Another store bites the dust!

Has anyone noticed that Friedman’s Jeweler’s has their guys with signs of “going out of business” at the corners of the Pavilion? I can understand Radio Shack and maybe Goody’s but Friedman’s? I also heard recently yet unverified, that Belk’s will be closing the doors soon. Has anybody out there heard as to why Friedman’s and maybe Belk’s are closing?

Hope everyone is having a great Memorial Day and Graduation celebration weekend with friends and families!

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carbonunit52's picture
Submitted by carbonunit52 on Mon, 05/26/2008 - 8:28am.

is not the only reason for store closings. At one time I did reviews on homeowner insurance damage claims. In all the photos that were submitted, regardless of location or economic level, the homes were stuffed with "contents". Perhaps we are just filled up with stuff and the need for new stuff has leveled off, especially shiny stuff like jewelry.


Submitted by susieq on Mon, 05/26/2008 - 8:55am.

I don't think some people have the sense to know when they have enough stuff. That's why they have so many yard sales. And not only do they buy new stuff, they buy other people's stuff. It's crazy.

Cyclist's picture
Submitted by Cyclist on Mon, 05/26/2008 - 8:57am.

It's sometimes called hoarding.
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carbonunit52's picture
Submitted by carbonunit52 on Mon, 05/26/2008 - 10:19am.

is Jordon's Salvage in Fayetteville. A unique emporium if I ever did see one. My father, bless his soul, would have loved that place. He had just as much "merchandise" but it was spread out over a much larger area, and he also had a lot of cars around to store stuff in. Out of curiousity, I stopped and asked an employee at Jordon's who was in charge of doing the inventory, and I was told that it was done by volunteers.


Submitted by Okie on Mon, 05/26/2008 - 8:15am.

I saw on the news a while back that Linen's n Things is closing some stores and the Fayetteville store is one of them. Haven't heard anything about Belk. If more people would shop and not shoplift maybe they could stay open! I was in Wal-mart one day and they were talking about a person who was in the electronics department taking the security devices off videos and putting them in a shopping bag. When the person started out the door, the alarm went off. They couldn't catch the person, but she dropped the bag. One of the videos had a device inside the box where you couldn't get to it.

Git Real's picture
Submitted by Git Real on Sun, 05/25/2008 - 10:23pm.

I also heard that Rooms To Go is getting out of town. It's just a matter of time before Haverty's closes the doors. In fact, I'm very surprised they've lasted this long. And who thinks Dicks, Sports Authority and HH Greggs is going to last?

________

"That man was Griffin Judicial Circuit District Attorney Scott Ballard".

CLICK HERE FOR THE REST OF THE STORY


carbonunit52's picture
Submitted by carbonunit52 on Sun, 05/25/2008 - 10:30pm.

that this is the best time to be developing more commercial buildings? A reasonably prudent person may think otherwise. Hardly anything looks worse than a lot of empty commercial space.


Git Real's picture
Submitted by Git Real on Sun, 05/25/2008 - 10:44pm.

What is fixing to happen is that the Southside of Fayetteville is going to experience a boom in building while perfectly good vacant buildings with a less 15 years of average age are going to sit dormant North of 54. I'm not an anti growth type but I do have a common sense growth mindset. And it makes no sense to keep building these mega square footage hulls for business models that seem to have a life span of only 5 to 15 years.

Am I the only one that gets the sense that perhaps we're going to see a commercial real estate bust in our near future?

________

"That man was Griffin Judicial Circuit District Attorney Scott Ballard".

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NUK_1's picture
Submitted by NUK_1 on Mon, 05/26/2008 - 4:27am.

I think we're seeing the beginning of it right now in Fayette co. Overdeveloped during the good times and now it's going to suffer as the economy isn't as strong and there is simply too much that isn't economically viable. The trend in Fayette is on the other side of 54, not the side with the Pavillion and also closest to wonderful Clayco.

I was in sports Authority last weekend and it looked like a place about to be going out of business. No customers and the store looked half-stocked. No way there is enough biz for both SA and Dick's and Dick's being bigger, nicer, newer will likely put SA out shortly.

