51–60 of 276 posts
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Those toy stores were worthless palaces of consumerist made-in-china crap. I'm happy to see them go.
Where did you buy your Star Wars action figures? Your Lego sets? Or did you not play with toys as a kid?
It was K'Nex all the way for me.
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Those toy stores were worthless palaces of consumerist made-in-china crap. I'm happy to see them go.
Where did you buy your Star Wars action figures? Your Lego sets? Or did you not play with toys as a kid?
Earlier quoted context omitted.
Do we really want our kids to enjoy fluorescent-lit warehouses full of cheap crap that will be thrown away a couple months after it's bought?
There's something to be said for getting rid of excessive waste and unnecessarily large warehouses of "cheap junk", but it's also worth remembering that toys play a very important part in teaching children fundamental skills like hand-eye coordination, simple problem solving, fostering imagination, etc. It's a game of "what-ifs", but I'm fairly confident in saying I wouldn't be pursuing the career I am now if I had n…
I think the medium that kids play with 'toys' has changed with tablet and phone devices. Now they're solving puzzle apps and building Minecraft cities - whether or not that's a good or bad thing, I'm not sure, but it doesn't bode well for toy stores.
It really is unfortunate that stores I grew up with as a kid, ones like KB Toys, Montgomery Wards, Service Merchandise, Blockbuster, Kmart/Sears, and now even Toys"R"Us have gone by the wayside for one reason or another. It both depresses me and blows my mind that future generations may not even be able to experience Brick and Mortar.
Do we really want our kids to enjoy fluorescent-lit warehouses full of cheap crap that will be thrown away a couple months after it's bought?
that environment also gives you the ability to teach your children. from making choices, to behaving in public, to seeing other children do both, to being out of the house in a noisy environment that is strange, exciting, maybe even a little scary, all the while with a parent to help them understand.
plus where does it end, how much do we write off due to our prejudices?
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Fairly typical large cap PE strategy. Load the company up with debt then sell it off and let the company figure it out after. Note - not all PE firms do this (big or small) but it is a common strategy that does earn them money.
How is this not fraud?
Though this may have something to do with Amazon (and retail generally trending online), it does appear that the big culprit here were Bain Capital (and its partners) who took it private in 2005 via leverage buyout and ladened Toys r Us balance sheet with untenable debt from thereon. Apparently, they were paying $500M in interests alone per year vs. reinvesting capital in growth of their offline stores or online reta…
I have come to the conclusion that it is very hard for a specialty businesses to survive in the era of Walmart and Amazon - which does not bode well long term for places like Barnes & Noble and Gamestop. I hope I am wrong.
At least for Gamestop, you're probably not wrong. Amazon Prime gets you new video games at 20% off MSRP. That's cheaper than what the distributor sells them for.
Though this may have something to do with Amazon (and retail generally trending online), it does appear that the big culprit here were Bain Capital (and its partners) who took it private in 2005 via leverage buyout and ladened Toys r Us balance sheet with untenable debt from thereon. Apparently, they were paying $500M in interests alone per year vs. reinvesting capital in growth of their offline stores or online reta…
The town I grew up in has a great independent toy store, and I make it a point to shop there every time we're in town. Every time I find something unique that I would have never looked for on Amazon, and often I'm hooked by the tactile act of playing with something that couldn't be fully replicated online.
As an interesting aside, this particular store[1] fought for its right to keep their mural (which was awesome but violated city codes) all the way to the supreme court[2]. They lost, but you've got to admire the chutzpa of someone willing to do that.
[1] http://www.inlandoctopus.com/
[2] http://www.seattletimes.com/seattle-news/city-paints-over-wa...
I have come to the conclusion that it is very hard for a specialty businesses to survive in the era of Walmart and Amazon - which does not bode well long term for places like Barnes & Noble and Gamestop. I hope I am wrong.
I still go to B&N because I like to drink coffee and read magazines. I don't pay for the magazines, but I still spend like $10 on coffee and such. Gamestop has no hope for a continued existence with their current business model. Frankly, I'm surprised they are still around.
Do they not exist anymore because most kids are satisfied watching others play on the internet?
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How is this not fraud?
What's fraudulent about it?
The junior debt, of course, has nothing pledged to back it at all. Junior debt in leveraged buyouts is pure gambling.