Guess we have to bail out Radio Shack.
MGLICKER
Posts: 7,995 ✭✭✭
Forget that they are inefficient and their $12 cords and widgets can now be bought for a couple bucks on Ebay.
The 27,000 employees at 4000 stores had their tax dollars used 6 years ago to bail out the auto, banking and insurance industries.
Tough to tell them that they are less important and not big enough to be rescued.
Slippery slopes are indeed that.
The 27,000 employees at 4000 stores had their tax dollars used 6 years ago to bail out the auto, banking and insurance industries.
Tough to tell them that they are less important and not big enough to be rescued.
Slippery slopes are indeed that.
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Comments
Seriously though, are you trying to compare General Motors to Radio Shack?
Knowledge is the enemy of fear
<< <i>We should have bailed out the buggy whip manufactures. Damn innovation!!!!!
Seriously though, are you trying to compare General Motors to Radio Shack? >>
Maybe he's comparing unions that pump $$$ into politics juxtaposed the individual worker.
There were enough other auto manufacturers who would have been delighted to take up the slack for GM & Chrysler - the ones who weren't mismanaged & run into the ground by their managements and unions.
He makes a good point about Radio Shack's employees, stores and tax dollars. To quote Orwell, "some animals are more equal than others".
I knew it would happen.
However, newly hired auto workers do start out at much lower wages and have fewer benefits than those hired a decade ago.
Was not Radio Shack mismanaged? Im sure there are many companies that would take up their slack.
How about this......maybe we should blame the American people for buying electronics online instead of driving to Radio Shack. No wonder oil consumption is down. And less wear and tear on their cars. And soon less demand for cars. Oh no, GM will need to be bailed out again!!!!
Damn innovation.
Knowledge is the enemy of fear
<< <i>We should have bailed out the buggy whip manufactures. Damn innovation!!!!!
Seriously though, are you trying to compare General Motors to Radio Shack? >>
I consider all failed enterprises to be equal. Let them go bust and allow the smarter and more efficient operators to pick up the lost business.
<< <i>
<< <i>We should have bailed out the buggy whip manufactures. Damn innovation!!!!!
Seriously though, are you trying to compare General Motors to Radio Shack? >>
I consider all failed enterprises to be equal. Let them go bust and allow the smarter and more efficient operators to pick up the lost business. >>
I consider it unconstitutional behavior by our government.
And some of that reason was the government ensuring its own survival.
But that doesn't mean its fair, unfair, or possible for the smaller ones. Fair is just the other guys ideal.
With radio shacks turnover, all they have to do is stop hiring for a year and they'd be gone anyway. Sometimes, a business
never addresses its business model enough and goes out of business. Like all those bad restaurant shows that aren't customer oriented,
or serving the food that people want.
anyone !!! Individuals and corporations are aware
that prior to opening any business, they know the
risk and rewards of running a business. If they
succeed, good for them, if they fail, it's on them.
<< <i>We should not use tax payers money to bail out
anyone !!! Individuals and corporations are aware
that prior to opening any business, they know the
risk and rewards of running a business. If they
succeed, good for them, if they fail, it's on them. >>
When I was representing manufacturers in the retail trade one could often smell trouble before the customer collapsed. It put you in an uncomfortable position. If you cut of the credit, you could kiss the customer goodbye for a long, long time if they survived.
If you shipped and they went down, you lost a substantial amount of money.
Wal-Mart is no doubt "to big to fail" and as a buyer, would get better terms than say a K-Mart or Radio Shack which would most likely go down with little attention from DC.
So much for the even playing field.
Typical Radio Shack customer - salesman interaction.
Hey buddy , I'm buying a 9 volt battery I not giving you my name address phone number and SS# mkay?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Personally I wouldnt have cared less if GM went under and all its retirees lost everything. The unions destroyed Detroit.
However, newly hired auto workers do start out at much lower wages and have fewer benefits than those hired a decade ago.
Was not Radio Shack mismanaged? Im sure there are many companies that would take up their slack.
How about this......maybe we should blame the American people for buying electronics online instead of driving to Radio Shack. No wonder oil consumption is down. And less wear and tear on their cars. And soon less demand for cars. Oh no, GM will need to be bailed out again!!!!
