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on_the_hill
Guest
Yes. Unless there’s a private sector solution.
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josh987654321
Guest
Yes, if they go bankrupt, one must let them go bankrupt. Allow others to fill the void, someone else can buy those companies and run them better/more efficiently etc.
If not, than that means they have a monopoly, and the ball is entirely in their court to do whatever they want, you essential have no power as a consumer (or supplier e.g. farmers), they can jack up prices, rip you off, because where else are you going to go?
If a farmer produces a heap of corn or something for a major supplier, and their is a monopoly, they can decide they want to undercut the farmer and pay him less, and where else can the farmer go? he either has to take whatever he is offered or nothing. If there is competition however, he can simply take his produce elsewhere for a more fairer price and thus cannot be abused by a monopoly.
Very, very wrong when the US Government bailed out the banks.
I hope this has helped
God Bless You
Thank you for reading
Josh
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ProVobis
Guest
Kmart has already gone through bankruptcy…
Amazing that they were able to buy Sears afterwards.
Our bankruptcy laws are very strange indeed.
As for shopping malls, it seems that they all eventually will give way to Amazon et al.
Amazing that they were able to buy Sears afterwards.
Our bankruptcy laws are very strange indeed.
As for shopping malls, it seems that they all eventually will give way to Amazon et al.
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ProVobis
Guest
Perhaps this is a little off topic but farmers generally hedge the price of their crops. So if a farmer sees in the futures market the price of corn at x cents a bushel, they will short at that price. They will lock in their profit so the price at harvest won’t matter.
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Arizona_Fat_Gir
Guest
Even private individuals go bankrupt and their slates are wiped clean. They usually don’t have to pay any other debts as soon as their assets are all liquidated. They don’t have to pay back money to anyone they borrowed from either.
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jeannetherese
Guest
I don’t have a problem with government supporting strategic industries; however, I’d much prefer nationalization of a bank over a bailout. That way, the bank becomes the property of the taxpayer and provided a different type of competition with private sector institutions.
While I like buying appliances at Sears, I’m not sure that Sears is worthy of nationalization.
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josh987654321
Guest
Thank you.
I’m not sure exactly how it works, but over here in Australia, I heard a story about a major supermarket which would call their suppliers (farmers) and pressure some into taking pay cuts, and this is possible when there is a monopoly and the farmer only has essentially two choices, either take whatever price is offered or take nothing.
Nevertheless, the main point I want to make, is that monopolies generally will result in abuse, since if there is a monopoly on something, they will have all the power, and if it gets to the stage where they are not allowed to go bankrupt, then the consumer or supplier abandoning them due to their abuse of power, will be rendered irrelevant and the consumer and supplier will lose that safety net to hold the major supermarket (whatever the monopoly is) accountable.
Anyway, just some of my thoughts.
God Bless
Thank you for reading
Josh
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josh987654321
Guest
I agree. I think that would have been much more fair and just.
God Bless You
Josh
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mikekle
Guest
Thats how it used to be, but thanks to the power of the credit card companies, they managed to get that changed, bankruptcy is not so easy to file as it was 10-15 yrs ago.
Before the new laws went into effect, someone could rack up thousands on credit card debt and claim bankruptcy every 7 yrs and start over, without having to give or pay anything back, I guess the credit card companies got sick of being burned.
The difference between a person claiming bankruptcy versus a company like Kmart/ Sears, when a person goes bankrupt, its usually a bad thing that negatively effects them for many years, when its a company, that is not the case.
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Monte_RCMS
Guest
How would you propose to stop them?
[They can’t pay their bills.]
[They can’t pay their bills.]
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pianistclare
Guest
K Mart has been gone from my area for years. They kept their store pretty old, never upgraded, and they were dirty. They believed their customer base would never go elsewhere. They were wrong. Wal-Mart and Target pretty much wiped them off the radar of the consumer. Sears has surviving only on their major appliances, tools, and machinery for a long time. I don’t know of anyone who shops there for clothing, or other smaller items.
