UPDATE 10/16: Movie Gallery files bankruptcy, GameCrazy stores NOT affected

ok Lets get something straight here. I work for game crazy and i am a store manager who has been here for a VERY long time. Ive known about all the problems with the company for quite some time but please listen, GAME CRAZY IS NOT CLOSING!!!!!!!!! downsizing the low revenue stores YES but not closing. Our company is making money and lots of it. We are not allowed to talk about options but us managers are not left in the dark about our company. Downsizing will help movie gallery,and why keep a store open that dosent make money when next year we can open new ones that WILL make money. There is a plan here and yes, movie gallery has a debt they need to take care of. Look at other major retailers that were in trouble. Hell, look at blockbuster 2yrs ago. Just dont freak out and stop going to our stores or YOU will be the reason why we close. WE will have all the games we need this year and all your presells of halo etc, just be loyal and keep us open.
 
[quote name='SYMBOLIC']ok Lets get something straight here. I work for game crazy and i am a store manager who has been here for a VERY long time. Ive known about all the problems with the company for quite some time but please listen, GAME CRAZY IS NOT CLOSING!!!!!!!!! downsizing the low revenue stores YES but not closing. Our company is making money and lots of it. We are not allowed to talk about options but us managers are not left in the dark about our company. Downsizing will help movie gallery,and why keep a store open that dosent make money when next year we can open new ones that WILL make money. There is a plan here and yes, movie gallery has a debt they need to take care of. Look at other major retailers that were in trouble. Hell, look at blockbuster 2yrs ago. Just dont freak out and stop going to our stores or YOU will be the reason why we close. WE will have all the games we need this year and all your presells of halo etc, just be loyal and keep us open.[/QUOTE]


Dude you can say all you want to say, and no offense to you. The walk in movie rental business is dying slowly and painfully. 99% of the Gamecrazy's are tied to those debt creating Hollywoods. You can move them to another part of town and you would have the same result. No matter how nice the staff is and how good the selection, you can't compete with sitting on your ass at home and pushing a button to watch the movie you want especially if its cheaper. Unless your GC is pulling such wicked comps that you can cover what your Hollywood is losing (or will start losing) then your store is going to die too. Now closing the HW/GC and opening a stand alone Gamecrazy in another part of town, now that could work. Rememeber except for some general assholery demonstrated by some DMs/RMs Gamecrazy way rocks over EB/GS. Gamecrazy in its current state is chained to the brick and mortal movie rental industry which is currently uncompetitive with online offerings and discount stores cheap ass offerings. If Movie Gallery were to close all the unprofitable stores, the company would be a shadow of itself.
 
Breaking news..........

Movie Gallery has been given an extension on their loans until...............Aug 27th!
 
MovieGallery filed for a chapter 11 because Hollywood Video didn't meet the goals they set. So they had to get with whoever they took the loan out with and make changes to make sure they would do better next quarter. GameCrazy was apparently the only part of the company that banked money. So they started E4, which is basically a stepping stone to becoming GameStop. They almost never get games in on time and the people who work there are usually idiots, they hire people who can sell over hardcore gamers. If they can do both of those things then okay, but if they can't sell then you're as good as gone. It's competitive in a bad way because almost every manager cheats to get on top, while hard working employees have to deal with getting bad pay. They even changed it to where managers get commission for what other employees do in that store, but why? So they have more of an incentive to fire somebody if they aren't making great sales everyday. Employees are written up if they don't greet every customer, but I don't really want to be nagged when I walk through that door, and even if they recognize the person they have to go through the whole routine. But honestly what it all comes down to is they stopped classic games... and that was really the only thing that kept from being any different than Gamestop.

So ,honestly, what would change if Gamestop bought them now?
 
[quote name='uglyteradon']MovieGallery filed for a chapter 11 because Hollywood Video didn't meet the goals they set. So they had to get with whoever they took the loan out with and make changes to make sure they would do better next quarter. GameCrazy was apparently the only part of the company that banked money. So they started E4, which is basically a stepping stone to becoming GameStop.

Honestly, what would change if Gamestop bought them now? Basically a lot of corporate douche bags would be out of a job... which would be awesome anyway.[/QUOTE]

A lot... GC has the best trade-in prices normally, and their employees for the most part aren't fucktards like GS/EB ones.
 
