125 replies to this topic

[Austin55]

The decline continues

 

http://www.star-tele...cle6611880.html

[John S.]

Sad indeed but not unexpected..RS has been trying to find a profitable market niche for years but has been facing stiff competition from retailers like Best Buy and online retailers like Amazon. As I mentioned in another post, the decline in oil prices also hits home locally as the S-T headlines underscore: "Slumberger lays off 9,000 workers" and "Low oil prices could bring office vacancies and job losses in Tarrant County"  It was noted also that Sprint was in negotiations with RS regarding some of their assets. Hopefully, lower oil prices will lead to greater economic activity in sectors like airlines, shipping, and trucking, which benefit when fuel prices are lower.  At least to some extent, lower gas prices make commuting more affordable, thus also makes living out in the suburbs cheaper in the area of fuel costs for commuting. When its all said and done, we are probably looking at slower economic growth locally for the next year or two especially if Radio Shack's assets are sold off and the venerable local firm ceases to exist.

[David Love]

The energy sector in Texas only has about 3% of the workforce here, even if they were decimated by half, not likely, that would be 1.5%.

 

I see the money being put directly back into people's pockets, where it should be, instead of Wall Street and will more than compensate for a down tick in the oil industry.

 

The downside, a LOT more traffic!

[Fort Worthology]

Ouch - RadioShack in Talks to Sell Half Its Stores to Sprint, Shutter the Rest:

 

http://www.bloomberg...-of-sprint-deal

[John T Roberts]

I heard that at lunch on the radio.

[Austin55]

NYSE suspends trading.

http://money.cnn.com...nded/index.html

[Jeriat]

So when does the funeral start...? 

 

 

Hate to see this for any company, but especially for ours since there aren't that many big name corporations here. 

[Austin55]

They've filed.

[Dismuke]

Good article in the Star-Telegram about how the company's fortunes began to tank almost immediately after it spent all that money on lavish headquarters they were forced to sell and downsize in only months later.

 

http://www.star-tele...cle9376199.html

 

I remember thinking at the time that it was very extravagant - that it was something more to feed the egos of those who ran the company rather than to grow the company.  Impressive headquarter buildings make sense for certain industries where it is necessary to project a certain image or prestige.   But Radio Shack?  Most of its customers outside of Fort Worth would never even have any idea what its headquarters is like - and I seriously doubt any of them would care whether the company was headquartered in an impressive office complex or in ugly abandoned shopping mall.   Perhaps if they had spent that money instead on the retail stores or on developing a new business strategy the story today would be less sad.

[gdvanc]

Saving the money spent on the HQ would have bought them a few more quarters, but I'm not sure they were close enough to having an idea how to turn things around for that to have done anything but prolong the inevitable. Really they were already struggling before they started building their new campus. Their stock price peaked around mid-1999 at close to $90/share and then fluctuated wildly for a while; by March 2001 they dropped below $40/share and never made it back to that level. 2001 is the year they bought the Ripley Arnold property and I think by then they clearly had other things to worry about than their corporate digs.

[Fort Worthology]

RadioShack is a classic example of a company that got disrupted by new technologies and competitors and couldn't evolve with the times.  I can't say I'm all that surprised by all this news.

[JBB]

Radio Shack has been circling the drain for all of my adult life. The only surprise for me is that it took this long to finally play out.

[renamerusk]

Radio Shack has been circling the drain for all of my adult life. The only surprise for me is that it took this long to finally play out.

 

I am not willing to be as harsh towards RS.  Technology has and will continue to collect scalps; remember Circuit City?  Once incredibly stalwart brands like Dell, Sony, Compaq, cable are being redefined or made to be irrelevant by the invention of the hand held smart phone device.  With the smart watch, Swatch, Rolex and Timex will be facing similar forces for which RS could not control.

[JBB]

I don't know what's harsh about that. Radio Shack has been in some kind of financial danger for the most of the last 20 years. They've managed to slightly adapt and string things along over the years and I'm surprised it took this long to catch up with them. A lot of people were ready to bury them when they went through the mess with the resume-stretching CEO a few years ago.

[Austin55]

Speaking of harsh (but humorous)

 

Timeline: The Collapse of Radioshack (The Onion)

[JBB]

"2005: Corporation celebrates one-millionth customer walking in, scoffing at cost, and walking out empty-handed"

LOL. That describes my last trip to a Radio Shack. Just before Christmas 2008, my cell phone took a trip through the washing machine and I quickly picked up a barely used Motorola Razr from a co-worker. The only problem was he had misplaced the charger. On a whim, I ran into a Radio Shack store thinking they might have a generic charger that would work. They did, but it was priced around $50. I walked next door to Wal Mart and picked up an almost identical charger for $15.

