F*cked Company

  • metta

    Posts: 39104

    Jun 15, 2011 2:22 AM GMT
    F*cked Company


    ( Fucked Company - fuckedcompany.com )

    I named this thread in honor of a web site that specialized in giving updates on companies having trouble.



    Diners Kicked Out of Shuttering Marie Callender’s Mid-Meal
    http://gawker.com/5811622/diners-told-to-get-up-and-leave-shuttering-restaurants-mid+meal
  • metta

    Posts: 39104

    Jun 15, 2011 3:02 AM GMT
    RUMOR: Xpedx, North America's largest paper distributor, is shutting down their retail stores and services to small printers. They will continue to supply the big litho houses. Small print shops are dying quickly.

  • metta

    Posts: 39104

    Jun 16, 2011 9:13 PM GMT
    RUMOR: I was just told that Filia, makers of high quality art supplies in Denmark, is out of business. Have not confirmed this yet though.

    http://www.filia.com/
  • metta

    Posts: 39104

    Jun 16, 2011 9:23 PM GMT
    It really has gotten harder to come up with new business project ideas that will be successful in this economy. The risks seem so much higher with the way the economy is. Most concepts really need to have a lot of cash flow to back it up for the long haul.

    I guess there are still a couple of industries that the margins are big enough to make it easier to make it, such as some areas of health care and some areas of the entertainment industry.
  • metta

    Posts: 39104

    Jun 24, 2011 12:48 AM GMT

    Ten Brands That Will Disappear in 2012

    (june, 2011)

    1. Sony Pictures
    2. A&W
    3. Saab
    4. American Apparel
    5. Sears
    6. Sony Ericsson
    7. Kellogg's Corn Pops
    8. MySpace
    9. Soap Opera Digest
    10. Nokia

    http://finance.yahoo.com/family-home/article/112989/brands-disappear-2012-247
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    Jun 24, 2011 12:52 AM GMT
    Nooooooooooo! I gotta have my pops!
  • metta

    Posts: 39104

    Oct 13, 2011 11:25 PM GMT
    Gap closing 1/3 of US stores

    http://bottomline.msnbc.msn.com/_news/2011/10/13/8308229-gap-to-shutter-a-third-of-us-stores-expand-globally?GT1=43001
  • metta

    Posts: 39104

    Dec 28, 2011 12:32 AM GMT
    Kmart & Sears closing more stores as holiday sales slide

    "Sears Holdings Corp will close as many as 120 of its Kmart and Sears discount and department stores after its holiday sales slumped, sending its shares sliding more than 27 percent to their lowest level in three years."

    "The value of Lampert and his hedge fund's stake in the company has plunged nearly 75 percent to $2.25 billion since 2005, when his holdings were worth around $8.5 billion. The stake was worth as much as $12.7 billion in April 2007."

    "Sears' empire was once so sprawling that it owned everything from a radio station (WLS in Chicago) to Allstate Insurance Co and Coldwell Banker Real Estate Group."

    http://www.reuters.com/article/2011/12/27/us-sears-sales-idUSTRE7BQ0AV20111227
  • metta

    Posts: 39104

    Dec 28, 2011 12:42 AM GMT

    From Jan 2011

    http://www.newser.com/story/110005/10-companies-thatll-be-dead-by-2012.html


    Saab USA
    Saab has tried to create a renaissance of sorts. The company was sold to Netherlands specialty carmaker Spyker last year. Spyker took an awful risk, particularly in the U.S. -- because Saab is one of the few car firms that did recover when the U.S. car market expanded last year. The total number of cars and light vehicles sold in America in 2010 was up 11% to 11.6 million.

    Sales of some niche brands surged. Porsche sales in the U.S. were up 29% to over 29,000. Audi sales rose 22% to over 101,000. But Saab sales collapsed -- falling 37% to 5,445. American car companies have also created new lines of vehicles that have begun to sell well, particularly in the middle market where Saab operates. The Japanese still control the lower-price, high-quality portion of the market. And Korea's Hyundai took share from nearly everyone else last year, as its sales rose over 24% to just above 538,000. There's no room in the American market for tiny operator like Saab.

    Office Depot
    The company is running third in a three-horse race with Office Max and Staples. Office Depot also has to compete with small business centers in Sam's Clubs and Costcos. The firm operates on razor-thin margins, while managing 1,150 locations -- which are very costly due to employee and real estate expenses. Office Depot is a strong candidate to be taken over by one of its rivals or a broader retail chain like Target.

