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Shock: Radio Shack may leave FW!!!!


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#1 jefffwd

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Posted 12 November 2009 - 07:03 AM

Fort Worth-based RadioShack may move headquarters out of town
Posted Wednesday, Nov. 11, 2009

Fort Worth-based Radio-Shack, which has about two years left on a rent-free lease at the riverfront headquarters it built and sold downtown, has reportedly begun looking for a new home, including sites outside the area.

While company and downtown leaders declined to discuss the search, sources say the big consumer-electronics retailer is shopping for at least 250,000 square feet. That could be hard to accommodate in downtown Fort Worth, where occupancy levels are high, but acceptable space could be found elsewhere in North Texas.

The Tampa Bay Business Journal in Florida reported this week that RadioShack was looking at several cities for a corporate relocation. The Journal said the hush-hush search has been dubbed "Project Prince," and developers there were told that 300,000 to 350,000 square feet of Class-A office space is needed.

RadioShack is also considering staying in Fort Worth, where it has been based since it became part of Tandy Corp. in 1963.

It employs about 1,700 people at its headquarters, according to the Fort Worth Chamber of Commerce.

The company declined to talk about its plans. "We do not normally discuss rumors or speculation," RadioShack spokeswoman Wendy Dominguez said.

She noted that the companyís lease on its headquarters runs until 2011, with an option to extend through June 2013. She said no changes to those terms have been made.

Dominguez said there is "nothing new to discuss concerning long-term decisions."

RadioShack sold the campus to a German firm in December 2005. When Tarrant County College bought it in 2008, RadioShack paid $2.25 million of the $238 million price tag. In return, it can remain in two buildings at the campus until 2011 rent-free. After that, it has the option of leasing one building for two more years at market rates.

Itís not unusual for a major corporation to consider many locations during a due diligence process when searching for new space.

Such relocations can take a couple of years to complete.

Job cuts, store closings

RadioShack has already undergone big changes since Julian Day took over as chief executive in 2006. When he arrived, the companyís profits had plummeted and the retailer had announced a plan to close stores. To trim costs, Day laid off 400 headquarters employees and began slashing costs.

Since then, he has made cost controls a mainstay, cutting more headquarters jobs.

The company has remained profitable in the face of the recession, earning $37.4 million in the third quarter as sales slipped less than 1 percent at stores open at least a year, a common measure of a retailerís performance. It launched a marketing campaign built around a new brand identity of "THE SHACK" and signed a sponsorship deal with cyclist Lance Armstrong.

Day has also stockpiled cash. As of Sept. 30, the company had banked more than $850 million.

Finding enough contiguous space for RadioShack in Fort Worth could be a challenge. The downtown office market is historically tight and has a 9.6 percent vacancy rate, the lowest in the Metroplex, according to the latest office survey of real estate firm Marcus & Millichap.

About the only space available is One City Place, one of the two, 20-story office towers that the company vacated several years ago for its riverfront campus.

City Place is the redevelopment of the former Tandy Towers and Fort Worth Outlet Center between Taylor and Throckmorton streets. One City Place, the south tower, has not been touched since Radio-Shack moved to the new campus in March 2005.

Community ties

RadioShack has a long history in Fort Worth.

Charles D. Tandy founded Tandy Corp. in 1960 after taking over the familyís leather business, started in 1919. In 1963, Tandy bought RadioShack, then a chain of nine electronics stores in Boston. It became one of many retail and manufacturing businesses within Tandy Corp., which also owned Pier 1 Imports at one point.

After divesting other pieces of the business over the years, Tandy Corp. changed its name to Radio-Shack Corp. in 2000.

In 2001, RadioShack paid $20 million for the Ripley Arnold public housing complex. The company cleared the land and built a gleaming 900,000-square-foot campus after the City Council approved a 30-year economic development agreement that aimed to make sure that RadioShack would remain in Fort Worth.

The company stood to recoup $66.8 million in the deal. By 2008, it had realized only slightly more than $4 million.


#2 David Love

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Posted 12 November 2009 - 10:28 PM

I think they're just looking for a better deal, it's hard to negotiate with a city if they know you're not going anywhere.

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#3 cbellomy

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Posted 12 November 2009 - 10:59 PM

Julian is looking to sell/merge, not move. Moving is expensive. Closing is much cheaper.

#4 David Love

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Posted 13 November 2009 - 08:12 AM

That's really sad, talk about an end of an era...

Other than the junk I bought from military surplus, Radio Shack TRS was my first real exposure to computers.


