Circuit City Death watch

They deserve to go under after that whole firing knowlegable employees thing. And the only time any of us buy games from there is if they have the additional 25% or 33% off clearance games.
 
Interesting.

I agree that cutting experienced personnel was a bonehead move. Sounds like the execs are getting what they deserve.
 
Yea I quit CCity 3-4 months before they did their layoffs to people who got paid too much for their position. These were people who earned raises to get the pay of a higher position. I would have been a part of it. Even while working for them it felt like a sinking ship. I was allowed to give huge discounts just to sell warranty. At times managers would even cheat by putting the warranty on there for free to make our store look like we have huge attachment rates. We were also encouraged to leave the higher price tags on display so we could make it seem like we were discounting TVs.
 
Crap, I have $135.XX in gift cards from Circuit City. Might have to purchase something to save my credit from being worthless like Sharper Image.
 
[quote name='Segasonic01']They deserve to go under after that whole firing knowlegable employees thing. And the only time any of us buy games from there is if they have the additional 25% or 33% off clearance games.[/QUOTE]

and the free $10 gift card for new release
 
CC has been in a death spiral for years. If it wasn't for the large investments made by that Mexican billionaire a few years back they would probably already be gone.

I bet CC execs are really kicking themselves for not accepting the offers from private equity firms to buy the company for $17 a share.

When that offer came in, shares were trading at $8 a share and CC said the offer "undervalued future growth prospects." HA!
 
I was allowed to give huge discounts just to sell warranty. At times managers would even cheat by putting the warranty on there for free to make our store look like we have huge attachment rates. We were also encouraged to leave the higher price tags on display so we could make it seem like we were discounting TVs.
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Sounds like my days at CompUSA...and we all know what happened there...
 
I know a lady who worked at CC for the longest time, then they laid her off 2 weeks before her 20 year anniversary working there. What a shame, I would have been mad if I was in her spot. Anyway, she ended up getting a job a BB right after that because she was a shoe-in for working there because of all her experience. But....CC called her and wanted her back for almost the same pay before they laid her off. She ended up going back because she felt bad for some of her managers (the nice ones) that really needed her help. The bad thing.....the almost 20 years she racked up for CC, went down the drain, totally wiped off her record. So much for retirement! These CC corporate folks, what a bunch of losers! No loyalty to their experienced workers, no severance packages for a lot of em' either. She's got a family to feed too.

Now I think she works for both companies....she's staying at BB in case CC lays her off again. She doesn't care if CC finds out about her working at BB and gets rid of her (again) she says because no matter what she still has mouths to feed and bills to pay. Can't say I blame her.
 
[quote name='BillyBob29']CC has been in a death spiral for years. If it wasn't for the large investments made by that Mexican billionaire a few years back they would probably already be gone.

I bet CC execs are really kicking themselves for not accepting the offers from private equity firms to buy the company for $17 a share.

When that offer came in, shares were trading at $8 a share and CC said the offer "undervalued future growth prospects." HA![/quote]

I remember that as well when i was covering them. Hilarious is all I can say at this point.

They're going down. They're not an institution or brand that has an attachment to it, such as Ford which has been hovering around the $6-8 mark for some time now. CC is at $4 and is echoing dying cries of CompUSA. The article also fails to mention the emergences of Fry's. One of those behemoths can take on 2-3 BBs at one time in an area, let alone these paltry CCs.. Also, Walmart (at least around here) has escalated its electronics department, and I must say that I've been quite surprised at finding some very interesting DVD titles/computers and part there.
 
Die in a fire Circuit City.

Mainly because in all CC locations, all over the country, there is never a person working the register. Also, their receipts are too big.
 
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Take it wit' a grain of salt.
 
I hate to say it but if CC is gone, that can only make BB worse because then they have no direct competition nationwide (those of you lucky enough to have a FRYs around probably don't care regardless).

I've said it before and will say it again, CC overall has been the best to me in terms of clearance and CS. I've heard enough horror stories about CC but the one back home is excellent though I'll admit they're starting to falter. The Best Buy on the other hand has been horrible for ages...
 
I hope CC can become profitable. They are better than Best Buy in every way at least IMO. Better deals on games, Best Buy's game clearances are horrible. The employees are nicer and they have a better selection of games. For GBA for example, my local CC has probably 40+ games, Best Buy has I think 2 or 3.

The only thing BB does better is the penny items like guides and other stuff.
 
[quote name='Vinny']I've said it before and will say it again, CC overall has been the best to me in terms of clearance and CS.[/QUOTE]
Well, ya gotta remember how few consumers actually go in to buy clearance merchandise specifically. You're about the least important customer they have...
 
either way we can agree that CC has the best clearance deals as those are nationwide (unlike TRU or Walmart) I also think CC has the best deals for new release, often offering $10 gift card. The gamer's card is also heck of a deal, 10% off any games.
 
[quote name='IAmTheCheapestGamer']Blogs=not really news or newsworthy=someones OPINION[/QUOTE]

Blogs from financial experts are worth at least a little bit.
 
[quote name='IAmTheCheapestGamer']Blogs=not really news or newsworthy=someones OPINION[/quote]

The difference between a blog and most magazines - not a whole lot.:lol:
 
I try to do my shopping at CC over BB whenever possible, but that's mainly because I like competition and if CC goes out of business then BB will be the only retail consumer-electronics focused store within 20 minutes of my house.
 
Recently, BB rarely has good deals on VG . Imagine what would happen if CC went out of business. BB would have no incentive to offers deals.

No CC = no PMing, no clearance games and no $10 GC on some new releases.
 
[quote name='CouRageouS']We were also encouraged to leave the higher price tags on display so we could make it seem like we were discounting TVs.[/QUOTE]

I experienced this first hand when buying a TV earlier this year. The price at the CC website was $1199 while the price marked in-store was $1399! :bomb:

I've also experienced the new, unexperienced and careless CC managers. They truly don't give a shit. Like a lot of other things it's time for a "market correction" for Circuit Shitty.
 
they were f'ed even way before this article:

Circuit City subsequently closed 70 stores in the U.S., put its 800 Canadian stores on the block, and then laid off the 3,400 workers. To many of his critics, that move demonstrated Schoonover's lack of experience in running stores. "Nobody who has worked in the field would have made the kind of firing decision that Phil made last year," says investor Wattles. "Phil didn't realize that you cannot cut costs and save your way out of deterioration. He didn't have a plan, and that crushed the stores."
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http://www.businessweek.com/bwdaily/dnflash/content/feb2008/db20080229_251654.htm
 
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