Damn innovation. >>
I think you MAY have overlooked the point......... the Govbermint should have stayed out of it from the get go........ jus sayin...
"maybe we should blame the American people for buying electronics online instead of driving to Radio Shack."
and to this... that would be Al Gores fault for inventing the internet wouldn't it?
<< <i> To quote Orwell, "some animals are more equal than others". >>
I believe no business is "too big to fail." If you work for a company that is sinking, and you are too blind to jump ship before the $hit hits the fan, that is your loss. It's happened to many, many people over the years in quiet desperation. Most of them found another job and moved on. Some retired. None were bailed out with my tax dollars. Now if your company tells its employees that everything is FINE and DANDY, and there are no visible signs of imminent failure, then the company operators should be held accountable (can anyone say ENRON?). But I believe it is the responsibility of every employee to keep tabs on their employer's quarterly earnings reports, stock ticker, etc. Listen to NPR, it's free for pete's sake. Read the writing on the wall. I'm sure many people quit before the bailout was announced.
Funny thing about RadioShack vs online retail... sometimes you need it right away and can't wait 3-5 days for shipping. Recently I was on the road for an out-of-town gig and needed a MIDI cable pronto. RadioShack is the only store that sells them. Office Depot, Office Max, Target, GameStop, Wal-Mart, and even some computer repair stores I visited were all a BUST. Internet may be great for many things but was no use to me that afternoon. And for the record, the only reason I stopped at those other stores is because they were closer. RadioShack was farthest away but worth the trip.
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The two employes there were not only worthless but goofing off----like a teen boyfriend and girlfriend. There was hardly anything in stock and the aesthetics of the store sucked. I walked away with nothing.
If your not going to keep up with the times and update your image your product will eventually be pushed out of the market.
Maybe they should have stayed with leather.
Hmmm.... The last store I was in last month my first impression was, " How does this place stay in business?"
I've been thinking that since about 1995. Radio Shack is like some vortex of Soviet capitalism where no customers and sky-high prices somehow equals good business. It's not hard to tell those workers that their business sucks and that they'll be better off at the Jamba Juice 2 stores down.
In the 1970's the business got hot with the CB radio craze. They sold more
CB's than anyone else.
In 1977, Radio Shack sold more computers than Apple.
In the 1980's they were the go to place for CD players and VHS recorders and tapes.
In the 1990's they made tons of $ as new customers were getting their first cell phones and
the wireless service providers were paying big money to resellers.
By the late 1990's Radio Shack was booming as it was expected that the Internet boom would
create sales of peripheral software and devices. The stock was in the $70's. That didn't happen.
That's it. No more lives. No bailout.
GM and Chrysler were bailed out in part because the US needs that manufacturing capability. In the event
of war we need to be able to make military vehicles.
<< <i>gov't ultimately spent about 11 billion to save over a million jobs. while i agree in principle that bailouts aren't the best use of taxpayer money, I would imagine that the net effect of this (income tax revenue on those million workers plus a lack of unemployment expenditures to the same) probably made this a highly net positive activity from a financial perspective. >>
Apologists for communism can always find a good reason.........
<< <i>
<< <i>gov't ultimately spent about 11 billion to save over a million jobs. while i agree in principle that bailouts aren't the best use of taxpayer money, I would imagine that the net effect of this (income tax revenue on those million workers plus a lack of unemployment expenditures to the same) probably made this a highly net positive activity from a financial perspective. >>
Apologists for communism can always find a good reason......... >>
Local Man Deflects Fact By Blowing Dog-Whistle. Having a little trouble understanding your position. is it:
1) Gubmint bailed out the auto industry, so they should bailout Radio Shack too. Moar bailouts for all!
2) Gubmit shouldn't bail out nothin. They not bailing out Radio Shack (which I want), but I still mad because communism.
3) Assistant to the General Manager, West Havermill Radio Shack
<< <i>
<< <i>
<< <i>gov't ultimately spent about 11 billion to save over a million jobs. while i agree in principle that bailouts aren't the best use of taxpayer money, I would imagine that the net effect of this (income tax revenue on those million workers plus a lack of unemployment expenditures to the same) probably made this a highly net positive activity from a financial perspective. >>
Apologists for communism can always find a good reason......... >>
Local Man Deflects Fact By Blowing Dog-Whistle. Having a little trouble understanding your position. is it:
1) Gubmint bailed out the auto industry, so they should bailout Radio Shack too. Moar bailouts for all!
