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Old 05-16-2020, 10:34 AM
 
5,427 posts, read 4,404,158 times
Reputation: 7247

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Quote:
Originally Posted by TurtleCreek80 View Post
JCP had paid “NYC” salaries since they moved here from NYC in the late 1980’s. It was their talent retention strategy up until the last 2-3 year.

As with Neiman’s, it’s really the crushing debt from the Ron Johnson era that led to bankruptcy. Even coming out of the Great Recession, JCP bounced back moderately well. They also used to own a ton of their real estate - including the JCP office - which helped them control costs compared to commercial leases. But they had to sell / mortgage everything to borrow their way out of the Ron Johnson debacle.

Bottom line- the Board of Directors should be sued for corporate negligence, going back as far as Rob Johnson debacle and straight up to giving $10 million of “retention” bonuses to the C-Suite this week....the optics are terrible. Can’t imagine what employee morale is like right now.

They won’t find a buyer, not when there are more attractive brands that can get scooped up for “dimes on the dollar” right now. Maybe their creditors will work with them but I agree....headed for a Ch 7 and then possible rebirth as just jcp.com.
I'm guessing the "NYC" salaries applied to workers at the corporate level and not at the store level.

My interview with JCP was right after the end of the Ron Johnson era. I had serious reservations at the time about the company's ability to survive at the time. It was an interview that went nowhere, which I was glad about due to my reservations about the health of the company. I'm amazed that it took as long as it did for the bankruptcy filing to happen.

JCP was having issues even before Ron Johnson came from Apple in 2011. Johnson was expected to be a turnaround initiator and implementer.

Coronavirus did not kill JCP. JCP would have died in the absence of a pandemic. It would have meandered for maybe 2-3 years longer. It can be said that Coronavirus shortened its lifespan.

This Business Insider link is a good historical view of JCP. It covers what went wrong.

JCPenney had an opportunity with the 2008 downturn. It failed to capitalize upon it. A lot of the problems that ultimately caused it to go bankrupt in 2020 are closely tied to the last downturn.

One thing Ron Johnson realized is that the American middle class is dying. The broad middle class that existed prior to 1980 has seen a large percentage of its contingent disappear. Most of the disappearing middle class has been shifted into the lower class, with a small amount of dispersion into the upper class. A lot of classic, middle class brands have suffered. Budweiser is an example of this. JCPenney is as well.

As Johnson was aware of this shift, his response to this was to try to make JCPenney more upscale. A better choice would have been to make JCPenney more downscale. Walmart and the dollar stores have been doing well. JCPenney's core customer was addicted to discounting. The emphasis on discounting should have remained, which is appropriate downscale positioning. Know the customer. The customer had no interest in a hip, aspirational Apple like environment.

Quote:
Originally Posted by TurtleCreek80 View Post
My guess is NorthPark is the only “safe” NM in the DFW area.

From a financial perspective only, downtown Dallas would be the first one on the chopping block. It’s hard to be sentimental when you’re staring down a bankruptcy judge.
I like the Neiman in Northpark, even though I'm not a Neiman customer. It'd be good if Neiman survived in Northpark.

Unlike JCP, Neiman is salvageable with a smaller footprint. Because Neiman serves an upscale market, they still have a target market with real financial assets. Neiman just has been a little stodgy. There's a way to update Neiman without alienating the core customer base. What needs to happen with Neiman is like updating a 1940s era home in the Park Cities with an interior and furnishings that are more reflective of current times and tastes.

My expectation, without being in the retail industry, is that there will be Neiman store closures and changes within the Neiman locations that survive. I would expect some greater reliance upon eCommerce. The good news is that I expect Neiman to emerge from bankruptcy in some way. It will be painful.

 
Old 05-16-2020, 12:46 PM
 
3,478 posts, read 6,517,839 times
Reputation: 3239
Quote:
Unlike JCP, Neiman is salvageable with a smaller footprint. Because Neiman serves an upscale market, they still have a target market with real financial assets. Neiman just has been a little stodgy. There's a way to update Neiman without alienating the core customer base. What needs to happen with Neiman is like updating a 1940s era home in the Park Cities with an interior and furnishings that are more reflective of current times and tastes.
They would be wise to look at Nordstrom. I'll happily shop there but I never bothered to go into the Neiman's at Northpark because it felt too "upscale" for me
 
Old 05-16-2020, 10:49 PM
 
609 posts, read 260,728 times
Reputation: 1712
I hate department stores. They seem so outdated and old fashioned. And the salespeople are so rude. I prefer to buy clothes online.
 
