Blockbuster Posts $11.9M Third-Quarter Loss

[DavidNewlySL]

Originally Posted by SpiceCake

This is hilarious. In what could be considered a "follow-up" article to the one I posted earlier, it is reported that Dish CEO Joe Clayton insistent on predicting a resurgence in BB's business:

“I believe that we are properly positioned to capitalize on a seasonably stronger fourth quarter,” Clayton told the magazine. “We'll also have a deeper inventory and high-impact titles that will be released during the fall selling season. This has been accomplished by negotiating improved trading terms with most of our studio partners.”

Link: http://www.homemediamagazine.com/blo...ckbuster-28796

You have to be kidding me. If this was any other business that had been performing this dismally for so long and was faced with an equally bleak future, any reasonable executives would read the writing on the wall, so to speak, and liquidate their inventory (e.g., the Circuit City downfall and liquidation).

It seems that, instead of having good reason to believe that brick-and-mortal retail stores are the future of the movie/game rental business, it's actually the other way around -- they think that the future of movie/game renting SHOULD be with brick-and-mortar stores. Are the headaches of insisting on continuing to operate the remaining BB stores for the purpose "just because" really worth the money they're losing every quarter? Even if they post another $3-4 million dollar profit like they did last year, is a couple million dollars really worth all the trouble to a company that earns billions?

It almost seems like Dish is run by a bunch of out-of-touch old farts who are nostalgic for the glory days of VHS renting and just want the experience of running a chain of video stores.

You should use google more often, and look up why they are keeping the stores, then you will understand, just saying.

[SpiceCake]

Originally Posted by DavidNewlySL

You should use google more often, and look up why they are keeping the stores, then you will understand, just saying.

To your point, each of the articles I have posted was originally discovered through Google News. The only piece of news that has been released within the past month or so regarding what you're referring to (Dish's mobile venture) is the announcement from Dish where they said they were abandoning their plans for the wireless spectrum (or at least, that they were abandoning pursuing BB's role in it). That's what Dish's last word has been -- that they're abandoning their plans, although (and this is paraphrasing) they still feel that some rural BB locations might still be profitable for the long term.

If I recall correctly, Clayton or Ergen said that their purchase of Blockbuster isn't going to end up being a "transformative" decision like they'd hoped it would become.

Again, if there was news regarding Dish pursuing their wireless plans involving BB, I'd post that as well, but there has been absolutely nothing reported in the news as of late except for the announcement that Dish is abandoning the wireless thing (besides the announcements regarding the losses).

Also, in the second article I posted, why didn't he mention anything about the wireless plans hopefully helping them in Q4? All he mentioned in regards to why they think they'll have a strong Q4 was because they'll have deeper inventory and better movies being released.

[DavidNewlySL]

Originally Posted by SpiceCake

To your point, each of the articles I have posted was originally discovered through Google News. The only piece of news that has been released within the past month or so regarding what you're referring to (Dish's mobile venture) is the announcement from Dish where they said they were abandoning their plans for the wireless spectrum (or at least, that they were abandoning pursuing BB's role in it). That's what Dish's last word has been -- that they're abandoning their plans, although (and this is paraphrasing) they still feel that some rural BB locations might still be profitable for the long term.

If I recall correctly, Clayton or Ergen said that their purchase of Blockbuster isn't going to end up being a "transformative" decision like they'd hoped it would become.

Again, if there was news regarding Dish pursuing their wireless plans involving BB, I'd post that as well, but there has been absolutely nothing reported in the news as of late except for the announcement that Dish is abandoning the wireless thing (besides the announcements regarding the losses).

Also, in the second article I posted, why didn't he mention anything about the wireless plans hopefully helping them in Q4? All he mentioned in regards to why they think they'll have a strong Q4 was because they'll have deeper inventory and better movies being released.

If your a ceo wouldnt you do the same? They are trying to invest a little into the stores and see them profit without having to infuse the dish stuff, until they can infuse the dish stuff.