[renamerusk]

"I have heard about people who love funerals". 

 

BTW, Walmart has trounced a lot of it competition, including Mom & Pop stores. 

 

Perhaps it is the break neck speed of technology; personally I know I have a difficult time keeping up with the latest digital gadgets. 

 

"Uber anybody?"

[360texas]

I attribute RS issues with their buyers and apparently their managers were not  knowledge sensitive enough to keep their stock up to date with current state of electronics.  

 

December 2014 I went in to buy a new USB 3.0 thumb drive and only found that they stocked in store USB 2.0... and the USB 2.0's were not even on sale yet.  No I did not buy a USB 2.0 thumb drive.

 

 

Found this :  http://en.wikipedia.org/wiki/USB 

"USB 3.0 standard was released in November 2008, defining a new SuperSpeed mode. A USB 3.0 port, usually colored blue, is backward compatible with USB 2.0 devices and cables."

[Dylan]

The last time I went to RadioShack for a phone cover, they didn't have one for my phone. I ended up going to a mall kiosk.

My most recent purcase was a $25 tablet cover a year ago. It was one of the few tablet covers not priced $80-$110.

[Dismuke]

Radio Shack has been circling the drain for all of my adult life. The only surprise for me is that it took this long to finally play out.

 

Indeed.

 

Back in the day its predecessor company, Tandy was huge - a classic old time conglomerate when such companies were considered the latest and greatest thing.  They ran all sorts of businesses from manufacturing to retail.  A couple of the retail ones I remember were Wolfe Nursery and ColorTile and they even owned Pier One for awhile.  When Tandy eventually split up the portion that is now RadioShack became one of the biggest manufacturers and sellers of early personal computers.  Then they got out of that.  Then they had a chain called ComputerCity - where I bought my first Windows PC.  Then they got out of that.  Then they had a chain called Incredible Universe - giant electronic stores that, at the time, were quite impressive.  Then that went away.  It is like the company thew all sorts of stuff up against the wall and none of it really stuck for very long.  But they always had RadioShack to fall back on.  Then all they had was RadioShack.  And when RadioShack itself got into trouble - well, there was nothing else to fall back on.

 

It is a testament to just what a great concept RadioShack once was that it managed to survive for as long as it has on past momentum.

[Dismuke]

On a happier and nostalgic note - there is a really cool website that features an archive of old RadioShack catalogs going back to 1939.   And, as fast as electronics technology has changed in the recent past, it is amazing how even how ones from as recently as 15 years ago feature items that, by now, are all but obsolete.

 

http://www.radioshac..._directory.html

[renamerusk]

It is a testament to just what a great concept RadioShack once was that it managed to survive for as long as it has on past momentum.

 

Yes - agreed.

 

To all you Radio Shack People: "Hoping the best for you. Maybe Sprint will find it in their interest to find a place for you."

 

Keep Fort Worth folksy

[John T Roberts]

The Fort Worth Star-Telegram is reporting that the Sundance Square concept store closed on Friday, which was two weeks ahead of schedule.  The signs have been removed and the windows covered.

[dangr.dave]

Did I read the other day that RS was trying to get approval to pay millions in bonuses to the top brass, while trying to get out of honoring any retirement-related benefits to employees?  I might have just dreamed that.  It is Monday.

[mmmdan]

You did read that correctly.  The bonuses are needed to keep the right executives around during the bankruptcy.  Apparently these execs. are the only ones that handle it properly.

 

Can't remember the details exactly, but I don't think they were trying to get out of retirement benefits, it was the severance package.  Instead of giving the people a lump sum, they told them they would give them payments.  A week or 2 later with the co. in bankruptcy, the people with the severance packages are now debtors and it is unclear if they will be paid.

[Austin55]

The Verge RadioShack is selling tens of millions of email and home addresses

[BlueMound]

Radio Shack hires actor/rapper as Chief Creative Officer
http://arstechnica.c...-cannon-as-cco/

[Jeriat]

Radio Shack hires actor/rapper as Chief Creative Officer
http://arstechnica.c...-cannon-as-cco/

 

"actor/rapper"

Nick Cannon barely qualifies as either... 

[JBB]

Well, it might be a good fit. Radio Shack barely qualifies as a company.

[Jeriat]

No hate for this dude. He did get Mariah Carey, after all.

But this is just... random. The hell's he up to? 

[jsfslls]

This is the funniest thing I have read all day.

[jsfslls]

But hey, this brings some celebrity, national attention to Fort Worth. A kind of different, younger national attention as well.

 

And I might get to see Nick Cannon walking around Sundance Square one day....that's cool...I think...