Old 05-17-2020, 12:33 AM
 
28,563 posts, read 18,563,896 times
Reputation: 30802
Quote:
Originally Posted by carrcollie View Post
I hate department stores. They seem so outdated and old fashioned. And the salespeople are so rude. I prefer to buy clothes online.

Buying clothes or shoes online is hit-or-miss for me. Less than half of what I buy online proves wearable. I'd much rather examine the material, inspect the seams, try it on, et cetera, before buying and know what I've got before the money has been paid.
 
Old 05-17-2020, 12:57 AM
 
3,075 posts, read 5,620,114 times
Reputation: 2698
I did hear if you wear blue shoes with a yellow hat it protects you from the virus. Trust me, comrade Fauci said it.
 
Old 05-17-2020, 01:05 AM
 
3,075 posts, read 5,620,114 times
Reputation: 2698
Quote:
Originally Posted by Sunbather View Post
This is factually incorrect. You are either parroting other factually incorrect or misleading statements or just spouting your own opinion. It may not be your fault: lots of confusing information has been put out, even by medical professionals. But statements like this are incorrect all the same.

The effectiveness is not always very high, depending on the mask, but it is greater than zero, with many, many applicable studies over the years to support this.
Nope, I'm not. Comrade Fauci and the CDC said they were not necessary just over a month ago. They are feel good measures to make people feel safe. A cloth mask does not stop a virus which is a very tiny droplet that the mask doesn't stop. Not to mention most are wearing the same disgusting mask again and again that is probably infected anyway. Just the same way we have shown gloves were contaminated. Masks just give people a false sense of protection. I've seen too many walk around with them and touch multiple things.

An expert from University of Illinois, Lisa Brosseau did a large study on masks and showed no help to a virus. It even explained how those in San Francisco during the 1918 virus pandemic were forced to wear masks and it did nothing to stop the virus.

If you want to wear one cause you feel better, I'm fine with that. It is interesting that it was wash your hands a few months ago, now it is wear a mask. Geez, they just keep changing the narrative.
 
Old 05-17-2020, 04:46 AM
 
578 posts, read 470,772 times
Reputation: 1029
The narrative does change everyday.
At first it's all about (((flattening the curve))), and now Fauci says we cannot reopen without a (((vaccine))).

Something is off. Currently Collin County only has 11 covid patients in hospitals. Is it the curve we are supposed to handle?
 
Old 05-17-2020, 11:08 AM
 
3,075 posts, read 5,620,114 times
Reputation: 2698
Quote:
Originally Posted by jiping View Post
The narrative does change everyday.
At first it's all about (((flattening the curve))), and now Fauci says we cannot reopen without a (((vaccine))).

Something is off. Currently Collin County only has 11 covid patients in hospitals. Is it the curve we are supposed to handle?
Agreed. This has been my point the entire time and people aren't even questioning it. They have been completely inconsistent so why should I just follow what they say now without questioning it.
 
Old 05-17-2020, 07:17 PM
 
451 posts, read 312,646 times
Reputation: 415
https://mobile.twitter.com/TexasDSHS...721329665?s=20

734 of 1,801 new cases reported are from Potter and Randall counties. These counties’ new cases are largely from targeted testing of employees at meat plants in the area. More test results from plants are expected.
 
Old 05-18-2020, 07:05 PM
 
6,345 posts, read 8,058,004 times
Reputation: 8784
Default Collin County will do jury trials by Zoom.

Collin county will hold jury trials by Zoom, due to Coronavirus pandemic. How long do they expect to do these Zoom jury trials? Are they waiting until a vaccine, before going back to live jury trials?

https://www.reuters.com/article/us-h...-idUSKBN22U1FE
Quote:
With jury trials on hold throughout the United States because of the coronavirus pandemic, court officials in Texas are trying something new: let jurors hear a case through Zoom.

Lawyers in an insurance dispute in Collin County District Court on Monday picked a jury to hear the case by videoconference, in what officials believe is the first virtual jury trial to be held nationally amid the COVID-19 crisis.

More than two dozen potential jurors logged in by smartphone, laptop and tablet for jury selection, which was streamed live on YouTube here with a judge occasionally providing tech advice on how to best use their devices.
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