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Personal Finance

Mervyns bankruptcy a challenge to cities

THE repercussions started by the subprime mortgage crisis and record number of foreclosures in the Southland, followed by high gasoline prices and the monthly toll of rising grocery bills, are now reaching the ...

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jhon ramirez
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#1
Jul 30, 2008
 

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I THINK MERVYNS IS GOING INTO MEXICO AND WILL EMPHIZED BORDER TOWNS MARKETS WITHIN MEXICO AND WILL RELOCATED HQ TO TEXAS
concern parent
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#2
Jul 31, 2008
 
what happens to your credit account
Covina Man
AOL
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#3
Jul 31, 2008
 
Bankruptcy? How? Everytime I go to Mervyns there is a huge line at each register or 2 or 3 people ahead of me in line. Seems like business is brisk. Also, middle class Hispanics seem to like Mervyns alot and they seem to make up most of the fellow shoppers I see when I`m there.
ACM
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#4
Jul 31, 2008
 
When Kohl's stores started opening in California a few years ago it made it tougher for Mervyns and it may be even JC Penney with huge inventory and huge competitive prising.
It's hard to imagine if they are even making money. They may be next on the chopping block.
BOB2
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#5
Jul 31, 2008
 
But, there is no recession. There is no inflation. This must just be more "liberal" propoganda. The United States Commerce Department said the economoies growing, just today! I read it on CNN. They wouldn't lie to us for political and financial gain, would they?
krissy
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#6
Jul 31, 2008
 

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when I was in there last they were playing mexican music. That really made me mad, so I walked out! I will not shop at mervyns! This is America! not mexico!!!!!
Deborahwhat
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#7
Jul 31, 2008
 
krissy wrote:
when I was in there last they were playing mexican music. That really made me mad, so I walked out! I will not shop at mervyns! This is America! not mexico!!!!!
Whats Mexican music? Be more specific. Was it in Spanish and do you understand spanish to know it was Mexican? Or was it Salvadorean, Guatemalean, Brazilian, Italian, Spanish, Cuban, Puerto Rican...I dont get your ignorant comment.
jas
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#9
Jul 31, 2008
 
The west covina mall is really sad now, what happened to all the great stores and variety, now it resembles a swap meet and how many shoe stores can a mall have? It looks pretty shabby too, West Covina Westfield Ghetto Shoppingtown.
dtt
AOL
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#10
Jul 31, 2008
 
krissy wrote:
when I was in there last they were playing mexican music. That really made me mad, so I walked out! I will not shop at mervyns! This is America! not mexico!!!!!
Maybe then, you should get out of CA, since you have a phobia of "mexicans" You are quite the racist, I don't think Mervyns wanted trash like you shopping there anyways.
john paul
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#11
Jul 31, 2008
 
all music played in a department store usually blows in any language.
cally
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#12
Jul 31, 2008
 
Well, you all are screaming at her for disliking the music, but you are the ones being abusive, and telling her she is trash, calling all kinds of names. The fact is that she is right about one thing - this is California, but you wouldn't know it in certain parts of the State. Why do you assume I am racist to say that? Parts of the area are Korean, some cater to Chinese, and various other cultures are represented. At Olvera Street, a place I love, I do not fit in because I am not hispanic; I still love the place. You hostile people should be more accepting to other opinions.
mad
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#13
Aug 1, 2008
 
i blame Walmart and Target for the decline of mall stores and mom and pop stores throughout the US.
BOB2
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#14
Aug 1, 2008
 
I'm not really into Department Store musak. I worry more about the substance of the story........

I would blame over reliance on retail as a major problem in the U.S. economy period. The U.S. has the highest square footage of retail per capita in the world. At some point it had to stop.

The chains that over expanded like Starbucks and William Sonoma, under cutting their own branding, are now retrenching, as they should. The weaker chains are folding because they had an unsustainable growth model. This will suck for retail workers.

This retail eternal growth in stores and profits phenomena was likely to stop, sooner or later, regardless of our self inflicted liquidity crisis.

The U.S. liquidity fiasco (letting un-regulated banking create two to three trillion in inflationary money supply, through unsustainable credit schemes, and borrowing for Federal deficits, in a time of war, without paying for them) has caused the dollar to collapse.

These retail franchises increasingly were able to expand stores and profits with cheaper imports.

A now worthless dollar equals no longer "cheap" imports, including oil. This has accelerated the squeeze on retail, and made this retail retrenchment more immediate and will make it much more severe.

Mall and retail projects are being cut everywhere now, further depressing the economy. This increases pressure downward on construction, and, of course, banking, which had all those loans out for all of those projects. This is the "other shoe" that all of the "money honey's" on cable TV have been alluding to in the banking crisis. Construction workers are going to hurt more, too.

As usual, the Commerce Department says this is "not" a recession, we are having "real" economic growth. The Labor Department says that there is no inflation, prices are stable for everything you buy. And, of course, we all believe what this government is telling us these days, right?
krissy
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#15
Aug 1, 2008
 
what's wrong huh? can't handle the truth? lol
krissy
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#16
Aug 1, 2008
 
Deborahwhat wrote:
<quoted text>
Whats Mexican music? Be more specific. Was it in Spanish and do you understand spanish to know it was Mexican? Or was it Salvadorean, Guatemalean, Brazilian, Italian, Spanish, Cuban, Puerto Rican...I dont get your ignorant comment.
you got a problem? seems like you have a lot of hate in you!
bp girl
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#17
Aug 1, 2008
 
krissy wrote:
what's wrong huh? can't handle the truth? lol
maybe the truth is, it wasnt about the music. maybe you realized they wouldnt take your food stamps.. lol
JCB737
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#18
Aug 1, 2008
 
Mervyns caters to all the illegal immigrants, Urrrrrrr? Go into one of they're stores and you will actually hear them playing SPANISH music over the intercom.

Americans don't want to shop at stores like that.

Hey Mervyns - it's your own DUMB ASS fault.
Good Luck.
El Loco Gringo
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#19
Aug 1, 2008
 
It is beginning to sound just a tad bit racist, to me. Maybe JCB is really Viking Knights bunk buddy in prison? Yet, he's got a "homey" sounding spanish address in Rancho Duarte? Don't you love these people, aren't they a real hoot?
American Citizen
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#20
Aug 1, 2008
 
Let me guess. All those shouting racist are mexicans, right?
Diamond B CA
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#21
Aug 2, 2008
 
DID I HEAR I.N.S. better yet, I.C.E. Watch out now!!!!!!!!
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