There’s more to it than just opening the doors in the morning. They have to keep a good product on the shelves, and those items are getting fewer and fewer.
Whatever happens, if their own doing. If the malls are in a good location, I can assure you, some other retailer will come in.
There’s more to it than just opening the doors in the morning. They have to keep a good product on the shelves, and those items are getting fewer and fewer.
Whatever happens, if their own doing. If the malls are in a good location, I can assure you, some other retailer will come in.
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Digitonomy
Guest
Government support does not automatically create a monopoly and a monopoly does not require government support.
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egretps
Guest
What would be great is if Martha Stewart were to buy them out! She was what made Kmart get pulled from a slump in the early 2000s, and when they didn’t renew her contract (and also didn’t take her advice) they suffered sales losses.
Love that Martha!
Love that Martha!
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Irishmom2
Guest
I agree, K Mart stores are really run down and outdated. Their merchandise looks second rate. 20 years ago, I liked shopping there, but now it’s not worth the travel I would have to do to get there. Wal Mart has taken their place, and our Wal Mart is spotless and well stocked.
We still have Sears, but I never shop for clothing there, they follow the demographics of a place closely, and all their clothing in our local store is for the young, or the very old, of which I am neither.
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DignumEtJustum
Guest
Certainly; their situations are the result of incompetent managerial decisions. If Sears is going to keep offering overpriced and unattractive clothing shipped in from the cheapest sweat shop then I personally hope they soon close. Probably too late to again offer the domestic made quality items they once did; once they decided to stop employing people in their own home nation to manufacture the goods they sell and instead began to ship in items to save a buck for their executives’ bonuses but without even passing on the savings to the consumer all while boosting the economy of red China, that was the beginning of the end. Once all companies began to do this, eventually it had to lead to the point of there being too few jobs for large portions of the population to have any money to even spend in the stores. All these now multinational companies did it to themselves. Sears has also totally failed in getting with the times as their online shopping options are pathetic, at least the last time I looked. As far as K-Mart… if they go out of business I’m not sure where I’ll ever get an affordable bowling ball again! I agree the blight will be awful but there will also be potential for many cheap retail spaces for anyone with the ideas and money to try something new, hopefully being smart enough to not make the same mistakes as their predecessors.
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JanetF
Guest
I believe in the free market, so let them go if they are failing. Some other company will come along and fill any void (if there is one).
I didn’t agree with the government bailout of GM for the same reason. After the Government bailout of GM, I will never purchase another GM vehicle.
I didn’t agree with the government bailout of GM for the same reason. After the Government bailout of GM, I will never purchase another GM vehicle.
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Casilda
Guest
Hmm. Sounds like Walmart. I remember reading something about them pressuring Rubbermaid to lower their prices, and Walmart started stocking a cheaper, substandard brand instead. Since I couldn’t find Rubbermaid products anymore and I didn’t want the substandard brand, I sought out secondhand and thrift store Tupperware.
I shop the same for clothes. Good quality but from thrift stores.
Walmart is not a business, it’s an economic disease
larouchepub.com/other/2003/3044wal-mart.html
Walmart bounces Rubbermaid
sprawl-busters.com/search.php?readstory=646
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Oneofthewomen
Guest
This is not exactly true.The bankruptcy laws in the US have changed dramatically, specifically to prevent this sort of thing.
Chapter 13 requires the payment of all debt, it is simply just a restructuring of your debts, and it stops interest from accruing on your debt balance.
And it is not a good thing for most people who have to do it.
Sadly, as has been said, business do not have the same repercussions that individuals do
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BoomBoomMancini
Guest
I’m not as an enamored of capitalism at all costs as some, but in this case I do think it’s time for Kmart and Sears to ride off into the sunset. They’re just not filling a niche that anyone wants anymore, and their stores look dingy and outdated. Walmart might sell cheap stuff made overseas and treat it’s employees poorly, but at least the stores are usually clean.
Personally, the first place I go when I need a non-grocery item is the internet anyway.
Personally, the first place I go when I need a non-grocery item is the internet anyway.
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