Financial Turmoil Abound

[made in china]

Bed Bath & Bankruptcy

Bed Bath & Beyond shares plummet after company warns of potential bankruptcy

The embattled home goods retailer said it is exploring financial options, including filing for bankruptcy.

www.cnbc.com

Doesn't surprise me, that place has been a frustrating mess for over a decade now, wondered what took so long.....

 

[Alexx1401]

Doesn't surprise me, that place has been a frustrating mess for over a decade now, wondered what took so long.....

I too have long wondered how they stayed in business. In this state its even more shocking. Min wage here is now almost $16 an hour. Seattle said hold my beer and made it higher. This on top of the constant looking for more taxes should end up shuttering more stuff here. It will be good for automation though. Should not be long till we see a lot of fast food that is all done by machines. With one or two people there to keep them running. With that and the way people can walk into stores and just steal anything they want? Amazing that so many stores are still here at all.

 

[Mikej]

I too have long wondered how they stayed in business. In this state its even more shocking. Min wage here is now almost $16 an hour. Seattle said hold my beer and made it higher. This on top of the constant looking for more taxes should end up shuttering more stuff here. It will be good for automation though. Should not be long till we see a lot of fast food that is all done by machines. With one or two people there to keep them running. With that and the way people can walk into stores and just steal anything they want? Amazing that so many stores are still here at all.

You can get anything you want from Amazon. In couple of DAYS! I really don't mind driving to get what I need/want. I like driving and shopping! I want stores to stay in business! But G-dammit, again today. I need rat bait. Home depot has what I might want but there's no pic on the label. I can't be sure it's what I need. Yep, back home, 1 minute on the PC, it'll be here Saturday. I did almost ALL of my Christmas shopping on amazon. I tried going to stores. Lousy inventory and no one to ask/talk to.

 

[Alexx1401]

You can get anything you want from Amazon. In couple of DAYS! I really don't mind driving to get what I need/want. I like driving and shopping! I want stores to stay in business! But G-dammit, again today. I need rat bait. Home depot has what I might want but there's no pic on the label. I can't be sure it's what I need. Yep, back home, 1 minute on the PC, it'll be here Saturday. I did almost ALL of my Christmas shopping on amazon. I tried going to stores. Lousy inventory and no one to ask/talk to.

I have bought a couple "big items" from Jeff lately due to the thieving scum. So much stuff now is locked up due to scum stealing. Couple times I was at the store and wanted to buy. Of course could find no one to unlock it so I could buy it. Looking at my phone while trying to get it Amazon of course had it. Price was higher but they could get it to me in a day or two. Couple times I gave up and ordered it off my phone and walked out of the store. Jeff has got to love the law makers here turning the scum loose to loot stores. I can't be the only one who rather than try to get help to unlock stuff will just order it.

 

[made in china]

Re demise of brick and mortar stores and incoming automation....

Lately I've been having huge troubles with online ordering. Many places, including Amazon, have seriously let customer service and shipping times slip. Many have replaced customer service with AI chatbots that just lead you in maddening circles.

Amazon has different rules for customer service depending on who sold the product. I have been cheated twice on Amazon in 3 months and Amazon told me they couldn't help. And even if you have Prime, the shipping times are poor.

Recently bought car parts from Rock Auto (highly recommend by many people) to replace the catalytic converters (4) and entire exhaust on my truck. $2300 in parts, one of the exhaust flanges is 0.010" out of spec causing the joint to not connect, and I tried to contact Rock Auto and they only have a bot to determine if you can return something. Of course, due to mass production, it's likely all of the parts are also out of spec. So, I try and contact the manufacturer and they also have no customer service, or tech support, at all. Not even a BOT....

 

[Alexx1401]

Re demise of brick and mortar stores and incoming automation....

Lately I've been having huge troubles with online ordering. Many places, including Amazon, have seriously let customer service and shipping times slip. Many have replaced customer service with AI chatbots that just lead you in maddening circles.

Amazon has different rules for customer service depending on who sold the product. I have been cheated twice on Amazon in 3 months and Amazon told me they couldn't help.

