Na na na naaaa
na na na naaaaa
hey hey hey
goodbye

Circuit City's stock is up 46% as of 9:38 CST.

Sooooo. You liquidated her. Very resourceful.

@SkokieGuy: thats what happens when it jumps from 1 cent to 1.5 cents.

I ordered a DVD from them. I pray it gets here safely by next Friday.

I love buying things at liquidation sales. I'm not sure if it's the feeling of saving 10% or knowing if there is a problem you can never bring it back.

Smell ya later CC

@zacwax: smell ya later forever

@exo: Ya buy 100,000 share of a 1 cent stock, pay $1000.00. Stock goes up to 1.5 cents, you sell three hours later for $1,500.00.

This is bad, why?

It's a bad idea to let Bestbuy take all the market share. It will means MONOPOLY AND HIGH PRICES! They are already high in prices.

I better return the keyboard I got there. It's been sitting here since Christmas, but I haven't been out because my transmission went. I'll be getting a ride there this weekend so I'm not stuck with it!

@Ken: I'll to continue buy from Newegg. Best Buy wanted double what Newegg was charging for 2GB of Memory.

@Ken: CC is just a clone of Best Buy. There's still plenty of competitors. What can you really get at Best Buy that you can't get at Wal-Mart, Target, Amazon, Newegg, etc?

@Chaz Mangus: the question is are you really getting 10% off or have the liquidaters jacked up the price 15% then gave you 10% off. questions questions

So how long has Circuit City been restructuring? Seems like a word I head every time they mention them over the last few years.

soo, guess I better spend the last $20 some odd bucks I had lingering on a CC giftcard

@SkokieGuy: because its exactly that kind of quick time turnaround that hurts the stockmarket in the first place.

Unfortunately while everyone else is rejoicing about this it means less competition for electronics retailers, which means higher prices for consumers. Also more job losses which means that there will be many more unemployed people that will be unable to find jobs. At least they waited until after Christmas to sell out, instead of telling workers they will be out of a job during the holiday season. It doesn't just affect seasonal and part time workers, but those who were expecting to have steady, lifetime jobs at the top of the chain.

This is of course provided they decide to liquidate their assets.

I have gotten some good deals in the past from them on video games and whatnot so I am kinda sad to see them go.

@SkokieGuy: This is usually what happens when a takeover is announced. The target company's stock goes up.

Question: My tv, purchase from Circuit City, is broken and scheduled to be fixed under warranty early next week. If it is unfixable, is the manufacturer responsible for its replacement? Or is Circuit City?

@Blaaaah: +1 for newegg. Brick and mortar itself is only worthwhile in the first place if you get good service, which eliminates most bigbox retailers.

I'm not normally a huge advocate of Creative Destruction (though I do enjoy some good destruction every now and then), but these people saying the end of CC means BB rules the world should meet my new friend h.h.gregg.

Or newegg.
Or Amazon.
Or any number of online merchants that sell the same thing for less.
Or, heaven forbid, find one of the last remaining local retailers of furniture/electronics in their town.
Or, for a good laugh, stop by Sears.
Or one of the 175 GameStops within a 30 minute driving distance.

Though it's departure means another unsightly vacancy hole in a power center, CC won't be missed, at all.

Sorry.

one of the "undisclosed potential buyers" is bestbuy; most BBs have been in a hiring freeze because they'll probably soon have a bunch of excess new employees.

SO here's a questions.... The Fiance, bought a PS3 and a 32" 1080p LCD from Circuit Shitty over the summer and bought in on the extended warranty, is she totally hosed with the extended warranty if CCity goes Tango Uniform (Tits Up)? Anyone know if it is possible to get the $'s back or a gift card to use up in a hurry for the extended warranty?? Thanks!

A few years ago there were a few electronics retailers within spitting distance of each other near where I live: Computer City, CompUSA, and Circuit City.

So the lesson is not to name one's electronics super-store in the fashion of a fictional location. (I know CompUSA is still in business, but that location shuttered its doors a while back).

I have no explanation for "Nobody Beats the Wiz", but even when I was 12 years old I knew that was a damb stupid name for an electronics store. Or anything.

