Liquidation company is taking control of all affected stores -
tomorrow morning.

Will CC price go up during the holidays since consumers will be buying
more or will this just stay flat or go down in price?

you are correct about the other not so good, we were told that our
store (in Newnan GA) is one of 155 stores to be closed by Dec. 31
2008. They are not sure on the date of our last day, but the deal has
been signed and we are heading to the unemployment line.

I was a top manager in the Charlottesville Virginia store up until a
few weeks ago when I saw the writing on the wall. I took another
career oppurtunity a few weeks ago with another company.

Today I recieved a slew of texts from some old friends of mine from my
previous store. Yup. You guessed it. That particular store is closing.

I have been layed off (fired) during the first round of layoffs a few
years back. Rehired. Offered managment. And just recently dodged a
bullet again because the store I was managment of just got canned.

Say what you want about CC. They are a sinking ship. And I found my
way to a life boat.

I feel sorry for those who haven't.......

heah agoodwitch,  how many employees total u figure? 7500 total? whtat
was the total p 'n' l to run  a store every month, can u give me an
idea about
labor costs, rent, utilities.  i am grateful for this info.  thank s.
PS i am sure you would agree the biggest mistake CC made was to stop
paying employees comish? that was in 05 andit got them to start
sliding in 06.   tell your friends to head to bestbuy and home depot,
good/beter money and more oppotunity.

for anyone curious what stores are closing or if they're in your area,
use the store locater on circuitcity.com and any store that is closing
has been removed from the list.

It will go above $1 and later it will stay flat for a month or two
until the liquidation money evaporates.
If CC is lucky someone will step in to buy CC else forget cc stocks.

The liquidation is probably going to be pretty painful for the
competition... BBY sales were going to be bad enough already, now they
have to compete with CC selling everything at 30% or more off.

This is going to be great for consumers though (at least the ones with
jobs still). With the pending recession, prices are going to be
slaughtered even more than a normal liquidation. I'm hoping to pick up
some really cheap crap I don't really need.

As for stock price, mark me down for $0.75 at COB... just knowing
there won't be a bankruptcy before X-mas should push the stock up.

Well, Mr. Jack Loftus (of Gizmodo Australia), how about some honesty
as opposed to dishonesty you put out as "news"!  You are quite close
to being a blad-faced liar, and seem like someone desperately trying
to push CC's stock further down!  First, you say that Sony has
discontinued shipments to CC, and that is false; Sony turned around
trucks headed to a CC distribution center that had a huge sinhole
appear right next to the building.  Sony has NOT discontined
merchandise shipments to CC.  Second, you now have the gall to claim
that CC is "withdrawing from the consumer electronics business for
good."  Again, that is patently false on your part.  CC has done and
is doing no such thing; rather, CC is closing unprofitable stores in
an effort to avoid bankruptcy altogether and to begin to turn the
company around profitably by keeping its many other profitable stores
in business--as consumer electronics sellers!  Come to think of it,
you ARE a liar!

Let’s think a little optimistic here, I know that CC is “permanently”
closing some store (ok a lot of stores) but let’s say they somehow are
able to turn the company over, is it possible for them to open stores
back in towns that they are closing now?? Also I have heard that Best
Buy has filed for some type of bankruptcy protection in the past…is
this true?

down to call s.r.tunn a jack@ss!

they are still unsure and have no info to when they're actually
closing.   but my guess would be that they will be closing after the
holidays.  ESPCIALLY after black fridays.. which is the busiest day of
the year.

just for comparison... on an avg... the store im at usually has a
35-45K budget to hit.   on black friday of last year there were 730K
in sales.     20 times as much as a regular day.   Hopefully this will
be a good season for CC.. and hopefully with the official press
release tomorrow morning... will help stock prices rise a bit.

I love it when I have to clear things up. First of all, I keep hearing
people say things like "CC associates aren't motivated, aren't
knowledgable, ignore customer....blah blah blah" For the most part,
it's totally false. The store that I work at, and many of the other
stores that I've personally been to it's not the case. About half of
the people are very knowledgable about the products and are also very
motivated. I say half because you will ALWAYS have some people who are
just not having a good day, or aren't good employees. You will always
have people like that no matter where you go to shop.  As for the
ignoring part, i've had customers come up to me and tell me that i'm
the 5th associate to ask them if they needed any help. Now CC is no
where near perfect, and it will take a long time, but I see
improvement and trust me when I say that there will be changes coming
up very fast. I've also heard someone say that cc took away the
commission system? Heh...That's not entirely true. CC still has an
incentive plan and I personally like it a lot more than commission
because it deals more with the department than actually just
individual performance. This just goes to show that CC upper
management hasn't entirely forgotten about their associates.

P.S Charlottesville, VA store was horrendous. It missed sale quotas
every month and that is why it's closing down now. I do feel bad for
the employees but it's not their fault. The management was just not up
to par. At least they have a month or so to find a job before they are
unemployed.

The post is true.  All the reports from the Consumerist, Yahoo
finance, Bloomberg, Market watch, Circuit City press releases, had
already reported the 155 store closings and cutbacks.  NYSE had report
about CC being delisted for non compliance.   When Circuit City fired
the 3500 employees and recent 1800 that made to much, I was there.
There were more employees that actually did a great job than not.  The
rest deserved to be fired.   I work for a contract company that
services all CC infrastructure and worked under CC's STS department.
We were sold to an outsorce company so CC could save money.  Keep
watching the financial sites and you will see all posted is true.
Circuit City pays all the Corp. people bonuses while chopping all the
people that make them money.  Try walking into a CC store and find an
associate to help you.  To put it in simple terms CC took the wheels
off the car and still insist on the car doing 100 MPH.   Even though I
will loose my job when they go under, which they will,  They deserve
it!

Direct from someone I know in the company, the meeting pertained to
how to reassure customers that warranties will still be legitimate
after CC is bankrupt.

If that isn't another nail in the coffin...

here is list of closing stores:
http://files.shareholder.com/downloads/CC/455365235x0x245809/2BFAC9D9...

and warranties are dealth thru a third party company, so all consumers
can be at ease.

They are closing the only Circuit city i got.. haha.. Well there is
another in a mall near by which isn't on that list. I can see y. there
is a bestbuy on the same street here in Chicago. Thanks for that link
man.
Very helpful.

Yeah Im from Chicago to and CC is pretty much done i live in Lincoln
Park. Oh well i always shop at Best Buy as i work at one.