|
Some of you might have seen my post on the situation in Consumer Electronics retail. Tweeter just canned their whole management, admin & whse staff. The retail staff will liquidate inventory starting tomorrow. Once it's gone, they're gone. Probably 1200 bodies all told.
And the retail bloodbath is just starting. Circuit City might move quickly now to close a swack of stores & layoff people. Then add in staff in the wholesale & distribution services that supply them.
Then there is the rest of the retail segment. Clothing, shoes & on & on & on. The writing is on the wall that retailers will be hurting this season.
It is not going to be a Merry Christmas for many.
Ian
__________________
'87 Carrera Cab
----- “Only two things are infinite, the universe and human stupidity, and I'm not sure about the former.” A. Einstein -----
|