DHL shutting down US delivery

[disneysteve]

Wow! I just found out at work, and confirmed online, that DHL is ceasing their US delivery operations due to the economy. We use DHL regularly, pretty much daily, for shipping lab specimens from our drug testing business. We used to use Airborne Express which was then taken over by DHL. My receptionist just called to schedule a pick-up and got a recorded message saying they were no longer providing US service.

Also, Circuit City filed for bankruptcy today, though I think that one was long overdue. I never liked them and I don't think they could ever compete with Best Buy. Plus, for most stuff they sell, the internet is way cheaper anyway.

ETA: DHL is still working but according to the online article I read, will stop by January 30th.

[Broken Arrow]

Wow. They stopped accepting domestic and ground shipments effective... today! That IS something!

Yes, I completely agree that Circuit City's folding was long overdue. I know some speculators have lost money on that one, thinking that the stock price at the time was so low that it couldn't possibly get any lower. For the life of me, I don't understand why they believed that, but this is a perfect example of how there is indeed no such thing as "can't go any lower". Without some kind of upside, it can always go lower.

[sweeps]

In related news...
AIG gets $150 billion government bailout; posts huge loss - Yahoo! News
GM to cut production, idle 5,500 hourly employees - Yahoo! News
GM shares plunge after analyst sees them hitting zero - Yahoo! News
Fannie Mae posts $29B loss, may tap gov't funding - Yahoo! News
Jobless rate bolts to 14-year high of 6.5 percent - Yahoo! News

[smallsleek]

Yeah, I saw DHL closure on the news. I was shocked. So during business in America is not that profitable. hmm..........

[Pitman]

Also, Circuit City filed for bankruptcy today, though I think that one was long overdue. I never liked them and I don't think they could ever compete with Best Buy. Plus, for most stuff they sell, the internet is way cheaper anyway.

155 Stores to be exact. I do agree with you, I never liked Circuit City, I'd rather go to Radio Shack for electronics than spend money at Circuit City. Crazy thng is, no more than a month a go, they opened a huge Circuit City store not far from my home, and that store is one of many CC going under.

[Broken Arrow]

Well, to be exact, CC first planned to close 155 stores that were not being profitable.

Now, they have also filed for chapter 11, so they can seek protection from creditors during this re-organization and attempt to sustain their business.

So, technically, CC isn't completely folded yet. If it all works out in their favor, they will still be around, but just in a much smaller form....

[disneysteve]

Circuit City recently opened a new store in my area and there is another one nearing completion. I saw the map of store closings and none are in the northeast anywhere near here.

As I've posted a number of times, the recession really hasn't hit around here. Stores and restaurants are opening all the time and are packed. The only local evidence is the decreased revenue reports that keep coming out of Atlantic City. Gaming revenue is off all over the country as people cut back on discretionary spending and travel.

[aukxsona]

Your lucky, it's hitting hard here. A local bank is no longer FDIC insured, and the foreclosure list at this bank is long. No one is hiring. My husband even lost his job making bread! It's crazy.

I am still working off the internet, and yes sales are down, but it's not as bad as if it were a local business.

[KatieNK]

How can you tell which CC is closing?

[sweeps]

How can you tell which CC is closing?

The Associated Press: List of Circuit City stores closing