Ain’t capitalism grand?

Best Buy shuttering many of its “big box” stores, rethinking business strategy as customers flock to Amazon. And one day it will be Amazon’s turn, but that’s how the market is supposed to work. When the Big Box stores were gobbling up the retail landscape there were cries for government intervention, cries that were heard in NYC, Chicago and probably San Francisco, but now they’re mostly gone – the consumer will speak.

When I was a mere lad, the big concern was conglomerates. I remember a cover story in Newsweek on the subject in which they went on and on about ITT owning Scotts Lawn Care and rental car agencies and warned that within a few years, probably around the same time as the arrival of that ice age they were so worked up about back then, a few conglomerates would own the world. Turned out, conglomerates weren’t very good at running multiple businesses, the companies were split up and the economy went on. We’ll survive the demise of the Big Box, too.

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8 responses to “Ain’t capitalism grand?

  1. The Word

    Worth noting, CF, is that as Best Buy is dying it’s reaching out – where else? – to the gummint for salvation. Best Buy is desperately seeking to fast track legislation in the states in which it has stores which would impose state sales tax on Internet purchases. This, of course, is aimed squarely at Amazon. Failing private business + failing state governments = prosperity? I think not. Maybe Best Buy should start making cars, or solar panels, so they can get Obummer to bail them out.

  2. FJK

    Pretty Much on the money… I remember old Harold Geneen of ITT, actually, he was a smart guy,I enjoyed reading his life’s story- and in some ways he was successful, but in the end, you are correct – hard to manage multiple businesses in multiple industries successfully for a long period of time.. Best Buy has been getting crushed for years, almost nobody goes to them for appliances, – now that Lowes and Depot offer them, electronics – Amazon- and music – Apple, Pandora, etc..

    They also occupy the highest rent locations – real estate is killing them. Should be interesting seeing them scale back to compete with Radio Shack.

  3. Reader

    RIP Border’s, Circuit City, Linens N Things. Bye Bye Sears, K-Mart, Barnes and Nobles, and Best Buy.

  4. Cobra

    And, speaking about bricks and mortar retail outlets, Hiller Sports of Norwalk has recently opened a second store at the former Forest & Field/Scott Moss Shooting Sports on New Canaan Ave, also in Norwalk. The range is not open as yet but, when it is, firing all arms including shotguns and rifles (allegedly up to .50 cal.) will be allowed as the backstop will no longer be constructed of steel plates but, instead, recycled/shredded tires. Firearms and all sorts of archery/hunting merchandise are now offered. Let’s hope Hiller Sports at this location lasts longer than the building’s most recent, post-Moss reincarnation.

  5. Peg

    May the best companies win.

    As it should be. Survival of the fittest – and of those best able to adapt.

    How come liberals say they believe in science – yet when push comes to shove, they really want to shove science by the wayside?

  6. Just_looking

    Best buy had become a show room for the online retailers, but they could not charge for the experience. Especially with iPhone, price comps can be done on the spot against anyone, putting best buy at a serious disadvantage against anyone not paying the extra overhead.

  7. Anonymous

    developers built all these big box locations garnering 20 year or more reduced taxes from the states and local govt where they were built. mortgaged them to the hilt. the expansion is over, now its time to pay the piper.

    The big box store all sell imported crap. expensive garbage. were not going to taske it anymore. but its not like we have a choice. unless we spend hours on the computer reasearching.

    anybody notice that although you havent gained weight that newly purchased clothes and shoes, that were once your size, seem to be getting smaller or tighter.?

  8. Just_looking

    It’s not the items, it’s you.