[newsimage]http://static.rankone.nl/images_posts/2010/03/H20Kms.jpg[/newsimage]For the second time in one year, Blockbuster has warned that it may have to file for Chapter 11 bankruptcy protection. Read the full article here: [http://www.myce.com/news/blockbuster-sounds-the-bankruptcy-alarm-again-27313/](http://www.myce.com/news/blockbuster-sounds-the-bankruptcy-alarm-again-27313/) Please note that the reactions from the complete site will be synched below.
If Blockbuster wants to survive, they better decrease the price of rentals by half in line what Family Video charges.
I don’t think they can save that sinking ship.
[QUOTE=Juris;2502525]If Blockbuster wants to survive, they better decrease the price of rentals by half in line what Family Video charges.[/QUOTE]
Well there’s the problem. They can’t. Blockbuster needs the revenue from those prices to keep surviving. But those prices are helping to send people elsewhere.
They need to take $1 off the rental and cut their store space by 50%. If they do this then I have every belief that they’ll survive. If not, it’s off to the unemployment line for their employees. I dislike Blockbuster, but I have NO DESIRE WHATSOEVER to see more people lose their jobs. I was out of work for 14 months. I’m working full time again, which is great for me, but it’s sad to know people are still suffering.
$5 movie rentals, staff barely paid, and who could care less to help. No streaming media, they should have jumped on that deal to merge with circuit city. But moronic mismanagement, and I guess they’ll end up like em too, nevermore.
I was in Toronto a few weeks back and a friend needed to hit an ATM around the corner. We looked across the street and low and behold a Blockbuster was in shut down mode. We checked it out and all Blurays were sold, there were I would say about 1000 DVD’s still on the shelves. My fav part, they had everything about 30% off… the problem most of the items were still regular prices of about $20-$30. No one is going to buy a used DVD for $15-$20 even if its a box set… They have no clue at all do they…
[QUOTE=Wookard;2502658]No one is going to buy a used DVD for $15-$20[/QUOTE]
Well, SOME people will because they have more money than brains. Once you get the rich suckers THEN you drop prices again. Circuit City did the exact same thing. Well, their liquidation company did. I fear many stores will follow the Toronto store’s fate. I think Blockbuster will sink before management realizes what they did wrong and they won’t figure out the solution until after the last store has shut its doors.
R.I.P. Blockbuster (1985-2010)
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So this company wants us to care if they go out of business.
Well, I for one do not. If they can not provide a product that people
want at a competitive price, they will go out of business.
This is the hard truth.
Innovate or die.
We can survive without Blockbuster.
I find myself renting movies from my cable service because:
- price in reasonable.
- instant delivery
- I don’t have to travel to and from a video store
You may make the best buggy whips available, but if people stop using buggies and drive cars, who cares?
[QUOTE=josephwfrancis;2503486]You may make the best buggy whips available, but if people stop using buggies and drive cars, who cares?[/QUOTE]
Some of us still use whips for, umm, recreational purposes.
Dear Revenue Canada, Please cancel my subscription.
Local rental stores have cut their prices to about 60%, which made the consumers happy and kept them surviving. They even have 4+1 promos, one free for every 4 rentals on some occasions.