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#5 jefffwd

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Posted 13 November 2009 - 09:54 AM

QUOTE (David Love @ Nov 13 2009, 10:12 AM) <{POST_SNAPBACK}>
That's really sad, talk about an end of an era...

Other than the junk I bought from military surplus, Radio Shack TRS was my first real exposure to computers.


I think I have my Realistic tower speakers somewhere... tongue.gif

#6 bailey

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Posted 13 November 2009 - 10:25 AM

QUOTE (jefffwd @ Nov 13 2009, 09:54 AM) <{POST_SNAPBACK}>
QUOTE (David Love @ Nov 13 2009, 10:12 AM) <{POST_SNAPBACK}>
That's really sad, talk about an end of an era...

Other than the junk I bought from military surplus, Radio Shack TRS was my first real exposure to computers.


I think I have my Realistic tower speakers somewhere... tongue.gif


I used to love going through their stores back when I was a kid. They had their warehouse across the street from Montgomery Wards on 7th street in the old auto plant building. I still have my old Realistic 8-track home player-recorder that actually records. It still works after all these years. I figure it will be an antique someday. I think I bought it around 1970 at the store in front of the warehouse.

#7 djold1

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Posted 13 November 2009 - 10:52 AM

QUOTE
That's really sad, talk about an end of an era...

Other than the junk I bought from military surplus, Radio Shack TRS was my first real exposure to computers.



For me the start and end of an era...

I bought one of the first TRS-80 Model I's in August or September of 1977 at the Radio Shack in Riglea. It changed my life. I taught myself to program, then wrote a radio broadcast software application in my garage that in 1980 turned into a nice little digital broadcast business that lasted until 1997.

Most of what I do now on computers and in business is directly related to that moment in 1977 at the 'Shack...

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#8 FortWorthLowrider

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Posted 13 November 2009 - 11:14 AM

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#9 360texas

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Posted 13 November 2009 - 04:24 PM

Same for me.. sort of... 1980 bought a apple ][+. Followed by an IBM sewing machine box, followed by build your own ... several years later gave up building.. now at vista PC ... Its what you create with this business tool is what makes the day to day difference.

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#10 eastfwther

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Posted 13 November 2009 - 04:55 PM

In comparison to similar companies in other cities, including Dallas, RS paid lousy wages and had crappy benefits. I find it odd they think they need more space. I really don't see the company growing much anymore. I think the shrinkage will continue.

#11 djold1

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Posted 13 November 2009 - 05:44 PM

QUOTE
It's what you create with this business tool is what makes the day to day difference.


Correct. Any computer is simply a tool. Like a wrench. A simple tool that depends on the ability & creativeness of the user.

Today all consumer computers use Intel pattern processors. The only true difference is the operating system software.

The TRS-80 used the earliest 8088 & 8086 Intel processors and for their time were an excellent tool. I recently found an original TRS-80 Model I programming guide on eBay and bought it. Looking at it brought back memoreis.

In my opinion, it is still one of the best basic programming guides ever printed and is as useful today as it was then. Radio Shack has done some good stuff..

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#12 tamtagon

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Posted 13 November 2009 - 07:01 PM

QUOTE (cbellomy @ Nov 12 2009, 11:59 PM) <{POST_SNAPBACK}>
Julian is looking to sell/merge, not move. Moving is expensive. Closing is much cheaper.


Maybe they'll merge with Blockbuster. Seems like the movie-to-SD card kiosks Blockbuster has ordered would work pretty good at The Shaq inside a mall.... If Radio Shaq really needs more room, I'm sure there's plenty in the building Blockbuster rents in Dallas.

Didn't Radio Shack get a really good tax break or something from Fort Worth to build the new HQ and then some free rent for a while when they building sold the building?

#13 360texas

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Posted 13 November 2009 - 07:01 PM

djold1. Agreed

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#14 Birdland in Handley

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Posted 14 November 2009 - 02:58 AM

So will the Tandy statue be shipped to where ever?

#15 jefffwd

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Posted 14 November 2009 - 09:55 AM

QUOTE (tamtagon @ Nov 13 2009, 09:01 PM) <{POST_SNAPBACK}>
QUOTE (cbellomy @ Nov 12 2009, 11:59 PM) <{POST_SNAPBACK}>
Julian is looking to sell/merge, not move. Moving is expensive. Closing is much cheaper.


Maybe they'll merge with Blockbuster. Seems like the movie-to-SD card kiosks Blockbuster has ordered would work pretty good at The Shaq inside a mall.... If Radio Shaq really needs more room, I'm sure there's plenty in the building Blockbuster rents in Dallas.

Didn't Radio Shack get a really good tax break or something from Fort Worth to build the new HQ and then some free rent for a while when they building sold the building?


