One of today’s phrases that is sorely in need of being retired is “…in today’s economy…”. While true, it’s way way overused.
Unfortunately, it happens to fit U.S. NEWS AND WORLD REPORT’S LIST OF 15 COMPANIES THAT MIGHT NOT SURVIVE 2009.
We’ve already seen Linens-n-Things and Circuit City close up shop this year. Muzak filed Chapter 11 today. The question is, who’s next?
According to US News, the ones to watch this year are:
- Rite Aid – seriously, do we need a drug store on every street corner? From where I am sitting right now, I am walking distance to a Walgreen’s, a Rite Aid, a CVS, and two supermarket pharmacies.
- Claire’s Stores – Does anyone really buy this stuff?
- Chrysler – It’s not a matter of “if” anymore. It’s a matter of “when”.
- Dollar Thrifty Automotive Group – I’ve heard a few horror stories about renting cars from them. Some good stories, too – but they’re outnumbered by the bad.
- Realogy Corp – with housing in the dumpster, it’s no surprise that realty companies would take a hit
- Station Casinos – catering to the Las Vegas locals is a good idea. Over-extending and building mega-style resorts may have bit them. I hope they stick around, though. Green Valley Ranch (as featured on American Casino) is phenomenal.
- Loehmann’s Capital Corp. – women’s discount clothing, apparently, doesn’t come cheap
- Sbarro – if you can’t make money by selling a $3 pizza slice that only cost you pennies to make, something is horribly wrong with your business model. Of course, you also may have heard reports of pizza ingredient pricing rising this past year, but even so…pizzas are cheap to make compared to other mall foods.
- Six Flags – Looks like Mr. Six will be deep-sixed. Actually, they have a decent product but don’t know who they’re catering to. Focusing too much on thrill rides took away the family market, and their recent decision to not build huge thrill rides anymore took away their teenager market. Not a whole lot of audience left.
- Blockbuster – failed to keep up with the times and NetFlix is kicking ’em. On the bright side, at least they didn’t follow through and buy Circuit City last year.
- Krispy Kreme – the Atkins Diet did them in. I’d hate to seem them go. I could see somebody swooping in and buying them up.
- Landry’s Restaurants – focused too much on touristy-friendly restaurants, like Rainforest Cafe, as opposed to restaurants you would want to go to over and over again. Good food, though.
- Sirius Satellite Radio – who didn’t see this one coming?
- Trump Entertainment Resorts Holdings – The Donald will figure out a way to fix this, somehow. The Atlantic City real estate alone will be worth something.
- Bearing Point – a consulting firm that’s in financial trouble? Must not listen to what they tell other companies.