Wisconsin losing yet another Kmart. The store will shutdown by the end of June, rendering 103 people unemployed. Alderman Craig Wilson actually called it a “good sign” of economic development.
In Michigan, reports say the abandoned Roseville Kmart is being torn down, and will be replaced with a $15.6-million USD Kroger grocery store. The city gave […] Continue Reading…
Incomplete list of publicly announced layoffs & shutdowns:
What real estate recovery? Internet based commercial office space seller 42Floors laid off at least 14 people in the cities of New York and San Francisco. The company halted its commercial real estate brokerage ops and will focus on providing internet searches and listings only: “Over the past few […] Continue Reading…
14 April 2015 (18:42 UTC-07 Tango 01, 13 April 2015)/24 Farvardin 1394/23 Jumada t-Tania 1436/26 Geng Chen 4713
So far no written shutdown notice has been issued for east Idaho’s Gateway Postal Processing Center, only verbal warnings that it will take place on 18 April 2015. There are consistent reports from the contracted truck drivers, […] Continue Reading…
I’ve written about this in the past, and it’s happened again, Eddie Lampert’s Sears Holdings is yet again making money, specifically because they’ve killed thousands of jobs!
Lampert revealed that he is transferring ten Sears stores to mall operator Simon Properties, and Sears Holdings will make $114-million USD as a result of the deal worth $228-million!
Investors […] Continue Reading…
11 April 2015 (16:42 UTC-07 Tango 01)/22 Farvardin 1394/21 Jumada t-Tania 1436/23 Geng Chen 4713
In the past week employees at the doomed Gateway Processing Center in Pocatello, Idaho, were given news confirming the pending shutdown.
As of 17 April 2015 all remaining Mail Handlers will become unemployed, with no severance (told to apply for unemployment). […] Continue Reading…
09 April 2015 (15:07 UTC-07 Tango 01)/20 Farvardin 1394/19 Jumada t-Tania 1436/21 Geng Chen 4713
“These American markets are ready for more consolidation…..We will be at the forefront of consolidation…..we should every year review all the stores and if every year we have to close ten stores…do it.”-Stefano Pessina, acting CEO of Walgreens Boots Alliance
Administrators of the […] Continue Reading…
The retail exodus continues in New York as Sears Holdings announces that their 35 years old Sangertown Square Sears & Auto Center, in New Hartford, will shutdown in July. Local news reports indicate the mall management knew for some time the store was going to close.
In Pennsylvania, Sears Holdings announced they will shutdown their Mount Pocono […] Continue Reading…
“Ultimately, the liquidity provided by the REIT capital raise cannot address the underlying poor performance of its retail business, and our credit analysts believe that Sears will need to close hundreds of additional stores.”-JPMorgan Chase
“If its goal is to survive as a retailer, Sears will need to get better at selling the stuff on […] Continue Reading…
06 April 2015 (13:52 UTC-07 Tango 01)/17 Farvardin 1394/16 Jumada t-Tania 1436/18 Geng Chen 4713
Some east Idaho Post Offices have posted collection time changes (“Due to operational changes…”) for parcels and letters dropped off at their location. The new collection times are 30 minutes earlier than normal and go into effect on 18 April […] Continue Reading…
Incomplete list of publicly announced layoffs & shutdowns:
Bermuda based on-shore oil rig company Nabors Industries revealed they’ve killed off at least 35-hundred jobs in the United States! While administrators told news media it was because of oil prices, CEO Anthony Petrello admitted to investors that the true reason is “They are shedding rigs based […] Continue Reading…