation in food and transportation expenses, jobs being laid off, and maybe a 4 year oversupply of homes on the market that will drive down the market value of ALL homes by as much as 20-30%.

Drive around and count the number of empty store fronts in your town. It is more than you think. And don't forget that stores in the upscale malls (like Macy's) are scaling back also.

This could have a huge affect on who is elected our next President in Nov 2008.

[southerncrone]

1. It isn't just Main St. that's gone bust now.

Wal-Mart sent a large chunk of independent business into extinction in the '80s & early '90's.

Now this economic crisis will cut deep, even into corporate pockets.
The NAFTA crowd may finally realize that when we don't have a mfg. base in the US, our economy will suffer. Couple this with an exponential jump in energy costs & that spells b.a.n.k.r.u.p.t.c.y.

Shittt finally hitting the fan.:hurts:

[Blackhatjack]

3. A Financial Analyst said Sears, BestBuy and Circuit City could all be in trouble...

So what do we do when the competition goes out of business? And what will stop the survivors from arbitrarily raising prices once their competition is gone?

[southerncrone]

8. The only thing stopping the remaining businesses from raping the consumer

is that the consumers cannot afford their merchandise or services.
The fact that many consumer goods corps. have been moving their hdqtrs. to other countries for a number of years should be a wake-up call. It's NOT just about tax breaks.

But I feel sure forms of enslavement will be devised to keep these corporations afloat.
Reminds me of the old Ernie Ford song "Owe My Soul To the Company Store".

American consumers may be forced to learn to do things for themselves again & resurrect local & regional
commerce again. When corporations don't sell goods, they cannot continue to exist. We need to PRODUCE
in this country again. It will help us regain our SOUL.

[dkf]

16. Hmm. better hurry up and use that Bestbuy Gift Card. nm

[onenote]

22. I wouldn't worry too much about your Best Buy card

Best Buy seems to be doing okay. Circuit City, however, not so much.

http://money.cnn.com/2007/12/18/news/companies/best_buy/index.htm?postversion=2007121813

http://www.kansas.com/business/updates/story/261334.html

[Raejeanowl]

2. This Is Also The Traditional Time To Raise Rents

We've got a mid-county mall that's about to turnover into a ghost town, and under the terms of their tenant leases, none of the shops are allowed to advertise that they are selling out to the walls.

[Blackhatjack]

4. I understand that is a pretty common situation in malls...

...especially where the mall already has lots of empty store fronts.

[CatWoman]

5. saw this today:

Desperate stores slash prices

Retailers are banking on deep discounts to take some of the sting out of the bleakest holiday sales season in five years. But analysts say it's wishful thinking to assume all can be recovered postseason.


By BusinessWeek
Christmas has passed, but Elizabeth Milner is getting busier. The shoe associate at Macy's in Overland Park, Kan., says she's seeing even more customers now than during the Christmas rush.

That's because the store is offering an extra 30% off merchandise already reduced by half. Shave off 10% more with a pass from the newspaper and you reap a deeper discount than last year, says Milner, when the store offered 20% off items already reduced by 40%.

"There's even more traffic now than pre-Christmas," says Milner, who has worked at Macy's (M, news, msgs) since 2005. "Women are after the $100 to $200 boots now going for $30."

After the most disappointing holiday sales season in five years, retailers are turning to "desperation discounting" to rescue bleak holiday sales. From early-bird specials to new "power hours" and savings of up to 80%, chain stores such as Macy's and Kohl's (KSS, news, msgs) are trying a variety of tricks to resuscitate spending.

Retail experts say that hoping for a full recovery from dirt-cheap prices may be wishful thinking, though gift-card sales could help ease the pain.

Struggling with rising gasoline prices and a collapsing housing market, many families had less to spend this year, which worries retailers who count on the holidays for up to a third of annual sales.

http://articles.moneycentral.msn.com/Investing/Extra/DesperateStoresSlashPrices.aspx

[CatWoman]

6. and this:

Gas Prices Back at $3 a Gallon

NEW YORK (AP) - Gas prices rose back to $3 a gallon at the pump Friday, following rising futures prices on concerns about tight inventories and potential supply disruptions.

But oil prices fell Friday, reversing earlier gains after weak figures on new home sales ignited fresh concerns about the economy. That gave traders a green light to lock in profits from oil's recent rally.

Light, sweet crude for February delivery fell 62 cents to settle at $96 a barrel on the New York Mercantile Exchange. Despite Friday's swoon, oil prices have risen 5 percent in a little more than a week.

