[brassplayersrock²]

FYI....

The following companies just filed for Bankruptcy:

Hollywood Video
Levitz
Sharper Image
Performance Team Freight
Linens n Things
Circuit City

If you have gift cards from the above list use them ASAP, they will not be valid for much longer.

[Jawbone54]

Hollywood went bankrupt? Holy cow...that's my store.

I guess I'd finally better hop onto Netflix.

[- - e r i k - -]

Sharper Image? Noooooooo....

[torsoboy]

Originally Posted by brassplayersrock² 

FYI....

The following companies just filed for Bankruptcy:

Hollywood Video
Levitz
Sharper Image
Performance Team Freight
Linens n Things
Circuit City

If you have gift cards from the above list use them ASAP, they will not be valid for much longer.

link(s)?

I just did a google for hollywood video filing for bankruptcy and I can't find anything recent about it.

[peeb]

Originally Posted by - - e r i k - - 

Sharper Image? Noooooooo....

Fair Game: Sharper Image eulogy

[PB2K]

Damn, I misunderstood the title for postcard companies that went bankrupt. I hate Hallmark

[Chuckit]

Hollywood Video? Good riddance. I kept Austin Powers a week late and the fruitcakes wanted to charge me $100.

[peeb]

They should charge you $100 to teach you a lesson for renting Austin Powers.

[- - e r i k - -]

Originally Posted by peeb 

Fair Game: Sharper Image eulogy

Funniest thing since Engineers Guide to Cats. Thank you.

[residentEvil]

weird, circuit city just moved/expanded into a new marquee corner spot across street from best buy here. i bet that will piss off the plaza landlord. spend all that money to build a flagship corner spot, and the tenant goes belly up.

[MacosNerd]

If you used this link as your source then I suggest you look for a more accurate news outlet.

Levitz - filed for bankruptcy in 12/27/07
Linens n Things - has not filed
Circuit City - has not filed

[Eug]

Sharper Image. I hope they go under quickly. I always considered them an overpriced gadget store, that often didn't actually carry anything interesting.

BTW, Sharper Image isn't accepting gift cards anyway.

Bankruptcy makes gift cards worthless -- Newsday.com

As for Linen & Things, I wonder what they'll do with their Canadian division, since the Canadian arm is actually very profitable.

EDIT:

It seems that Sharper Image is accepting gift cards again, with some restrictions:

The Sharper Image - Gift Certificates & Gift Cards

[Dakar the Fourth]

Originally Posted by PB2K 

Damn, I misunderstood the title for postcard companies that went bankrupt. I hate Hallmark

I hear that. I was gonna come in here and start high-fiving people about it.

As for the sharper image, I wouldn't have been surprised if this happened 10 years ago.

[MacosNerd]

Originally Posted by Eug 

Sharper Image. I hope they go under quickly. I always considered them an overpriced gadget store, that often didn't actually carry anything interesting.

I agree whole heartedly. I found that the products they sold could be had on the net or somewhere else a lot cheaper then what they were selling them for. I think their claim to fame the past few years was that ionic air cleaner. Even that was over priced but it was quite a fad for a while.

To be sure the current economic downturn and increased inflation is going to hit retailers hard. With gas projected to be at 4 dollars a gallon here in the US, (its floating around 3.5 now where I live) I like many other people are curtailing our shopping sprees and cutting back the times we go to a restaurant.

[Eug]

Originally Posted by MacosNerd 

To be sure the current economic downturn and increased inflation is going to hit retailers hard. With gas projected to be at 4 dollars a gallon here in the US, (its floating around 3.5 now where I live) I like many other people are curtailing our shopping sprees and cutting back the times we go to a restaurant.

I saw gasoline listed briefly for $4.01 per gallon for regular unleaded when I was Miami last week (although a few days later I saw it for about 10% less at some places).

Mind you, up here in Toronto, it's $4.63 per US gallon.

[MacosNerd]

I know, in other countries it can and is higher.

The specific issue with the US (I have no idea about other countries) is that it has been steadily going up, so instead of having a stable gas price, more and more of my discretionary income has to go towards filling up my tank and now buying more expensive food. That means less in my pocket for other things, so going back to the original thesis, the US economy is having problems in part because of this.

[Eug]

Originally Posted by MacosNerd 

I know, in other countries it can and is higher.

The specific issue with the US (I have no idea about other countries) is that it has been steadily going up, so instead of having a stable gas price, more and more of my discretionary income has to go towards filling up my tank and now buying more expensive food. That means less in my pocket for other things, so going back to the original thesis, the US economy is having problems in part because of this.

It has been steadily going up in most places, not just the US.

