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  #21  
Unread September 8th, 2010, 02:19 AM
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Sept 24th bad news on Fridays, media pays less attention.
  #22  
Unread September 8th, 2010, 05:15 AM
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I'll give it until close to the end of the month. They'll probably want to file as closely as they can to the date that they would ordinary cut their rent checks. Keep in mind that a lot of the debt that they have are the liabilities on their leases.
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  #23  
Unread September 8th, 2010, 05:34 AM
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Does it really matter what the day is? When it happens somewhere around 10-15,000 great employees will lose their jobs.

The truth of the matter is only 1/3 of all the stores, maybe less are making money. When the company goes into bankrupcy we can expect at least 1,000+ stores to close.

The business of renting videos has changed, as has the customer. Most customers coming into the stores are 30 years plus. The younger renters have moved outof the stores to delivery systems and programs we don't offer, or as well as our competitors. At the same time the pricing structure that is currently in the stores is so anti-competitive it's redicules. You can rent two movies at Blockbuster for the price of a month of service from Netflix, makes no sense.

When Jim Keyes came to BB he made a fundamental change in the revenue share program with the studios. In an effort to improve availability he gave up almost all PRP and increased the splits in the studios favor. By doing this the cost of goods shot thorugh the roof whil losing about 12% sales. His hope of increasing customers transactions never happened, it was implemented while Redbox and Netflix were hitting the maket.

In an act of pure genius while losing customers, BB implemented price increases. They have continued to shoot themselves in the foot every chance they had. Now they have hundreds of millions of dollars they owe the studios from revenue share, do they go bankrupt against them? If they do will the studios demand cash only? If so, there may be no way BB can operate...liquidation. The studios may also go 28 days on NR's.

Love'em or Hate'em, if Blockbuster gets through bankruptcy they will be the size of Family Video.
  #24  
Unread September 8th, 2010, 07:09 AM
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I'm praying for Chapter 7, this month. I want all of the DMs and above to have the terrible Christmas that they gave my family last year. Die, Blockbuster, DIE!!!
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  #25  
Unread September 8th, 2010, 08:56 AM
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Quote:
Originally Posted by itirnitii View Post
Anyone who thinks Chapter 7 is not on its way is really in complete denial.
I don't think so. I'm not in love with the company and I already have a contingency plan for if/when BB goes under, but I just don't see them closing everything down like that so soon. I could be wrong though, and I'm prepared for anything!

But my best guess is Chapter 11 this month, lots of store closings, about a 1/4 or a 1/3, over the course of the next year not all at once, and then continue closing down other stores in the years after that continuing to shrink the company. Then, about 3 to 5 years down the line, either completely go under and close everything in Chapter 7, or somehow rebound and survive with a much, much smaller amount of brick and mortar stores.
  #26  
Unread September 8th, 2010, 12:03 PM
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September 30, 2010. Stock will keep about 7 cents from penny traders. Blockbuster will not make next payment, and corporate will go chapter 11. Blockbuster will be gone within 2-3 years due to company still trying to survive by selling total access, pickles, and candy bundles, and wondering why stores can't be profitable renting out 10 copies of iron man 2. Jim keyes gets another bonus when we go bankrupt, and bigger one when it closes completely.
  #27  
Unread September 8th, 2010, 02:56 PM
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Quote:
Originally Posted by Big Dog View Post
September 30, 2010. Stock will keep about 7 cents from penny traders. Blockbuster will not make next payment, and corporate will go chapter 11. Blockbuster will be gone within 2-3 years due to company still trying to survive by selling total access, pickles, and candy bundles, and wondering why stores can't be profitable renting out 10 copies of iron man 2. Jim keyes gets another bonus when we go bankrupt, and bigger one when it closes completely.
He has been burying gold in his backyard since day one!
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  #28  
Unread September 8th, 2010, 04:09 PM
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Quote:
Originally Posted by Hot Head View Post
He has been burying gold in his backyard since day one!
Jim keyes has no gold to bury, his office is smaller than mine.
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  #29  
Unread September 8th, 2010, 04:15 PM
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Quote:
Originally Posted by djsdojo View Post
You forgot about "indie stores" that are scattered everywhere though out the entire world. There are places such as Cinema Revolution in Minneapolis, Seattle's Scarecrow Video, Portland's Movie Madness, 9th Street Video in Columbia, Mo, Alley Video in New York City, 5 Star Video Rental in Dallas, Superstar Video in Arizona, the list goes on and on.......................
There is only one indie store in my area that does well at all. I imagine a few more may open up after BBV closes up shop, but we also have a few Family Video stores around here too so there's room for expansion from them as well.

I'd probably go apply for a job at one of those places if they opened up a new store.
  #30  
Unread September 8th, 2010, 04:20 PM
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Quote:
Originally Posted by Paradigm View Post
Jim keyes has no gold to bury, his office is smaller than mine.
This is the illusion he wants to set.
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