That side of 54 is seeing the hurt. Restaurants failing in pretty large numbers(Mcallisters,Carino's,Backyard Burgers,Onnyx :)and now the retail merchandise stores are following.


Git Real's picture
Submitted by Git Real on Mon, 05/26/2008 - 7:00am.

So why are we still building as wrecklessly as we are? They signs are in place that indicate that PTC may be right on the heels of Fayetteville.

It also makes me wonder when the bubble is going to bust for nail salons, tanning beds, dry cleaners, Chinese and Mexican restaurants. I suppose the demand is pretty strong for tattoo parlors, body piercing joints, liquor stores and check cashing joints, followed by a boom in Autosmith franchises.

Our waste is going to kill us. Instead of holding strong on zoning issues that make the redevelopment and use of existing sites not only profitable but practical we're polluting our communities with a bunch of concrete block empty hulls (graffiti targets). Talk about being poor stewards of our resources.....

________

"That man was Griffin Judicial Circuit District Attorney Scott Ballard".

CLICK HERE FOR THE REST OF THE STORY


yardman5508's picture
Submitted by yardman5508 on Mon, 05/26/2008 - 7:42am.

that it is who we choose to elect...those people who, in positions of authority, are given the responsibility for controlling these sorts of things...Oh, I forgot...it is not government's responsibility to tell businesses where and when they can build...that is up to the "market"...my bad. Keep the faith.

Even a dead fish can go with the flow.


Submitted by USArmybrat on Sun, 05/25/2008 - 6:23pm.

My daughter received a ring last Christmas and recently a stone fell out of it. When she and her guy went to Freidman's with their 2-year guarantee, they were told that the stores were all closing and the owner was up on charges for fraud,I think. They couldn't guarantee that the ring would be returned to them if they sent it off so they had to go elsewhere.

NUK_1's picture
Submitted by NUK_1 on Sun, 05/25/2008 - 8:28pm.

Been Caught Stealing

this was actually not all that recent as the actions of the CEO and the CFO behind all that fraud were several years ago. After they were gone in 2005, Freidman filed bankruptcy to re-organize. Guess they haven't recovered yet.


Submitted by sageadvice on Sun, 05/25/2008 - 4:32pm.

Debt is the problem with these stores! They already owe the maximum and when any kind of slowdown occurs, they are done for quickly. There are no reserves, there are no plans for slow business! Poor managers.
However, the real problem, further back, is the ability to obtain loans
from greedy banks that are sure to have high failure rates.

Ever heard the saying: If a mule was carrying all the feathers that he could carry, could he possible under initiative, carry just one more little feather?

Friedman's has been broke several times! Too much overhead and loans. No customer loyalty and poor management.

Airlines are right now pricing themselves out of regular customers instead of cutting expenses and salaries. All they will soon have are a few business customers. That also may die out greatly.

I think maybe the "conservatives" would now like a little federal intervention to re-regulate airlines! They won't admit it, but most of those republican, union attending, highly paid employees are all for that particular interference.
I remember when planes were quite often near empty and one could jump from plane to plane with any kind of ticket. Those tickets were very expensive though, and I never saw a tourist very often!

Submitted by southwind on Mon, 05/26/2008 - 5:35pm.

Always enjoy people that are not in the indusrty ,voicing their opinions and have all the fixes.
I've personally taken 4 paycuts in the last 5 years so that people can fly round trip to Cal. for $25.00. Seeing jobs outsourced, out of the country, where your Federal Gov. does not have the oversight over work done there ,as they do here.
A car mechanic, now, makes more than an aircraft mechanic ! But I guess thats ok !
Think about that next time your 30,000 ft.in the air, complaining about the price of your ticket !

Submitted by sageadvice on Mon, 05/26/2008 - 7:37pm.

I don't mean to criticize most airline workers for the airline problems. One particular group of employees, who are unionized, have in the past been the primary cause of airline failures and losses. They know who they are.