2) Gubmit shouldn't bail out nothin. They not bailing out Radio Shack (which I want), but I still mad because communism.
3) Assistant to the General Manager, West Havermill Radio Shack >>
Wrong on all 3, Miklia.
Sorry for the confusing OP. Let me make it clear.
The government has absolutely no business meddling in private business. None!
There are several reasons. Invariably those in power choose winners and losers. Bank of America wins, Bear Stearns loses. General Motors wins, Radio Shack loses.
One would ask what the criteria for saving one business over another might be. Altruism, benevolence and the most bang for the buck might be good reasons, but these are clearly not the traits of most folks that represent us. Examples, a recent president and his wife left office broke and are now worth $100,000,000. A few books were penned by them but face it, 90% of the money came from less transparent ventures.
Recent Federal reserve chief is "earning" $250,000 per night to schmooze with his Wall Street buddies. Would one be a cynic to wonder if that may be a payoff from those that he made extra super wealthy with questionable and reckless monetary policy?
Former Treasury Secretary now occupies the CEO's office at a prestigious brokerage firm. Remember, this fellow was in on which financial firms were to sink or survive.
Whether Wal-Mart or Radio Shack, if you cannot compete and you reach insolvency, it is time to fold. It is insidious to confiscate tax dollars from employees of a successful firm to save those that are incompetent.
but since RS wasn't bailed out - paralleling your desires - shouldn't you be happier and praising the current gov't for learning it's lesson on bailouts and making the right decision?
<< <i>radio shack never, ever would have gotten bailed out in any scenario so your comparisons are pointless, and your 2008 bank rant has no relevance to today.
but since RS wasn't bailed out - paralleling your desires - shouldn't you be happier and praising the current gov't for learning it's lesson on bailouts and making the right decision? >>
Government has learned no lesson regarding bailouts. Trust me, the next financial loans are being prepared now for when the huge low interest carry trades collapse. If the Chinese become problematic and trade issues put Wal-Mart or most likely Target on the ropes, prepare for another round of "free" money.
You are correct, Radio Shack would most likely have not been a bailout candidate. Do you not see the problem, Miklia, where we have at least two tiers of private business? The big boys are protected with money from the smaller guys, with the loot being doled out by politicians with at best, questionable character.
I lost a business in 1994 when my largest customer, a retailer with a billion dollars in sales and perhaps 7000 employees folded. Cost me a lot of money but that is how business is supposed to work. I had no thought that F&M Distributors should have been saved with my neighbor's money. They expanded too quickly and lost their retail focus. Government though had no problem taking my hard earned money from my new business to bail out the rusting hulks of GM, Chrysler and indirectly Ford.
Please Miklia, in your world of right and wrong, please explain how that makes sense?
Lots of other manufacturers would be delighted to build military vehicles. Humvee was sold to China, so what's that about? Nobody blocked that little transaction. I wonder why?
gov't ultimately spent about 11 billion to save over a million jobs
Union payback. Union pensions. That's about it, and they decided to turn bankruptcy law upside down and screw the bondholders to make it happen. What about those contracts, sold in good faith? It only depends on who has the power. Glicker's observation about communism isn't far off.
It seems to depend much more on who benefits, and not what the laws and legal precedent says. You really do have to ask yourself, "do the laws really matter any more?" That's one bad thing about watching the news and knowing how things are supposed to be, instead of how they are.
I knew it would happen.
Back then, Cedar Falls, IA, Directv marketed the dish and converter box for $200 up front via RS, plus the monthly subscription to DTv.
I still use the dish from Cedar Falls, but DTv made me upgrade my converter box two years ago. I got a free movie reward for doing so. The reward expired. The only reason I have DTv is to watch F1 racing live.
There is a Radio Shack in the town I live in now and have visited once or twice a year for stuff I need.
But EVERY month, DTv takes 65 bucks.
The Paul Harvey, and now the rest of the story for these two companies is self evident.
<< <i>Does anyone really go into Radio Shacks anymore? >>
Most of their action now is mobile phone sales I believe.