Circuit City, in addition to its recently announced mass store closings and layoffs, has now eliminated hundreds of jobs from its corporate headquarters in Richmond, Va.
Carmax did Circuit City in. Too much concentration in the car sales business and not enough attention to electronic components competitors like Best Buy, Costco, Sam's, Wal-Mart, and BJ's.
tom 11/12/2008 at 5:36 PM
It is a shame where the country is heading with everyone loosing their jobs. However, there is a solution and I have it!! Have you ever thought of working for yourself? please look at www.1forhealthhomebiz.com for more info!!
Joachim 11/11/2008 at 5:39 PM
It is always sad to these things happen to anybody. But as was said many times throughout history "Those who do not know the history are apt to repeat it". I feel that the Circuit City management did a major NoNo by getting in price wars in electronics industry to the point of self-destructing. Even though their books keep on showing RED quarter after quarter ! Although it is necessary to be in competition, sometimes it is better to maintain 'margin' than to erode away all remaining capital. How many companies have you seen go 'under' last forty years exactly for the same reason ?
Makes you wonder what these kids learn in colleges now a days.