My daughter just went to California and she certainly didn't get there for $25, round-trip! More like 10 times that in coach. Soon, if prices continue to rise that will be her last trip on a plane. I don't really think some employees care about whether or not tourists fly on their airline. They will only go if it is a bargain and aren't influenced by fancy seating and food. Can't pay tip-top wages and put up with that!
When an airline mis-plans and is put out of business, or can't pay their employees as much as they want--no matter what the reason, it is not my fault! I'll fly if I can afford to and if I can't, I'll not fly. I'm just not sure there are enough corporations out there anymore willing to pay huge ticket prices for their employees to fly as they used to do!
What do you say about the discount airlines who currently have a lot of the tourist trade--some even making money? If I thought that the major airlines were maintaining their planes better, hiring more efficient people, training better, on time better,etc., I wouldn't mind paying some premium for a ticket. I'm not sure they do however.

Now, as to an auto mechanic being paid better than an airline mechanic, I don't see where that is the problem. First I don't think it is true on the whole. In a few cases, I think.
Secondly, the auto mechanics are much more efficient (get more done in a short time) than do the airline employees.
Thirdly, they make the auto dealerships more profitable than do the car salesmen!
Fact is, costs must be cut to survive. Maybe airlines should have bought planes that didn't use expensive fuel, which I do think is now about even with labor expenses for an airline.

I expect that our government will soon subsidize fuel costs for airlines as a necessary thing for our safety--just as Europe does, and many other countries. Will the "conservatives" buy that?

However with such costs the glory days of high ticket prices and half empty planes is over. Also, large airlines may be allowed to buy out all of the discounters, which of course will end ordinary people flying very much.

I'm afraid it is the capitalist way! Make money or go out of business. We simply don't plan well anymore!

Cyclist's picture
Submitted by Cyclist on Mon, 05/26/2008 - 7:50pm.

thanks for validating "southwind's" point.
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carbonunit52's picture
Submitted by carbonunit52 on Mon, 05/26/2008 - 5:59pm.

Always enjoy people that are not in the indusrty ,voicing their opinions and have all the fixes.

I noticed this when I was a kid on the farm. Everyone who stopped by, especially the ones who did not farm, had advice for us on how to farm better. Us kids came up a saying (which we thought was pretty original): "Everyone thinks they're a farmer".


Cyclist's picture
Submitted by Cyclist on Mon, 05/26/2008 - 5:46pm.

don't worry about Sage. He just likes to hear himself talk. BTW, welcome fellow A&P.
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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.


Cyclist's picture
Submitted by Cyclist on Sun, 05/25/2008 - 4:48pm.

Airlines are right now pricing themselves out of regular customers instead of cutting expenses and salaries. All they will soon have are a few business customers. That also may die out greatly.

I don't know if you are keeping up with current events but the price of oil has driven ticket prices up. Fuel is now the biggest expense eclipsing labor a few years back.
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Submitted by sageadvice on Sun, 05/25/2008 - 6:29pm.

I remember such arguments from Eastern and others. Never wanted to cut all costs. Had bargained themselves into a corner.

I suppose it is time to have only about five airlines with common pilots. Some bigger planes for "important" people, and the rest of us could fly reasonable to red-nek Riviera on puddle jumpers!

I remember changing planes twice to get to Grand Rapids or Muskegon, MI!
Never got over 10,000 feet and flew through weather.
When leaving or going to Appalachia---walk.

Cyclist's picture
Submitted by Cyclist on Sun, 05/25/2008 - 6:37pm.

I guess you haven't kept up with current events; and you never got above 10,000! Was that when the airlines were only flying DC3's or before that?

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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.


Submitted by sageadvice on Sun, 05/25/2008 - 6:50pm.

Of course before those comfortable DC3s.
Had two wings on each side also--very safe---could land in a field easily. Did too. Carried mail.
A young feller---Lindy or something, was one of the pilots.

Cyclist's picture
Submitted by Cyclist on Sun, 05/25/2008 - 7:12pm.

in the early days air mail was the profit; that is until FDR signed Executive Order 6591 ordering the AAF to take over air mail. That killed a lot of AAF pilots.
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Caution - The Surgeon General has determined that constant blogging is an addiction that can cause a sedentary life style.


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