    The market is too competitive for Office Depot to stand on its own. A consolidation in the sector would allow a merged operation to cut thousands of people and close hundreds of locations. Operating margins, then, would not be so modest.

    Dean Foods
    The maker of dairy products like Land O'Lakes and Silk has struggled as much as any other large public company this year. The costs of raw milk, butterfat, soybeans and sugar have risen sharply. Dean Foods has also been crippled by debt. The firm's shares were down as much as 60% at one point during the last 12 months.

    Despite all the bad news, hedge fund investor David Tepper bought a 7.35% stake in the company. Dean Foods shares rose 9% after the announcement. Dean has already sold its yogurt business to Schreiber Foods. And Tepper, one of the cleverest investors on Wall Street, has probably bet the balance of Dean Foods will be sold off in parts. Probably the Fresh Dairy Direct-Morningstar and WhiteWave/Alpro business units would draw the most bidders. Watch for Dean to be broken up, to satisfy debtholders and arge investors.

    Frontier Airlines
    The carrier is owned by Republic Airways Holdings and was bankrupt when Republic bought it in 2009. Republic recently merged another of its holdings, Midwest Air, into Frontier. Denver-based Frontier is simply too small to compete in the domestic carrier market -- which has become increasingly dominated by large airlines that are growing due to mergers.

    Wall Street has also become increasingly worried about Republic's future. Its shares are down 13% over the last quarter, while shares in rival JetBlue are up 9% during the same time frame. Frontier's Milwaukee hub, which serves the East and Midwest, and its Denver hub, which serves the West, the South, and Mexico, would be valuable to a larger carrier. Airline mergers and buyouts like the Continental/United deal and Delta's takeover of Northwest are popular in the industry because they allow for personnel reductions and route cuts -- as well as trimming the number of aircraft that have to be maintained. Two airlines together can have a better margin than separately. Frontier is a buyout target; its brand is not.

    Sara Lee
    The company that makes Ball Park hot dogs and Jimmy Dean breakfast foods is already being circled by corporations in similar businesses and by private equity firms -- groups interested in breaking Sara Lee up. Apollo Global Management has recently considered a bid. JBS, the Brazilian meat processor, made an offer that was turned down.

    Media reports say Sara Lee is in the midst of a plan to separate its coffee and meat businesses. If that happens, the new companies may be named Hillshire Farm and Pickwick Tea. A deal to sell off pieces of the firm will probably happen before midyear.

    Borders
    The large bookstore chain is almost gone already. The only question remaining is whether it will be dissolved or sold to a related retailer like Barnes & Noble. It appears Borders has little choice other than to go bankrupt, given its debt and cash-flow situation. Two ominous signs for the bookseller: It says it's unable to pay some of its largest publishers for their books.

    Border's stock also dropped under $1 a share, a warning sign that the shares could eventually be delisted -- that is, if Borders lasts long enough. The company's 500 locations may have value to a buyer, but its name does not, being associated with little more than failure.

    Gateway
    Gateway was bought by Taiwanese PC giant Acer in 2007. Acer is currently the No. 3 PC company in the world after Dell and Hewlett-Packard. The buyout was not unlike the one that China-based Lenovo made of the IBM PC division. Lenovo found the IBM brand was useful for marketing in the U.S., but dropped the name in favor of its own. Lenovo saw no reason to support two brands any longer and wanted to be recognized by its corporate name in the U.S. market.

    Acer, meanwhile, has become an established brand in the U.S. over the last two years, particularly for its netbooks and notebooks -- while the Gateway brand has faded. Gateway is still a stand-alone corporation but will likely disappear this year.

    DollarThrifty
    Dollar Thrifty has a tentative deal to be bought by Avis Budget -- but the FTC has not given the transaction final approval. If the buyout closes, then the Avis, Budget, Dollar and Thrifty car rental businesses will all be under one roof. Dollar Thrifty has lost any momentum in its efforts to expand. The company said in December that it would add 31 new franchises in the U.S. It has 1,550 locations in 81 countries worldwide.

    Ironically, Dollar Thrifty is itself the result of a merger of two companies. Thrifty was owned by Chrysler and combined with Dollar in 1990. Avis should close its takeover by mid-2011

    Answers Corp.
    The online search firm's stock is down 40% in five years. Google, in comparison was up nearly 40% during that period. The smaller company had third-quarter revenue of only $4.5 million, which means it barely has a reason to be a public company. Operating income for the quarter was only $379,000, and its total average page views daily are about 14 million.

