In 'the eye of the storm,' retailers ...

In 'the eye of the storm,' retailers shut their doors

There are 12 comments on the Baltimore Sun story from Nov 15, 2008, titled In 'the eye of the storm,' retailers shut their doors. In it, Baltimore Sun reports that:

As a government report showed yesterday that sales at the nation's retailers plunged to record lows in October, employees at Lauman's Home Furnishings in Perry Hall prepared to shut down for good.

Join the discussion below, or Read more at Baltimore Sun.

Jeff

Greer, SC

#1 Nov 15, 2008
THE BUSH, has sealed the deal, THE USA is DEAD. Congrats to THE BUSH..
Sandman

Dundalk, MD

#2 Nov 15, 2008
I never buy retail. Why should I pay their mark up which in many cases can be absurd. The American Consumer is spoiled. Retailers are middle men that buy large quantities of goods, and mark them up so the lazy consumer can buy them without much effort. I mentioned saving some money on a purchase to a former Boss a few years ago, and he said I am not going to walk all over the mall to save 50 cents. It's this brainless attitude that has created this massive debtor society we live in. Not to mention the loan sharking industry, CREDIT CARD COMPANIES!!!
All the dumb decision making by these massive corporations like the BIG THREE are coming home to roost on smaller companies. But trickle down economics is just some liberal fallacy. Right?
back to earth little one

Severna Park, MD

#3 Nov 15, 2008
The shit sandwich Bush & Co. fed us is a lot bigger than we thought; we may need extra ketchup packets. And something liquid to wash it down.

On the other hand, the only thing that will change because of BO-Joe is Mainstream American Media will "forget" to splash so much of this stuff over the front pages. They'll be doing more warm, fuzzy news in order to vindicate their choice. And because it'll be a lot less politically correct to criticize you-know-who.
back to earth little one

Severna Park, MD

#4 Nov 15, 2008
That was "...sh$tt sandwich..."
JOE

Chestertown, MD

#5 Nov 15, 2008
The market is going to keep going down until Barack gets in, then the media will pit a new spin on the subject, like "like Obama is in, we are saved", the people will buy it and start buyimg again. Look, at least if not more 50% of our problems are caused by what the media feeds us on a daily basis. The people in this forum are a perfect example as to how the media can brainwash the simplest of minds. Gang, there is only 2 % more of unemployment, this is not the great depression, the papers want to make you believe this, because it sells papers, despite what it does to our economy. Doom and gloom gets a lot of peopke elected and it seems to disappear soon after they get into office.
Richard in Silver Spring

Baltimore, MD

#6 Nov 15, 2008
We have a small clothing business and for the last few days, we have been having our sample/overstock sale, and we have had more business than ever. The women are buying, but they are bargain hunting and looking for value. It is very understandable. We are getting very few credit card sales, mostly cash.
Well, information is at www.glenmontdesign.com if in the area and looking for major bargains or designer/boutique clothes tomorrow.
jeffro

Coats, NC

#7 Nov 15, 2008
This is just the beginning, I know very few of you have any financial education. This will become a depression, then a collpase. Prepare as best you can, for many of you it's already too late. This will dwarf the great depression and surpass historical events such as WW 2 . This will be a milestone in time, there will be two points in modern history, the years prior to the credit bubble and the years after it burst. You better read the Mayor of Baltimore quote, "The city of Baltimore is about to enter something worse than the great depression" She is right and she is trying to prepare. I started these posts over a year ago, most laughed and never prepared.
Lawmans Honey

AOL

#9 Nov 22, 2008
Lauman's lost public trust during their most recent 'sales'. They claimed they were having a 'remodeling sale' and you would get prices drastically reduced. I earmarked a few items and they had actually raised the prices and then took discounts that made them higher than the regular store prices. I was furious. I had full intentions of furnishing my home and they play games of deceit. They are getting what they deserve!!!!!!!!!!
comment

Korea

#10 Nov 23, 2008
Lauman's should set up in PA.

Governor Rendell just put up a $35 million public loan to political backer Al Boscov which helped them to buyback Boscov's for $11 million in equity plus assumption of debt out of Delaware US Bankruptcy Court.

It is good to have corrupt political friends in PA. If Boscov's went under, we only have 6 other retailers which are in Top 50 employers in PA. They would have loved the additional business for running a better retail model. However, in PA, business skill doesn't matter. What matters are the corrupt lines of persuassion of our Governor. No wonder Obama passed him over.

Let's see. If Boscov's, which has a failed business model goes under, what's at stake nothing? Look at Top 50 Employers in PA, its disgusting.
#3 Walmart
#20 Target
#21 KMart - merged with Sears
#32 Sears - merged with KMart
#43 Macy's
#47 JC Penny
These lost employees will be quickly absorbed by 6 retail chains as will the consumer consumption. Throw in that there are 11 other companies in grocery/drug/quick stop retail, I don't think there is going to be a significant long-term impact to PA, should Boscov's go under or reorganize.

This is government and the Rendell adminstration at the worst. Everyone knows it is being orchestrated by him, whether he sits in on meetings or not. This idea was hatch to help out a fellow friend and this is not what government is for.

There are 44 other firms in PA larger than Boscov's. Is PA ready to spend $1.54 billion on bailouts of troubled firms?

$35 million is enough money to send 28,455 people to Lehigh Carbon Community College for 1 semester full-time ($1,230). They would be better off to upgrade their skills sets rather than stay in retail the rest of their careers.

This is government at its worst. Where are all the capitalists? And I am a Democrat saying this .
joyce webb

Scottdale, PA

#11 Nov 23, 2008
oh no not laumans i am going to miss this great furniture store i hope wayne lauman will reopen when this mess is over !
johnston pennypacker

Chicago, IL

#12 Nov 23, 2008
Wait till socialism kicks in with Stalin Obama!
Patty

Washington, DC

#13 Nov 23, 2008
Investors and business folks are worried to death about the new administration hitting capital gains. We are less than a month since election, and the stock market has reacted. His promises of social entitlement programs that SOMEBODY has to pay for add fuel to the flame. The anti-capitalism/socialism agenda will zap earnings and profits for millions. If he raises taxes we are positively doomed to a great depression. He acts like he never studied the depression era of the the 1920s and 1930s. Oh I forgot to mention Congress's plan to bailout the auto industry. The unions got the workers huge salaries and benefits. Now they outpriced the American car so we turn to the more dependable Japanese vehicles. That leaves the American public to bail out Detroit, because the auto companies were mismanaged. The majority in congress owe their buddies in Detroit. Lord help us.

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