Ten big ones on the road to bankruptcy

I worked in Sprint last year and the management is bad. The service is bad and most delivered phones are returned because it was either damaged or it wasn't what they are expecting. I'm not surprised to see Sprint on the list.

I can see why Macy's is going out of business. I saw a commercial on tv last night that had a lot of big time famous people in it. They could have saved a lot of money by not hiring them.

Macy's same store sales for August were down 8.1% from last year.
http://phx.corporate-ir.net/phoenix.zht ... highlight=

Their biggest problem is their total long term debt is over 8 billion dollars.
http://www.macysinc.com/investors/2009/cfs092gaap.aspx

//another article I just found that indicates Rite-Aid is right there with them
http://www.thestreet.com/_yahoo/story/1 ... &cm_ite=NA

So...It's the money they could have saved by switching to pseudos?

*And I always feel like somebody's watching meeee*

Rite-Aid is crazy. They just opened a huge outlet in a brand new building they had built a few miles from here in what I gotta say is an intensely, and obviously, bad retail location. Not to mention there is no shortage of drug stores in the area, and a Key Foods right next door -- which sells stuff like snack food and toiletries much cheaper. Most of the stuff they sell is available at dollar stores for a fraction of the price. Everytime I walk by there are exactly zero cars in the way oversized parking lot. Rite-Aid is like where you would go to pay as much as you can for sun-block at 3am. This one isn't even open 24hrs, tho, which makes the 24hr drug store prices seem more obscene and unwarranted.

Then another mile away they have a giant pile of dirt with a billboard: "Rite-Aid coming soon!" which has been there a few years, I think they were betting on some other development in the area which didn't pan out. In any case, the person in charge of those decisions was brainless and no doubt was told that in advance.

Speaking of companies going bankrupt, you'll love this. Got something of a surprise in the mail yesterday. Circuit City ( a previous employer of nearly 15 years of my life) sold off my remaining shares (3.8) of Carmax stock (which they owned and I had totally forgotten I had left) and I made a whole $65 off the sale, after trading fee and other misc fees of $51 I netted about a $14 check. I feel so rich.

Woohoo! Whatcha gonna buy with all that?

That's ridiculous. Are they going to make you pay some sort of capital gains tax on that now too ?
It would suck, but it would be pretty funny if you ended up having to pay Uncle Same $20 and only have a check for $14.

oddly that thought actually crossed my mind.

I think my father lost about 40% of his retirement to taxes when my step mom left him the first time causing him to have some sort of retarded breakdown, quit his job, and retire early.

I'm guessing that stock stuff was part of some sort of retirement gimmick in your case too ?

If the same numbers apply, and the 79% that's already been taken out didn't include uncle sams cut, 40% of $65 is actually $26.

No, actually my retirement plan was a genuine "good old days" pension. It's currently secured with Wells Fargo and a new company is managing it now that Circuit City went belly-up. The stock options were an employee perk so to speak. I sold most of my stock years ago with some nice profits when CC was doing well. I just forgot I had a few shares of Carmax left.

Honestly I'd be making more money if I retired now than I am working (not even counting my 401k that I have at my current job)

I bet sometimes you wonder if you should retire early and cash out while it's still worth something with the way things have been going with financial institutes going bust and whatnot lately.

I caught Greg Geraldo on Comedy Central the other night just long enough to hear him crack a joke about it being a great time to be a screw up.