Yep, theyâre hoping to make a showing during the christmas season, and itâs being brought back by an LLC that has a history of reviving old brands and retro shopping experiences.Â
The big takeaway here is how badly the media covers shit like this because theyâre in a lot of ways beholden to those private equity firms, heck Bain owns Clearchannel/iheartmedia!
When you look at their history though, and see how theyâve closed/ruined everything from KB and ToysâRâUs, as well as Sports Authority and Guitar Center, you find out that those businesses were all turning a pretty good profit before hand and even after... what they couldnât do was pay off the massive debt load the buyouts had stuck them with.Â
The media is quick to blame online stuff, and amazon, and this and that, but amazon only holds less than 10% of the toy market, and isnât a factor in any of these closures... if it wasnât for the debt load by greedy assholes, theyâd still be in business and people would still have those jobs.Â
I believe in a strongly regulated capitalism where money/power does not lead to an asymmetrical imbalance where the rich earn their money on the backs of everyone else. Thats why when unions had a large base and power, wages across the board were up and inequality was down, but they fucked shit up, people got greedy and now weâre back to the pre-great depression days. Letâs be clear, thereâs no reason why manufacturing jobs were such good paying jobs with great benefits, except that the workers demanded it and fought for it. The same has to be true for todays glut of low wage/no benefit service industries.Â