Circuit City gives up the fight.

Har har. If Blockbuster wants to keep that ship from sinking, they better fire everyone from individual store managers on up.
 
How does Blockbuster plan to finance this? They are in debt themselves. They aren't going to be able to come up with a billion dollars for Circuit City.
 
[quote name='mtxbass1']How does Blockbuster plan to finance this? They are in debt themselves. They aren't going to be able to come up with a billion dollars for Circuit City.[/quote]

I believe one analyst described this as a "classic clusterfuck" merger.
 
[quote name='mtxbass1']How does Blockbuster plan to finance this? They are in debt themselves. They aren't going to be able to come up with a billion dollars for Circuit City.[/QUOTE]

They will both go down together. In the article, someone has agreed to finance the buy on Blockbuster's behalf.

However, if Blockbuster takes over Circuit City, I expect CC to get a lot fucking worse. Blockbuster is doing this hoping it can use Circuit City's resources to save itself from becoming extinct.

Which is sad, as CC is the one last, decent retail store that does clearances that aren't YMMV, and still occasionally runs good sales on games. Blockbuster is a shitty company which should have gone chapter 11 years ago.

It actually looks like both companies would merge?

The moves almost certainly presage a sale of the chain, likely to Blockbuster (BBI), where Carl Icahn has stepped up and agreed to finance (BusinessWeek.com, 5/9/08) a Circuit City acquisition. The billionaire—Blockbuster's largest shareholder—has bought into a "game-changing" scheme announced last month in which the troubled electronics retailer would be combined with the troubled movie retailer to create a new national chain selling consumer hardware and software.
Click to expand...
 
[quote name='mtxbass1']How does Blockbuster plan to finance this? They are in debt themselves. They aren't going to be able to come up with a billion dollars for Circuit City.[/quote]


Car Icahn, who's one of the richest guys in the world supposedly has some position near the top of Blockbuster and is willing to back it.

I actually think it's a good move. As things stand now both companies are dead, and there's no excuse for that in the electronics industry which could easily support another company that's run well. May as well try, at worst Icahn loses a few of his billions
 
[quote name='Roufuss']Which is sad, as CC is the one last, decent retail store that does clearances that aren't YMMV, and still occasionally runs good sales on games.
[/QUOTE]

Agreed, I can't think of another store that was selling new PS3 games for $6 - $11.xx (33% off clearance last month)
 
I did an accounting report on circuit city for my accounting 2 class. The data i used was from their 2005 financial report i got from my accounting teacher, she used to own CC stock. They've been on a downward spiral for years, even they had to have known this was coming.
 
[quote name='mtxbass1']How does Blockbuster plan to finance this?[/quote]

With sunshine and smiles. And if all else fails, they're finally release the long-anticipated Grimace sex tape, and force people to rent it to view it (with super DRM, or something).

[quote name='Lieutenant Dan']I believe one analyst described this as a "classic clusterfuck" merger.[/quote]

The previous time this phrase was used? Was in regards to Metal Gear Online.

And I'm not even joking, this time. :whistle2:#
 
[quote name='Roufuss'] Blockbuster is doing this hoping it can use Circuit City's resources to save itself from becoming extinct.[/QUOTE]

Sounds like that's coming straight out of your ass -- not based on any available info. Why post if you didn't even bother to read the whole article?

Blockbuster has a lot of deals with a lot of movie, music and game studios. It sounds like Keyes wants to capitalize on Blockbuster's connections in Circuit City's world.
 
Eh, I dunno if things will be better for us. Normally I never find anything worth in Blockbuster with deals (unlike others) and with their prices for the most part on their games...I just have no idea how that will change. Though doubt we will get to see many of those clearanced games
 
Merely delaying the inevitable for both companies. There is a such a market for electronics retailers. Three could definitely compete and survive/vie for position, just not BB. MicroCenter should look to expand. They could easily take over RadioShack territory, and then Fry's could be the second competitor/take on BB in a cinch.
 
Wow, overreact much? It's practically like a thread full of Chicken Littles. All CC has done is enter into agreement to let BB see more of their internal accounting so BB can determine whether they want to advance with the purchase procedure. BB could easily decline to proceed if they don't like what they see. Everyone worrying about gift cards, just settle down. Even if CC were to declare bankruptcy (and bankruptcy doesn't necessarily mean going out of business) it wouldn't automatically negate gift cards. I had GC's for Media Play when they were going out of business and I was able to use them. It all depends on what the individual company decides to do. Just take a deep breath and relax. I work for them and I'm not flipping out.
 
[quote name='neocisco']I work for them and I'm not flipping out.[/quote]


But aren't you worried about winding up in a van down by the river? ;)
 
[quote name='chasemurata']But aren't you worried about winding up in a van down by the river? ;)[/quote]

Too late for that.:lol:
 
[quote name='neocisco']Wow, overreact much? It's practically like a thread full of Chicken Littles. All CC has done is enter into agreement to let BB see more of their internal accounting so BB can determine whether they want to advance with the purchase procedure. BB could easily decline to proceed if they don't like what they see. Everyone worrying about gift cards, just settle down. Even if CC were to declare bankruptcy (and bankruptcy doesn't necessarily mean going out of business) it wouldn't automatically negate gift cards. I had GC's for Media Play when they were going out of business and I was able to use them. It all depends on what the individual company decides to do. Just take a deep breath and relax. I work for them and I'm not flipping out.[/quote]
Well according to the article above, Chapter 11 bankruptcy treats gift cards as a loan to the company, not as cash. So they could at least refuse to accept them for a while.
 