@Spaceman Bill Leah:
Warranties are covered by third party companies, and are not affected by the store's proceedings. Your repair, aswell, is a third party.

@SkokieGuy:

The stock basically went down to $0.12.
100,000 * $0.12 = $12,000.

Do you want to take a chance with $12,000 of your hard earned money on a bankrupt company?

I work for Best Buy, and I do agree that CC going down is going to be a bad thing all around. No competition means less progress in the market. Over the past year I've seen cost of products come down, but services and service plans go up (albeit only about $10 at the most).

I want them to hang on there, if only to offer a solid form of competition to my company. I mean, Costco/Sams Club/Walmart, they don't offer the kind of high end products we do most of the time. In many areas CC and BBY are the only B&M stores than offer them.

@zeabrid: Even if it's the original manufacturer warranty? Not an extended one. Good to know. Not that it matters since I think I am the only person left in this country who actually wants to own a non HD tv and probably won't be able to find a replacement for it.

@dcarrington01:

check your warranty paperwork, i bet the extended warranty is handled via a 3rd party company.

Liquidated.. so, they're products will be even more overpriced.

Won't go there anytime soon.

@cromartie: "CC won't be missed, at all."

Tell that to all the people who would be out of work if the stores do shut down.

Would someone please photoshop that dog so he's holding a pink slip in that outstretched paw...

I'm more concerned with the CC credit card end of things - I got one a few years ago that I almost never use, but which nicely bumps up my available credit. I know the cards are through Chase, but will they be replaced with other, non-CC cards, or just terminated altogether?

Best Buy has enough of its own problems...they know if they raise prices, they will be toast. People (in general)aren't buying electronics anymore. Food and mortgage payments come first.

What's the deal? They just opened a *brand new* Circuit City location in my city and have signs up that they are *hiring*. I saw it and laughed/felt sorry for those who get jobs there. Are they going to tell them that they just got hired aboard a sinking ship?

@Chaz Mangus: Saving 10% after they mark it up by an additional 50% on most items, right? ;-)

@exo: because its exactly that kind of quick time turnaround that hurts the stockmarket

Can you explain to me exactly how it hurts the market...because I don't think you know what your talking about...

@SkokieGuy: I think happens with all stocks when the company is failing and there is a slight chance of being bought. People buy the stock because it is so cheap then because of the huge amount being bought the stock goes up a little then people sell it to make a little bit of money.

@zeabrid: Insult much?

Chill.

@Blueskylaw: actually now it's .27, so you'd be risking $27,000.

And yep, it would have been a good friday for me if I had risked that $12,000 yesteday and sold for $27,000 today.

But, I didn't...I only have 190 shares of CCTYQ. I bought mine around .50 cents though, just as a $100 experiment. I'm still down $38.88 :(

The loss of Circuit City is not a good thing! People are caught up in the elimination of CC and rejoicing; however, after the euphoria wears off, we will still be stuck with Best Buy.

@SkokieGuy: In high school we did a semester long investing project and the person who got the most earnings at the end got bonus points. All the top people had initially invested in penny stock. I think K-mart was a big winner because it was a year after their bankruptcy and their stock was really low.

@hegemonyhog: Depends on your credit, and if you have a CC department card or CC visa.

@Jenkinsbball: Their*
I'd be surprised if you'd even know if they're raising the price, usually the inability to do math goes right along with your obvious inability to use proper grammar.

I'm sad. I liked them. I got almost all my big electronics at their store and haven't had a lick of trouble. I hate our BB. It's noisy and the salespeople are idiots. And the Geek Squad is a joke.

I will miss them.

Normally I ignore the comments on here that I think are pointless or rude, but I think Zeabirds taking it a little far. Moderator out to lunch still maybe?

@zeabrid: Mr Zeabrid:

Jeez, man, consider taking a pill. Your comments in this thread range from abusive to nasty.

May we assume that you are a Circuit City employee, and are (correctly) irritated by all the grave-dancing?

I'm not trying to be a dick. I'd be interested in what you have to say.

@Spaceman Bill Leah: Your manufacturers warranty is covered by them, but they'll still use a third party to fix it.
(and still isn't affected by the company)