I’ve seen Rite Aid on these list for at least the last two years 09 and `10, but so far it hasn’t gone under.
Every Rite Aid I’ve ever gone into is fairly devoid of customers, but CVS, being a fairly local company here, has a nice stranglehold on that space.
If this comes true, I’m glad I never heard back from their recruiter that wanted my résumé!
Heck, there aren’t that many soap operas left, AFAIK, so this would seem to make sense.
Corn Pops? The Kiddo will *not *be happy…
I use Rite Aid occasionally, when it is more convenient than the other companies. (One of the drugs I take cannot have refills on it, so I get a fresh 'script every month and go where ever is closest to where I’ll be that day.)
It has been really common for them to not have drugs in stock. I have run into this only once at any other pharmacy. I can’t tell if this means that they can’t afford to keep well-stocked or if it means that they are frequented so often that they run out more.
I confess that I *am *surprised to see them stay open, they have been on the brink for years. Their stock went from the mid 50s in the '90s to 1.20 now (and at one time they were below a dollar.) Somehow they keep on keepin on.
There are several here that I will miss (or not) –
- Sony Pictures
A lot of fantastic movies are branded as Sony Pictures Classics. Of course, I expect that these libraries will be sold off and Sony Pictures will survive under a different name. Of course, I never warmed to the name “Sony” anyway. It’s Columbia Pictures, and I’d be happy to see the new owner use that name again.
- A&W fast food places (the root beer will survive)
A&W has some of the best junk food, especially their fried cheese curds. And I have always liked the root beer keg.
- Sears they invented “internet shopping” before the internet and then let it go. Idiots.
I really don’t know where I’m going to buy major and smaller appliances. Home Depot and Lowe’s don’t carry as big a range of options.
- Kellogg’s Corn Pops (Is there no hope for Choco-Frosted Sugar Bombs)
That is one damn tasty breakfast cereal, although I can’t remember the last time I had it. Of course, I used to have it under its original name “Sugar Pops.” (I also remember “Super Sugar Crisp.”)
Every Rite Aid I’ve been in is, frankly, filthy. They look like Revco used to before CVS bought them out (Revco was substantially larger than CVS at the time).
The problem with an article like this is that it assumes that just because a company is currently not doing so well - or doing somewhat less well than it used to do – it is in danger of closing. That may or may not be true, but it needs much more evidence then that. Companies can be losing money for years, maybe even decades, without closing. Just look at the airline business.
ETA: I myself worked for a company that lost money for many years in a row. It did not close, in fact right now it is doing well.
Does anybody shoot film anymore?
I can’t, and don’t want to, fathom a world without Sears.
Assuming you meant Kodak. This would normally be a prediction I could get behind, but this story on NPR shows what is likely to be Kodak’s future; less of a manufacturing company, more of a patent (and patent-infringement lawsuit) holding company. They’re making a decent amount right now from licensing, and stand to make a ton more if the current litigation is found in their favor.
I have this to say about that. {Ahem}… Hahahahahahahahaaaaa!
You really think Nokia’s partnership with Microsoft is going to save them? Two sinking ships grasping at each other for dear life. Yeah, that’s smart.
The last Windows phone sucked, was ugly, had a childish interface, and was resoundingly dismissed by the public. Why would anyone put any faith in a Windows run device if there are better alternatives? The writing is on the proverbial wall for MS anything, except for Office. I don’t see how they turn their declining perception around at this point.
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Sony Pictures - That’s somewhat of a surprise, but I think we’re headed into an entertainment era where the large production companies will not survive in their current forms for much longer anyway.
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A&W fast food places (the root beer will survive) - I thought they were already gone.
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Saab (A shame, I like Saabs with big clunky buttons. - I used to like Saabs as well, and almost bought one in the late '80s, but I thought they were gone as well. I don’t remember the last time I saw a Saab on the road, and they used to be so ubiquitous.
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American Apparel never heard of it. - I’ve heard of it, but don’t follow brands and, as far as I know, I’ve never owned any of their products.
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Sears they invented “internet shopping” before the internet and then let it go. Idiots. - So you’re saying Sears won’t exist by the end of 2012? Now that is a surprise, if true.