I believe it was abated property taxes for 30 years if they stay in FW and the free rent is through 2011 with the option to renew through 2013 at market rate.

#16 Now in Denton

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Posted 17 November 2009 - 03:08 PM

I bet they will move to Dallas or Plano.

#17 Urbndwlr

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Posted 17 November 2009 - 07:30 PM

QUOTE (Now in Denton @ Nov 17 2009, 05:08 PM) <{POST_SNAPBACK}>
I bet they will move to Dallas or Plano.


Why do you say that?


#18 jefffwd

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Posted 17 November 2009 - 07:35 PM

There is nothing to back that up... biz journals are reporting Charlotte, Nashville, Tampa, Alb but I think that is just a ploy to get FW to pony up more incentives. I don't think RS is dead and I wouldn't be surprised to see them moving back where they started if the other City Place tower is upgraded to class A... The Legacy Tower looks great.

#19 JBB

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Posted 17 November 2009 - 10:34 PM

QUOTE (jefffwd @ Nov 17 2009, 07:35 PM) <{POST_SNAPBACK}>
I don't think RS is dead and I wouldn't be surprised to see them moving back where they started if the other City Place tower is upgraded to class A


I wonder if that idea has ever been brought up before. wink.gif

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#20 eastfwther

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Posted 18 November 2009 - 01:25 PM

QUOTE (Urbndwlr @ Nov 17 2009, 07:30 PM) <{POST_SNAPBACK}>
QUOTE (Now in Denton @ Nov 17 2009, 05:08 PM) <{POST_SNAPBACK}>
I bet they will move to Dallas or Plano.


Why do you say that?



QUOTE (jefffwd @ Nov 17 2009, 07:35 PM) <{POST_SNAPBACK}>
There is nothing to back that up... biz journals are reporting Charlotte, Nashville, Tampa, Alb but I think that is just a ploy to get FW to pony up more incentives. I don't think RS is dead and I wouldn't be surprised to see them moving back where they started if the other City Place tower is upgraded to class A... The Legacy Tower looks great.


Fort Worth doesn't need to give RS any more incentives!!! The city has gotten screwed by RS every since the headquarters (now TCC, nice!!) was built. And I don 't see a move to Dallas or Dallas area that far fetched. Dallas' definitely has the space along with a much more big business climate. & with Dallas' transit system, RS could move to anywhere around DTD, Uptown, Cityplace, Mockingbird Area, Richardson's Telecom Corridor and Plano, and still retain most of it's employees from the FW area. Now if they do move, you can expect another downsizing, so all of the employees won't be going. I just don't see many cities seeing RS as a good catch right now. Anything gained will be temporary. Unless there's a major change in RS's business (and store) model, RS will be downsizing for several more years.

#21 cjyoung

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Posted 18 November 2009 - 02:04 PM

Another reason why we need to get into any and all action when it comes to new development and relocations.

#22 Urbndwlr

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Posted 20 November 2009 - 05:10 PM

QUOTE (eastfwther @ Nov 18 2009, 02:25 PM) <{POST_SNAPBACK}>
QUOTE (Urbndwlr @ Nov 17 2009, 07:30 PM) <{POST_SNAPBACK}>
QUOTE (Now in Denton @ Nov 17 2009, 05:08 PM) <{POST_SNAPBACK}>
I bet they will move to Dallas or Plano.


Why do you say that?



QUOTE (jefffwd @ Nov 17 2009, 07:35 PM) <{POST_SNAPBACK}>
There is nothing to back that up... biz journals are reporting Charlotte, Nashville, Tampa, Alb but I think that is just a ploy to get FW to pony up more incentives. I don't think RS is dead and I wouldn't be surprised to see them moving back where they started if the other City Place tower is upgraded to class A... The Legacy Tower looks great.


Fort Worth doesn't need to give RS any more incentives!!! The city has gotten screwed by RS every since the headquarters (now TCC, nice!!) was built. And I don 't see a move to Dallas or Dallas area that far fetched. Dallas' definitely has the space along with a much more big business climate. & with Dallas' transit system, RS could move to anywhere around DTD, Uptown, Cityplace, Mockingbird Area, Richardson's Telecom Corridor and Plano, and still retain most of it's employees from the FW area. Now if they do move, you can expect another downsizing, so all of the employees won't be going. I just don't see many cities seeing RS as a good catch right now. Anything gained will be temporary. Unless there's a major change in RS's business (and store) model, RS will be downsizing for several more years.


eastftwthr,

I'm not sure what you mean by "big business climate". You mean Dallas County and Collin County have big office parks vs our dense, walkable downtown?