[quote name='A Happy Panda']A lot... GC has the best trade-in prices normally, and their employees for the most part aren't fucktards like GS/EB ones.[/quote]

E4 is weeding out all the good employees, so eventually it's just going to get worse. I don't know if it's just because the District Manager is so competitive in this area but there is only one out of four in my area that I even like going too. Trade depends on how much merchandise comes into a store, if they have a lot of copies then the value is decreased drastically. I just don't see that big of a difference but I guess I just haven't really been shopping at GS in a long time. I just miss the days when I could buy SNES games at good prices and I wasn't molested by corporate BS the second I walked in the door. I mean at least at places lke Best Buy you can just be rude and not respond but it's awkward in such a tiny area.
 
[quote name='uglyteradon']E4 is weeding out all the good employees, so eventually it's just going to get worse. I don't know if it's just because the District Manager is so competitive in this area but there is only one out of four in my area that I even like going too. Trade depends on how much merchandise comes into a store, if they have a lot of copies then the value is decreased drastically.[/QUOTE]

True. But I'm pretty sure GC matches competitors for trade-ins...
 
thats really good to hear, SYMBOLIC. i for one will continue to support your company. i did yesterday. bought 3 copies of persona 3, new ps2, persona guide. i hope GC will continue to grow. just make sure you guys get rid of idiot employees that could easily tarnish your name as a whole.
 
[quote name='A Happy Panda']True. But I'm pretty sure GC matches competitors for trade-ins...[/quote]

They have to call the Disctrict Manager to get permission to do any price alteration.
 
[quote name='hegor']Dude you can say all you want to say, and no offense to you. The walk in movie rental business is dying slowly and painfully. 99% of the Gamecrazy's are tied to those debt creating Hollywoods. You can move them to another part of town and you would have the same result. No matter how nice the staff is and how good the selection, you can't compete with sitting on your ass at home and pushing a button to watch the movie you want especially if its cheaper. Unless your GC is pulling such wicked comps that you can cover what your Hollywood is losing (or will start losing) then your store is going to die too. Now closing the HW/GC and opening a stand alone Gamecrazy in another part of town, now that could work. Rememeber except for some general assholery demonstrated by some DMs/RMs Gamecrazy way rocks over EB/GS. Gamecrazy in its current state is chained to the brick and mortal movie rental industry which is currently uncompetitive with online offerings and discount stores cheap ass offerings. If Movie Gallery were to close all the unprofitable stores, the company would be a shadow of itself.[/QUOTE]

Good reply and yes, my store for one is doing some major comps as well as my hollywood. The rental store is a dying breed i agree. However, thats a simple fix when its needs to be. A buyout, a sublet, and a drywall can fix the problem. That wouldnt need to take place for a few more years. As long as some stores are making money, they will take forever to close. No business owner will just go bankrupt and lose all the net worth without a fight. That could buy time to make the moves that can be positive. Anyhow, think about quality over volume. We have always been a business that strived to be better than the gamestops and the eb's of the world. and yet as small as we are, you guys on here seems to know us...and shop with us...and like us better than your average mall videogame store. That my friend is how we will stay in the game. So thanks for all the support in advance you guys. Its gonna be a fun 4th qtr.
 
This E4 thing really makes sense based on how fakey some of the newer employees are. It's always the same "friendly" greeting that seems incredibly forced..

And always the same "So, do you like X game series/genre/title?" when you buy something? I bought a $5 copy of Deus Ex on PS2, the dude couldn't even pronounce the title of the game, but still asked me "so, are you a big fan of doos x?

Must be some new script they have to follow. What bullshit. This is coming from a former employee of the wretched chain, and it seems I just saw the tip of the iceberg with this MVP/preorder bullshit.

Seems that gamecrazy will be doing all it can to push away the people who buy the most games by aping gamestop whenever they can, now. All game retail stores are shit, shitty shit shit shit shit that don't need to exist, and WON'T exist anywhere near their current form within ~10 years. All of them except gamestop will go away, and gamestop will become the all consuming media store with movies and games, chomping up local places every chance it gets now that the national chains are gone.

There's my prediction.
 