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Sony/Ericson mobile telephones - Another entity I thought was already gone.
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Kellogg’s Corn Pops - Wow. Where will I get my fix of cereals that leave a sickening aftertaste now?
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MySPace - My what?
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Soap Opera Digest (With the internet reach housewives, it is doomed. How does TV Guide stay in business?) - SOD is just another pebble in the continuing avalanche that will eventually engulf most print media, including TV Guide.
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Nokia (In a decade will that annoying ring tone still be in our heads?) - Many bad business decisions will bite ya in the butt eventually.
Actually there is an A&W fast-food place at the Bahrain airport. Two more weeks to vacation.
I guess I won’t be buying that Kenmore refrigerator now. Sears is the most surprising name on the list for me since they are known by everyone and have been around forever. The one thing I used to like getting there was paint. I’m just thinking of all those mall anchor stores…what would replace them?
The article also links to this disheartening set of predictions. (Office Depot? Sara Lee?)
American Apparel mostly has a PR problem.
It sells American made, decent quality cotton yoga/workout/casual wear to hipsters. The product and price point are decent.
However, their advertising was always controversial.
Hipsters, while appreciating sweatshop free fashion and a bit of “edge”, will boycott alleged rapists and misogynists faster than you can say “not cool” once the lawsuits start flying.
What about Kenmore appliances which are sold exclusively at Sears? How will they be affected? Will I still be able to get my Kenmore dishwasher and fridge serviced?
They had 20 billion dollars in profit last year. I think they’ll be OK.
I’ll miss getting the frosty mug at A & W, and filling it from the tapper at the condiment table.
Of course, I only did it about twice a year, but still…
Yeah, most people that have been speculating that Microsoft is in the gutter are of two types:
- People who think share price is the only reflection of company value. Microsoft’s share price is fine, but a few of its investors have been bitching because the value of their holdings has not significantly increased the same way Apple’s has over the past few years. (Just by the by, the perception is Google is an up and coming titan but evidence right now is they are in far worse shape than Microsoft and their stock has tanked substantially this year.)
This is essentially wrong because people still make a lot of money holding Microsoft shares. Microsoft shares haven’t been “growth technology” shares since the mid-1990s, it’s a pure blue chip share now. In some ways as an investor holding shares in an IRA I actually prefer Microsoft to Apple shares because Microsoft actually pays quarterly dividends which you can reinvest and grow your holdings. Apple shares are on my portfolio but because they never pay dividends if their share price tanks then holding it through all of its meteoric rise over the past 10 years would have benefited me very little especially as I’m nearing retirement age, but the dividends I’ve taken and reinvest from Microsoft will have lasting impact on my IRA even if Microsoft itself has a massive drop in share price.
- People who judge a major technology company 100% based on individual consumers. Individual consumers haven’t embraced Microsoft’s cloud offerings, their consumer electronics (Zune), or their smartphone operating system (although reviews of Windows Phone 7 that I have read, despite what was said above, have actually been positive. But the problem is the reviewers consensus is that WP7 still needs to catch up with Android and iOS and that puts it in a very bad position.)
It’s sort of like saying IBM is swirling around the toilet bowl because you can’t buy an IBM PC or laptop anymore. In actuality selling those lines off to lenovo was one of the smartest things IBM ever did.
There are many similarities between Microsoft right now and IBM in say…1985. Note I didn’t say 1993. By 1993 IBM’s problems were real. In 1985 some people were starting to say at IBM “you know, profits are great, everything is great…but this PC business, it could really undermine our mainframe business if enough companies start buying lots of PCs and have their employees use them instead of terminals attached to our super expensive mainframes.” Mostly however the voices saying that in IBM were ignored precisely because the balance sheet was so strong at that point, it wasn’t until the crisis was real that action was taken. Fortunately for IBM they have survived and are still a very strong company. They’ve successfully rebranded as an IT services and consulting company.
(Don’t let that rebanding fool you though, while hardware sales of mainframes are now a small portion of IBM’s operating income when you factor in all the support contracts for mainframe systems it is still around 40% of their bottom line–but that used to be the bulk of their business.)