Also, I disagree about your prediction that RS would retain many employees if it moved to Dallas or Collin Counties. Sure, for a few months people would commute, but after a while, most would either relocate or, more likely, look for replacement jobs. Remember the morale at that firm hasn't been high in recent years. I think if you add to their commute from their current, awesome building located right in Downtown on the river, they lose much of that remaining talent.

#23 eastfwther

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Posted 20 November 2009 - 09:02 PM

^^^
Last I checked Dallas was still a major business center, especially compared to FW, surely your're not gonna argue that. All those big office buildings and those sprawling office parks have people working in them. And DTFW is more walkable compared to Dallas, compared to Chicago not so much. Most of FW is every bit as sprawling as Dallas, yet Dallas as a whole is still more dense than FW. I guess what I'm saying is, I don't see the connection between DTFW walkability and density and Dallas' (or Plano, or Las Colinas) bigger business reputations.

You do make a good point about RS's retaining employees though. I can see employees leaving the company in pretty much the fashion you described if RS did move to the Dallas area. But that may not be a concern for RS. In this economy, I'm sure they feel then can replace employess as quickly as they lose them, even with their lousy pay.

It all doesn't matter anyway. I really don't think RS is long for this world no matter where they end up.

#24 jefffwd

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Posted 21 November 2009 - 07:54 AM

Think about it... The Shack is not exactly rolling in the dough. It takes a LOT of $$$ to move a business headquarters to a new city. I just don't think it is going to happen. I think, like any business, The Shack is doing its due diligence before making a final decision because its days at TCC are numbered. Is it time for a developer to step up and build a new skyscraper in downotwn FW? Perhaps. If not, I can see RS moving to Alliance before moving out of town and forcing 1700 people to relocate or find a new job in this economy. I also think that with electronics getting smaller and thinner and RS opeing cell kiosks in Target stores coast to coast that things are only going to get better for the little nine store chain from Boston that could.

#25 Urbndwlr

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Posted 24 November 2009 - 03:57 PM

QUOTE (eastfwther @ Nov 20 2009, 10:02 PM) <{POST_SNAPBACK}>
^^^
Last I checked Dallas was still a major business center, especially compared to FW, surely your're not gonna argue that. All those big office buildings and those sprawling office parks have people working in them. And DTFW is more walkable compared to Dallas, compared to Chicago not so much. Most of FW is every bit as sprawling as Dallas, yet Dallas as a whole is still more dense than FW. I guess what I'm saying is, I don't see the connection between DTFW walkability and density and Dallas' (or Plano, or Las Colinas) bigger business reputations.

You do make a good point about RS's retaining employees though. I can see employees leaving the company in pretty much the fashion you described if RS did move to the Dallas area. But that may not be a concern for RS. In this economy, I'm sure they feel then can replace employess as quickly as they lose them, even with their lousy pay.

It all doesn't matter anyway. I really don't think RS is long for this world no matter where they end up.



eastfwther,

re "big business climate" comment:

What I meant was to highlight that while Dallas County and Collin County do seem to have more large businesses (i.e. big offices, often branch offices) than Fort Worth or Austin, the presence of those larger businesses doesn't mean those counties are better climates for most other large businesses. Certainly Dallas County promoters often cite the "more is more" philosophy when promoting their area. Many other people in places such as Fort Worth and Austin, espouse the "better is more" philosophy. I subscribe to the better is more philosophy, personally, which is one reason I chose to live in Austin, and now, Fort Worth.

#26 eastfwther

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Posted 24 November 2009 - 05:15 PM

QUOTE (Urbndwlr @ Nov 24 2009, 03:57 PM) <{POST_SNAPBACK}>
What I meant was to highlight that while Dallas County and Collin County do seem to have more large businesses (i.e. big offices, often branch offices) than Fort Worth or Austin, the presence of those larger businesses doesn't mean those counties are better climates for most other large businesses. Certainly Dallas County promoters often cite the "more is more" philosophy when promoting their area. Many other people in places such as Fort Worth and Austin, espouse the "better is more" philosophy. I subscribe to the better is more philosophy, personally, which is one reason I chose to live in Austin, and now, Fort Worth.