GameCrazy employees are so stupid. I want to to go ahead and get another PS3 because of the promotion they having, so after they check my slim PS2 and everything the trade for the PS2 was only 6o bones. So I ask him about the extra 50 credits I even point out the flyers on the table and the answer I got was " he doesn't know when the promotion start >
 
[quote name='nonggame']GameCrazy employees are so stupid. I want to to go ahead and get another PS3 because of the promotion they having, so after they check my slim PS2 and everything the trade for the PS2 was only 6o bones. So I ask him about the extra 50 credits I even point out the flyers on the table and the answer I got was " he doesn't know when the promotion start >
 
OK I have about $30 down on both NHL 2K8 for the 360 and Stranglehold for the PS3. Should I (and others with pre-orders pending through Sept.) cancel our pre-orders and buy something else? What can we do to get our money if the credit is through trade-ins?
 
[quote name='uglyteradon']So ,honestly, what would change if Gamestop bought them now?[/quote]
Bye bye classic games. Hello raised used prices. Hello gutted new products. Hello employee played games that are sold as new. Bye bye decent trade-in values.
 
damn, no more going into GC and walking out with a complete mint copy of SMT:DDS Deluxe

now it will be going into GS and walking out with a disc only copy of SMT:N that has been raped
 
[quote name='MSUHitman']OK I have about $30 down on both NHL 2K7 for the 360 and Stranglehold for the PS3. Should I (and others with pre-orders pending through Sept.) cancel our pre-orders and buy something else? What can we do to get our money if the credit is through trade-ins?[/quote]

Cripes, what have I started..

First, I assume you mean NHL 2K8..

and second, there's no rumblings about GC being in danger, I was just saying in the OP if the parent company is low on money... anyway, if stores were to start closing (which at this point they aren't), you'll find it out. It's not like it's going to be sudden, it wouldn't be before the new year or anything.
 
Wow, hows did I miss this enormous thread. Like Scorch says, I wouldn't be worried, YET. Hopefully there will be plenty of warning. But seriously, someone is worried about a couple of $30 preorders? I have over $500 in credit there (thanks to the last 50% bonus trade deal - used it to convert some credit over from Blockbuster as well as generate lots o' new credit)! I definitely need to keep an eye on this situation. Should the need arise I'll dump it into a PS3 ;).
 
[quote name='MSUHitman']OK I have about $30 down on both NHL 2K7 for the 360 and Stranglehold for the PS3. Should I (and others with pre-orders pending through Sept.) cancel our pre-orders and buy something else? What can we do to get our money if the credit is through trade-ins?[/quote]

The way bankrupcy and consumer protection laws work, you would be given a window in which you could redeem your credit. I earlier in this post advised get your credit out now, but since I looked up other store closures and such you would be ok to keep your pre-orders. Just check on the health of Movie Gallery every so often, like maybe once a week. Just type Movie Gallery into google and then select news and you 'll see financial analysis of Movie Gallery. This is how I came to the decision to leave Gamecrazy (in addition to the more money my new gig pays). No offense to the people on here who continue to love working at GC but dumb things like E4 are a direct result of what I call "bean-counter desperation". It was all about building relationship with my guests. They got to know the store, its services, and culture. My regulars were varied and many. Soccer moms to cheap ass gamers to gratuitous spenders. I always had the best revenue store in my district because it was a great place to shop not because of the MVP card or 12 free rentals or every guest everytime. No of this E4 shit. We politely mentioned pre-orders and mvps, and never grinded anyone.

I have an ambivalence towards this mess Movie Gallery is in. On one hand because of the dumbasses who put GC in this mess it can't die soon enough. On the other hand, there are so many people I know who work so hard to make guests happy and just want to make an honest living working around the coolest hobby next to sex, and to see them suffer really sucks. It would be nice to show them support. So I don't know what to tell you, shop at Gamecrazy and if you get a good experience show some love and call 1-8speaktous and say how cool it was. If you get a dumbass then call the same number and give them hell. That is one thing this company does right, both compliments and complants get seen by lots of corporate types. If you give lots of honest feedback it will make it hard for a DM to drop the hammer on a guy who works hard to please you but just isn't lucky selling the MVPs.
 
[quote name='guinaevere']Never? I've seen your avatar here and there. But since you asked so nicely, this is who I am.
[/quote]

Picture's too dark, Gwen (though I suspect that is intentional to somewhat hide your identity ;)).

It really depends on the final word from their lendors. I don't know if they'd close right away, but I wouldn't waste time holding onto credit ifyou have any.

