Another one bites the Dust!

[heavenlyboy34]

Today, Linens n' Things issued a "going out of business" sale ad. It was a thriving business in recent years. I don't know that much about the company. Perhaps this is discussion worthy in the context of our coming depression?

 

[Mr. Coolidge]

You mean the entire chain, or just your local store?

 

[gaazn]

Which major insurance company is about to go bankrupt?

Harry Reid mentioned that a major insurance company is about to go bankrupt. Any guesses which one? I'm thinking Hartford because it's shares are trading like Bear Stearns. You know the government is waiting to jump in and take over 80% ownership in this one.

 

[tropicangela]

http://www.nypost.com/seven/09172008/business/its_curtains_for_linens_129486.htm/

IT'S CURTAINS FOR LINENS
CERBERUS PULLOUT MAY FORCE RETAILER TO LIQUIDATE

Posted: 3:55 am
September 17, 2008

Having missed a last-ditch chance to sell itself, Linens 'n Things may be forced to liquidate its business during the holidays, sources told The Post.

 

[gaazn]

Linens and Things fortuens were tied to the housing bubble, easy credit, and home equity lines. Meanwhile, companies like Big Lots, Dollar General, second-hand goods stores, and pawn shops are doing very very well.

 

[muh_roads]

My 401K is with the Hartford. I'm'a screwed...

 

[gaazn]

My 401K is with the Hartford. I'm'a screwed...

If you have Hartford shares in your 401k, it's time to swap out for another fund.

 

[heavenlyboy34]

You mean the entire chain, or just your local store?

Probably the whole chain, as I didn't see a specific locale in big type.

 

[Anthony T]

Linens and Things fortuens were tied to the housing bubble, easy credit, and home equity lines. Meanwhile, companies like Big Lots, Dollar General, second-hand goods stores, and pawn shops are doing very very well.

I agree with this.

 

[muh_roads]

If you have Hartford shares in your 401k, it's time to swap out for another fund.

No I don't actually. I am in gold mining stocks and oil stocks with them.

 

[forsmant]

I think many fast food franchises and retail franchises will go under. Not the whole company but the franchises.

 

[tonesforjonesbones]

If that happens it's probably a blessing. That crap is bad for ya. The mall here just built a huge linens' and things...very expensive to shop there. I'm not surprised it's going down and I am certain a lot of other small businesses will also tank. People have been holding onto their dollars for awhile now...finally someone is saying we're in a recession. T.

 

[John E]

what about bed bath and beyond?

 

[Nirvikalpa]

My Linens and Things already closed. I thought they all went out a few months ago.

 

[cheapseats]

Today, Linens n' Things issued a "going out of business" sale ad. It was a thriving business in recent years. I don't know that much about the company. Perhaps this is discussion worthy in the context of our coming depression?

It ABSOLUTELY is.

Linens 'n Things was a not-up-to-par replica of Bed Bath & Beyond.

We don't need two of those. That's stupid...what, somehow between the two of them, there'll be downward pressure on price and upward pressure on competitive operating costs? Please.

That's about as meaningful to free market capitalism as fifteen brands of toothpaste is to freedom. Optimal allocation of resources is key.

We're all about copy-catting and marketing gimmicks, instead of innovation.

 

[cheapseats]

I think many fast food franchises and retail franchises will go under. Not the whole company but the franchises.

We either have too many restaurants, or not enough Labor that is paid well enough to eat out on a regular basis.

ALSO, as Sarah Palin never tires of saying, restaurants and coffee shops should be paying Labor the market rate. For what reason are restaurant owners' wage costs offset by consumer participation? It's ridiculous. It is also a tremendous forfeit of tax revenue to the government.

Lemme think...customers or Starbucks, which can better afford to pay Starbucks employees? Upon which party does the onus of payment of subsistence wages rightly fall?