Monday, November 10, 2008

Time for a change...

Today Circuit City, the nation's second-biggest electronics retailer, filed for bankruptcy protection but plans to stay open for business as the busy holiday season approaches.  It said it decided to file for bankruptcy protection because it was facing pressure from vendors who threatened to withhold products during the holiday shopping period.  The company also sit it cut 700 jobs at its headquarters, after announcing a week ago that it would close 20 percent of its stores and lay off thousands of workers.  
The Richmond, Va.-based company, which has has only one profitable quarter in the past year, has faced significant declines in traffic and heightened competition from rival Best Buy, and others. 
I feel that every morning when I wake up there is another store that is going out of business or another company laying off thousands.  I am so thankful that I have not had to deal with this personally, but I am deeply saddened for all of the people that have.  Lets hope that with the new President starting in January that we won't have to wake up every morning to such sad news.  

-Carly Youngren

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