OK, I went back and read the first few pages and it seems all doom and gloom until Scorch's latest post. Man, I'm going to have to go into my local store because it is close to the old Hollywood corporate offices (they always have new games from corporate traded in as used) and see what's up. I haven't been there in a few weeks but this store is usually booming... I have over $200 sitting there and more on gift cards. This store has the best game store employees I've ever known (as a group, though my favorite EB is close) and they even hired one of the out of work Gamerush guys recently.

I'll pretty much just have to stop playing games if I lose Gamecrazy after losing Gamerush this year (the only one within 700 miles closed in March). I can't fathom only having EB/GS to deal with. They've been decent, recently, with their bonus trade-in promos and I've actually got more preordered there as a result (the trade 2 Wii deal mostly) but most of my spare credit beyond that is at GC. And while we had two decent EB/GS trade-in deals this summer they had a huge dry spell before that and GC's normal prices are almost equivalent to EB/GS with a deal. And if GC disappears, there's less incentive for EB/GS to run ANY deals as they basically have no more competetion (NONE around here for sure). I'm too spoiled on getting new releases dirt cheap (with trade-in profit) that regular game retailers are not a consideration (Target, TRU, Best Buy, etc) except for clearance goodies.

I never really went to Gamecrazy when I had access to a GR because GR used to have the best deals and trade-ins. Now that mantle has gone to GC (GR stores that still exist are too unlreliable and they don't have trade-in deals any more anyway). Now that I'm going to GC's it is great because I have access to several in my area. Hopefully the worst that happens is a few locations shut down (and hopefully most of those are GC-less Hollywoods though I don't want my small-town one to close as I have all those free rentals from buying my 360 and I use them there).

By they way, I never heard of this "Movie Gallery" entity before they bought out Hollywood. Out here (Pacific NW) there are dueling Hollywoods and Blockbusters paired up in nearly every market, though Hollywood definitely has more locations.
 
I was a big fan of Gamecrazy when I heard about their trade-in prices. Then I came in almost every day just trading stuff in and looking to buy. I even got the MVP card. My last visit was total ass though. The manager voided a trade-in I did because "the wrong game was looked up" (bullshit as the kid scanned the UPC, not a name lookup) when in all actuality I believe it's just because he thought the trade-in value was too high. Then when I decided to use the remaining store credit, they told me I owed *them* money because they "forgot" to add in my trade-in credit. They balked at first at me wanting that two dollars. After they figured out that they just happened to have an extra copy of the game I traded in, they gave it to me.

If that's how they treat a new regular customer like me then fuck them. Even with all their price-jacking, Gamestop still has most games cheaper than they do. What a coincidence that the trade-in value is higher :roll:

Now that they got rid of classic plastic, they're even more worthless. I'm going to use them as a pawn shop when I find good stuff to flip. Other than that I'm just gonna check their "pulse" every so often to see when they go under, pillage what I want, and then be out.
 
Well, davo, to be fair, that sounds like a particularly crappy set of employees, and not anything specific to GC. More people can probably relate bad experiences at EB/GS than GC. I had a pretty crappy time at one GC once (returned a new/sealed game a day after I bought it and the guy tried to give me half my money back because some of the credit was from games I traded. WTF?? They *kept* those games and I paid $40 for the new one - thus I get $40 back. He just didn't get it, it was strange).

But 95% of the time my experiences at GC are good (I just avoid that one store now). And I'm not sure what you mean by higher prices than EB/GS. Generally their used games are $5 less for the newer releases ($49.99 instead of $54.99 for a recent 360 game for example). Their trade-in values are higher despite the fact that they generally sell the game used for the same or a slightly lower price than EB/GS. I can't see any reason to complain about that. EB/GS is utterly useless for trade-ins unless they have some deal to exploit.

It will be a very sad day if GC goes under. But what's the deal? There was a flurry of posts in this thread and now nothing (about any closure or downsizing issues) for several days. I was in my GC this evening and they took a preorder from me for Oct and talked to me about credit expiring in 6 months (they claim it doesn't really). I was fishing for any info they might have on a store closure so I brought that up to see if they'd tell me anything. Nada...
 