[PB2K]

a gallon of gas is 10 US$ in the Netherlands

BUT I DON'T MIND !!!! THEY BUILD RUNDABOUTS AND SPEEDBUMPS, THEY PAY THE UNEMPLOYED !!!

[ort888]

Circuit City? Really? That would unfortunate.

[torsoboy]

Originally Posted by ort888 

Circuit City? Really? That would unfortunate.

It seems the OP hasn't come back to post a link confirming anything. I can't find anything about CC filing for bankruptcy this week. They are up 11.67% on their stocks this year... that doesn't seem normal for a bankrupt company to me.

[olePigeon]

Good thing I live in California. If the company files for Chapter 11, they have to honor cards and certificates when reconciling debt. If they file for Chapter 7, gift cards and certificate holders are considered priority creditors.

[olePigeon]

Originally Posted by PB2K 

a gallon of gas is 10 US$ in the Netherlands

BUT I DON'T MIND !!!! THEY BUILD RUNDABOUTS AND SPEEDBUMPS, THEY PAY THE UNEMPLOYED !!!

Don't you guys also have refined diesel engine vehicles that get 40 to 60 mpg?

[Chuckit]

Originally Posted by PB2K 

a gallon of gas is 10 US$ in the Netherlands

BUT I DON'T MIND !!!! THEY BUILD RUNDABOUTS AND SPEEDBUMPS, THEY PAY THE UNEMPLOYED !!!

My impression from having a friend who lived there is that it's far more practical to avoid using your car there than it is here. Am I mistaken?

[ort888]

I just read that every year $8 Billion dollars worth of gift cards are purchased and not used. Or rather, that there is currently an $8 billion dollar gift card deficit. Breaks down to something like $26 per American citizen.

Crazy.

I think that most stores make out like bandits with these cards. from people forgetting to use them, or waiting to use them (a free loan) or going to a store they wouldn't have otherwise gone to, and maybe spending more... I think it's a huge win/win for these places.

[Railroader]

I can't stand gift cards. I try to get rid of them within days of getting them. I'll often just buy daily essential stuff with them so I don't get caught up in the buying of something that costs much more than the card's value is.

I came by this stance when buying a Sears gift card for a family member and read on the literature (while waiting for my wife as she was shopping) that they had to be spent within a couple years or you lose the value.

It seems all kinds of gas stations and other grocery stores are carrying gift cards for all kids of things lately. Gift cards are just another scam.

Give money people!

[ghporter]

Originally Posted by Railroader 

I can't stand gift cards. I try to get rid of them within days of getting them. I'll often just buy daily essential stuff with them so I don't get caught up in the buying of something that costs much more than the card's value is.

I came by this stance when buying a Sears gift card for a family member and read on the literature (while waiting for my wife as she was shopping) that they had to be spent within a couple years or you lose the value.

It seems all kinds of gas stations and other grocery stores are carrying gift cards for all kids of things lately. Gift cards are just another scam.

Give money people!

A lot of gift cards can indeed be such a scam. Others, aren't. Borders gift cards don't lose value-I found this out after finding a year old card from LAST year's birthday card and checking into it. This was very handy, by the way.

However, there are a number of ways you can give a purchasing card that is more flexible than a store-brand gift card. American Express and Visa (and probably Master Card) sponsor prepaid gift cards that are accepted anywhere their credit cards are. Much better than assuming Dad goes to Borders when in fact there aren't any in his county and he'd prefer Barnes & Noble. (My dad is just the opposite; there are plenty of Borders around where he lives, but no Barnes & Noble stores. This is kind of odd since he lives no more than half an hour from Ann Arbor, where Barnes & Noble started...)

[- - e r i k - -]

The scam is not so much that they lose value. It's that customers inevitably buy something for more than it's value. Or buy less and don't spend the full amount. Either way the store has got money before they have even handed out any goods. Win win for them any way.

[Art Vandelay]

Circuit City isn't bankrupt, it is the subject of a hostile takeover by Blockbuster.

[Eug]

Originally Posted by Railroader 

I came by this stance when buying a Sears gift card for a family member and read on the literature (while waiting for my wife as she was shopping) that they had to be spent within a couple years or you lose the value.

That is now illegal where I live. The value of the gift card is good for life... unless the store goes under.

[turtle777]

Originally Posted by - - e r i k - - 

The scam is not so much that they lose value. It's that customers inevitably buy something for more than it's value. Or buy less and don't spend the full amount. Either way the store has got money before they have even handed out any goods.

And WHY exactly is that a scam ?

-t

[Railroader]

Originally Posted by turtle777 

And WHY exactly is that a scam ?

-t

OK, "scam" is a harsh probably incorrect word, but it is quite devious in it's marketing.