First of all, Dallas (and maybe Collin) County don't "seem" to have more large businesses than FW (I never mentioned Austin) they do. And once again, I'm not getting your point. Whether FW or Austin have a "better" climate is very subjective, something I try not to even get into. I do know that FW's climate hasn't stopped RS from considering a move to a different city or bought a huge nationally recognized corporation like Comerica or AT&T to downtown in a long long time, regardless of its walkability. Dallas' downtown isn't nearly as walkable as Fort Worth, but that hasn't stopped a slew of large corporate moves to downtown Dallas in the relatively short amount of time I've been working there. There's a climate there that draws large corps to that area, that's all I was saying. Whether that climate is good or bad depends on who you ask, which, IMO, can make for good conversation, but usually a pointless one.

#27 safly

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Posted 04 December 2009 - 06:43 AM

QUOTE (FortWorthLowrider @ Nov 13 2009, 11:14 AM) <{POST_SNAPBACK}>
sad.gif



Turn that frown UPSIDE DOWN FW Lowrider smile.gif

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#28 cberen1

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Posted 04 December 2009 - 12:54 PM

QUOTE (jefffwd @ Nov 21 2009, 09:54 AM) <{POST_SNAPBACK}>
Think about it... The Shack is not exactly rolling in the dough.


Actually RS is generating substantial positive cash flow. They've got about $800 Million in the kitty, have improved shareholders equity by $200 Million in the last three years, and make a couple hundred million per year in profits. Relatively speaking, they are kind of rolling in the dough. smile.gif

So, to refute this comment:

QUOTE
It all doesn't matter anyway. I really don't think RS is long for this world no matter where they end up.


Radio Shack is poised to be around for a long time. Any retailer who has managed to have a consistently improving balance sheet in this economic environment must be doing something right.

The question is, what could possibly be improved by moving to Dallas? Lower rent? (think price / demand curve, why is rent cheaper in Dallas?)

#29 Now in Denton

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Posted 04 December 2009 - 03:17 PM

QUOTE (Urbndwlr @ Nov 20 2009, 05:10 PM) <{POST_SNAPBACK}>
QUOTE (eastfwther @ Nov 18 2009, 02:25 PM) <{POST_SNAPBACK}>
QUOTE (Urbndwlr @ Nov 17 2009, 07:30 PM) <{POST_SNAPBACK}>
QUOTE (Now in Denton @ Nov 17 2009, 05:08 PM) <{POST_SNAPBACK}>
I bet they will move to Dallas or Plano.


Why do you say that?



QUOTE (jefffwd @ Nov 17 2009, 07:35 PM) <{POST_SNAPBACK}>
There is nothing to back that up... biz journals are reporting Charlotte, Nashville, Tampa, Alb but I think that is just a ploy to get FW to pony up more incentives. I don't think RS is dead and I wouldn't be surprised to see them moving back where they started if the other City Place tower is upgraded to class A... The Legacy Tower looks great.


Fort Worth doesn't need to give RS any more incentives!!! The city has gotten screwed by RS every since the headquarters (now TCC, nice!!) was built. And I don 't see a move to Dallas or Dallas area that far fetched. Dallas' definitely has the space along with a much more big business climate. & with Dallas' transit system, RS could move to anywhere around DTD, Uptown, Cityplace, Mockingbird Area, Richardson's Telecom Corridor and Plano, and still retain most of it's employees from the FW area. Now if they do move, you can expect another downsizing, so all of the employees won't be going. I just don't see many cities seeing RS as a good catch right now. Anything gained will be temporary. Unless there's a major change in RS's business (and store) model, RS will be downsizing for several more years.


eastftwthr,

I'm not sure what you mean by "big business climate". You mean Dallas County and Collin County have big office parks vs our dense, walkable downtown?



Look when I said RS might move to Dallas or Plano I didn't WANT RS to move thier. Im just as right or wrong as any of you. A part of me wants them to stay. But another part of me says. Im fed up with thier games and im just sick of dealing with them. Dallas does have a lot of office space. And IMO Dallas is overbuilt. Not as bad a Dubi but still........ Its gonna take a lot of RS type business's to fill up the Dallas office market.

And I DON'T buy this "big business climate" that is in Dallas. That somehow? Is not in Fort Worth? Light rail is good and all for business. But having DFW airport and we in Fort Worth and Dallas being in south central U.S. is a major plus to relocations. But Rail has nothing to do with RS and them being in Fort Worth or not.

After all did't Warren Buffet HIMSELF just do one of the nation biggest deals this year. In a tiny Ashton hotel in Downtown Fort Worth? It did not take place at the Omni or Hilton Or the W in Dallas or at DFW. But in a tiny hotel in good old downtown Fort Worth. That sounds like a "big business climate" Taking place in Fort Worth to me!

