Not only did Kmart fail to embrace technology, they failed to carve-out an own able niche in the marketplace
Walmart and Target did far more damage to Kmart than Amazon. Amazon was barely a glint in Bezos' eye while WM was out valuing Kmart in the marketplace and Target delivered value + guest swag. Both delivered on food better than Kmart as well - a massive traffic driver.
Big K lost the value crown and couldn't deliver on the upscale in any way shape or form. Their supply chain wasn't up to snuff either.
The company known for blue light specials died a long, slow death. The same fate JC Penney and Sears are dealing with in hospice now.
![[Image: maxresdefault.jpg]](https://i.ytimg.com/vi/p2Nx8cVOLZw/maxresdefault.jpg)
Covid has also accelerated the demise of small local business as well. They can not compete on scale alone for pricing goods and then you add the labor issue. Why would a line-cook work at a local restaurant for minimum wage of $7.25 (still here in PA) when he/she can make 16+ at a Target or all those warehouse jobs at $20+. The local can afford to double labor cost along with the price inflation while the Walmarts, Targets, Amazon have no problem paying livable wages and getting Labor.
Quote: @minny65 said:
Covid has also accelerated the demise of small local business as well. They can not compete on scale alone for pricing goods and then you add the labor issue. Why would a line-cook work at a local restaurant for minimum wage of $7.25 (still here in PA) when he/she can make 16+ at a Target or all those warehouse jobs at $20+. The local can afford to double labor cost along with the price inflation while the Walmarts, Targets, Amazon have no problem paying livable wages and getting Labor.
my breakfast greeting yesterday at a micky dees in central SD.
"welcome to mcdonalds where our minimum starting wage is $13 per hour" followed by "what can I get you today" =)
over heard while waiting in a line a few days ago, 2 guys talking that apparently knew each other, 1 asks the other ( about 45 years old) where hes working these days, 2nd guy laughs and says he hasnt worked for about 18 months, followed it up with that hes never had as much in savings as he currently does. I am guessing that he squirreled away his covid cash instead of pissing it away on ATVs and other luxury items like many did around here, and lives like a pauper using his covid stash to supplement anything else he is able to scrape off the govt.
Quote: @JimmyinSD said:
@ minny65 said:
Covid has also accelerated the demise of small local business as well. They can not compete on scale alone for pricing goods and then you add the labor issue. Why would a line-cook work at a local restaurant for minimum wage of $7.25 (still here in PA) when he/she can make 16+ at a Target or all those warehouse jobs at $20+. The local can afford to double labor cost along with the price inflation while the Walmarts, Targets, Amazon have no problem paying livable wages and getting Labor.
my breakfast greeting yesterday at a micky dees in central SD.
"welcome to mcdonalds where our minimum starting wage is $13 per hour" followed by "what can I get you today" =)
over heard while waiting in a line a few days ago, 2 guys talking that apparently knew each other, 1 asks the other ( about 45 years old) where hes working these days, 2nd guy laughs and says he hasnt worked for about 18 months, followed it up with that hes never had as much in savings as he currently does. I am guessing that he squirreled away his covid cash instead of pissing it away on ATVs and other luxury items like many did around here, and lives like a pauper using his covid stash to supplement anything else he is able to scrape off the govt.
Yea, so these chains now advertise in person their wages, not surprised. Min wage in SD is $9.30 so I am not sure if Mcd's is going to find enough employees at $13. This is a Labor market...which I never thought would happen but again my point is the chains can compete by raising their wages while Joe's Chili shake around the corner can't afford to raise the $9.30 to $10 when all cost continue to climb.
I'm not sure what your point is about the conversation between those two 45 year olds? So the one guy didn't blow his Covid relief money that he obviously scapped from the government and you have a problem that he doesn't "need" to take a job he doesn't want? But you don't have a problem if he did go buy that ATV (and stimulate the economy  and is now broke and has to accept that $13 job at Mcd's??