How did you pay? Amazon tried this on me one time and one time only. Problem with order, seller ignored me. Amazon said they could not help. So I went through the bank. They had no problem helping and just took the money back. Now Amazon sends me an e-mail saying "did we do something to make you angry?". They fixed it and its never happened again. Now shipping got a little wonky until Christmas but that has been happening as long as I have been online shopping. They just get overwhelmed. Probably depends on where you live now too. Amazon has a couple fulfillment places here and a shipping hub very close to us. So a lot of stuff is next day now. The times it becomes a problem is when they send stuff USPS. Then it often takes a couple days. Almost all our stuff now comes direct in one of their trucks. Even the Generator I bought was delivered by them. They have some box trucks with lift gates that are two man operations for large stuff here now. I am sure as you get further from the city they probably are still using a lot of common carrier shipping.
The best part now is returns. Any more I just tell them and they send a QR code to my phone. Take the item to a shipping place don't even have to box it up. Hand it to them and they scan my phone. Before I can get back in my car I get a text that I got a refund.

 

[made in china]

How did you pay? Amazon tried this on me one time and one time only. Problem with order, seller ignored me. Amazon said they could not help. So I went through the bank. They had no problem helping and just took the money back. Now Amazon sends me an e-mail saying "did we do something to make you angry?". They fixed it and its never happened again. Now shipping got a little wonky until Christmas but that has been happening as long as I have been online shopping. They just get overwhelmed. Probably depends on where you live now too. Amazon has a couple fulfillment places here and a shipping hub very close to us. So a lot of stuff is next day now. The times it becomes a problem is when they send stuff USPS. Then it often takes a couple days. Almost all our stuff now comes direct in one of their trucks. Even the Generator I bought was delivered by them. They have some box trucks with lift gates that are two man operations for large stuff here now. I am sure as you get further from the city they probably are still using a lot of common carrier shipping.
The best part now is returns. Any more I just tell them and they send a QR code to my phone. Take the item to a shipping place don't even have to box it up. Hand it to them and they scan my phone. Before I can get back in my car I get a text that I got a refund.

Amazon used to have excellent CS.
Now, they have different rules for if an item is "sold by Amazon" or sold by 3rd party on Amazon. It used to make no difference.
Another issue I have with them, we haven't had Prime in 8 years. So, they intentionally delay sending out our orders. I rarely use them and try to use brick and mortar now.

The 2 items I was cheated on, by 3rd party, was a set of headlight bulbs for my truck (you know, the $130 kind!), which the seller drug their feet on, then eventually sent me a return label with "place postage here" dude are you kidding me? I have to pay postage? No, Amazon would not accept it at the local drop off, which is our Kohl's. They said "not sold by Amazon" uh huh...I bought it on Amazon
The other item was my shoes. I always by the same model of shoes. Been doing that for years because they have been excellent, probably been buying the same shoes for 12 years now...8 years probably from Amazon (the store in the mall closed). This pair I received, 3rd party, the soles weren't glued on. The seller ignored me, and Amazon said "sorry, we can't help".

BTW I cancelled my Prime because we used to use Prime video and music too....but they began putting a disgustingly obvious transgender on the Prime home screen, and my 7 y/o son inquired what was that person....really didn't want to have to explain that to my kid, eff you Amazon!

 

[arakboss]

Stitch Fix to cut 20% of salaried jobs, CEO stepping down

Stitch Fix is working to create a "more nimble organization" as it seeks to become more viable during the economic downturn. As part of this transition, its CEO is stepping down.

www.foxbusiness.com

 

[bolus]

You can get anything you want from Amazon. In couple of DAYS! I really don't mind driving to get what I need/want. I like driving and shopping! I want stores to stay in business! But G-dammit, again today. I need rat bait. Home depot has what I might want but there's no pic on the label. I can't be sure it's what I need. Yep, back home, 1 minute on the PC, it'll be here Saturday. I did almost ALL of my Christmas shopping on amazon. I tried going to stores. Lousy inventory and no one to ask/talk to.

Reposting the theory on why Amazon is so big:

1. Identify a target (The Leader- Bezos, The target competition - sears, toysRus, Circuit City, JC Penny, Bed bath and beyond, etc)
2. Install or acquire inside man on the board of the company, maybe CEO/CFO (The insiders - Boston Consulting Group)
3. Spread rumors about the target though the media (The Liars - Who owns Washington Post? Bezos)
4. Create a class action lawsuit against the company
5. Fire up the printers and flood the market with fake shares of the company driving share price through the floor. (The Dealer - Market makers like Citadel can make infinite liquidity, legally)
6. Company either declares bankruptcy or is delisted from exchange
7. Perform a leveraged buyout of the company, busts it out, acquires other competition to capture and kill, then when the company is so saddled with debt it can no longer stand, kill the company and let the wolves feed off the carcass. (The Butcher - Bain Capital with gold ol' Mitt Romney who used to work where? Boston Consulting Group)

Side note. How does Boston consulting group get paid to help destroy these companies for Amazon? We pay them of course:

USAspending.gov

www.usaspending.gov

USAspending.gov

www.usaspending.gov

Guess who is on the committees who hands out 93% of these government contracts to BCG? Mitt Romney.

