Collarspace Discussion Forums


Home  Login  Search 

May Day revenge hits Circuit City


View related threads: (in this forum | in all forums)

Logged in as: Guest
 
All Forums >> [Casual Banter] >> Off the Grid >> May Day revenge hits Circuit City Page: [1]
Login
Message << Older Topic   Newer Topic >>
May Day revenge hits Circuit City - 5/1/2007 1:02:43 PM   
selfbnd411


Posts: 598
Joined: 7/23/2005
Status: offline 		Hehe!  Remember Circuit City?  Two months ago they fired their best (and best paid) sales staff and replaced them with lower paid unskilled employees.  Well, last night Circuit City had an announcement--they're getting absolutely DESTROYED in the marketplace.  Apparently, 16 year old kids who don't know the difference between HDTV and HGTV aren't the most effective salespeople in the world.

The stock was taken down 10% in the after hours and it has MUCH further to fall according to many analysts.  This company is dead in the water, and the biggest issue they face isn't overpaid workers--it's an utterly incompetent management team that is being eaten alive by well run outfits like Best Buy.  At the moment it's down around 6%.

Now for the best part--According to CNBC, Circuit City gave a number of executive officers sweetheart deals for stock options despite pleading poverty when it came to employee wages.  But the management team's god-awful performance destroyed the stock, so those options are worthless for now!  This is because the strike price (the price the executive would have to pay to get the stock) is actually above the market price right now.  Sure, at some point Circuit City's stock could rise above the strike, but I don't see this company going anywhere but down.

Happy May Day!

< Message edited by selfbnd411 -- 5/1/2007 1:04:44 PM >
Profile   Post #: 1
RE: May Day revenge hits Circuit City - 5/1/2007 1:08:39 PM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline 		Ha Ha! They're getting just what they deserve!
Two weeks ago I bought a new monitor from BEST BUY just because Circuit City screwed over their Employees!
According to them, $18 per hour is "overpaid."
Then why should those in management be "overpaid"?
I just won't do anymore business with them.
Think I'll go into their site and RUB IT IN!!!

(in reply to selfbnd411)
Profile   Post #: 2
RE: May Day revenge hits Circuit City - 5/1/2007 1:09:49 PM   
LaTigresse


Posts: 26123
Joined: 1/15/2006
Status: offline 		Too bad it is not similarly obvious in other companies that have pulled the same crap.

_____________________________

My twisted, self deprecating, sense of humour, finds alot to laugh about, in your lack of one!

Just because you are well educated, articulate, and can use big, fancy words, properly........does not mean you are right!

(in reply to selfbnd411)
Profile   Post #: 3
RE: May Day revenge hits Circuit City - 5/1/2007 1:23:59 PM   
Zensee


Posts: 1564
Joined: 9/4/2004
Status: offline 		Sadly Curcuit City's troubles, like those of many of the consumer electronics outlets, suffered due to WalMart's predatory pricing of large screen TVs for the Xmas market. Apparently Wally's strategy of destroying competition with a period of selling key items below the profit margins of other retailers, even at a loss (temporarily), is having its desired effect in electronics.

While the upper management of Circuit City may be greedy fools, deserving to be "hoist on their own petard", remember it is their employees and we consumers who are the ultimate victims of their treachery and WaldeMort's predation.


Z.

PS: Happy May Day!


_____________________________

"Before enlightenment, chop wood and carry water. After enlightenment, chop wood and carry water." (proverb)

(in reply to LaTigresse)
Profile   Post #: 4
RE: May Day revenge hits Circuit City - 5/1/2007 1:30:49 PM   
popeye1250


Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline 		Zensee, I haven't set foot in a Walmart in five years.
When they had that illegal alien problem I decided I just wouldn't do business with them anymore so Walmart doesn't factor into any of my purchasing decisions at all.
As far as I'm concerned, they don't exist.

(in reply to Zensee)
Profile   Post #: 5
RE: May Day revenge hits Circuit City - 5/1/2007 2:23:08 PM   
farglebargle


Posts: 10715
Joined: 6/15/2005
From: Albany, NY
Status: offline 		Somewhere (I think he got released by the feds back in '05... ) Eddie Antar is laughing at these amateurs.

_____________________________

It's not every generation that gets to watch a civilization fall. Looks like we're in for a hell of a show.

ברוך אתה, אדוני אלוקינו, ריבון העולמים, מי יוצר צמחים ריחניים

(in reply to popeye1250)
Profile   Post #: 6
RE: May Day revenge hits Circuit City - 5/1/2007 2:31:07 PM   
Aileen68


Posts: 6091
Joined: 8/2/2005
Status: offline 		I love karma.

(in reply to selfbnd411)
Profile   Post #: 7
RE: May Day revenge hits Circuit City - 5/1/2007 2:37:40 PM   
LadyEllen


Posts: 10931
Joined: 6/30/2006
From: Stourport-England
Status: offline 		My only question is, how did so many British management types get green cards?

E

_____________________________

In a test against the leading brand, 9 out of 10 participants couldnt tell the difference. Dumbasses.

(in reply to Aileen68)
Profile   Post #: 8
Page:   [1]
All Forums >> [Casual Banter] >> Off the Grid >> May Day revenge hits Circuit City Page: [1]
Jump to:





New Messages No New Messages
Hot Topic w/ New Messages Hot Topic w/o New Messages
Locked w/ New Messages Locked w/o New Messages
 Post New Thread
 Reply to Message
 Post New Poll
 Submit Vote
 Delete My Own Post
 Delete My Own Thread
 Rate Posts




Collarchat.com © 2025
Terms of Service Privacy Policy Spam Policy

0.086