Sheesh, I didn't even think of Circuit City.
Perhaps the businesses are going under because all the people who overextended themselves in mortgages had their arm adjustments and couldn't afford to go shopping because the mortgage payments went up. People whose rates rose no longer have the disposable income they thought they did when banks were wooing them with $500 mortgage payments or 3% rates that have since doubled.
I think many businesses like the automakers are failing because they refused to see the trends in the market and adjust, thereby causing their own downfall. Honda and Toyota aren't suffering and not only are many of their cars built here, but they have to pay import taxes on the ones that are manufactured overseas (which is why they built plants here--cheaper to produce them here than do it in Japan and pay taxes and shipping.
And GM is STILL pushing trucks in an economy car market...
Perhaps the businesses are going under because all the people who overextended themselves in mortgages had their arm adjustments and couldn't afford to go shopping because the mortgage payments went up. People whose rates rose no longer have the disposable income they thought they did when banks were wooing them with $500 mortgage payments or 3% rates that have since doubled.
I think many businesses like the automakers are failing because they refused to see the trends in the market and adjust, thereby causing their own downfall. Honda and Toyota aren't suffering and not only are many of their cars built here, but they have to pay import taxes on the ones that are manufactured overseas (which is why they built plants here--cheaper to produce them here than do it in Japan and pay taxes and shipping.
And GM is STILL pushing trucks in an economy car market...




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