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Old Jan 16, 2009, 4:47 PM   #1
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Closing all stores.



http://www.comcast.net/articles/fina...ty.Bankruptcy/




another 30,000 US jobs down the tube.
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Old Jan 16, 2009, 6:24 PM   #2
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Ouch! I've had a number of bad experiences with Best Buy, and have found in the last 3 or 4 years that Circuit City provided better prices and better service. This will hurt as Costco isn't always an option for some things. I wonder if I could stretch our budget to that new TV we were thinking about getting in a year or two? Or if there's something else I need electronically speaking (maybe a Blueray DVD player, thought about that, too). I'll be sorry to see it go.
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Old Jan 17, 2009, 12:27 PM   #3
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mtngal wrote:
Quote:
Ouch! I've had a number of bad experiences with Best Buy, and have found in the last 3 or 4 years that Circuit City provided better prices and better service. This will hurt as Costco isn't always an option for some things. I wonder if I could stretch our budget to that new TV we were thinking about getting in a year or two? Or if there's something else I need electronically speaking (maybe a Blueray DVD player, thought about that, too). I'll be sorry to see it go.
Don't you just hate it when the sales hit and you don't have any money!
I won't even go look because I know there will be something I want at a too good to pass up price and I'll just feel bad cause I can't buy it!

GW:bye:
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Old Jan 17, 2009, 12:34 PM   #4
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Yeah, this has been a long-time coming. It's really too bad. I was living in Florida in the 1980's when the first Circuit City opened in the Orlando area. I was totally impressed... not only by the size of the store, selection and prices... but by the customer service.

Not only could you buy your electronics there, you could get it all serviced there! If they couldn't fix it on site, they'd send it out. Circuit City had an excellent house brand for TVs, VCRs, etc called X1000. It was all built by Funai, which is actually a very solid electronics maker. When I upgraded to a DVD/VCR unit, I gave my old X1000 VCR to my brother. It was still working 15 years after I bought it.

I bought an expensive (for the time) Sony component stereo system in 1989. I usually don't buy extended warrantees... but Circuit City's 5-year coverage was inexpensive. Four years and 10 months later, I was living in New Jersey and the cassette recorder began acting up on the Sony. I called Circuit City (which had no stores in New Jersey at the time) and they told me to have the unit fixed at a local Sony serivce center and send them the bill. They paid for it, no questions asked.

When Circuit City came to New Jersey, I - like Harriet - found them to have a better selection and lower prices than the competition, including Best Buy. But over the past couple of years, as Circuit City began to run into trouble, one could see them steadily losing their competitive edge to Best Buy. It's a shame... with less competition, I wonder what will happen to the prices at Best Buy.

True, Target and Wal-Mart will provide some competition. But for those of us looking for slightly higher-end electronics, it doesn't look good. I suspect many of us will be paying more at specialty shops and/or ordering via the Internet.

Perhaps if we weren't in the middle of a very nasty recession, Circuit City could have turned things around. I suspect they will not be the last major U.S. retailer to fail in this downturn. Circuit City's going-out-of-business sale is supposed to last until the end of March, so they can liquidate most of their inventory. I don't know if it'll take that long, but I plan to check out the prices every weekend. Farewell, Circuit City - it was great while it lasted.
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Old Jan 17, 2009, 1:16 PM   #5
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One analyst claimed that CC's "faulty business model" was to blame - the fact that their sales force was not on commission and therefore failed to steer buyers to higher priced models than the ones they wanted. If true, that analyst's attitude is a sad commentary on the greed that seems to prevail in many sectors of the share-holder driven economy of today, but I suspect other recession related forces were in play as well - a liberal return policy, offering credit with no payments for a year, then having hard pressed credit customers defaulting, plus the fact that stores concentrating on selling nonessential products that people might want but not need and could defer to another time (Sharper Image went down recently, the trend foreshadowed by Good Guys/CompUSA). High volume stores like Wal-mart, Best Buy and Fry's that have more diverse inventories and stock mostly lower end items that they can use to undersell and put pressure on specialty stores can outcompete them in the poorer economic times. CC isn't the first and won't be the last - there were none of the usual long lines in Fry's before Christmas, and there were parking spots aplenty in their huge lot - an ominous sign even for them.
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