Retail gas prices, which typically lag the futures market, are widely expected to rise to new record highs in the spring. Analysts think futures investors are anticipating big gains by buying now, driving futures -- and thus pump prices -- higher.

"They're all jumping on the gasoline bandwagon," said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service, who predicts pump prices will peak between $3.50 and $3.75 a gallon in the spring. The Energy Information Administration recently predicted prices will peak above $3.40 a gallon.


http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20071228&id=4160093

[emilyg]

7. Macy's shutting 14 stores.

[DemReadingDU]

21. Fourteen! I thought it was only nine

12/28/07
Macy's to close nine stores, affects 899 jobs
http://www.reuters.com/article/ousiv/idUSLAU86989720071229

[emilyg]

26. You're right.

[bullwinkle428]

9. Just found out 4 businesses at the local mall announced they're closing,

just days after Christmas. This mall is in in the "hot" shopping district within the area, so it's not like location was a problem...

[Joe Fields]

14. We have had two entire shopping malls close down in the

Kansas City area in recent years. Both of them had three large dept. store anchors.

[Sultana]

10. ...

does the shutdown of many stores open doors for foreign ownership of American companies?


:( These are tough times for average Americans struggling to make ends meet. God help us.

[southerncrone]

11. Without a doubt.

Whoever has the bucks can buy out a business that is in financial trouble or for sale.

We've sent a huge chunk of our wealth to both Japan & China over the last 2 decades by allowing them to import their products at cheap prices below what our mfg. could produce the same product. Because of this, we have lost entire industries. This is what Kucinich & Edwards speak of.

Guess who now has the $ to buy up our debt & our businesses? Guess who we are now beholden to?

[Sultana]

12. Damn!

We are owned.

WAKE UP AMERICA! or is it too late;(

[NuttyFluffers]

19. it's pretty much too late. but enjoy the bargain while it lasts!

:hi:

yay, firesale! stock up now before the only store left is wal-mart.

actually scratch that.

be thankful you have the internet to order your goods online and have it shipped to you! scrrrew the McStore! import/export warehouse delights here i come!
:D

sing it Johnny Mathis, sing!
"it's a wonderful time to go ex-pat,
ev'rywhere you go~"

[Sultana]

20. .

:rofl:

Thank God I'll be living overseas in 2 to 3 years.

[flashl]

23. Who owns American Industries?

Report from economyincrisis.org:

Number of U.S. Companies Sold Since 1978 - 14,833 Companies


Foreign Ownership of U.S. Industries

Sound recording industries.......................... 97%
Commodity contracts dealing....................... 79%
Motion picture and sound recording industries 75%
Metal ore mining .........................................65%
Motion picture and video industries ................64%
Wineries and distilleries ................................64%
Database, directory, and other publishers ........63%
Book publishers ...........................................63%

View Full List of Industries

[troubleinwinter]

13. CompUSA to close completely in January

December 7, 2007 4:45 PM PST
CompUSA closes shop
Posted by Erica Ogg
Forget Black Friday. For the best deals on gadgets and PCs this holiday season, look no further than your neighborhood CompUSA.

The embattled electronics retail chain was dealt its final blow Friday when it was sold to Specialty Equity, an affiliate of private equity firm Gordon Brothers Group. Terms of the transaction were not disclosed, but the immediate result is that Specialty Equity will close all 103 CompUSA stores in the United States, according to a press release issued late Friday.

Gordon Brothers will "initiate an orderly wind-down" of each of the stores, the company says. That's great news for consumers looking for bargains. CompUSA will remain open through the holiday shopping season, presumably with "Everything Must Go!"-style signs.

[Le Taz Hot]

15. A local bakery that has been open

since 1946 is closing January 1. It was THE place in town to get REAL beerocks (for those who know what they are) plus they made everything from scratch.

[shadowknows69]

17. At the very least look for massive layoffs

come the first of the year

[H2O Man]

18. Right.

Yesterday, my wife and daughters went to a local library. When they came home, my youngest daughter told me that a store I liked to bring her to is closing. It's an old establishment, that sold newspapers and magaznes, along with used books and "penny" candy. It is one of two old family businesses on the main street which have closed their doors since Thanksgiving. Both had been a part of the community for about 100 years.

The "good news" is that another second-hand thrift shop is opening on main street -- I'm confident it will be open for at least six months -- and yet another "dollar store" has opened on a mall about a mile out of town.

[Prefer]

24. Wow. I had no idea it was this bad.

How long until you think the country completely collapses? Should we be hoarding water and pasta like Y2K?

Also, do you think we will need guns to defend ourselves from other hungry Americans?

[fascisthunter]

25. The Raping of America... the Grand Conservative Experiment

an ownership society...