[- - e r i k - -]

Oh, not a scam at all. I think it's a brilliant devilishly clever business tactic. To the point where it is seen as a service to the consumer even.

[Railroader]

Originally Posted by - - e r i k - - 

Oh, not a scam at all. I think it's a brilliant devilishly clever business tactic. To the point where it is seen as a service to the consumer even.

I am sure they only do it for the customer's benefit. That's why they print them with such pretty pictures now. My kids even got some from Target that lit up and played songs.

[TheWOAT]

Also in California, gift cards can be "cashed out" if they have less than $10 left on them... at least that is what the law says.

[Dork.]

FYI, from the Consumerist: Pr: Circuit City Denies Its In-Home TV Calibration Is A Total Scam :

Additionally, on an unrelated note, an e-mail appears to be circulating that claims Circuit City and other stores have filed for bankruptcy. If you receive this e-mail, please know that the information is completely false, as far as Circuit City is concerned.

Consumerist's reaction:

Oh, and we're glad to hear that Circuit City isn't filing for bankruptcy, as that would totally throw our "who is Circuit City a takeover target for" betting pool totally out of whack.

[ort888]

Yeah, I get 4 years of free "professional" calibration from Best Buy. It turns out that "professional" means that a guy comes out and fiddles with the same picture settings I have access too.

I sat in shock as a middle aged gentlemen adjusted my contrast settings asking me what looked better.

I actually called them to set up an appointment for this.

Money well spent.

Well, it came with the product replacement plan... but I was expecting them to actually do something... like go into the service mode and check the picture against swatches and stuff... you know, professional calibration.

[Big Mac]

Gift cards are a dumb gift choice. As Dilbert once said, you're just exchanging money for a less usable form of money.

[ort888]

I don't mind gift cards as long as they are to a place I like to go to. When I get money as a gift, I just deposit it into my checking account and I never think about it again. It may as well have never existed. When I get a gift card I actually think about it as a gift more. I don't know why, it's hard to explain.

[Dakar the Fourth]

Originally Posted by Big Mac 

Gift cards are a dumb gift choice. As Dilbert once said, you're just exchanging money for a less usable form of money.

That's entirely true, however, gift cards dodge the stigma that a cash gift seems to have.

[ort888]

http://myweb.lmu.edu/joffenberg/OffenbergJEP_2007.pdf

Download this PDF. I found it to be a pretty interesting read on gift cards.

[Big Mac]

Originally Posted by ort888 

http://myweb.lmu.edu/joffenberg/OffenbergJEP_2007.pdf

Download this PDF. I found it to be a pretty interesting read on gift cards.

You're right, quite interesting. Thank you.

[andi*pandi]

I hate companies that don't give you the 2.36 that's left on a card. You basically either have to overspend the card or make them a gift of the remaining balance. I have a macy's card with $3 left on it, that I carry around, but never go to Macy's and what the hell could I buy there for $3 anyway.

[Big Mac]

Btw, the author of that academic article on gift cards is pretty hot for a prof:

Jennifer Pate, Ph.D.

[Buckaroo]

Originally Posted by Big Mac 

Btw, the author of that academic article on gift cards is pretty hot for a prof:

Jennifer Pate, Ph.D.

Wow, I'm currently attending LMU for my MSE.

There are a lot of cute girls at this University. I wish I was 20 years younger.

[Chuckit]

Huh? Chicks dig older guys. (Or at least most of the ones I know do.)

[Dakar the Fourth]

Originally Posted by Chuckit 

Huh? Chicks dig older guys. (Or at least most of the ones I know do.)

I need to come to San Diego. Chicks who like racing games and older guys. All I need to hear is skinny italians added in for me to buy the plane ticket.

[- - e r i k - -]

Originally Posted by Chuckit 

Huh? Chicks dig older guys. (Or at least most of the ones I know do.)

Cue the Dazed and Confused quote in 5…4…3…

[TheWOAT]

Originally Posted by andi*pandi 

I hate companies that don't give you the 2.36 that's left on a card. You basically either have to overspend the card or make them a gift of the remaining balance. I have a macy's card with $3 left on it, that I carry around, but never go to Macy's and what the hell could I buy there for $3 anyway.

In California, with few exceptions, those companies are REQUIRED to give you the cash when a gift card has less than 10 dollars on it. If you are in California, and Macys doesnt give you your money back, let me know because there are quite a few folks who would be very interested in violations of State code.

[Art Vandelay]

Interesting that Linens 'n Things was on the list from 4/28 when it just declared bankruptcy yesterday, 5/2.

[Dork.]

Originally Posted by Art Vandelay 

Interesting that Linens 'n Things was on the list from 4/28 when it just declared bankruptcy yesterday, 5/2.

It had been rumored for quite a while.