[quote name='jer7583']And always the same "So, do you like X game series/genre/title?" when you buy something? I bought a $5 copy of Deus Ex on PS2, the dude couldn't even pronounce the title of the game, but still asked me "so, are you a big fan of doos x?[/quote]That's everywhere. GameStop, GameRush, BestBuy, CC, et cetera. The ones that stand out in my mind are any Ys or something of Mana games. In the bigger retailer stores, I don't mind, I expect a non-gamer to be working the gaming area. But it does irritate me when you have some loudmouth working in an EB talking about how he's so into games and then mis-pronouncing Ico and having no clue that he just did so.

[quote name='hegor']The way bankrupcy and consumer protection laws work, you would be given a window in which you could redeem your credit.[/quote] And if they failed to give that option you'll then wind up with the option to opt-in to a class action or other major settlement. Your claim is usually pennies to the dollars (ie, if you have $200 in credit, you'll maybe wind up with a $20ish cash settlement in a few years).

Not trying to be doom and gloom, but I've seen this happen as well. Don't throw your credit away on garbage purchases, but do consider that now is quite possibly a very good time to use it.

[quote name='io']Picture's too dark, Gwen (though I suspect that is intentional to somewhat hide your identity ;)).[/quote]Not my fault, it was dark in there. :cool:

Man, I'm going to have to go into my local store because it is close to the old Hollywood corporate offices (they always have new games from corporate traded in as used) and see what's up. I haven't been there in a few weeks but this store is usually booming... I have over $200 sitting there and more on gift cards. This store has the best game store employees I've ever known (as a group, though my favorite EB is close) and they even hired one of the out of work Gamerush guys recently.
That's the benefit of being within regular visiting range of HQ. A vigilant eye = better store and better employees.
 
[quote name='io']And I'm not sure what you mean by higher prices than EB/GS. Generally their used games are $5 less for the newer releases ($49.99 instead of $54.99 for a recent 360 game for example).[/quote]
Most of the $5-$10 games at Gamestop are $7-$15 at Gamecrazy. The trade-off is that you get $40 games at Gamecrazy that you'd find for $45 at Gamestop. That might help some but I haven't spent that much on a game since Majora's Mask, especially when there's good deals to be head only a few months later. Then you'll just have your oddities at Gamecrazy that aren't based on any franchise tie-ins. Why the hell does Mario Party 5 cost more than Mario Party 6 and 7 (which are the same price)?

Their trade-in values are higher despite the fact that they generally sell the game used for the same or a slightly lower price than EB/GS.
Again that really only seems to be the case as far as high-priced games and since they don't do tie-ins with their games (Metroid, Halo, Mario, etc.)

I can't see any reason to complain about that. EB/GS is utterly useless for trade-ins unless they have some deal to exploit.
True that but if you wait for those deals, then it's a lot more beneficial to me atleast. I waited until Gamestop's "Trade 5 or More, Get 40% Extra (with Edge)" promo and got $39.60 off five of the shittiest games ever. The next week they had the B2G1F.
 
[quote name='io']

snip

But what's the deal? There was a flurry of posts in this thread and now nothing (about any closure or downsizing issues) for several days. I was in my GC this evening and they took a preorder from me for Oct and talked to me about credit expiring in 6 months (they claim it doesn't really). I was fishing for any info they might have on a store closure so I brought that up to see if they'd tell me anything. Nada...[/quote]

I think we're all in wait-and-see mode, GC employees included. If you know a store manager, DM or RM, they might talk to you about it. Latest talk at my local GC is that the Hollywood will probably close, but the GC will take over the space (MG owned, not leased), so no remodeling/drywall/potty installs. They think they might firesale the movies to raise $$$ to keep the GCs running (the MG cash money lifeline). In all likelyhood we'll hear something on or about Monday the 27th (the day creditors gave the extension to).

Then again, maybe not.
 
[quote name='vectorscalar']I think we're all in wait-and-see mode, GC employees included. If you know a store manager, DM or RM, they might talk to you about it. Latest talk at my local GC is that the Hollywood will probably close, but the GC will take over the space (MG owned, not leased), so no remodeling/drywall/potty installs. They think they might firesale the movies to raise $$$ to keep the GCs running (the MG cash money lifeline). In all likelyhood we'll hear something on or about Monday the 27th (the day creditors gave the extension to).