Maybe that 45 year old is like me - a 30 year corporate sales executive - who would max out on the unemployment taken out of my corporate checks at around 9.5 to 10 months - for well over 20 of those years. I have paid enough unemployment for about 20+ people. My company folded, and it as because of Covid, and I collected for the first time in my life and I don't feel one bit bad about it. I am happy that this Country's government has a social support system for situations like Covid. They also spread the funds to Business and even religious group leaders as unemployment - of course they never paid a dime into the system.
The list of people who crap on our social safety net who have used it and needed it is endless......One former friend is so anti government and endlessly talks about how everyone is living off the government etc.. He is/was his whole life a seasonal construction worker who would collect during the winter months. He also has 4 kids who when he was collecting the kids fell under the Chip program for health care. If you talked to him today you would think he never needed any help from anyone. My brother-in-law is the same, has railed against everything someone else gets that he doesn't his whole life. His whole life he had trouble keeping a job and even when he worked as a draftsman he called himself an engineer like the whole family didn't know he didn't even go to college. He would collect on and off for years all the while railing against the government handout's that "everyone" else gets but he, he is a self made man. He self-proclaimed retirement a few years ago (not sure he even had a job) before age 65. His wife, who is in the mental health field was able to get him designated as having a mental health disability so he can collect his medicare/medicaid early and get aide.
My point is, all kinds of people and businesses collected Covid relief $$$ and most of it was needed, not all but most. Most of it was used wisely, not all, but most.
(This coming right after my last post about no one coming to an football/entertainment site to discuss Covid vax etc IMO this is more a government safety net/Covid relief comment but of course everything is political now even health care which I thought I would never see.
Quote: @minny65 said:
@ JimmyinSD said:
@ minny65 said:
Covid has also accelerated the demise of small local business as well. They can not compete on scale alone for pricing goods and then you add the labor issue. Why would a line-cook work at a local restaurant for minimum wage of $7.25 (still here in PA) when he/she can make 16+ at a Target or all those warehouse jobs at $20+. The local can afford to double labor cost along with the price inflation while the Walmarts, Targets, Amazon have no problem paying livable wages and getting Labor.
my breakfast greeting yesterday at a micky dees in central SD.
"welcome to mcdonalds where our minimum starting wage is $13 per hour" followed by "what can I get you today" =)
over heard while waiting in a line a few days ago, 2 guys talking that apparently knew each other, 1 asks the other ( about 45 years old) where hes working these days, 2nd guy laughs and says he hasnt worked for about 18 months, followed it up with that hes never had as much in savings as he currently does. I am guessing that he squirreled away his covid cash instead of pissing it away on ATVs and other luxury items like many did around here, and lives like a pauper using his covid stash to supplement anything else he is able to scrape off the govt.
Yea, so these chains now advertise in person their wages, not surprised. Min wage in SD is $9.30 so I am not sure if Mcd's is going to find enough employees at $13. This is a Labor market...which I never thought would happen but again my point is the chains can compete by raising their wages while Joe's Chili shake around the corner can't afford to raise the $9.30 to $10 when all cost continue to climb.
I'm not sure what your point is about the conversation between those two 45 year olds? So the one guy didn't blow his Covid relief money that he obviously scapped from the government and you have a problem that he doesn't "need" to take a job he doesn't want? But you don't have a problem if he did go buy that ATV (and stimulate the economy and is now broke and has to accept that $13 job at Mcd's??
Maybe that 45 year old is like me - a 30 year corporate sales executive - who would max out on the unemployment taken out of my corporate checks at around 9.5 to 10 months - for well over 20 of those years. I have paid enough unemployment for about 20+ people. My company folded, and it as because of Covid, and I collected for the first time in my life and I don't feel one bit bad about it. I am happy that this Country's government has a social support system for situations like Covid. They also spread the funds to Business and even religious group leaders as unemployment - of course they never paid a dime into the system.
The list of people who crap on our social safety net who have used it and needed it is endless......One former friend is so anti government and endlessly talks about how everyone is living off the government etc.. He is/was his whole life a seasonal construction worker who would collect during the winter months. He also has 4 kids who when he was collecting the kids fell under the Chip program for health care. If you talked to him today you would think he never needed any help from anyone. My brother-in-law is the same, has railed against everything someone else gets that he doesn't his whole life. His whole life he had trouble keeping a job and even when he worked as a draftsman he called himself an engineer like the whole family didn't know he didn't even go to college. He would collect on and off for years all the while railing against the government handout's that "everyone" else gets but he, he is a self made man. He self-proclaimed retirement a few years ago (not sure he even had a job) before age 65. His wife, who is in the mental health field was able to get him designated as having a mental health disability so he can collect his medicare/medicaid early and get aide.
