Sears-Kmart Death Watch

[US71]

This watch may be just about over.

https://www.cnbc.com/2018/12/27/sears-may-need-to-liquidate-if-no-bid-comes-in-by-tomorrow.html

I wonder if JC Penney will be next  (97 cents a share) ?

[wxfree]

I wonder if the dollar stores will now start selling JC Penney stock.

[US71]

I wonder if the dollar stores will now start selling JC Penney stock.

I read something the other day that there seems to be a backlash in many communities against dollar stores.

[wxfree]

I wonder if the dollar stores will now start selling JC Penney stock.

I read something the other day that there seems to be a backlash in many communities against dollar stores.

To go off topic, I don't get this.  Things like Walmart and dollar stores bring products at lower prices.  It costs jobs, but it's more efficient.  Fewer people costing less to pay move the same amount of merchandise.  Improvements in efficiency have always been painful, but they always move us forward to something better.  More people can afford to buy more things and, in some cases, those things are built better, because of increased efficiencies that cost people their jobs.  I think we need to recognize this as a problem that needs to be addressed, but not address it by suggesting that we should instead build the economy around inefficiency.  Taken to an absurd extreme, if our economy was so inefficient that everyone had to grow and hunt their own food, everyone would be employed.  Every step of improvement will cost people jobs.  We should have policies to mitigate those effects, but not by mandating that 20 people be hired to do the work of 5.

[TheHighwayMan3561]

I wonder if the dollar stores will now start selling JC Penney stock.

I read something the other day that there seems to be a backlash in many communities against dollar stores.

Not sure what specific reasons were outlined in that article, but Dollar General was forced to cancel its planned Grand Marais, MN store after the city and residents rolled out the unwelcome mat, fearing the chain would hurt the town character (the town does have DQ and Subway, so it's not entirely a chain-free zone).

[vdeane]

More people can afford to buy more things and, in some cases, those things are built better, because of increased efficiencies that cost people their jobs.

And often times the price is lowered by cheapening out on quality instead.

[wxfree]

More people can afford to buy more things and, in some cases, those things are built better, because of increased efficiencies that cost people their jobs.

And often times the price is lowered by cheapening out on quality instead.

That happens, too.  They also shrink the size to hide a price increase.  They do these tricks because most people aren't good shoppers.  But going back to mom-and-pop stores that take 5 times as many people to serve the number of customers won't fix that, either.  Progress is uneven.  More efficiency is good.  Using lower quality or smaller quantity to mimic efficiency is not.  These are things we have to work out over time.

[Rothman]

The big dollar store chains actually and craftily sell certain products at a HIGHER price than Walmart.  The power of marketing...

[inkyatari]

Sears could liquidate today...

https://www.cnn.com/2018/12/27/business/sears-deadline/index.html

[hotdogPi]

One dollar store near me, not part of a chain, sells "Hitz" crackers. They look exactly like Ritz.

[abefroman329]

I wonder if the dollar stores will now start selling JC Penney stock.

I read something the other day that there seems to be a backlash in many communities against dollar stores.

To go off topic, I don't get this.  Things like Walmart and dollar stores bring products at lower prices.  It costs jobs, but it's more efficient.  Fewer people costing less to pay move the same amount of merchandise.  Improvements in efficiency have always been painful, but they always move us forward to something better.  More people can afford to buy more things and, in some cases, those things are built better, because of increased efficiencies that cost people their jobs.  I think we need to recognize this as a problem that needs to be addressed, but not address it by suggesting that we should instead build the economy around inefficiency.  Taken to an absurd extreme, if our economy was so inefficient that everyone had to grow and hunt their own food, everyone would be employed.  Every step of improvement will cost people jobs.  We should have policies to mitigate those effects, but not by mandating that 20 people be hired to do the work of 5.

Beyond the aforementioned issue that they sell substandard goods, I also read recently that a significant number of people are doing their grocery shopping there. Anyone who's spent time in a dollar store's grocery section can see why that would be a problem.

[abefroman329]

One dollar store near me, not part of a chain, sells "Hitz" crackers. They look exactly like Ritz.

I've seen a collage of store brand versions of Dr Pepper. Wal-Mart's "Dr. Thunder"  is still my favorite.

[Buck87]

I've seen a collage of store brand versions of Dr Pepper. Wal-Mart's "Dr. Thunder"  is still my favorite.

I'm partial to Kroger's Dr. K

[US71]

I wonder if the dollar stores will now start selling JC Penney stock.

I read something the other day that there seems to be a backlash in many communities against dollar stores.

To go off topic, I don't get this.  Things like Walmart and dollar stores bring products at lower prices.  It costs jobs, but it's more efficient.  Fewer people costing less to pay move the same amount of merchandise.  Improvements in efficiency have always been painful, but they always move us forward to something better.  More people can afford to buy more things and, in some cases, those things are built better, because of increased efficiencies that cost people their jobs.  I think we need to recognize this as a problem that needs to be addressed, but not address it by suggesting that we should instead build the economy around inefficiency.  Taken to an absurd extreme, if our economy was so inefficient that everyone had to grow and hunt their own food, everyone would be employed.  Every step of improvement will cost people jobs.  We should have policies to mitigate those effects, but not by mandating that 20 people be hired to do the work of 5.

Beyond the aforementioned issue that they sell substandard goods, I also read recently that a significant number of people are doing their grocery shopping there. Anyone who's spent time in a dollar store's grocery section can see why that would be a problem.

