Friday, January 16, 2009

Change has come.

I've always liked Circuit City. Bought my first CD player from them way back when they first started to become popular.
Circuit City, the second-largest retailer of consumer electronics, has announced it is forced to close all its remaining 567 U.S. stores and sell all its merchandise. The closing also leaves 34,000 Circuit City employees out of a job.
Businesses like Circuit City are among the first hit in a recession. As disposable income levels go down, so do levels of toys that people buy. People make due with the old digital camera instead of giving in and buying the newer, cooler camera. The old TV still works with the converter, there isn't any room in the budget for the a new flatscreen. No economic stimulus package will fix the pocket income that helps drive today's market short of getting out of the way of employers and their businesses.

Update: More links here and here

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