Target laying off 600 employees in Minneapolis (real estate, credit card, houses)

[ashnat]

Target : Investors : Financial News Release=

[Jammie]

Well, that's not good. All the huge companies are having layoffs~Sprint, Caterpillar, Microsoft and on and on. Hopefully things will turn around within the next year or two or we'll be living in a third world country.

[Chris19]

I think that things will turn around, but may take time. Americans are known to be impatient and I am just as guilty as others. I would like the economy to improve soon also, but realize that the economy is going through a down cycle right now and will eventually correct itself and healing will happen slowly but surely. Panic and excessive worry will only make things worse and keeping calm and focused will help make the pain less painful and will go a long way in these stormy times. Things will get better, it is a matter of when.

[DannyBanany]

I was just up in Minneapolis and I got some GREAT deals at Circuit City. Unfortunately it was because they're closing up shop.

[SDHomesteader]

I think FINALLY, people are realizing what the difference between a Want and a Need is and people are spending less money on the Wants. Its about damn time if you ask me. Thats one thing we taught our son as soon as possible, the difference between a want and a need. Alot of kids now a days (hell along with their parents too) seem to think a Want is a need and they will die with out their MP3 Player, Cell Phone, Wii, Xbox or what have ya.

After just getting back from our trip to omaha I noticed alot of "crap" while we were there. 25 Department Stores all within 5 blocks of each other, 600 gas stations all within 5 blocks of each other, 100 hardware stores all within 5 blocks of each other, 2 billion Grocery Stores all within 5 blocks of each other. What the hell for. Do we really need Target, Walmart, JCpenny's, Kmart, etc.. all within eyeshot of each other. Over abundance of the same stuff if ya ask me. I just don't get it. I couldn't beleive how many NEW gas stations had sprung up since I had been there last 2 years ago. Seems theres a gas station every other block, and 4 at that, One on each damn corner.

[Chris19]

I think that this recession is a reality check for a lot of people. My biggest gripe is that people overpaid for single family real estate and built too big of homes. The keeping up with Jones' attitude by a number of people is not doing them favors.

The McMansions may be the future ghettos or subdivided houses. The houses are too expensive to heat and to maintain in general. This has happened back in the 1930s with the larger houses built back in the 20s and earlier. In my opinion, a lot of the newer homes should be more practical, sustainable, and a little more compact (not like the two-room shacks, but a reasonable 1500 sf main level as opposed to a 3,000-4,000 sf one that is commonplace these days.

It is saddening to see how many people maxed out on their credit card and were thinking that money grows on trees.

Recessions are no fun and are depressing to say the least. One silver lining is that recessions force peopel to take a reality check and do some soul searching. If one takes a good approach to challenging times, he or she will build character and come out stronger as a result.