 

[Alexx1401]

Amazon used to have excellent CS.
Now, they have different rules for if an item is "sold by Amazon" or sold by 3rd party on Amazon. It used to make no difference.
Another issue I have with them, we haven't had Prime in 8 years. So, they intentionally delay sending out our orders. I rarely use them and try to use brick and mortar now.

The 2 items I was cheated on, by 3rd party, was a set of headlight bulbs for my truck (you know, the $130 kind!), which the seller drug their feet on, then eventually sent me a return label with "place postage here" dude are you kidding me? I have to pay postage? No, Amazon would not accept it at the local drop off, which is our Kohl's. They said "not sold by Amazon" uh huh...I bought it on Amazon
The other item was my shoes. I always by the same model of shoes. Been doing that for years because they have been excellent, probably been buying the same shoes for 12 years now...8 years probably from Amazon (the store in the mall closed). This pair I received, 3rd party, the soles weren't glued on. The seller ignored me, and Amazon said "sorry, we can't help".

The time I had to do a charge back that was the "excuse" they used. That it was a 3d party. My bank did not care what their excuse was, they just took the money back from Amazon. If you pay the right way they can't burn you. This is not just Amazon, this works with anything you buy in the US. We have some really great protections from the plastic. Its why I often shake my head in wonder when people insist on using some other form of payment. While back a large furniture and appliance store here suddenly went under. One morning people who shopped and worked there came to work to find the doors locked, sign in window saying they were bankrupt. A lot of people had paid for stuff that was in the store and they could not get it. Those who paid the smart way just got their money back promptly. Everyone else? They got to fill out forms and wait for the liquidation and see if they would get anything back. Its why I will not pay for ANYTHING at a store with anything other than plastic unless I am taking the item right then. No way in hell would I write a check or pay cash for something I was picking up days later.

 

[arakboss]

Coinbase to slash 20% of workforce in second major round of job cuts

CEO Brian Armstrong pointed to more pressure on the crypto sector thanks to "unscrupulous actors in the industry."

www.cnbc.com

 

[arakboss]

https://www.cnn.com/2023/01/13/politics/debt-limit-janet-yellen-letter-to-kevin-mccarthy/index.html

 

[Provincial]

Dear Janet:


Live with it.

 

[Alexx1401]

Just keep printing more money to give away then pretend they do not understand why things go bad.

 

[arakboss]

Microsoft to cut thousands of jobs across divisions - reports

Microsoft Corp plans to cut thousands of jobs with some roles expected to be eliminated in human resources and engineering divisions, according to media reports on Tuesday.

www.reuters.com

 

[Alexx1401]

Yet another "you get what you vote for", Wife was telling me the Nike store in Seattle has told them they are folding up their tent and leaving due to the scum stealing so much stuff. Just keep voting for more of this Seattle and enjoy chasing off more business.

 

[arakboss]

Party like it's 2008.

America’s largest party supply store files for bankruptcy | CNN Business

Party City filed for bankruptcy protection Tuesday, weighed down by competition and years of financial losses.

amp.cnn.com

 

[arakboss]

Google employees scramble for answers after layoffs hit long-tenured and recently promoted employees

Employees have rallied to find out who's been laid off while demanding answers from leadership.

www.cnbc.com

Spotify cuts 6% of its workforce — read the memo CEO Daniel Ek sent to staff

Spotify announced it is cutting 6% of its global workforce, as the music streaming giant contends with a gloomy economic environment.

www.cnbc.com

 

[Heyjoe]

Google employees scramble for answers after layoffs hit long-tenured and recently promoted employees

Employees have rallied to find out who's been laid off while demanding answers from leadership.

www.cnbc.com

Spotify cuts 6% of its workforce — read the memo CEO Daniel Ek sent to staff

Spotify announced it is cutting 6% of its global workforce, as the music streaming giant contends with a gloomy economic environment.

www.cnbc.com

"Learn to operate" is the new "learn to code"

 

[arakboss]

"Learn to operate" is the new "learn to code"

Maybe, learn to operate a spatula.