Then again, maybe not.[/QUOTE]

My favorite store is near HQ (the old Hollywood HQ, which I guess is the GC HQ now? I'm not sure but the employees always talk about HQ being near). They told me there today that they would be the first to know and they've heard nothing... Oh well, wait and see I guess.

Fortunately they had a copy of Persona 3 in today, so I managed to spend $50 of my credit. Only near $600 left ;). I may not have picked that up normally, but with there being some question about the future of GC that made it easy. Unfortunately they just stopped their price matching (only this store did it) so I passed on Heroes of Mana and Brain Age 2 (was hoping to get them for $30 and $15). That sucks, as I hoped to get $10 off a lot of the new 360 games this Fall with PMs to CC or Fry's. I guess now I should just hope I can buy them at all from GC :cry:.
 
Unless you have some stuff you really want to get, I'd suggest buying stuff that can be resold easily and for just about the same amount in cash. I made around $18 on Metroid Prime 2 for example after shipping costs even though it only cost $14.50 in store credit.
 
Speaking of Gamecrazy,

Today is Movie Gallery's day of reckoning. I wonder what the future has in store.
 
[quote name='hegor']Speaking of Gamecrazy,

Today is Movie Gallery's day of reckoning. I wonder what the future has in store.[/QUOTE]

Hmmm... Well, I'll be in there tomorrow so I'll see if they hear anything at this store level there. This is already affecting the way I deal with my credit though. I would probably have cancelled my Blue Dragon preorder and waited for a price drop or used copy and saved that $60 for better things. But now with the potential issues here (whether it is immediate or drawn out or nothing) I think I'll just pick the damn thing up. I hate spending $60 (even in credit) on a slightly above average game, but...
 
[quote name='icruise']I think Blue Dragon is better than slightly above average.[/QUOTE]

Possibly - the demo was OK but I hear the actual game is better than what was shown there (or, possibly, just not being tossed in mid-game is better). The reviews are all over the damn place though. I like turn-based JRPG's, though, so I'd probably trend towards the higher end of the reviews myself. Still, it is not looking stellar, which is what a game would have to be for me to spend $60 on it ;). But, like I said, with the GC issues going on, I will just pick it up. If worse comes to worse, I can sell it for $45-$50, probably. It's better than losing the credit. Problem is, I will still have a ton more credit left. I may have to start getting more of the soon to be released games like Eternal Sonata and maybe even Bioshock (which I was just going to rent otherwise).

Hopefully, anyway, there will be plenty of warning if anything bad is going to happen. Like I said before, I could always buy a PS3, IF they can be found. That's why I need to stay on top of this and I appreciate the insiders (even if they are now former insiders) adding their comments here. However, I'm not going to do anything rash (like buy a PS3 ;)) just yet until there is some more concrete info. Getting Blue Dragon, though, is a small move I'm making just in case...
 
Movie Gallery was given another extension until September 30th.

Surprising, I wonder if they might have a buyer?
 
[quote name='io']Possibly - the demo was OK but I hear the actual game is better than what was shown there (or, possibly, just not being tossed in mid-game is better). [/QUOTE]
I've played through most of the Japanese version, so I'm not just making this up. YMMV, of course.
 
[quote name='hegor']Movie Gallery was given another extension until September 30th.

Surprising, I wonder if they might have a buyer?[/QUOTE]

Goody goody - more uncertainty ;).

icruise - I've decided I'm going to pick up Blue Dragon (though I guess not till tomorrow - Metroid being out today threw me off, though I ought to call GC just to be sure).
 
[quote name='io']Goody goody - more uncertainty ;).

icruise - I've decided I'm going to pick up Blue Dragon (though I guess not till tomorrow - Metroid being out today threw me off, though I ought to call GC just to be sure).[/QUOTE]

Alas, probably not. How soon I forget that anyone who purchases them now, has to assume the one billion dollar debt. However a buyer who buys Movie Gallery in the middle of bankruptcy proceedings can negotiate the debt with creditors.

Thanks Motley Fool for educating me.

http://www.fool.com/investing/general/2007/08/28/movie-gallery-delays-the-inevitable.aspx
 
I heard rumors floating about.. something about Netflix being interested.. would compete with Blockbusters online rentals and returns.. hm.. this was a while ago though
 
[quote name='hegor']Alas, probably not. How soon I forget that anyone who purchases them now, has to assume the one billion dollar debt. However a buyer who buys Movie Gallery in the middle of bankruptcy proceedings can negotiate the debt with creditors.