My point is, all kinds of people and businesses collected Covid relief $$$ and most of it was needed, not all but most. Most of it was used wisely, not all, but most.
(This coming right after my last post about no one coming to an football/entertainment site to discuss Covid vax etc IMO this is more a government safety net/Covid relief comment but of course everything is political now even health care which I thought I would never see.
the point was... that guy, of sound working age, happily hasnt worked in SD for over 18 montsh ( we didnt shut down over here ) he likely didnt lose his job due to covid, but when he did he hasnt looked back. I am sure he isnt unique and that a year or so of extra unemployment ( more than many people made in a normal week prior to covid ) even when the checks stopped he feels no compelling reason to go back to work, I am certain he isnt alone and that is why employers are facing employee shortages. it used to be that they werent paying enough, that they were losing out to other companies, thats not that case any longer, minimum wage has no bearing on the conversation and honestly it hasnt for nearly a decade for most jobs over here.
People think this wage race is a good thing, its not, yes those low/no educated people that made my breakfast yesterday are now making $13 an hour, congratulations, my meal that was $7 a year ago is now over $10, so what have they gained? inflation caused by many things including the higher wages being demanded will eat up any income increase that they see as a result of the current jobs market. it will force smaller companies out of business ( already most smaller and mid size communities have seen their local eating and other establishments close down due to lack of affordable help ), so we end up with more walmarts and other major chains, I dont see that as a win for America long term.
Quote: @minny65 said:
@ JimmyinSD said:
@ minny65 said:
Covid has also accelerated the demise of small local business as well. They can not compete on scale alone for pricing goods and then you add the labor issue. Why would a line-cook work at a local restaurant for minimum wage of $7.25 (still here in PA) when he/she can make 16+ at a Target or all those warehouse jobs at $20+. The local can afford to double labor cost along with the price inflation while the Walmarts, Targets, Amazon have no problem paying livable wages and getting Labor.
my breakfast greeting yesterday at a micky dees in central SD.
"welcome to mcdonalds where our minimum starting wage is $13 per hour" followed by "what can I get you today" =)
over heard while waiting in a line a few days ago, 2 guys talking that apparently knew each other, 1 asks the other ( about 45 years old) where hes working these days, 2nd guy laughs and says he hasnt worked for about 18 months, followed it up with that hes never had as much in savings as he currently does. I am guessing that he squirreled away his covid cash instead of pissing it away on ATVs and other luxury items like many did around here, and lives like a pauper using his covid stash to supplement anything else he is able to scrape off the govt.
Yea, so these chains now advertise in person their wages, not surprised. Min wage in SD is $9.30 so I am not sure if Mcd's is going to find enough employees at $13. This is a Labor market...which I never thought would happen but again my point is the chains can compete by raising their wages while Joe's Chili shake around the corner can't afford to raise the $9.30 to $10 when all cost continue to climb.
I'm not sure what your point is about the conversation between those two 45 year olds? So the one guy didn't blow his Covid relief money that he obviously scapped from the government and you have a problem that he doesn't "need" to take a job he doesn't want? But you don't have a problem if he did go buy that ATV (and stimulate the economy and is now broke and has to accept that $13 job at Mcd's??
Maybe that 45 year old is like me - a 30 year corporate sales executive - who would max out on the unemployment taken out of my corporate checks at around 9.5 to 10 months - for well over 20 of those years. I have paid enough unemployment for about 20+ people. My company folded, and it as because of Covid, and I collected for the first time in my life and I don't feel one bit bad about it. I am happy that this Country's government has a social support system for situations like Covid. They also spread the funds to Business and even religious group leaders as unemployment - of course they never paid a dime into the system.