#30 jefffwd

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Posted 12 December 2009 - 08:34 AM

Has anyone heard ANYTHING regarding this lately??? dry.gif

#31 txsloth

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Posted 12 December 2009 - 10:33 PM

QUOTE (jefffwd @ Dec 12 2009, 08:34 AM) <{POST_SNAPBACK}>
Has anyone heard ANYTHING regarding this lately??? dry.gif


Just hearsay upon hearsay, but my "source" says that RS employees never felt a move was even remotely likely. They understood talk of moving out of the state to be posturing and no one expects them to leave Tarrant County.

#32 jefffwd

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Posted 14 December 2009 - 10:21 AM

QUOTE (txsloth @ Dec 13 2009, 12:33 AM) <{POST_SNAPBACK}>
QUOTE (jefffwd @ Dec 12 2009, 08:34 AM) <{POST_SNAPBACK}>
Has anyone heard ANYTHING regarding this lately??? dry.gif


Just hearsay upon hearsay, but my "source" says that RS employees never felt a move was even remotely likely. They understood talk of moving out of the state to be posturing and no one expects them to leave Tarrant County.


I think it has been said earlier but they should move back to Tandy Center (now One City Place). There is about 300,000 of contiguous space there and you have Sundance Square close by and employees would not have to relocate. http://www.onecitypl...om/project.html


#33 jefffwd

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Posted 12 March 2010 - 01:16 PM

RadioShack moves to keep headquarters in Fort Worth cool.gif
Posted Thursday, Mar. 11, 2010

By BILL HANNA

billhanna@star-telegram.com

FORT WORTH -- RadioShack, which reportedly was considering moving its headquarters out of the region, is signaling its intention to stay in Fort Worth.

At Thursday night's Tarrant County College board meeting, school administrators announced that the company's lease on the campus it shares with the college had been extended for five years.

But the deal will not be final unless RadioShack obtains some tax incentives, according to a company news release.

"We still need to work out some details concerning tax incentives with both the city of Fort Worth and Tarrant County," James Gooch, RadioShack's executive vice president and chief financial officer, said in the release.

No details were available Thursday night about what incentives RadioShack is seeking, but Gooch called the lease agreement "a significant step toward a final decision on our headquarters location."

RadioShack opened its headquarters west of the Tarrant County Courthouse complex in 2005, but when the company's fortunes plummeted, it sold the campus to a German firm that same year. TCC bought the campus in 2008 with the understanding that RadioShack could remain in the West Fork and Clear Fork buildings until 2011, rent-free.

The lease extension announced Thursday allows the electronics retailer to stay through June 30, 2016.

RadioShack will pay TCC $5.2 million annually for using the two buildings while TCC continues to use about 529,000 square feet in the Trinity, East Fork and Store One buildings.

RadioShack now occupies about 250,000 square feet. Without the lease extension, it could have been leaving as early as June 30.

"Clearly we're excited about RadioShack's decision to stay here," said David Berzina, executive vice president for economic development at the Fort Worth Chamber of Commerce. "We're pleased that a partnership has been forged between the college and RadioShack that allows them to continue to stay here. We look forward to their significant presence in downtown and the overall Fort Worth community."

Although TCC's enrollment continues to rapidly expand, school officials believe that they will not need the additional classroom space in the downtown campus in the next five years.

The current enrollment downtown is 4,797 and is expected to be 10,193 by fall 2015.

"We have agreed to financial terms that work for TCC and RadioShack," Chancellor Erma Johnson Hadley said in a prepared statement. "And while our student enrollment continues to grow, our team is confident we will not need the West Fort or Clear Fork Buildings before the end of the additional five-year term set forth in the lease extension."

Hadley said that the continued relationship with RadioShack will help ensure that jobs stay in Fort Worth and that RadioShack officials have promised to have more interaction with students.

RadioShack has more than 1,000 employees at the downtown campus.

Hadley praised board Vice President Bobby McGee and Nina Petty, TCC's new vice chancellor for real estate and facilities, for helping in the negotiations. Petty is a former RadioShack executive.

The overall vacancy rate of downtown Fort Worth office buildings is about 9 percent, according to the latest Grubb & Ellis market report. The average asking rent for Class A office space, the top of the line, is $27.98 a square foot, the report said.

Board President Louise Appleman said that the announcement will keep one of Fort Worth's institutions in the community and that RadioShack "is a good neighbor and an important part of our city's history."

#34 David Love

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Posted 17 March 2010 - 07:14 PM

Negotiation Tactics...?

QUOTE
RadioShack Corp.'s lease in downtown Fort Worth has been extended by the Tarrant County College District for five years through June 2016
.

http://www.dallasnew...ack.affcf4.html

Better Business Bureau:  A place to find or post valid complaints for auto delerships and maintenance facilities. (New Features) If you have a valid gripe about auto dealerships, this is the place to voice it.


