Gottschalks Files for Chapter Eleven
Gottschalks has filed for Chapter 11 bankruptcy protection and they’ve put the company up for sale.
Gottschalks was hoping for a $30 million investment from Everbright Overseas Securities Ltd. But the deal fell through because Gottschalks’ lender reduced the company’s available credit.
Let’s see now, we (the taxpayers) just gave $700 billion of OUR money to the banking industry, for the explicit purpose of loosening up credit and stimulating the economy. Where did I read that? I must have misunderstood.
There’s one ray of hope for the Port Angeles Gottschalks: It’s supposed to be the highest producer per square foot of all the Gottschalks locations in Washington.
Gottschalks was hoping for a $30 million investment from Everbright Overseas Securities Ltd. But the deal fell through because Gottschalks’ lender reduced the company’s available credit.
Let’s see now, we (the taxpayers) just gave $700 billion of OUR money to the banking industry, for the explicit purpose of loosening up credit and stimulating the economy. Where did I read that? I must have misunderstood.
There’s one ray of hope for the Port Angeles Gottschalks: It’s supposed to be the highest producer per square foot of all the Gottschalks locations in Washington.
Labels: Everbright Overseas Securities Ltd., Port Angeles Gottschalks Chapter Eleven
posted by Tom Harper at 2:39 PM
20 Comments:
The reason things are going to get a lot worse is because Americans are in denial. They don’t see the real problems so therefore can’t fix them. Any stimulus package, no matter what the amount, the cream will be skimmed off the top by the greedy and everyone else will just get watered down 1 percent to drink.
I hope that your readers are getting ready for hard times and can be thankful for just what they have as long as they have a warm and dry room to live in, and some food.
Unless of course they are very well off, then they may only have to give up a fancy meal in town once or twice a week.
If it was a local problem it wouldn't be so bad, people could go other places to seek work.
But it's a global problem, there is no place to go, that I can see. Better get that garden started this year, maybe get a few chickens.
I have enough food for maybe six months, after that I may be in the same boat as many others.
I hate to sound like gloom and doom all the time, but I do spend a lot of time looking at the big picture and getting news from sites outside of America.
I hear they've got some incredible sales going on at Gottschalks. Get 'em while they're hot.
Yeah, you're a real expert BBC..."and that's the way it is, Friday the 9th of January 2009...I'm the 'ol fart BBC, good night."
Now we find out Ol' Cronkite was stretchin the truth all those years like the rest of the media today:
http://www.freerepublic.com/focus/f-news/1977013/posts
The economy will be fine when the media hails in Obama, the great savior...he's gonna fix everything...it's all a matter of what is perceived by the public, led on a leash by the manipulative media.
A month ago I predicted Gottschalks would close. An employee of the store attempted to rebut my prediction but, unfortunately, they wee either in serious denial or highly misinformed. In any event, the store will close within sixty days.
The next establishment to close will be McCrorie's Furniture.
On the plus side, you can pick up Gottschalks stock real cheap these days... 11 cents a share! Add them to your Wamu shares!
Hey! The DOW is up 60 today...'cause the Messiah is on his way to the throne!
At a tic past sixty-five years of being on this rock and seeing and experiencing a great many things I never gave past events much thought.
I could see that things would balance out, that it was just all humps and dips and I was okay with it all. In fact the dips where good to me.
This is the first time in my sixty-five years that I've become very concerned and assumed gloom and doom.
I would of course love to be wrong.
Hey! The DOW is up 60 today...'cause the Messiah is on his way to the throne!
You mean that rich man that is being taken into the good old boys club of politics to become a member?
I like him, I would go camping with him, I think that he means well, but the timing is wrong for him and he is fucked from the get go.
We are all fucked, the great American experiment is failing, and in my mind deserves to.
But deal with it, after anarchy for a while I'm hopeful that something greater will rise from the ashes.
Meanwhile, the weather report is looking decent so I think I will go on a camping trip the first of the week.
Liz, sell me short if you like, I'm used to that and I'm okay with it. I'm right 90 percent of the time over the long haul and that is what counts to me.
Circuit City to close 567 remaining US stores.
There you go. Whatever it means to you.
Yeah, and Mervyns closed a long time ago too...as did many other large stores.
They come and they go...a couple of new businesses are goin' up in Sequim!
Meanwhile, my end-of-year dividends in my mutual fund are buying more shares...at a great low price...when it bounces back, I'll be in da dough!!!
Circuit City? Gawd, there are sooooo many electronics chains...Best Buy, Costco, Radio Shack, no wonder they can't compete!!
"Your future dream is of a shopping spree ..."
Who sang that?
If Gottschalks goes under (and I hope to hell they don't), business should improve for Maurice's, the Alley Cat, the Toggery and other local clothing stores.
when it bounces back, I'll be in da dough!!!
Liz, by the time it bounces back you will be dead. I suggest that you just settle on being happy with what you have as long as it is a roof over your head and some food in your gut.
As for me, I would really like to stick my feet in some warm sand. Well, and to kiss some friendly boobs but bringing that up on this blog seems to offend some people.
Meanwhile, my end-of-year dividends in my mutual fund are buying more shares.
Mutual, interesting word in the business sales pitch world. Actually, this uneducated idiot country bumpkin did take that Dale Carnegie course.
But, Liz, don't think for a moment that it is there to favor you.
How about this one? "If there was some way that I could benefit you and make your life better, would you be interested in hearing about it?"
If you are, I just hooked another sucker. It's no wonder I don't use what I learned there, it's bullshit and I refuse to use people that way.
watch... maurice's (the clothing store that has clothing for BBC and his ilk, but nothing trendy) is going to go belly up, and then the downtown will be all antique/junk stores and "gift shops" (run by middle aged women as a hobby to get rid of the empty nest syndrome).
It's getting awful, and with fools like BBC wandering around crowing like a cock at dawn...it's going to be annoying, too.
I thought the fools wandering around town crowing like a cock at dawn all came from the Lee Hotel?
there are a lot of cocks crowing in this town....not all do it at dawn
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