The list of people who crap on our social safety net who have used it and needed it is endless......One former friend is so anti government and endlessly talks about how everyone is living off the government etc.. He is/was his whole life a seasonal construction worker who would collect during the winter months. He also has 4 kids who when he was collecting the kids fell under the Chip program for health care. If you talked to him today you would think he never needed any help from anyone. My brother-in-law is the same, has railed against everything someone else gets that he doesn't his whole life. His whole life he had trouble keeping a job and even when he worked as a draftsman he called himself an engineer like the whole family didn't know he didn't even go to college. He would collect on and off for years all the while railing against the government handout's that "everyone" else gets but he, he is a self made man. He self-proclaimed retirement a few years ago (not sure he even had a job) before age 65. His wife, who is in the mental health field was able to get him designated as having a mental health disability so he can collect his medicare/medicaid early and get aide.
My point is, all kinds of people and businesses collected Covid relief $$$ and most of it was needed, not all but most. Most of it was used wisely, not all, but most.
(This coming right after my last post about no one coming to an football/entertainment site to discuss Covid vax etc IMO this is more a government safety net/Covid relief comment but of course everything is political now even health care which I thought I would never see.
I sure as hell doubt that. Lots of people took trips, spent it frivolously and will be the first to complain when the inflation starts hurting their food supply.
Quote: @JimmyinSD said:
People think this wage race is a good thing, its not, yes those low/no educated people that made my breakfast yesterday are now making $13 an hour, congratulations, my meal that was $7 a year ago is now over $10, so what have they gained? inflation caused by many things including the higher wages being demanded will eat up any income increase that they see as a result of the current jobs market. it will force smaller companies out of business ( already most smaller and mid size communities have seen their local eating and other establishments close down due to lack of affordable help ), so we end up with more walmarts and other major chains, I dont see that as a win for America long term.
The government during the Trump and Biden administrations
have been printing massive amounts of money. Imagine that there’s a fixed amount of goods and
services to buy. Now imagine that the
government increases the amount of dollars in circulation by 20%. If supply and demand stay the same, wages and
prices should increase by about 20% as that new money circulates through the
economy. Wages and Costs should be both
be expected to increase as the number of dollars in circulation increases. Furthermore, you can also say that when you
aren’t seeing wages or prices increase relative to the increase in number of
dollars in circulation, someone is taking it in the shorts. For decades, technological improvements have
driven down costs such that the inflation of prices for a lot of goods has
remained relatively stable and this has allowed them to not have to increase
wages proportionally to the increase in number of dollars, and this allowed the
owners to put a larger proportion of the new dollars into their pockets
compared to the laborers. We can no
longer pretend that value of a dollar is relatively stable. We all need to be adjusting fairly rapidly.
Quote: @StickyBun said:
@ Mike Olson said:
How the fuck did the company that was known for the catalog not find a way to make use of the internet? Just completely mind boggling. They were Amazin before there was the internet.
I read stories that they just failed to embrace the difital age.
https://www.cleo.com/blog/downfall-of-sears
I think part of the issue with this is not so much people didn't envision online sales being popular, but very few back then could comprehend HOW Amazon has done it: endless supplies of VC money. The story below is 8 years old, but it explains the HIGHLY unique circumstances Amazon has prospered in:
https://www.fool.com/investing/general/2...%20journey.
"Amazon isn't making profits simply because it is in investment mode. This may sound surprising, considering that 19-year-old Amazon is the world's largest online retailer, not a new start-up. However, for Amazon's CEO and founder, Jeff Bezos, the company is only at the beginning of a long journey." Motley Fool - 2013.
"Amazon makes a profit, but that profit stays within Amazon as a business, and doesn't get paid out to shareholders or managers. Jeff Bezos doesn't get any of that. The profit gets reinvested in the business for future growth, to be able to generate more profit. Investors believe that with this growth, over time, Amazon will generate more than a trillion US dollars in after tax profit. Hence, they value Amazon at around one trillion US dollars now". (not sure how old this quote is).
This is not how business was done in the 70s and 80s (and before). It was unfathomable to investors, business owners, etc. that ANY venture capitalists would be this patient and undemanding. The business model of same day/overnight delivery is expensive. Inventory is a huge cost in their distribution centers. They've gotten extremely lucky that along the way, USPS has assisted with weekend deliveries as contractors and using that infrastructure.
