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  #1  
Unread April 14th, 2009, 02:11 PM
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Blockbuster Shows New Cracks...

For those still standing behind this company pulling through...you might want to take a look at this article:

http://www.showbizdata.com/news/4925...OWS-NEW-CRACKS

In short, this is what it states:

"Blockbuster continued the fight of its life Monday, even as stocks in the company slid once again following a report by company auditors PricewaterhouseCoopers expressing substantial doubt that the video-rental outfit will be able to continue to fund its operations. Meanwhile Standard & Poors lowered Blockbuster's debt rating to "CCC" from "B-." The new rating suggests that the company is "vulnerable to nonpayment" of its obligations. "

...and the ship keeps sinking. S&PI is one of the key economic indicators, and when they label the company as gone, then so be it!

FYI - BBI stock today was at .79
  #2  
Unread April 14th, 2009, 02:41 PM
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Why is the news picking on blockbuster? tons of companies are failing right now so why so much attention on us? i'm so sick of hearing customers comments. I'm not going to mock another persons company, they depend on that paycheck and i'm gonna hope the best for them no matter waht company it may be. the idea of losing your job is not a welcome idea and all this negativity doesn't help.
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  #3  
Unread April 14th, 2009, 03:34 PM
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Smile

Trinity...I agree...but my district is totally corrupt. I am getting ready to enter a major discrimination case against the company...so I was already canned. Unfortunately, I have been on your side before, but once all the smoke and mirrors clear, I have simply lost all sympathy for the company, or at least the leaders of the my district.

The funny thing is Keyes, who is aware of this discrimination case, is actually coming to visit the district on April 28th, or so I heard from witnesses in my case, who are still employed with BB.

If jobs are eventually lost due to store closings, I sympathize completely. However, BB has a problem with making their managers and employees feel as though they can't do anything else and they are barely worth a job at BB. I hate to tell you, but I have yet to encounter anyone that doesn't deserve more than BB offers.

So, keep your chin up! It will all work out in the end! I have two kids, one on the way, and a wife on bed rest counting down the ninth month. A house payment, two car payments, and a lot of stress....BUT I feel much better about being out from BB's clutches cause now I know there is so much better out there!!

Last edited by JohnMcClane; April 14th, 2009 at 10:12 PM.
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  #4  
Unread April 14th, 2009, 09:36 PM
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I agree, we don't really need the negative news, but we need some sort of news instead of the CUT saying that the company is closing in a month.

Good luck on your case JM. My significant other is unemployed and if I lose my job...I think that will be the end for now.

All I can hope is that the company cuts a few stores that are slacking and the company stays open until most of us can find different jobs to suffice what we are losing.
  #5  
Unread April 14th, 2009, 10:44 PM
Angry Angry is offline
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Yeah it sucks. I'm out of a job in a couple weeks due to my store finally closing. The worst part of the whole process is the customers who come in during liquidation. I had one guy come in and said that me and another co-worker should get over the fact that we're losing our jobs, and we should be more concerned over the fact he has to drive an extra 10 minutes to the nearest blockbuster

I've been with the company for almost 8 years now, so maybe it's time for a change, and to utilize my degree...
  #6  
Unread April 14th, 2009, 11:03 PM
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Quote:
Originally Posted by Angry View Post
he has to drive an extra 10 minutes to the nearest blockbuster

For what its worth, he probably has been returning his movies to that other store anyway.
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  #7  
Unread April 14th, 2009, 11:25 PM
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sorry your store is closing. i've been working at several different stores trying to rack up as much hours as i can recently. a few of them were closing and it was shocking because some of them were actually very nice stores. it was just a matter of the lease running out and not getting any other real sign of why they were closing.

i did some asking around and figured out my store's lease ends in 2012. i think it's safe to assume that i will have another job by then, but it sucks to think i won't be able to rent movies at a nearby blockbuster =( so yeah, i do sympathize with customers who go through the same predicament. they throw their money at the store they go to, deal with the stupid changes the company throws their way and yet, the company is fucked into closing because of the stupid competitive forays that the company goes through with such as Total Access.

Last edited by BUYMECAR; April 14th, 2009 at 11:34 PM.
  #8  
Unread April 15th, 2009, 09:37 AM
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Quote:
Originally Posted by BUYMECAR View Post
sorry your store is closing. i've been working at several different stores trying to rack up as much hours as i can recently. a few of them were closing and it was shocking because some of them were actually very nice stores. it was just a matter of the lease running out and not getting any other real sign of why they were closing.

i did some asking around and figured out my store's lease ends in 2012. i think it's safe to assume that i will have another job by then, but it sucks to think i won't be able to rent movies at a nearby blockbuster =( so yeah, i do sympathize with customers who go through the same predicament. they throw their money at the store they go to, deal with the stupid changes the company throws their way and yet, the company is fucked into closing because of the stupid competitive forays that the company goes through with such as Total Access.

See this is what pisses me off about other store managers. (not ones that post here...) They don't explain things to their staff's. There are a multitude of reasons why stores close. but it all comes down to Financials. Just because a store looks nice, or is in a nice neighborhood, doesnt mean its profitable. And just because the store is busy doesn't mean its profitable.

Running a store is exactly like balancing a checkbook. Sure, stores make money. But we also have to pay out money. Like cost of goods, payroll, rent, taxes, BAD DEBT, SHRINK. (credits too, but i am leaving that out, because i still to this day think its stupid that they hurt us) the mismanagement of controllables is what screws a store the most. (labor, bad debt, shrink etc)

So sure, you could be bringing in 10-15K a week. But how much of that are you losing out the back door? Some of the store closings are lease related. but they wouldn't close a store that actually makes a good amount of money after ebitda, just because their lease is up.

i don't know if that helps anyone at all, but figured i'd explain the best i could anyway.
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  #9  
Unread April 15th, 2009, 09:48 AM
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I've said this before and I'll say it again. Working retail you are in the BEST position to find another job. You come in contact with hundreds if not thousands of customers a week. Use this to your advantage. Start talking to the ones that you have a good relationship with. If you're a hard worker they someone will recognize that and will eventually have an opening.

Case in point. My wife was working at a burrito shop. One of the regular customers got to know her and hired her as his assistant for his patent agency. In just over a year she's now making more than I am!

Do not wait until it's too late.
  #10  
Unread April 15th, 2009, 11:32 AM
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Quote:
Originally Posted by orbitdvd View Post
I've said this before and I'll say it again. Working retail you are in the BEST position to find another job. You come in contact with hundreds if not thousands of customers a week. Use this to your advantage. Start talking to the ones that you have a good relationship with. If you're a hard worker they someone will recognize that and will eventually have an opening.

Case in point. My wife was working at a burrito shop. One of the regular customers got to know her and hired her as his assistant for his patent agency. In just over a year she's now making more than I am!

Do not wait until it's too late.
Your wife was lucky, or she makes the world's best burrito. It's got to be pretty rare for one of the few people hiring right now to come into the store and be so blown away by the service they get at Blockbuster Video that they're just going to up and say "Hey buddy i like your work ethic, how about you ditch this place and come make a real salary at a secure job." Most of my regulars are just as worried for their jobs and a lot them are unemployed, unemployment is actually the method of payment for quite a few customers. Not saying that it can't happen, but honestly how many business recruiters go headhunting at their local video store?
 

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