4800 jobs GONE *poof*

likemystoppie? · 09-07-2005, 11:50 AM

http://news.yahoo.com/s/ap/20050907/ap_on_bi_ge/mervyns_closures

According to the article the stores that are being closed only accounted for 17% of their total sales. Most jobs are being held by part-time employees.

What other trends have people noticed about our economy? Just curious.

Icemaster · Icemaster's Garage

Oh, nuthin much. Just ABC reporting that 400,000 went poof in this little place called New Orleans.

Kinda pales in comparison, no?

Joeaksa · 09-07-2005, 03:02 PM

One store closes, another has to hire to make up for the additional sales that will come. Overall the economy has been in a positive direction for a while now and a lot stronger than it was 6-8 years ago.

I got laid off in June, had a job the next day. Took a slight pay cut but not bad.

JoeA

tdatk · 09-07-2005, 05:28 PM

You can only re-sell for profit x amount of times to keep this current US economy going. All we do anymore is import and sell at profit, we don't manufacture much. Really sad overall, we have a great skilled labor force(not a union) if only we would support it instead of promoting the 4 year college as the only way to be successful. Smart people are not measured by degrees but by success, however they come by it. I believe we need to fix the foundation before we aspire to great heights ....again.

Tim

Shaun @ Tru6 · 09-07-2005, 05:39 PM

Quote:

Originally posted by Joeaksa
One store closes, another has to hire to make up for the additional sales that will come. Overall the economy has been in a positive direction for a while now and a lot stronger than it was 6-8 years ago.

I got laid off in June, had a job the next day. Took a slight pay cut but not bad.

JoeA

Joe, I hate to say this, but 6 to 8 years ago, people were jumping from job to job almost doubling their initial pay after a few well-placed leaps.

Sorry to hear you took a cut, I'd love to get paid someday!

coloradoporsche · 09-07-2005, 05:49 PM

Quote:

....and a lot stronger than it was 6-8 years ago.

Not sure what country you were living in back then. Anybody remember the term "signing bonus"?

RallyJon · 09-07-2005, 05:57 PM

Quote:

One store closes, another has to hire to make up for the additional sales that will come.

Or, more likely, other retailers already have hired the staff needed to kick Mervyn's ass and put them out of business. Retail is doing very nicely right now. If you're of the store clerk persuasion, you'll have no trouble finding work.

turbo6bar · 09-07-2005, 05:57 PM

Quote:

Originally posted by Shaun 84 Targa
Joe, I hate to say this, but 6 to 8 years ago, people were jumping from job to job almost doubling their initial pay after a few well-placed leaps.

Work is for losers. The real money is in real estate. People are jumping from house to house, almost doubling their equity after a few well-placed Interest-Only Negative Amortization mortgages.

Shaun @ Tru6 · 09-07-2005, 06:00 PM

Quote:

Originally posted by RallyJon
Or, more likely, other retailers already have hired the staff needed to kick Mervyn's ass and put them out of business. Retail is doing very nicely right now. If you're of the store clerk persuasion, you'll have no trouble finding work.

There was a guy at MAGIC last week who was all excited about signing on Mervyn's. His deal?

His cost:
T-shirt - $5
promo gift - $2 (as part of the marketing plan)

Wholesale to Mervyn's - $6

I think he was making up the loss on volume.