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Ghost Malls Will Be Appearing

Tue, 20 Jan 2009 22:40:00 GMT

Commercial real estate, next shoe to drop.... James Quinn January 19th 2009 America’s economy supports more than 1.1 million retail stores. There are approximately 1,100 Malls in the United States, not counting the thousands of strip mall centers. That will soon change as once thriving malls become ghost malls. By 2011, America’s malls within two years will have an entirely different set of numbers. International Council of Shopping Centers (ICSC) chief economist Michael Niemira tries to put a good face on the gloom. He says, “In the midst of all this doom and gloom, it’s hard to imagine it getting better… But keep in mind, what happens in strong downturns is there’s a hefty pent-up demand. It’s wrong to extrapolate these conditions for the next year or two.” But Mr. Niemira is probably wrong. There is no pent-up demand. Americans have bought everything they’ve desired[More...]

Notable Bankruptcies of 2008: Final Tally

Mon, 05 Jan 2009 23:35:00 GMT

In mid-August I predicted that “major” bankruptcies for 2008 would reach 225 (see Bankruptcies Revisited). Through October there had been 172 such bankruptcies, as reported by Bankrupctydata.com. That implied a pace of around 210 bankruptcies, well short of my prediction. At the time however, I suggested that the filing pace was likely to quicken in November and December as the economy deteriorated at a more rapid clip. Sure enough, the final numbers bear out my prediction. According to Bankruptcydata.com, “major” filings reached 231 in 2008. 231 bankruptcies falls far short of the 289 “major” bankruptcies in 2000 and 383 in 2001[More...]

Stay Defensive With Consumer Staples

Fri, 21 Nov 2008 15:49:00 GMT

"If you’re going to stay invested, you should look to defensive sectors," explains Ron Rowland and Brandon Clay. In their Invest with an Edge, the leading growth stock advisors explain, "Perhaps the best way to do this is with Consumer Staples Select Sector SPDR (NYSE: [More...]

Drawing Some Different Conclusions

Wed, 12 Nov 2008 05:36:00 GMT

Some might be skeptical, but I've seen skilled technical analysts take nebulous-looking stock charts and add lines and descriptions that suddenly provide a great deal of clarity about what is going on. While I'm not totally sure how talented he is as a chartist, Mike Shedlock, publisher of Mish's Global Economic Trend Analysis, draws (yes, that's a pun) some counterintuitive conclusions from a graph that has many inflationistas foaming at the mouth in "Parents Pull Kids From Day Care (And Other Deflationary Topics)." Why Not Hyperinflation? One person who gets it right is Professor Depew at Minyanville in his post [More...]

Bankruptcies Revisited

Thu, 06 Nov 2008 04:34:00 GMT

In mid-August I predicted that bankruptcies for 2008 would reach 225 (see my post Bankruptcy Update). There had been 120 total bankruptcies at the time. The 120 bankruptcies as of August 15th implied a pace of about 195 bankruptcies, well shy of my prediction. But much has changed since mid-August, so let’s revisit that prediction. According to Bankrupctydata.com, there have been 172 bankruptcies through October. If we assume that bankruptcies continue to accumulate at 17 per month for the rest of the year (the monthly average), the implied total for 2008 would be 206. However, we know that the bankruptcy pace has quickened since August. In fact, since mid-August, bankruptcies have been averaging about 21 per month. If we use 21 per month instead[More...]

Genuinely Recession-Proof?

Mon, 11 Aug 2008 06:44:00 GMT

I've previously argued that there are few, if any, industries that could really be described as "recession-proof." That phrase is largely a Wall Street marketing concept designed to keep investors from completely abandoning equities as the outlook for share prices goes from bad to worse. Still, there does appear to be one sector of the economy that may prove unusually resilient in the face of faltering growth and a structural change in consumer spending habits: resale and thrift shops. In fact, now that I think about it, these sorts of retailers could very well boom in the kind of environment I see ahead. Think about it: the more difficult circumstances become, the more cheap inventory these resellers will have on hand. By the same token, they will also have more and more customers coming in who are short on cash and looking for bargains. As it happens, the good news for this sector is already[More...]

Noteworthy Bankruptcies

Wed, 18 Jun 2008 04:41:08 GMT

Several months ago I promised to keep tabs on notable bankruptcies of 2008 (see More Failure for Fodder). Well, we’re nearly half-way through the calendar year, so I thought I’d continue to make good on that promise.[More...]