Their prices are higher, the selection is sparse, and the quality isn't there. A lot of their cheese is what I call "fake cheese": cheese will added fillers.

[J N Winkler]

That happens, too.  They also shrink the size to hide a price increase.  They do these tricks because most people aren't good shoppers.  But going back to mom-and-pop stores that take 5 times as many people to serve the number of customers won't fix that, either.  Progress is uneven.  More efficiency is good.  Using lower quality or smaller quantity to mimic efficiency is not.  These are things we have to work out over time.

The measures that businesses use to plan their retail offerings and that government uses to plan the economy (there is always some planning of that type going on even in market societies) often do not capture well-being.  From the perspective of a retailer in the grocery business, for example, it makes more sense to sell packaged foods, vitamin supplements, ground-up psyllium husk (Metamucil or generic equivalent), and Preparation H, than it does to sell fresh produce.  All of the goods in the former category have fixed form factors and keep indefinitely, so they can be sold with negligible waste or loss.  Meanwhile, fresh food requires refrigeration and since it is almost impossible to match supply exactly to demand that fluctuates over short time intervals, a high proportion of it goes into the trash.

Result:  constipation is by far the most prevalent digestive complaint in the US, and its incidence is higher among the nonwhite demographics that are more likely to live in food deserts where fresh produce is not available.

[SP Cook]

The latest loonie concept is that of the "food desert", the junk science myth that poor people somehow do not have access to "healthy foods" due to stores in bad neighborhoods not selling it.  Not true, of course.  Stores carry what customers want.   

[US71]

The latest loonie concept is that of the "food desert", the junk science myth that poor people somehow do not have access to "healthy foods" due to stores in bad neighborhoods not selling it.  Not true, of course.  Stores carry what customers want.   

Isn't it odd how un-healthy foods such as hamburgers cost less than healthy foods such as salads?

[inkyatari]

The latest loonie concept is that of the "food desert", the junk science myth that poor people somehow do not have access to "healthy foods" due to stores in bad neighborhoods not selling it.  Not true, of course.  Stores carry what customers want.   

Isn't it odd how un-healthy foods such as hamburgers cost less than healthy foods such as salads?

Beef subsidies.

[abefroman329]

The latest loonie concept is that of the "food desert", the junk science myth that poor people somehow do not have access to "healthy foods" due to stores in bad neighborhoods not selling it.  Not true, of course.  Stores carry what customers want.

Your habit of making bombastic statements and running away doesn't get more charming over time, you know.

[SP Cook]

No "bombastic statement" was made, simply a statement of fact and logic.  And no one has run away.  Most poor people are poor because they have made a series of really dumb decisions.  Spending "your" food stamps on Ho-Hos and Ding-Dongs is just another in a lifetime of such bad decisions.  If people want kale, the store will carry kale.

[hotdogPi]

If you know what to get, healthy foods aren't always more expensive than junk foods. A single banana is about 18¢^* (exact price depends on weight), and while that's nowhere near a full meal, filling up on various fruits and vegetables can be fairly cheap.

However, it generally holds true. Things labeled "organic" are more expensive. Mott's large jar of natural applesauce is 46 oz, while their regular is 48 oz (also 3.9 instead of 4 for the small cups). Vanilla ice cream with real vanilla bean is more expensive than other vanilla ice cream brands.

For some reason, the plantains (large Hispanic population at this store) are 25¢ each regardless of weight, while the bananas are 49¢ per pound.

^*and $200 cash back. Yes, someone really did this.

Most poor people are poor because they have made a series of really dumb decisions.

Sometimes, it's not under their control. Maybe their family was poor, but they didn't do anything wrong themselves. Maybe they got screwed over by their boss. Maybe they can't keep up with paying mortgage, insurance, and bills, even working full time for minimum wage.

[abefroman329]

No "bombastic statement" was made, simply a statement of fact and logic.  And no one has run away.  Most poor people are poor because they have made a series of really dumb decisions.  Spending "your" food stamps on Ho-Hos and Ding-Dongs is just another in a lifetime of such bad decisions.  If people want kale, the store will carry kale.

" Food deserts don't exist"  is a bombastic statement. They bloody well do. What you meant to say was "Food deserts exist, but I don't care because I'm not inconvenienced by them."  

And this is out of character for you; normally you troll and ignore all the responses.

[US71]

Most poor people are poor because they have made a series of really dumb decisions.

Sometimes, it's not under their control. Maybe their family was poor, but they didn't do anything wrong themselves. Maybe they got screwed over by their boss. Maybe they can't keep up with paying mortgage, insurance, and bills, even working full time for minimum wage.

We had to sell out house when I was 14 because my dad's pay was cut. We were forced to move because lots of jobs didn't exist at the time. Five years later we were forced to move again when the boss died and the company closed.

We made our cars last a couple more years, took shorter vacations, even moved to poorer neighborhoods to be able to put food on the table.
It is disingenuous to blame the poor for their predicaments when those who have plenty want more, no matter who gets hurt.

[Brandon]

If no one comes forth with a bid by tonight, I'd say those who though "1 year" were pretty accurate.

[catch22]

This may be moot in a few hours since they all may close sooner rather than later, but Sears announced 80 more store closings today.  List is in the article.  Nearest one to me is Novi, MI (Twelve Oaks Mall).

https://www.cnbc.com/2018/12/28/sears-closing-80-more-stores-in-march-faces-possible-liquidation.html