    Answers will likely be sold to a company that could use its technology platform and unique visitor traffic. This might include one of the portals or large online content companies like News Corp. The company's market value is only $65 million, which is pocket change for a really large Web company.

    E*Trade
    There are too many big discount brokers in the U.S. There have been persistent rumors that E*Trade will be bought by one of its larger competitors --Charles Schwab or TDAmeritrade. The rumors even caused a large move in E*Trade's options early last month. Broker Collins Stewart downgraded E*Trade shares recently, pointing to problems with loan portfolio growth on the banking side of the online brokerage's business.

    Wall Street's view of the other two discounters is much more positive. The brokerage business has been ideal for consolidation for years. Full-service brokers went through a large number of mergers and acquisitions in the 1970s, 80s and 90s. The reason for the rollups were compelling then as they are now for E*Trade. There are a number of expensive duplicate functions among these companies -- which include marketing costs, trading
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    Dec 28, 2011 12:42 AM GMT
    Looks likes Saab isn't going to quite make it to 2012.
  • metta

    Posts: 39104

    Dec 28, 2011 12:45 AM GMT
    "Many experts believe that the number of retail establishments per capita in the United States was excessive even before the economy recessed. According to the 2007 Economic Census, there were 1,122,703 retail establishments in the United States and a total of 14.2 billion square feet of retail space. That means that there is approximately 46.6 square feet of retail space per capita in the U.S., compared to two square feet per capita in India, 1.5 square feet per capita in Mexico, 23 square feet per capita in the United Kingdom, 13 square feet per capita in Canada, and 6.5square feet per capita in Australia. "

    2011 Retail Store Closings roundup: U.S. Retailers Closing or Liquidating Stores in the 2011 Calendar Year:

    405 Blockbuster

    633 Borders

    200 GameStop

    189 Gap

    160 f.y.e.

    117 Anchor Blue

    117 Foot Locker

    100 Talbot's

    71 A.J. Wright

    69 Metropark

    http://retailindustry.about.com/od/storeclosingsandopenings/a/2011-US-Retail-Industry-Store-Closings-Liquidations-Roundup-Chains-Going-Out-Business_2.htm
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    Dec 28, 2011 12:53 AM GMT
    I know a couple flight schools that'll be going under in 2012.

    I also know who's going to take their students. icon_cool.gif
  • metta

    Posts: 39104

    Dec 28, 2011 12:53 AM GMT

    USPS Delays Any Closings Until May 2012

    This has more to do with technological advances reducing demand for mail than anything else.

    "list of more than 3,600 post offices on the chopping block"

    http://www.jcrecordcourier.com/news/article/49092
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    Dec 28, 2011 12:57 AM GMT
    metta8 said
    USPS Delays Any Closings Until May 2012

    This has more to do with technological advances reducing demand for mail than anything else.

    "list of more than 3,600 post offices on the chopping block"

    http://www.jcrecordcourier.com/news/article/49092
    One would think online shopping has increased demand, but I guess not.
  • metta

    Posts: 39104

    Dec 28, 2011 1:03 AM GMT
    paulflexes said
    metta8 said
    USPS Delays Any Closings Until May 2012

    This has more to do with technological advances reducing demand for mail than anything else.

    "list of more than 3,600 post offices on the chopping block"

    http://www.jcrecordcourier.com/news/article/49092
    One would think online shopping has increased demand, but I guess not.


    It has probably only helped for very small packages. They are way too costly for large packages. I have seen packages that cost $15 with UPS cost $55 with USPS. Shipping large packages has never been their thing anyways. But then again, the USPS is very competitive, often times much cheaper, with their smaller packages.

    But the volumes of decrease in just letters alone, which has always been their main source of money. With all of the online bill paying and people using emails (much more efficient), it only makes sense for them to be hurting from that.

    Rates for UPS are going up 5.6% in January.

    And with freight carriers, it surprises me how often shipping 2 large items to an address can cost around $1,000 just to ship.

  • metta

    Posts: 39104

    May 24, 2012 9:30 PM GMT
    I was saddened to hear that the Bodhi Tree closed down in West Hollywood.

    http://www.bodhitree.com/

    Good to hear that they may have a buyer that will be reopening it though...
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    May 25, 2012 1:22 AM GMT
    metta8 said
    paulflexes said
    metta8 said
    USPS Delays Any Closings Until May 2012

    This has more to do with technological advances reducing demand for mail than anything else.