How to Profit from the Coming Economic Collapse

Wed, 23 Apr 2008 00:17:43 GMT

By Peter D. Schiff Guest Columnist Recent high-profile bankruptcies of mainstay American retailers, such as Sharper Image Corp. (SHRPQ) and Linens Holding Co.’s Linens ‘n Things, as...[More...]

FedEx and UPS Reporting Fall in Shipment Volumes

Tue, 22 Apr 2008 15:49:22 GMT

The most important information out today is from both FedEx and UPS, both of which are reporting falling shipment volumes:[More...]

Not Liquidation, But Evaporation

Wed, 16 Apr 2008 06:16:24 GMT

Businesses have long relied on Wall Street's so-called experts for guidance and help with finances. Unfortunately, what many failed to take account of was the financial community's singular focus on fee-generation, its inability to look and think beyond t[More...]

Circuit City to Pull Shutter Operations, Leaving 34,000 Employees Out of Jobs

Tue, 20 Jan 2009 21:50:00 GMT

Jan. 20--The nation's second-biggest consumer electronics retailer said last week it is closing down operations.
Circuit City Stores Inc. filed for Chapter 11 bankruptcy protection in November.
The company had already closed 155 U.S. stores last year as it tried to cope with its deteriorating finances.

[More...]

Closings Loom for Big-Name Stores

Sun, 28 Dec 2008 18:57:00 GMT

Dec. 28--If the horrific holiday retail saes are any indication, it's likely that Circuit City, Linens-n-Things, the Sharper Image and other chains that have sought bankruptcy protection in 2008 will be joined by many others next year.
Ann Taylor, Sears and Talbots, among many others, have been closing underperforming stores.
"Bankruptcies will abound," said Howard Davidowitz, chairman of Davidowitz & Associates Inc., a New York-based national retail consulting and investment banking firm.

[More...]

In Sacramento Region, Empty Stores Reflect Stagnant Economy

Sun, 07 Sep 2008 13:57:00 GMT

Sep. 7--Linens 'n Things store No.
1204 in Sacramento closed on a Sunday in mid- August.
Within 48 hours, as if the store had never existed at all, its sign vanished.

[More...]

Mervyns Plans to Close 3 E.V. Area Stores: Retailer Reorganizing While in Bankruptcy

Sat, 16 Aug 2008 18:50:00 GMT

Aug. 16--Mervyns is closing four Arizona department stores, three of them in or near the East Valley.
Stores at 9109 E. Indian Bend Road in Scottsdale Pavilions, 4710 E. Ray Road in Ahwatukee Foothills' Silvercreek Plaza, and 4643 E. Cactus Road near Paradise Valley Mall, are among 26 "under-performing" Mervyns locations to get dumped by the California-based retailer, which is in Chapter 11 bankruptcy and trying to reorganize.
The rest of the company's 10 Valley stores are safe, for now.

[More...]

Liquidation Begins Today at Boscov's: Bankruptcy Court Approves Chain's Bid to Turn Over 3 Stores to Closeout Specialists

Sat, 16 Aug 2008 11:50:00 GMT

Aug. 16--Department store chain Boscov's Inc. will begin liquidation sales today at 10 stores it is closing, including three in the Baltimore area.
U.S. Bankruptcy Judge Kevin Gross signed an order authorizing a joint venture of Gordon Brothers Retail Partners LLC and Hilco Merchant Resources LLC to conduct the sales for the retailer.
"In any of these sales, the best selections are early on," said Richard Tauberman, a Boscov's spokesman.

[More...]

Construction Woes Drive Unemployment Rate to 13-Year High: Construction Woes Drive Unemployment Rate to 13-Year High

Sat, 16 Aug 2008 06:35:00 GMT

Aug. 16--Construction jobs continue to decline.
The result: For the third straight month, Florida leads the nation in job losses and in July posted its highest unemployment rate in more than 13 years.
California and Michigan trail Florida in job cuts.

[More...]

Economic Downturn Boosts Sales at Secondhand Stores

Sat, 09 Aug 2008 15:49:00 GMT

Aug. 9--BURLINGAME -- As major retailers get pinched and see fewer shoppers, secondhand stores are reaping the benefits of a sluggish economy.
John Gjersoe of Pick of the Litter in Burlingame can attest to that.
"This business has grown from just a location that really started with very little merchandise, and now the store is completely full," Gjersoe said.

[More...]