It's a shitty, always-disorganized store that actively makes it difficult to buy things (nobody at the register? The fuck?), but I prolly wouldn't want to see it go just because they actually have the occasional deal. It's nice taking $10 off the price of stuff like The World Ends With You a week after release.
 
[quote name='neocisco']Wow, overreact much? It's practically like a thread full of Chicken Littles. All CC has done is enter into agreement to let BB see more of their internal accounting so BB can determine whether they want to advance with the purchase procedure. BB could easily decline to proceed if they don't like what they see. Everyone worrying about gift cards, just settle down. Even if CC were to declare bankruptcy (and bankruptcy doesn't necessarily mean going out of business) it wouldn't automatically negate gift cards. I had GC's for Media Play when they were going out of business and I was able to use them. It all depends on what the individual company decides to do. Just take a deep breath and relax. I work for them and I'm not flipping out.[/quote]

Let's see, waste and give free money to CC, or capitalize on something you have before it's gone. I'd go with the latter. Just use what you have now...you're going to have to buy with it no matter anyway.
 
[quote name='zewone']Buy some XBL point cards.[/QUOTE]

Yeah, good idea. I'll probably do that. I have over 4000 at the moment but it's not like I won't need them for Rock Band eventually anyway.
 
[quote name='Chacrana']It's a shitty, always-disorganized store that actively makes it difficult to buy things (nobody at the register? The fuck?), but I prolly wouldn't want to see it go just because they actually have the occasional deal. It's nice taking $10 off the price of stuff like The World Ends With You a week after release.[/QUOTE]

Bingo.

So I take it the disorganization and 5-6 people standing around not doing anything isn't unique to my store.

I swear you need to know a password or something to get someone to work the register. Or a secret handshake or secret hand sign or something. Maybe a symbolic tribal dance? I can't ever fucking figure it out.

However, when they sell stuff cheap or have unadvertised sales, I find the place quite excellent.
 
[quote name='Strell']Bingo.

So I take it the disorganization and 5-6 people standing around not doing anything isn't unique to my store.

I swear you need to know a password or something to get someone to work the register. Or a secret handshake or secret hand sign or something. Maybe a symbolic tribal dance? I can't ever fucking figure it out.

However, when they sell stuff cheap or have unadvertised sales, I find the place quite excellent.[/quote]

:lol: Same at my store when I went on Sunday, I had to go to customer service to get someone on a till, awesome.

I hate CC but they do throw out a good deal now and again so they would be missed.
 
wooo GO STOCK GO

just invested 2750 bucks into BBI ( 1000 shares at 2.75 each)

news is this stock could see 8 to11 bucks very soon..... Seems like a nice pop today

Closed at 2.80 Ask is already 3.05


Tempted to dump it today and take the quick 300 buck profit and buy a wii outof it
 
[quote name='tcrash247']Damn, and I was hoping all the CCs would just close down.[/QUOTE]

I wish the same especially after the gay treatment during the cheap 360 points cards.

At the same time we'll never see a kick ass clearance, cause Best Buy is always YMMV.

No wait, Target clearances their games better then anyone else, and PC games go cheap eventually anyways.

Die CC. DIE! VIVA LA SPEEDY!
 
[quote name='slidecage']wooo GO STOCK GO

just invested 2750 bucks into BBI ( 1000 shares at 2.75 each)

news is this stock could see 8 to11 bucks very soon..... Seems like a nice pop today

Closed at 2.80 Ask is already 3.05


Tempted to dump it today and take the quick 300 buck profit and buy a wii outof it[/quote]


You can afford to buy 1000 shares of a shitty stock (blockbuster), but you can't afford to buy another car to get to/from work? Have you finally given up the paper route?

Awesome.
 
[quote name='mtxbass1']You can afford to buy 1000 shares of a shitty stock (blockbuster), but you can't afford to buy another car to get to/from work? Have you finally given up the paper route?

Awesome.[/QUOTE]


I own 3 cars all shitty cars but still 3 cars


got 2 fixxed one still has a cracked axle

up to 3.10 what would be 3100 - 2750 = 350 buck profit for 1 day is a nice profit
 
[quote name='slidecage']I own 3 cars all shitty cars but still 3 cars


got 2 fixxed one still has a cracked axle

up to 3.10 what would be 3100 - 2750 = 350 buck profit for 1 day is a nice profit[/quote]

Minus the commissions you had to pay to buy the stock, minus the fee you'll have to pay to sell the stock, minus the taxes you'll have to pay on the capital gains.

Keep dreaming about that Wii.
 
[quote name='mtxbass1']Minus the commissions you had to pay to buy the stock, minus the fee you'll have to pay to sell the stock, minus the taxes you'll have to pay on the capital gains.

Keep dreaming about that Wii.[/QUOTE]

2750 to buy stock
12 bucks commission

total 2762


stock at 312 per share

3120 - 12 to sell = 3108 = 2762 = 346 - 15% tax = 294.10

so if i sold right now 294 bucks profit in 2 days .
 
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