[JBB]

This is a marketing deal. He's going to be appearing in ads, not working out of an office on Belknap.

Edit: So about 30 seconds after typing that, I found this quote in a USA Today article: "Cannon will have an office at RadioShack's headquarters in Fort Worth, Texas and plans to be there 'as much as I possibly can.'"

Mmkay. This reminds me of when I went car shopping at Troy Aikman Toyota back in the mid-90's. The salesperson made a concerted effort to walk us by a closet door in the showroom with a nice brass nameplate on it and let us know, "That's Troy's office."

[Austin55]

 

RadioShack warns it could be lights out in Fort Worth by late May

[JBB]

It's been a long, slow circle of the drain for Radio Shack. Sounds like this might really be the end.

[John T Roberts]

​Maybe we could hold a memorial service for RadioShack and Sears.

[Dylan]

I'm surprised to hear that there are still standalone RadioShack stores left.

 

Every (former) RadioShack store I'm aware of is closed.

[JBB]

Back when their campus construction appeared to be a kickoff of sorts to what became TRV/Panther Island, I don't think any of us thought that Radio Shack would meet its end long before the Trinity project would be complete.

[bclaridge]

If RadioShack does close its corporate headquarters then Tarrant County College would probably just take over the rest of the complex.

[Jeriat]

If RadioShack does close its corporate headquarters then Tarrant County College would probably just take over the rest of the complex.

Which could mean that whatever is in the May Owen Center can pack up and move in... which would quickly open up that space for the Omni.

[bgh01]

 

If RadioShack does close its corporate headquarters then Tarrant County College would probably just take over the rest of the complex.

Which could mean that whatever is in the May Owen Center can pack up and move in... which would quickly open up that space for the Omni.

 

Won't happen. TCC supposedly has a critical shortage of space (at least that is what it tells the employees).

[jefffwd]

​Maybe we could hold a memorial service for RadioShack and Sears.

...and JCPenney and macy*s and The Limited and Wet Seal and Abercrombie & Fitch etc  :-(

[JBB]

If RadioShack does close its corporate headquarters then Tarrant County College would probably just take over the rest of the complex.

I think that's always been the plan for when RS's lease on their space runs out next year.

[Austin55]

I didn't realize the lease expires next year. Probably convenient timing... RS still has the two westernmost "towers", which is a decent chunk of space. Even if the May Owen center remains, more classrooms in the building do seem like a good thing for a lot of students/faculty.

[Jeriat]

If RadioShack does close its corporate headquarters then Tarrant County College would probably just take over the rest of the complex.

Which could mean that whatever is in the May Owen Center can pack up and move in... which would quickly open up that space for the Omni.

Won't happen. TCC supposedly has a critical shortage of space (at least that is what it tells the employees).

...huh?

[JBB]

I didn't either, but I found this in a February 2015 article last night:

"Tarrant County College District now owns the property and will likely take over the space when RadioShack moves out, converting it to classrooms and offices. RadioShack’s lease is set to expire in 2018."

Read more here: http://www.star-tele...l#storylink=cpy

[jefffwd]

I think it is time to say adios to RadioShack...  They have not been relevant in many years.  Don't get me wrong, I have purchased numerous things at RS (turntables, cassette players, tower speakers, wire, batteries).  But you can get all that stuff at Best Buy and Walmart for less.  RIP RadioShack.

[bgh01]

I didn't realize the lease expires next year. Probably convenient timing... RS still has the two westernmost "towers", which is a decent chunk of space. Even if the May Owen center remains, more classrooms in the building do seem like a good thing for a lot of students/faculty.

Radio Shack only has one of the towers now. They cleared out of the other after the last bankruptcy. Since that time, the building has been under construction for offices and classrooms.

[Austin55]

Ah tanks, I haven't been on campus since then.

[bgh01]

 

 

 

If RadioShack does close its corporate headquarters then Tarrant County College would probably just take over the rest of the complex.

Which could mean that whatever is in the May Owen Center can pack up and move in... which would quickly open up that space for the Omni.

Won't happen. TCC supposedly has a critical shortage of space (at least that is what it tells the employees).

...huh?

 

Back in 2014, the district moved about 150 employees from Trinity River up to Alliance Airport due to what they called "a critical shortage of space". So bclaridge is correct that TCC will probably just take over the campus.

 

However, I doubt they will leave the MOC. At the April 16, 2015 board meeting they authorized the chancellor to develop a "request for interest, use, development, or lease" for the MOC (the video is still available on the TCC website in the board meeting archives - it was one of the items mentioned after they came out of closed session). It was never publicly mentioned again, so I assume nothing ever came of it. If they wanted to get rid of the MOC, they probably would have by now.