#35 vjackson

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Posted 26 March 2010 - 09:34 AM

Report: RadioShack considering sale, Best Buy merger 10:22 AM CT
10:25 AM CDT on Friday, March 26, 2010

By MARIA HALKIAS / The Dallas Morning News
mhalkias@dallasnews.com

Is the Shack throwing in the towel?

According to a report in the New York Post, Fort Worth-based RadioShack Corp. is considering a possible sale of the company for as much as $3 billion. The newspaper cited unidentified people close to the situation and also said RadioShack is reviewing a merger with Best Buy Co.

ďAs a matter of policy, we do not comment on market rumors,Ē said Wendy Dominguez, RadioShack spokeswoman. Best Buy officials didnít immediately respond to a request for comment.

RadioShack shares have been rising all year and in morning trading hit a new 52-week high of $23.91. The stock price is up more than 70 percent from a year ago as chief executive officer Jim Day has cut costs, added new mobile carriers and new private label merchandise, beefed up marketing and stockpiled cash.

Best Buy has developed its own version of a small, RadioShack-size store and has been rolling them out since last year.

Best Buy Mobile departments have been added inside the big box retailerís stores. Itís also a fast growing, free-standing chain.

Thursday, Best Buy said itís planning to open 75 to 100 small stores, primarily Best Buy Mobile stores, in the U.S. this year.

Last year it opened dozens of the 1,000- to 1,200-square-foot stores in Dallas, Houston, Los Angeles, Miami and Boston. Various incarnations of the stores were in testing for almost three years in six other cities, including New York and Minneapolis, where the No. 1 U.S. consumer electronics chain is headquartered.

It started its mobile phone push by forming a joint venture in 2007 with Britain's Carphone Warehouse, which uses a similar concept. Best Buy acquired a 50 percent stake in the U.K. retailer in 2008.

Thursday, Best Buy reported fiscal fourth-quarter profits increased a better-than-expected 37 percent as strong sales of notebook computers and TVs. Best Buy is gaining market share organically. Itís also benefitted from Circuit City going out of business early last year.

Other options for RadioShack could include a massive share buyback or even a strategic acquisition of its own, funded by its $900 million war chest, a Wall Street banker told the New York Post.

RadioShack has more than 6,000 stores.

Last month, it reported higher sales of cell phones and coverage plans drove fourth-quarter profit up 26 percent. The better-than-expected results included a 4.7 percent increase in revenue to $1.37 billion.

In the fourth quarter, RadioShack added T-Mobile to the list of carriers consumers can pick in its stores, and it also said sales were higher for Sprint Nextel cell plans and for prepaid phones and airtime. It also got a boost from its Mexican division.

Sales at stores open at least a year rose 6 percent during the quarter.

For the year, RadioShack's profit rose 8 percent to $205 million and revenue rose 1 percent to $4.28 billion.

Private equity firms are flush with cash and as retailers recover from the recession with better-than-expected results, speculation about potential deals are accelerating. A few weeks ago, Apollo Management was rumored to be looking at RadioShack, but sources knocked down that rumor.



#36 Austin55

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Posted 06 August 2014 - 09:58 PM

Radioshack's decline is ever persistent.I highly doubt the company will exist by the time the TRV channels are dug. 

 

http://money.cnn.com...ioshack-future/

 

 

 

Shares of RadioShack (RSH) , hit a record low of 62 cents Thursday after Moody's said it expects RadioShack to run out cash by Fall of 2015.


#37 Jeriat

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Posted 06 August 2014 - 11:35 PM

 

Radioshack's decline is ever persistent.I highly doubt the company will exist by the time the TRV channels are dug. 

 

http://money.cnn.com...ioshack-future/

 

 

 

Shares of RadioShack (RSH) , hit a record low of 62 cents Thursday after Moody's said it expects RadioShack to run out cash by Fall of 2015.

 

 

Really hate to see a (legit) company go out of of business. 

All those years and all that work suddenly ending at the snap of a finger... 

But that's just the reality of it. Just like Blockbuster and Barnes & Noble, some products become obsolete, and there's just simply no place for them anymore. Radio Shack isn't too far behind from being on that list.


7fwPZnE.png

 

8643298391_d47584a085_b.jpg


#38 johnfwd

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Posted 07 August 2014 - 06:29 AM

Too bad.  My earliest memories of RadioShack date back to physical audio tape recording tapes, radio and TV accessories, etc., circa 1960s.  Then came their TRS computers, in the 1980s.  Their most recent venture into mobile communications devices is apparently a failure.  I think RadioShack's slow demise is attributable to product obsolescence, but it may also be due to lack of ability to adapt successfully, maybe an executive management problem there.  Apple had to adapt to changing markets, too, when undergoing the transformation from desk-top PCs to notebooks, tablets and the various other mobile devices, but Apple is still a viable concern.