Fairlane Village Store Will Survive As Boscov's Files for Chapter 11

Tue, 05 Aug 2008 16:51:00 GMT

Aug. 5--Business as usual prevailed Monday in Fairlane Village mall at Boscov's Department Store, one of 39 that will survive the parent company's filing for bankruptcy protection in U.S. Bankruptcy Court in Delaware.
"It's a profitable store for us.
Local shoppers, in turn, also expressed happiness that the Fairlane Village store is not one of the 10 that will shut its doors in the wake of Boscov's Department Store LLC's voluntary petition asking for reorganization.

[More...]

Boscov's Seeking Chapter 11 Protection

Tue, 05 Aug 2008 09:50:00 GMT

Aug. 5--Boscov's Inc., a venerable retailer that has been part of the fabric of downtown shopping in Northeast Pennsylvania for decades, filed for bankruptcy protection Monday.
Boscov's Chapter 11 filing in U.S. Bankruptcy Court in Delaware allows it and its creditors to work out a reorganization plan that will result in a very different Boscov's -- or no Boscov's at all.
As a privately held company, Boscov's financial details are not regularly disclosed.

[More...]

Zero Gravity Corporation and Sharper Image to Sell Weightless Flights to the Public

Wed, 28 Mar 2007 13:55:00 GMT

Zero Gravity Corporation , the first and only FAA-approved provider of commercial weightless flights, announced today that the Sharper Image Corporation will exclusively market and sell seats on ZERO-G's public flights. The experience offered by ZERO-G is the only commercial opportunity on Earth for individuals to experience true 'weightlessness' without going to space.[More...]

Cool Blend: Trendsetter Sharper Image Adopts HD Digital Radio

Wed, 07 Feb 2007 09:56:00 GMT

The HD Digital Radio Alliance, a joint initiative of radio broadcasters to accelerate consumer adoption of HD digital radio, and Sharper Image Corporation , a specialty retailer known as a leading source of new, innovative, high-quality products, today announced the launch of HD digital radio products in over 188 Sharper Image stores nationwide, as well as online and on the cover of the company's celebrated catalogue. The retailer's move will be heavily promoted in the Alliance's $250 million 2007 ad campaign, announced in December.[More...]

Stull, Stull & Brody Announces Commencement of Lawsuit Against Sharper Image Corporation for the Back-Dating of Stock Option Grants -- SHRP

Tue, 21 Nov 2006 23:40:00 GMT

The law firm of Stull, Stull & Brody announces that a shareholder lawsuit has been commenced against certain members of the board of directors and certain executive officers of Sharper Image Corporation .[More...]

Shuman & Berens LLP Encourages Persons Who Currently Own Sharper Image Corp. Common Stock to Consider Their Legal Options Concerning Stock Option Backdating at the Company

Thu, 12 Oct 2006 23:47:00 GMT

The law firm of Shuman & Berens LLP today encouraged persons who currently own the common stock of Sharper Image Corp. to contact Kip B. Shuman of Shuman & Berens LLP at 1-800-711-6483 or via email at Kip@shumanberens.com, concerning their rights and interests regarding stock option backdating at the company.[More...]

Stock Alert: Small Public Company to Ship Product to Its Customers Immediately! March 1, 2006

Wed, 01 Mar 2006 13:47:00 GMT

Wall Street News Alert's 'stocks to watch' this morning are: Eco-Rx , Dell Inc. , Apple Computer Inc , and SHARPER IMAGE CORP .[More...]

Multimedia News Release - FLAVIA(R) Announces Specialty Retailer Partnership with Sharper Image

Wed, 26 Oct 2005 13:26:00 GMT

FLAVIA, the first to introduce the Brew-by-Pack hot-beverages category to the home and office, and the only system that brews direct and pure from pack to cup, announced today that its new FLAVIA Fusion drinks station is now available at all 185 Sharper Image stores throughout the United States, the Sharper Image mail- order catalog and at http://www.sharperimage.com, the Sharper Image Website.[More...]

The Law Firm of Baron & Budd, P.C. Announces Class Action Lawsuit against Sharper Image Corporation -- SHRP

Wed, 20 Apr 2005 14:44:00 GMT

The law firm of Baron & Budd, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of purchasers of Sharper Image Corporation securities during the period between February 5, 2004 and August 4, 2004, inclusive .[More...]

Law Offices Of Charles J. Piven, P.A. Announces Class Action Lawsuit Against Sharper Image Corporation

Tue, 19 Apr 2005 15:41:00 GMT

Law Offices Of Charles J. Piven, P.A. today announced that a securities class action was commenced on behalf of shareholders who purchased, converted, exchanged or otherwise acquired the common stock of Sharper Image Corporation between February 5, 2004, and August 4, 2004, inclusive .[More...]