Ruby Tuesday closing 70 restaurants

Ruby Tuesday closing 70 restaurants

Posted in the Knoxville Forum

News4U

Knoxville, TN

#1 Jan 7, 2009

ACW

Since: Oct 08

Orlando, Fla

#2 Jan 7, 2009
Sure hate to see them closing down stores, but really can't say that I'm surprised. They did those big make overs, re did their menu, and raised all prices, not a wise move in today's economy.
just wondering

Miami, FL

#3 Jan 7, 2009
wonder if they will still honor the "buy one get one free" coupon in todays kns ?
Just a thought

Knoxville, TN

#4 Jan 7, 2009
The plan is to close 40 after August and the other 30 over several over the next few years, and that will still leave 643 open. I wouldn't worry too much about your coupon unless the plan changes.

Since: Feb 08

Here and there

#5 Jan 8, 2009
You wait, this is just the beginning. there will be many retail, motels, malls, etc that will be next.
60 Gunner

United States

#6 Jan 8, 2009
CC Deville wrote:
You wait, this is just the beginning. there will be many retail, motels, malls, etc that will be next.
CORRECT!!!!
LOGIC PLEASE

United States

#7 Jan 9, 2009
CC Deville wrote:
You wait, this is just the beginning. there will be many retail, motels, malls, etc that will be next.
Yep,the slow down is just starting.
I get e-mails from dovebid.com .
They auction off industry.
In December I got over 35 mails about Industrial auctions in America.
When industry slows down,so does everybody else.

Since: Feb 08

Here and there

#8 Jan 9, 2009
Yep, it was on the news this morning about people loosing more jobs and it has even effected the big giant WalMart! I believe that the unemployment rate is higher than 7.1%. They get that number by people that actually file for unemployment benefits. many people do dot file, but i bet there are more people out of work than we know. 2 million jobs lost last year and more to come, you watch.
Just a thought

Sevierville, TN

#9 Jan 9, 2009
One of the reasons for the slowdown may be that most people are maxed out on credit and have no choice but to spend less. If enough people decide to pay their debts and stop living on credit, it will slow down the recovery but make it more solid. Excessive credit use of credit makes for short-term prosperity but long-term problems, which we're seeing now. The longer that kind of "bubble" grows, the more catastrophic its burst is.

Earl Keese

“global warming is a hoax”

Since: Apr 08

knoxville

#10 Jan 9, 2009
i think the overuse of credit and other unwise spending habits, comes from the fact that our true spending power is almost nonexistent.

for longer than most realize, we've been taxed to the absolute maximum and then some.
business taxes.
payroll taxes.
sales taxes.
numerous hidden taxes we fund every time we open our wallets.

there's not a single business in this country that actually pays their own taxes.
it's passed on in the price they charge for their product/service.

so when we have a situation like a spike in gas prices which immediately leads to inflation all across the board, we cut our spending to the bare bones.
some have no choice but to use credit just to get by from time to time.

discretionary spending is the 1st to be eliminated.
dining out.
trips/vacations/recreation
cars.
boats.
clothing.

all of those we soon realize we can live without.

and then toss in the housing/financial problems on top of it all........
listening and reading what governors from other states are saying, mirrors what we're seeing all around us.
job losses everywhere are at record numbers.

it's not just credit card abuse.
it's everything about our economic system that's to blame.
because it's all based on credit.
what's worse is that the two major items are the two things we don't constantly need to keep buying over and over again.
cars and homes.

but back to the topic of dining out.
the cost of a decent meal for two at a restaurant, can be parlayed into quite a few meals if you go to the grocery store and make the meals yourself.
that makes it a no brainer as to where to stop extra spending.

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