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#39 Doohickie

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Posted 07 August 2014 - 11:17 AM

But that's just the reality of it. Just like Blockbuster and Barnes & Noble, some products become obsolete, and there's just simply no place for them anymore. Radio Shack isn't too far behind from being on that list.


I don't shop at Radio Shack very much, but there are items that they sell that are very hard to find in other places.  For those items they don't seem obsolete to me.


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#40 mmiller2002

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Posted 07 August 2014 - 11:46 AM

I don't want them to fail, but they certainly have not been able get it right for a looong time.  They had the right products categories; phones, computers, portable music, but they just always seemed to miss the mark.  Then the colossal bad decision to build that fancy HQ campus, then file for bankruptcy, or whatever and have to sell it.  Sounds similar to another FW company...Pier1



#41 Jeriat

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Posted 07 August 2014 - 11:25 PM

 

 

I don't shop at Radio Shack very much, but there are items that they sell that are very hard to find in other places.  For those items they don't seem obsolete to me.

 

I believe when the day comes that Radio Shack is no more, other stores will just take said items. 


7fwPZnE.png

 

8643298391_d47584a085_b.jpg


#42 360texas

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Posted 08 August 2014 - 11:56 AM

Actually, I think that RS built their new HQ using a developer... who in turn leased it back to RS.  So they were only leasing the building space.  Then when Tarrant College new campus collapsed TC bought the building and redeveloped the interior design for their own use.. leaving Radio Shack (still leasing the facility) in place for several years.


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#43 JBB

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Posted 08 August 2014 - 12:08 PM

My memory is fuzzy sometimes, but I thought Radio Shack built the campus, sold it to a developer that leased them the space, and the developer sold it to TCC.

#44 360texas

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Posted 08 August 2014 - 12:22 PM

Ah, yes that very well might be true.... end result is they were leasing it from the developer... and TCC bought it.... still leaving RS in a lease agreement with TCC.  And now it does not look good for RS .... who can't sell a building they do not own.

 

I 'd like to see RS merge with another retailer like Best Buy or Fry's.


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#45 Volare

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Posted 08 August 2014 - 01:46 PM

Ever seen the Best Buy Headquarters? I used to live about 2 miles from it. It's a behemoth. Gonna be trouble to find someone to use it once they are gone:

 

best-buy.jpg

 

 

 

There's actually 4 of those massive boat-looking buildings.

 

2e31f08856339cee77324e4d4bcb2d2b.jpg

 

Makes Radio Shack look reasonable by comparison.



#46 Austin55

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Posted 08 August 2014 - 02:26 PM

Best Buy is struggling to no? I'm surprised Fry's isn't. Those guys have their own 747 so I guess not.

#47 JBB

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Posted 08 August 2014 - 02:57 PM

Brick-and-mortar consumer electronics stores are all suffering since it's so easy to buy online or get better deals at retailers like Sam's and Costco. Best Buy looked to be in big trouble not all that long ago, but they seem like they're bouncing back. It's a lot harder to find anything out about Fry's performance since they're privately held, but they don't seem to be in downsizing mode. Fry's has always reminded me of Radio Shack on steroids. My biggest success there was in replacing entertainment center cables a few years ago. We had an open tv stand that didn't do much to hide what was behind it and I replaced our multi-colored array of multi-length cables with black cables that I found at Fry's.

#48 Thurman52

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Posted 08 August 2014 - 06:34 PM

Ah, yes that very well might be true.... end result is they were leasing it from the developer... and TCC bought it.... still leaving RS in a lease agreement with TCC.  And now it does not look good for RS .... who can't sell a building they do not own.
 
I 'd like to see RS merge with another retailer like Best Buy or Fry's.


They built it sold it to a german developer. Needed to downsize lease space so they were looking for subleases no takers. Tcc came looking, rsh bought the building back from the Germans then did quick sale to Tcc

#49 360texas

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Posted 10 August 2014 - 10:51 AM

Thanks for that.  I knew about an European firm.. but did not want to stretch it.  But now that you mention the sequence.. that too reads correct.


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#50 RD Milhollin

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Posted 13 September 2014 - 10:54 AM

Radio Shack announces severe financial troubles, possible bankruptcy:

 

http://www.star-tele...ig-loss-as.html






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