Thanks Motley Fool for educating me.

http://www.fool.com/investing/general/2007/08/28/movie-gallery-delays-the-inevitable.aspx[/QUOTE]

Hey, I haven't checked out Motley Fool in, like, 8 years or so. I read their original book and was a daily vistor to their site for a while (much like I am here now). I had no idea they were still around. Their whole core gimmick (the Foolish Four or whatever it was), I thought, pretty much turned out to be bunk.

I guess I'll take a peek over there and see what they are up to. Edit - Meh, they've gone all into the subscription ($$$) based stock tip racket, how disappointing. They used to list their picks publicly. Not gonna work for this cheap-ass ;).
 
[quote name='io']Hey, I haven't checked out Motley Fool in, like, 8 years or so. I read their original book and was a daily vistor to their site for a while (much like I am here now). I had no idea they were still around. Their whole core gimmick (the Foolish Four or whatever it was), I thought, pretty much turned out to be bunk.

I guess I'll take a peek over there and see what they are up to. Edit - Meh, they've gone all into the subscription ($$$) based stock tip racket, how disappointing. They used to list their picks publicly. Not gonna work for this cheap-ass ;).[/QUOTE]

I don't pay them for nothing! LOL! I just read them and a few other sites. Motley Fool tends to write in an amusing fashion.
 
[quote name='icruise']So what's the verdict on a possible Game Crazy sale? Today would be the starting day, right?[/quote]

I just called my local GameCrazy in Eagan, MN, and the guy I spoke with doesn't know anything about a sale..

I kind of feel bad becuase he got a little rattled when I mentioned how poorly their parent company was doing... I totally bummed him out to the max. If he didn't know THAT, though, its possible that the peons haven't been informed yet, and thats all.
 
[quote name='icruise']So what's the verdict on a possible Game Crazy sale? Today would be the starting day, right?[/quote]

A post above stated Movie Gallery has been given another extension on its loans until the end of September. The only 2 games I have reserved at my local GC are Stranglehold CE for the PS3 and NHL 2K8 so hopefully those come out before the end of Sept. since my pre-orders were both in trade-in credit.
 
Movie Gallery filed for bankruptcy this morning. Poor performing Hollywood Video, Movie Gallery and GameCrazy locations will continue to be shut down, but as a company, GameCrazy remains unaffected.
 
I know this probably doesn't fare well for the majority, but I'd like to chime in my two cents here. Haven't seen it posted (or maybe just passed over it), but has anyone mentioned that Movie Gallery owns Blockbuster too?

That means that not only are the GameCrazys in danger, but so are what little of the GameRush stores left. Maybe Movie Gallery will just sell off their stock in GameRush, just like they did with Rhino when MG aquired BB. It's sad, but the internet is just ripping things apart..

Jay
 
[quote name='Scorch']Movie Gallery filed for bankruptcy this morning. Poor performing Hollywood Video, Movie Gallery and GameCrazy locations will continue to be shut down, but as a company, GameCrazy remains unaffected.[/QUOTE]


wonders what the odds would be o f gamecrazys just being stand alone places.

has 329 bucks credit at gamecrazy OUCH
 
[quote name='jaysapathy']I know this probably doesn't fare well for the majority, but I'd like to chime in my two cents here. Haven't seen it posted (or maybe just passed over it), but has anyone mentioned that Movie Gallery owns Blockbuster too?

That means that not only are the GameCrazys in danger, but so are what little of the GameRush stores left. Maybe Movie Gallery will just sell off their stock in GameRush, just like they did with Rhino when MG aquired BB. It's sad, but the internet is just ripping things apart..

Jay[/quote]

I'm pretty sure MG doesn't OWN BB, though they may own STOCK in them, I don't think they OWN them. I may be wrong though.

If that's the case, then two chains may go down the shitter with this one bankruptcy or God help us if Gamestop acquired either Hollywood Video or BB. Then there would be LESS stores for me to go to, even moreso than now.
 
isnt it agasint the law for mg to own stock in blockbuster.

worse thing that will happen


Movie gallery will sell off to Blockbuster the video part
Movie gallery will sell off its Gamecrazy to Gamestop


why would gamestop want to rent movies??
 
bread's done
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