    "list of more than 3,600 post offices on the chopping block"

    http://www.jcrecordcourier.com/news/article/49092
    One would think online shopping has increased demand, but I guess not.


    It has probably only helped for very small packages. They are way too costly for large packages. I have seen packages that cost $15 with UPS cost $55 with USPS. Shipping large packages has never been their thing anyways. But then again, the USPS is very competitive, often times much cheaper, with their smaller packages.

    But the volumes of decrease in just letters alone, which has always been their main source of money. With all of the online bill paying and people using emails (much more efficient), it only makes sense for them to be hurting from that.

    Rates for UPS are going up 5.6% in January.

    And with freight carriers, it surprises me how often shipping 2 large items to an address can cost around $1,000 just to ship.



    USPS concerns me greatly. There's a 500-600,000 square ft sorting facility across the street from a dialysis center we have. Given the demographics of the employees that work there, if that sorting facility would happen to close, we’d be in trouble across the street.
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    May 25, 2012 1:25 AM GMT
    metta8 saidI was saddened to hear that the Bodhi Tree closed down in West Hollywood.

    http://www.bodhitree.com/

    Good to hear that they may have a buyer that will be reopening it though...


    That's more that they just got old and it was time to hang it up I think?
  • metta

    Posts: 39104

    May 25, 2012 1:31 AM GMT
    ^
    I think they could not make it in that location any more. Or else you would like they would have been able to sell it before it shut down. It was a wonderful bookstore.

    In regards to USPS, the biggest sorting facility near me is scheduled to close as well. They plan on taking everything to Santa Ana which will delay things more. Not good for me...but they have to do what they have to do.
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    May 25, 2012 1:46 AM GMT
    Even in a good economy I think Best Buy would be failing. They just can't keep with Amazon which seems to sell almost everything Best Buy offers at a cheaper price and sometimes significantly cheaper. In the old days I used Best Buy much more frequently than I do now. Often now the only thing I use it for is to see something in person before purchasing it at someplace like Amazon or Tiger Direct.
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    May 25, 2012 4:41 AM GMT
    metta8 said^
    I think they could not make it in that location any more. Or else you would like they would have been able to sell it before it shut down. It was a wonderful bookstore.

    In regards to USPS, the biggest sorting facility near me is scheduled to close as well. They plan on taking everything to Santa Ana which will delay things more. Not good for me...but they have to do what they have to do.


    And another factor if they had a really long lease is at renewal time they could have been facing a 300 - 400% rent increase. That's what happened with the old Ms Fields, next to the bank at San Vicente and Santa Monica, and Bob Chand that's been replaced umpteen times because no one else can make it at $80 ft yr and rent plus CAM.
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    May 25, 2012 4:56 AM GMT

    lol...and just the other day someone made a topic and stated consumers don't drive the economy.
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    May 25, 2012 5:13 AM GMT
    meninlove said
    lol...and just the other day someone made a topic and stated consumers don't drive the economy.


    That's part of it.
  • MikemikeMike

    Posts: 6932

    May 25, 2012 7:38 AM GMT
    metta8 said
    Ten Brands That Will Disappear in 2012

    (june, 2011)

    1. Sony Pictures
    2. A&W
    3. Saab
    4. American Apparel
    5. Sears
    6. Sony Ericsson
    7. Kellogg's Corn Pops
    8. MySpace
    9. Soap Opera Digest
    10. Nokia

    http://finance.yahoo.com/family-home/article/112989/brands-disappear-2012-247


    add Best Buy !!!
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    May 25, 2012 12:58 PM GMT
    MikemikeMike said
    metta8 said
    Ten Brands That Will Disappear in 2012

    (june, 2011)

    1. Sony Pictures
    2. A&W
    3. Saab
    4. American Apparel
    5. Sears
    6. Sony Ericsson
    7. Kellogg's Corn Pops
    8. MySpace
    9. Soap Opera Digest
    10. Nokia

    http://finance.yahoo.com/family-home/article/112989/brands-disappear-2012-247


    add Best Buy !!!


    Naw. They aren't going to fail THIS year, but will they make it another seven or ten years? I really don't think they will in anything close to their current format. We've already quit buying them because at the end of that long 10+ year lease we don't think there'll be any entity left to renew.