Amazon is an excellent company, but it has had a TON of money thrown at it to succeed.
What happened is that the powers that be decided that the
companies they control are going to win. We can all see that certain companies such as
Amazon, Facebook, Google, Tesla, etc. just get massive amounts of money thrown
at them in ways that don’t make sense via traditional investing logic. People with way too much money just keep
pushing their prices up, the market follows suit and increases the amount of
money they receive. This endless amount
of money drives out all the competition.
These companies were also heavily funded by 3 letter agencies.
Quote: @minny65 said:
@ JimmyinSD said:
@ minny65 said:
Covid has also accelerated the demise of small local business as well. They can not compete on scale alone for pricing goods and then you add the labor issue. Why would a line-cook work at a local restaurant for minimum wage of $7.25 (still here in PA) when he/she can make 16+ at a Target or all those warehouse jobs at $20+. The local can afford to double labor cost along with the price inflation while the Walmarts, Targets, Amazon have no problem paying livable wages and getting Labor.
my breakfast greeting yesterday at a micky dees in central SD.
"welcome to mcdonalds where our minimum starting wage is $13 per hour" followed by "what can I get you today" =)
over heard while waiting in a line a few days ago, 2 guys talking that apparently knew each other, 1 asks the other ( about 45 years old) where hes working these days, 2nd guy laughs and says he hasnt worked for about 18 months, followed it up with that hes never had as much in savings as he currently does. I am guessing that he squirreled away his covid cash instead of pissing it away on ATVs and other luxury items like many did around here, and lives like a pauper using his covid stash to supplement anything else he is able to scrape off the govt.
Yea, so these chains now advertise in person their wages, not surprised. Min wage in SD is $9.30 so I am not sure if Mcd's is going to find enough employees at $13. This is a Labor market...which I never thought would happen but again my point is the chains can compete by raising their wages while Joe's Chili shake around the corner can't afford to raise the $9.30 to $10 when all cost continue to climb.
I'm not sure what your point is about the conversation between those two 45 year olds? So the one guy didn't blow his Covid relief money that he obviously scapped from the government and you have a problem that he doesn't "need" to take a job he doesn't want? But you don't have a problem if he did go buy that ATV (and stimulate the economy and is now broke and has to accept that $13 job at Mcd's??
Maybe that 45 year old is like me - a 30 year corporate sales executive - who would max out on the unemployment taken out of my corporate checks at around 9.5 to 10 months - for well over 20 of those years. I have paid enough unemployment for about 20+ people. My company folded, and it as because of Covid, and I collected for the first time in my life and I don't feel one bit bad about it. I am happy that this Country's government has a social support system for situations like Covid. They also spread the funds to Business and even religious group leaders as unemployment - of course they never paid a dime into the system.
The list of people who crap on our social safety net who have used it and needed it is endless......One former friend is so anti government and endlessly talks about how everyone is living off the government etc.. He is/was his whole life a seasonal construction worker who would collect during the winter months. He also has 4 kids who when he was collecting the kids fell under the Chip program for health care. If you talked to him today you would think he never needed any help from anyone. My brother-in-law is the same, has railed against everything someone else gets that he doesn't his whole life. His whole life he had trouble keeping a job and even when he worked as a draftsman he called himself an engineer like the whole family didn't know he didn't even go to college. He would collect on and off for years all the while railing against the government handout's that "everyone" else gets but he, he is a self made man. He self-proclaimed retirement a few years ago (not sure he even had a job) before age 65. His wife, who is in the mental health field was able to get him designated as having a mental health disability so he can collect his medicare/medicaid early and get aide.
My point is, all kinds of people and businesses collected Covid relief $$$ and most of it was needed, not all but most. Most of it was used wisely, not all, but most.
(This coming right after my last post about no one coming to an football/entertainment site to discuss Covid vax etc IMO this is more a government safety net/Covid relief comment but of course everything is political now even health care which I thought I would never see.