[BBStoreMgr112233]

Originally Posted by SpiceCake

To your point, each of the articles I have posted was originally discovered through Google News. The only piece of news that has been released within the past month or so regarding what you're referring to (Dish's mobile venture) is the announcement from Dish where they said they were abandoning their plans for the wireless spectrum (or at least, that they were abandoning pursuing BB's role in it). That's what Dish's last word has been -- that they're abandoning their plans, although (and this is paraphrasing) they still feel that some rural BB locations might still be profitable for the long term.

If I recall correctly, Clayton or Ergen said that their purchase of Blockbuster isn't going to end up being a "transformative" decision like they'd hoped it would become.

Again, if there was news regarding Dish pursuing their wireless plans involving BB, I'd post that as well, but there has been absolutely nothing reported in the news as of late except for the announcement that Dish is abandoning the wireless thing (besides the announcements regarding the losses).

Also, in the second article I posted, why didn't he mention anything about the wireless plans hopefully helping them in Q4? All he mentioned in regards to why they think they'll have a strong Q4 was because they'll have deeper inventory and better movies being released.

Despite what many of you think, I am not an idiot. I realize this business, without change, won't be around much longer. No, Dish aren't idiots either. They are not going to continue to throw good money after bad.

However, they do have a plan. It has taken longer, much longer, than they first anticipated. They too realize that without change they can't continue to afford to go down this path.

I imagine they will close some more stores after the 4th quarter. These will mostly be the larger stores where monthly costs and montly revenue simply doesn't add up with one another and as the lease expires, so will that store. And without a change, I don't see more than 200-300 stores left another year and a half from now.

With that said, Dish has not given up on their plan. If you read beyond the one-sided front page articles you see in Google News you may start to find this information. I think the quarterly conference calls after earnings, the information they share with investors and share holders, is the more telling information.

And despite what a couple current employees, who by the way don't know their ass from their head, have said, they are not opening new stores. Do they have a designed ideal footprint for future stores? Absolutely, and if their long term plans ever take form, it is quite likely they will begin opening new stores.

Until a decision is made by the FCC, who has promised a decision by the end of the year, and until they can identify a partner to help build out a wireless network which they can market to their current customers and beyond, nobody knows what will happen. If the FCC doesn't approve their desired use for the wireless spectrum, we all know what will happen. If they can't identify and form a partnership with an existing mobile company, we all know what will happen.

But I am not an idiot. Right now, I believe my current position with this company is best for me. With the economy and unemployment the way it is, there isn't a lot of opportunities out there and the ones that are aren't really any better than where I am out now, in my opinion.

So in summary, yes Blockbuster is dying. It has been for years but it isn't dead. Dish does have a plan, but it may never happen, and not by choice but by circumstances. They have done some very good things in stores and at the corporate level. They still have a long way to go. Will they ever get there? Nobody knows for sure but the next year or so will certainly tell us all what we want to know. And we all know what most of you hope will be the end result but I am sure you'll let me know again in response to my post.

[zooworker]

Gee, how many people lost their jobs due to bad decisions from BBI CEO? And now dish? From almost 3000 stores to less than 900. That has beeen a lot of lay offs to me.....And more to come. ............dish kows it made a bad investment....so deal with it...

[Hot Head]

It getting weird some say dish is a subsidiary of at&t

[KAWLIGA]

Originally Posted by zooworker

As usual, your post are dumb....

"you're"...."posts"

[KAWLIGA]

Originally Posted by BBStoreMgr112233

Despite what many of you think, I am not an idiot.

No...seriously...you're a fucking idiot.

[AbandonedDreams]

Originally Posted by KAWLIGA

"you're"...."posts"

Zoo actually used the correct version of your.

[DavidNewlySL]

Originally Posted by KAWLIGA

No...seriously...you're a fucking idiot.

about as dumb as someone who has sat on a website for 10 years waiting for the company to close?..