Quote:
Originally Posted by discostu
The Sears and Kmarts of the country...most of those businesses had drastically cut staffing over the last decade to assist with the absolute financial bloodbath that they've been drowning in. Not to belittle those job losses, just noting that they weren't the employers that they were 20 years ago.
Much like 2008, there will be a slew of businesses blaming Covid-19 for closure, bankruptcy etc...but there's more to every story. Just like a person in hospice care dying of Covid-19, cash-strapped businesses that were overextended and poorly executed will appear to be victims of Covid-19.
I think one of the things that is clearly magnified is the fact that the economy wasn't really as "roaring" as the grossly inflated stock market seemed to indicate.
Regardless of response times, shutdown lengths, republicans or democrats, etc...we're not close to the bottom, not close. Covid-19 has exposed a lot already and will continue to do so.
Nobody wants to speed up death, but Covid-19 has done just that.
|
By default of your statement you are minimizing those jobs. I used Sears and Kmart as the extreme. But several what I call 'Mall headliner' stores are going to go belly up. These stores have mostly been managing small profits and staying afloat, due to ecommerce...as we all know.
That said they employ full staffs.
I see just sitting here thinking out loud the following companies struggling to stay open....
Neiman Marcus
JC Penny
Kohls
Abercrombie
Aeropostal
Ann Taylor
Banana Republic
Brooks Brothers
Express
Finish Line
H&M
Journeys
Lane Bryant
Lord and Taylor
Nordstrom Rack
Steve Madden
Wilson Leathers
And that is like tip of the iceberg off the top of my head, start adding these places together.....its trouble and even more depressing for declining malls.
Before we can move forward as a country I feel the following need to be accepted as truths.
Covid-19 is really bad for at risk people. We need to do a better job protecting them.
Covid-19 is really bad for the economy as is, if we push the current lockdown much further we are going to have a really bad situation, for a really long time. Stuff to the degree we can't speak too, because no one alive has experienced it.
Covid-19 has a very low casualty and severity rate among healthy people.
There are truths to this virus, and things we can work around to provide a safe life to those at risk, while keeping our economy whole.
Unfortunately we have too many people who are 'all or nothing' on both sides of the argument and most of them are card collectors or politicians.
