I actually don't mind CC too much - Like them better than Best Buy!

Not to sound omniscient (in fact, I'm sure I was far from alone in this thought), but my quote from Jan 8 of this year I just found:

Franklin Comes Alive!
11:05 AM on Tue Jan 8 2008

CC is the next CompUSA, no doubt. They'll be in bankruptcy by the end of 2008.

Hope they have some decent going out of business sales.
There was an iPod dock I was eyeing their just the other day...

I hope it will have a better going out of business sale than CompUSA.

Oh please! Where else can I pay more to get less? Oh, Best Buy. And as a bonus, they will sell me a fictitious warranty protection to boot!

Perhaps there's some hope the government has a provision in the bailout bill for Circuit City somewhere.

The only thing that stores got going for it is that BO smell when you wall though the doors.

I just spent a few bucks to buy some shares of CC. I figure, if they pull themselves out in the next couple years, sweet. If not, I'm only out a few bucks.

Here's hoping.

time to buy stock. Someone will buy them up atleast for their name and the price will go up on the stock.

Thanks for running my tip! And yes it seems CC is doomed. I think after the new year we will be seeing most if not all the doors closed. So don't buy any of their store warranties!

This is really starting to seem like that aunt that just won't die.

Semi-inside information: Expect Circuit to declare bankruptcy in the next three days.

@vastrightwing: The warranties aren't fictitious, just mostly useless.

I tend to get better service at my local Circuit City than I do at the Best Buy across the street, so I may actually miss them if they go under.

@hillsrovey: +1 on that. I'd much rather go there than BB. And as much as some of us hate certain companies, it's never good when they go under. That's lot of jobs lost and tax revenue local cities would otherwise be getting.

But, there is still that little bit of satisfaction you get when horrible companies go down in flames. :)

@xtc46:
Except that a smart buyer would probably not buy a company that has outstanding leases in hundreds of cities around the country who's citizens are afraid of spending at the moment.

If there is a buyout, it will likely occur after they file for bankruptcy so that they can cherry-pick what they want while leaving the rest for the attorneys.

If they file for bankruptcy, your $0.43 stock is worthless..

@xtc46:

Not likely.

Any buyer with a lick of sense knows that they can get the same name or any other piece of the carcass for a lot less after a chapter 11 (or 7). Buying stock now is like buying a (cheap) ticket ona ship sure to sink.

@InfiniTrent: Jim Cramer is that you?

They're on their way to bankruptcy, but they've always had lower debts and cash on hand so I'd be surprised to see it happen before next year. It's possible, but I wouldn't bet on it.

Given their lackluster position in real estate and diminished brand another company would be insane to purchase them in this economy. Someone'll probably bite, though.

@hillsrovey:

That's funny. In my area, Jerkit City has a terrible selection, and very bad service. The Best Buy across the street has great service, and a lot more to choose from. The store is even kept up better as well.

To be exact, I have never had the problems with BB that I read about here and elsewhere. I must live in the twilight zone.

I bet their six-month-long clearance sale will be a complete joke, too.

Good riddance to rubbish. Glad to see the majority of Americans are staying away from that trash dump.

@vastrightwing:

They can't sell you the warranty if you refuse to pay for it.

If it didn't happen 13 years ago, making it irrelevant now, I could tell a great story about CC and how their corporate HQ lied and sent my future/current wife on a run-a-round of highly unprofessional proportions. All because she had proof my CC credit card had a zero balance due.

BB always has lower prices than CC in my area, and will price match as well. I don't want to see either store go, as direct competition is a great thing for the consumer.

If they aren't gone before the end of the year, I'm sure weak holiday sales will be the nail in the coffin.

I worked at CCity for 4 years.

Just told my Manager that I Quit since they look like they might not be able to pay employees at this rate.

I heard on the radio today they are opening a new circuit in Richmond. Probably a bad idea. They have some washed up NFL players at the grand opening this weekend.

