Circuit City

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8 Iconic Stores That Have Disappeared

From Filene's Basement to Tower Records

(Newser) - This week, Radioshack announced the closing of some 1,100 stores, prompting speculation as to whether it will go the way of Blockbuster. That reminds a nostalgic Caitlin Dewey at the Washington Post of the key stores of yesteryear that just aren't there anymore:
  1. After more than 100 years,
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Apple Has Killed a Half Million Jobs

BusinessInsider doubts Apple's job-creation claim

(Newser) - Accused of shipping American jobs overseas , Apple reacted by saying it has actually created US jobs— some 514,000 in fact . Now BusinessInsider takes a closer look at the numbers and finds that the tech behemoth has actually eliminated 490,570 positions, nearly the same amount it has created. Here'... More »

10 Worst-Managed Companies of 2010

Yahoo, Boeing are new entries

(Newser) - TheStreet.com has its least favorite companies listed on its site. It has two new additions and many returning losers. New to its list of the most egregiously poor performers is Yahoo. Both Yang and Bartz are dissed equally. Then there's Boeing—making the F grade for the so far... More »

Virtual Business Yields Real Profits

Second Life hosts $567M economy

(Newser) - The real economy is mired in recession, but on sites like Second Life, the virtual economy's booming. Thanks to opportunities for entrepreneurs in everything from hats to land, user-to-user transactions totaled to over $567 million in real dollars last year. "The barriers to entry are really, really low for... More »

Tech Losers of the '00s

From AOL to Motorola to Circuit City, these companies couldn't keep up

(Newser) - It’s been an amazing decade for technology, but not everyone came out ahead. CrunchGear considers the big losers of the '00s, starting with the biggest: Brick and mortar retailers. Once consumers learned to trust online merchants, lots of stores—we’re looking at you Circuit City and CompUSA—went... More »

Circuit City Powers Down

Electronics retailer offers one more day of deep discounts

(Newser) - Today is the last day to benefit from the deeply slashed prices at the nation's closing Circuit City stores, NPR reports. Not everyone is pleased with the remaining selection of unwanted laptops and lonely printers, but shoppers are still finding deals, and the soon-to-be jobless employees seem to be doing... More »

Circuit City Liquidation Sales Will Begin Tomorrow

Consumer-electronics chain has $1.3B in inventory to get rid of

(Newser) - Circuit City will begin the liquidation of $1.3 billion in inventory across 567 stores in special sales tomorrow, Reuters reports. The company hasn’t said anything specific on the discounts it might offer, but markdowns are likely to be deep. Gift cards from the chain will be redeemable at... More »

Circuit City to Liquidate US Stores

Everything must go

(Newser) - Circuit City will liquidate all 567 of its US stores after failing to find a buyer or a refinancing deal, the AP reports. The nation's second-biggest electronics retailer employs more than 30,000 people. Calls to the Richmond, Va.-based company and its designated liquidators were not immediately returned. Circuit... More »

A Rash of Retailers About to Go Bankrupt

Debt, trimmed consumer spending push retailers to brink

(Newser) - Look for a wave of retailers going bankrupt in the months ahead, reports the Wall Street Journal, as dismal holiday sales take their toll on a business sector that's weak from expanding too fast and taking on too much debt. Lenders who traditionally have supported the segment are pulling back,... More »

With Fewer Retail Jobs, More Cheating on Hiring Test

Unicru exam, used by Best Buy and others, unpopular with many job-seekers

(Newser) - Cheat on the personality test many retailers make job applicants take as part of the hiring process and you’ve got one foot in the door—and a lot of company, reports the Wall Street Journal. The computer-administered tests are feeding a growing culture of savvy applicants who share answers,... More »

No Christmas Miracle for Retailers

Even luxury sector sales in free fall

(Newser) - It was a bleak Christmas and promises to be a less than prosperous New Year for retailers with consumers tightening their belts and spending less, reports the Wall Street Journal. Retail sales dropped 5.5% in November and 8% in December, compared with the same months last year. Luxury goods,... More »

Consumers Not Buying... Um, Anything

Worried Americans scaling back spending, saving more—bad news for retailers

(Newser) - The US consumer has “gone from being the world economy’s greatest strength to its Achilles’ heel,” writes David Leonhardt in the New York Times. Just as Wall Street’s turmoil begins to calm, consumer spending—an economic mainstay—has gone into hiding, helping to accelerate General Motors’... More »

Chinese Stimulus Lifts Dow

Index surges 150+ at open, following Asian lead

(Newser) - Stocks jumped out of the gate today, thanks to a $586 billion stimulus package from Beijing. The Dow was up nearly 200 just after opening, the Wall Street Journal reports, and the S&P and Nasdaq climbed 1.8% and 1.2%, respectively. The moves followed rallies overseas, including a... More »

Circuit City Files for Bankruptcy

Dropping consumer spending, tightening credit hurt the electronics giant

(Newser) - Circuit City Stores has filed for bankruptcy protection today, about a week after it said it would close 20% of its stores. The electronics retailer, based in Richmond, Va., has struggled as nervous consumers spend less and credit tightens. More »

Cash-Strapped Circuit City Looks to Close 150 Stores

Struggling to avoid a holiday season bankruptcy, retailer weighs options

(Newser) - Cash-strapped Circuit City may shutter more than 10% of its nearly 1,500 stores in North America and eliminate thousands of jobs, reports the Wall Street Journal. The company is considering the plan as a way to avoid a holiday season bankruptcy filing, which could leave customers wary of the... More »

Songs Savaged by Pop Culture

Commercials, YouTube and 'iconic' movie scenes make old faves unlistenable

(Newser) - Some songs simply can't survive the ravages of pop culture. Scott Bennett on College Humor, runs down some tunes he can no longer listen to:
  • "O, Fortuna:" Jackass turned this "orchestral masterpiece" from Carl Orff into something that went from evoking "the struggle of mankind" to
... More »

Blockbuster Makes $1.35B Bid for Circuit City

Movie-rental chain takes its $6-$8 per share bid public

(Newser) - Movie-rental chain Blockbuster went public today with an offer to buy struggling consumer electronics retailer Circuit City for between $6 and $8 a share, reports the Wall Street Journal. Blockbuster made the offer—worth up to $1.35 billion—in February, but said Circuit City hasn’t opened its books.... More »

TV Makers Scoff at Your Puny Recession

Say buyers will continue snapping up flat panels; investors not so sure

(Newser) - Who cares if there’s a recession? The Super Bowl’s on! Even after the worst retailing Christmas in years, the makers of flat-panel, high-definition TVs are confident their trendy product will keep selling, spurred by falling prices and prime tube-watching events like the Olympics. One market-research firm is predicting... More »

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