I can’t imagine how many Thanksgiving dinners you’ve been at where you wanted to call your brother in law out on some of this stuff ha. Jeez
Quote: @pattersaur said:
@ minny65 said:
@ JimmyinSD said:
@ minny65 said:
Covid has also accelerated the demise of small local business as well. They can not compete on scale alone for pricing goods and then you add the labor issue. Why would a line-cook work at a local restaurant for minimum wage of $7.25 (still here in PA) when he/she can make 16+ at a Target or all those warehouse jobs at $20+. The local can afford to double labor cost along with the price inflation while the Walmarts, Targets, Amazon have no problem paying livable wages and getting Labor.
my breakfast greeting yesterday at a micky dees in central SD.
"welcome to mcdonalds where our minimum starting wage is $13 per hour" followed by "what can I get you today" =)
over heard while waiting in a line a few days ago, 2 guys talking that apparently knew each other, 1 asks the other ( about 45 years old) where hes working these days, 2nd guy laughs and says he hasnt worked for about 18 months, followed it up with that hes never had as much in savings as he currently does. I am guessing that he squirreled away his covid cash instead of pissing it away on ATVs and other luxury items like many did around here, and lives like a pauper using his covid stash to supplement anything else he is able to scrape off the govt.
Yea, so these chains now advertise in person their wages, not surprised. Min wage in SD is $9.30 so I am not sure if Mcd's is going to find enough employees at $13. This is a Labor market...which I never thought would happen but again my point is the chains can compete by raising their wages while Joe's Chili shake around the corner can't afford to raise the $9.30 to $10 when all cost continue to climb.
I'm not sure what your point is about the conversation between those two 45 year olds? So the one guy didn't blow his Covid relief money that he obviously scapped from the government and you have a problem that he doesn't "need" to take a job he doesn't want? But you don't have a problem if he did go buy that ATV (and stimulate the economy and is now broke and has to accept that $13 job at Mcd's??
Maybe that 45 year old is like me - a 30 year corporate sales executive - who would max out on the unemployment taken out of my corporate checks at around 9.5 to 10 months - for well over 20 of those years. I have paid enough unemployment for about 20+ people. My company folded, and it as because of Covid, and I collected for the first time in my life and I don't feel one bit bad about it. I am happy that this Country's government has a social support system for situations like Covid. They also spread the funds to Business and even religious group leaders as unemployment - of course they never paid a dime into the system.
The list of people who crap on our social safety net who have used it and needed it is endless......One former friend is so anti government and endlessly talks about how everyone is living off the government etc.. He is/was his whole life a seasonal construction worker who would collect during the winter months. He also has 4 kids who when he was collecting the kids fell under the Chip program for health care. If you talked to him today you would think he never needed any help from anyone. My brother-in-law is the same, has railed against everything someone else gets that he doesn't his whole life. His whole life he had trouble keeping a job and even when he worked as a draftsman he called himself an engineer like the whole family didn't know he didn't even go to college. He would collect on and off for years all the while railing against the government handout's that "everyone" else gets but he, he is a self made man. He self-proclaimed retirement a few years ago (not sure he even had a job) before age 65. His wife, who is in the mental health field was able to get him designated as having a mental health disability so he can collect his medicare/medicaid early and get aide.
My point is, all kinds of people and businesses collected Covid relief $$$ and most of it was needed, not all but most. Most of it was used wisely, not all, but most.
(This coming right after my last post about no one coming to an football/entertainment site to discuss Covid vax etc IMO this is more a government safety net/Covid relief comment but of course everything is political now even health care which I thought I would never see.
I can’t imagine how many Thanksgiving dinners you’ve been at where you wanted to call your brother in law out on some of this stuff ha. Jeez
Yea but he is too dumb to even make a point with.
I was a Regional Sales Manger of about 30 sales ppl for a medical company years ago and he asked me if I thought he could get in the field. In other words give him a 6 figure job...the minimum requirement from HR was a 4 year college degree with at least a 3.2 GPA with a science concentration or the degree and at least 5 years of Sales. He was a draftsman with a high school diploma (I think). He was surprised when I told him those minimum requirements.
Has not stopped him one bit from spewing how everyone rips off the system. I realized he has no mirrors in his house
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