JUST IN. Century III Mall to close. (Pittsburgh, Uniontown: consignment, buyers)

[Benzman66]

Originally Posted by saturdayskids

You really think this? Come on, man, look around.

Well, the bars and restaurants DEFINITELY are not hurting. When you have an hour wait at the restaurants on any given day for a table (Olive Garden, Red Lobster, Applebees, etc where the average meal for 2 people is $30+) and no elbow room at the bars/nightclubs (Any on the South Side, Station Square, Strip, etc where cover is $5 to 10$ just to get in, then drinks $3+ each ), it must be busy.

Neither is a necessity, and you can eat and drink at home a lot cheaper, so the people going obviously have the disposable income ( or many credit cards) to be doing so without worrying.

I am not saying EVERYONE is doing ok, sure retail is down a little, except maybe Wal Marts locally as they had a very good December so far (that right from managements mouth), but Pittsburgh overall is still doing A LOT better then other cities on the financials.

[PeterRabbit]

Foreclosures everywhere, banks and top 3 car companies needing $ billions and billions to keep from going under, major chain stores shutting down or cutting way back, retailers claiming it's been the worst Christmas in decades . . . you believe these are signs of prosperity?

.

[Benzman66]

Originally Posted by PeterRabbit

Foreclosures everywhere, banks and top 3 car companies needing $ billions and billions to keep from going under, major chain stores shutting down or cutting way back, retailers claiming it's been the worst Christmas in decades . . . you believe these are signs of prosperity?

.

NOTICE I said restaurants and bars, and I did not say ALL PEOPLE aren't having problems.

Supposedly from the analysts, retail is down 8% from last year, but the "real" numbers are to be released next week. Most of what is happening in retail is the result of bad operations (ridiculous high paying upper management positions, unnecessary spending, and embezzling or employee theft that is kept quiet) and home foreclosures usually due to consumer overspending and credit card usage. Basically biting off more than they can chew.

Sure, the "recession" is hitting the working class, poverty line, and retirees unfortunately, but the higher class is still holding pretty well, again according to analysts.

Being I am a Mercedes enthusiast, I tend to take notice to exotic cars, and there are quite a lot of 08 and 09 models (Mercedes, BMW, Jags, Lexus, and Saabs) on the streets lately.

Don't take my word for it. Just look around or check out a few restaurants any evening.

[TechieTransplant]

Originally Posted by Benzman66

Being I am a Mercedes enthusiast, I tend to take notice to exotic cars, and there are quite a lot of 08 and 09 models (Mercedes, BMW, Jags, Lexus, and Saabs) on the streets lately.

Don't take my word for it. Just look around or check out a few restaurants any evening.

I agree with you one hundred percent, as a fellow car enthusiast, and as a fine dinning enthusiast. I have to believe, however, there is some kind of catch to it all. I do believe there is a fair percentage of people living above their means.

And I notice all the exotic cars to, but that only makes me wonder more; what do these people do and where are so many people in one concentrated area (Upper St Clair, Mt Lebo, Peters Twshp, etc) making this kind of living?

[Benzman66]

Originally Posted by scottrpriester

I agree with you one hundred percent, as a fellow car enthusiast, and as a fine dinning enthusiast. I have to believe, however, there is some kind of catch to it all. I do believe there is a fair percentage of people living above their means.

And I notice all the exotic cars to, but that only makes me wonder more; what do these people do and where are so many people in one concentrated area (Upper St Clair, Mt Lebo, Peters Twshp, etc) making this kind of living?

Not sure what the catch would be. Speaking for myself, I own various real estate properties which I rent out in addition to having two retail businesses that I operate. Most of the people I know driving the cars are like me, either self employed in retail, service oriented businesses, professionals such as doctors, attorneys, etc, or investors.

I live in Mt. Lebo, but you are right, many live in USC, Peters, Fox Chapel, Robinson, and many live downtown in the condos. Plus, anytime you are near any upscale restaurants like Mortons, Capital Grille, etc, you are going to see a lot of the cars lined up.

Granted, we too have lost on some investments. but have a little more room to play then a lot of folks on limited incomes. Don't get me wrong, I do feel bad for many of the people who can't change their situation in life, but then some of them bring the problems upon themselves by going above and beyond their " safety cushion" limits when they know they shouldn't.

Hopefully someone can turn things around in the new year.
Obama??

[By~Tor]

Those who HAD money to begin with might be hurting less than everyone else.. and, considering that the moneyed people are a fairly small percentage of the overall populace, I'd say the majority of establishments are suffering a drop in clientele as of now....

I also think Pittsburgh IS fairing better than many other areas, largely because our blue-collar workers here are largely in positions that aren't going away...at least for awhile... and the white collared workers are still in industries that aren't being affected that bad...again, for the time being...

We'll see our city affected more deeply by about 3Q 2009, I'll betcha'!!!

[bboy36win]

Originally Posted by Benzman66

Don't take my word for it. Just look around or check out a few restaurants any evening.

The American economy is extraordinarily complex. You have to look further - a LOT further - than local bars and restaurants to take its temperature.

[Benzman66]

More stores closing at Century III

Old Navy closing Century III Mall store

[By~Tor]

Ten underperforming stores closing.... part of their own company's downsizing or bankruptcy proceedings.

C-III is just fine..... we'll be here for ya'...

[bbrian12]

Exodus of merchants continues at Century III Mall