Circuit City and Best Buy stores are different everywhere, for various reasons. What needs to be looked at is the differences in the two which are universal and company-wide.
Two stick out for me; the first is Best Buy's employee training program, from customer service, to product and service knowledge and skills training, results in far more knowledgeable sales persons. The other is Circuit City's lack of a restocking fee on televisions, which is abused far to much as free rental, resulting in losses for Circuit City.

@hillsrovey: Sure, in the way I'd rather be shot fifty times instead of a hundred.

@tande04: Yeah, maybe they'll have a 50% off sale and bring the prices down to buy.com level.

I would not care if they went under, but I am concerned about all the employees who may lose their jobs. :(

@hillsrovey: Honestly, I'd rather wait on the shipping from TigerDirect.com or NewEgg.com than walk into either of those stores. For the need in a pinch stuff, there's a Fry's close-by.

Or if I really need to, Radio Shack. **shudders**

@DePaulBlueDemon:

I think that's the one thing that saddens me/disturbs me the most about those that want Circuit City to "burn in hell" and such.

Yes the stereotype is that the vast majority of employees are high schoolers/college kids who don't care. However, there are plenty of adults in the business that work there because they love their job, and give 100% every day they are there. There are thousands of associates like that accross the country, and it's sad how many people are thrilled with the idea of them losing their job.

Scared for America. We don't have a market where we can have 42,974+ lose their jobs. Thats not counting the people Circuit city out source too....... We need them to stick around....retail jobs are no longer a dime a dozen...most retailers are cutting hours and staff....this looks ugly

My prediction: Citigroup buys them.

@Quatre707: BBY doesn't have a restocking fee on TVs, either, and when I was at Circuit it never really hurt us. We'd rock out around the Super Bowl and only get a few returned. Most of our returns overall were actually swaps for something different.

As far as training, BBY's ain't that great...but CC's is non-existent. Four years ago the eLearnings were worthless, and the best knowledge came from the managers and experienced salesmen. The latter were all fired and there are far less of the former.

Ugh, this is terrible. The Circuit City near me is WAY better than either of the Best Buys.

I knew it! I was the only thing holding the company out of complete failure!

Today the stock market said that shares of Circuit City are worth 43 cents each. Or, put another way, the whole company (buildings, cars, equipment, fixtures) is worth only $72million. All 682 stores. At the end of the last quarter, the company had $92million in cash, and they lost $607million during the quarter.

It doesn't take an expert in math and business to figure out that they don't have any money to buy inventory from manufacturers for Christmas. But, you say, they could get a loan. From who? Who is lending right now?

If you work there, I recommend not spending another minute working, as you might get paid this week, but not next week. I do feel for you. Start looking for something else, like now.

For consumers, don't bother buying anything there, as you may not have a store to return things to for an exchange or a refund (that's really funny).

They should have Firedog install a new corporate strategy.

How could they survive? I would imagine every store that has been losing money is screwed. They have no money and cannot get credit. Therefore they can't pay anyone.

@Raiders757: Jerkit City doesn't sound as bad as our area Circuit Shitty.

CC, BB and then Futureshop all going under would be a dream week for me.
I wonder if they will push extended warranties during a going out of business sale?

@DePaulBlueDemon: I do care if they go under. Best Buy left to its own devices will only lower customer service and raise prices w/o Circuit City's presence. I'm not saying Circuit City was particularly good, but they were another option to Best Buy.

So, the real question is whether or not I should go ahead and buy my Christmas gifts there with the no-interest financing on the presumption that Chase will honor the no-interest financing, or just skip it entirely?

@hegemonyhog:

(Under the presumption that CC is about to go out of business.)

People still buy technology in B&M retailers? Thats a new one to me...

No competition for BB means higher prices, poorer service etc at BB.

Without a strong BB, what do you think will happen to NewEgg and the other dedicated online vendors?

This is one big circle jerk.

Not saying we all need to go panic buy sheeitt off the CC shelves.... but if we don't start buying something from them we could up just paying more for everything we do buy in the future.

I have not stepped a foot inside one since they fired all the good help instead of their crappy execs.

@MercuryPDX: Of course not.

/weird sound effect

@Onion_Volcano: New stores aren't their problem - it's the old stores in bad locations that are the real money suckers.