HellRell804
Banned
So what happens when the market adjusts, more people go to school, and your 100k a year job turns into a 40k a year job because of saturation of the labor market?
Retailers are filing for bankruptcy at a staggering rate — and these 19 companies could be the next
- Thread starter Doobie Doo
- Start date
So what happens when the market adjusts, more people go to school, and your 100k a year job turns into a 40k a year job because of saturation of the labor market?
Yeah Payless needs to change their name.
UpAndComing
Veteran
David_TheMan
Banned
If you had a career you would know, no one with sense gets a job and just stops training an developing. You constantly develop your skill and expertise, so that you have an edge on new entrants into the market, plus you look at where your career is heading. Thats off GP. In my field I'm currently getting ready for my CISSP to go along with the CASP to increase my marketability, so I can command higher pay at my current position or move on to another one.
33k isn't even 1 percent of the workers in the US. These folks if they are good will find jobs in other retail positions or go to different fields.
Even people with shyt aren't looking forward to a good and pleasant future if a shyt ton of the population is out of work and starving dude.
If they are starving its their own damn fault
These companies have engineering, design, marketing, and various other white collar professionals that are all out of jobs too you dumb ass.
The skilled professionals aren't scared or stressing, they most likely already knew what time it was and already have made plans, if they are smart. If they weren't well thats their problem.
Sound like a true Republican. I wish those tens of millions of people unemployed due to automation, just broke into your house and robbed you. Basic Income....or the goons start to rob people.
I'm going to feast at the J Crew Outlet
David_TheMan
Banned
Not a republican.Sound like a true Republican. I wish those tens of millions of people unemployed due to automation, just broke into your house and robbed you. Basic Income....or the goons start to rob people.
10s of millions of people won't be unemployed due to automation. Most will have a job loss and move into other fields.
The funny thing is rising the cost of hiring low skilled labor or in general any human labor made it cost effective to push for automation in the first place.
You bleeding heart anti-business liberal c00ns, brought this on yourself.
UpAndComing
Veteran
These are all specialty niche stores.
The Internet has made the need for a B&M storefront for these types redundant.
In the past simply filling a certain niche was good enough to start and sustain a B&M business. Not so much anymore.
The Internet has made the need for a B&M storefront for these types redundant.
In the past simply filling a certain niche was good enough to start and sustain a B&M business. Not so much anymore.
FreddyCalhoun
All Star
Retailers are filing for bankruptcy at a staggering rate — and these 19 companies could be the next to default
Hayley Peterson
Mar. 17, 2018, 8:51 AM
52,547
FACEBOOKLINKEDINTWITTEREMAILCOPY LINK
Retail defaults and liquidations could exceed last year's record levels.
AP
- Retail defaults and liquidations could exceed last year's record levels, according to S&P Global Ratings.
- Sears, J.Crew, and Neiman Marcus are among the companies that could be next to default.
Retail bankruptcies and defaults hit a peak last year, soaring past records set during the recession, and things could get even worse this year, according to the credit-ratings agency S&P Global Ratings.
"We believe defaults in 2018 could match or exceed last year's record level," S&P Global Ratings analyst Robert Shulz wrote in a recent report that identified 20 retailers at risk of defaulting.
The pace of retail liquidations could also pick up this year, he wrote.
"Despite store closures amid the turmoil, the US remains significantly oversaturated with retail stores," he wrote. "Some retailers have made progress towards better aligning their physical footprint to the new reality of physical versus virtual sales, but there is still excess capacity."
Toys R Us will likely become the first retailer to liquidate in 2018. The company filed a motion to liquidate its business on Thursday, meaning it will close or sell its remaining 735 US stores.
Among the bankruptcies so far this year are Bon-Ton Stores, which filed in February, and Bi-Lo, which owns the grocery store chains Winn-Dixie and Tops Friendly Markets.
The girls' jewelry and accessory chain Claire's is reportedly preparing to declare bankruptcy soon as well.
S&P Global Markets has identified the 19 retailers that are most at risk of defaulting next.
Here's the full list.
http://www.businessinsider.com/retail-bankruptcies-expected-this-year-2018-3
- 99 Cents Only Stores LLC
- Bluestem Brands, Inc.
- Everest Holdings, LLC
- FULLBEAUTY Brands Holdings Corp.
- J.Crew Group, Inc.
- New Academy Holding Co. LLC
- PetSmart Inc.
- Steak 'n Shake Inc.
- SSH Holdings
- David's Bridal, Inc.
- Neiman Marcus Group
- Evergreen AcqCo 1 LP
- HT Intermediate Holdings Corp.
- Payless
- BKH
- The Fresh Market
- Guitar Center
- Claire's Stores, Inc.
- Sears Holdings
Not the 99 cent store....
Contrefaire
Superstar
- 99 Cents Only Stores LLC
If 99 Cents stores go bust then this HAS to be the work of some shady venture capitalists taking out loans on the company or some shyt, because their stores stay packed in every location I've been in, in different states. Ain't no way.
HellRell804
Banned
I feel you and I congratulate you on your professional development, but do you honestly think companies are going to pay top dollar for your "experience " when they can hire 2 or 3 people willing to do your job for the same money. Tech advances more rapidly than any other field.
The new skills you pick up today will be taught as a standard part of the ba curriculum in a year or 2, and by 3-5 years someone with an assopiates degree will be required to have your skill set.
To help my point, the last time the labor market saw a massive influx of labor was the late 60s to 70s when women started entering the work force in numbers. Now look at the wage increase since then.
If you increase the competition for an occupation but the number of actual jobs doesn't increase, you're setting the stage for perpetually stagnant or falling wages.
No, Basic Income is like Social Security where everyone gets a check for their expenses for the month, regardless of income,from their profession.
More jobs are disappearing than new technology can ever create. Why make hundreds of millions of Americans starve to death cause they dont have Tony Stark guru level of knowledge or a PhD?
David_TheMan
Banned
They can't hire people off the street who can just do my job, that is what you have to understand.I feel you and I congratulate you on your professional development, but do you honestly think companies are going to pay top dollar for your "experience " when they can hire 2 or 3 people willing to do your job for the same money. Tech advances more rapidly than any other field.
The new skills you pick up today will be taught as a standard part of the ba curriculum in a year or 2, and by 3-5 years someone with an assopiates degree will be required to have your skill set.
To help my point, the last time the labor market saw a massive influx of labor was the late 60s to 70s when women started entering the work force in numbers. Now look at the wage increase since then.
If you increase the competition for an occupation but the number of actual jobs doesn't increase, you're setting the stage for perpetually stagnant or falling wages.
Get in a field that is in demand, develop marketable skills and establish experience that you can't just get, and you have yourself on the path.
The skills I have today don't come from undergrad either, they are specialist skills you pick up in the field.
4 year degrees are poor investments unless you are already on a track or going into specific fields. So start reading more on professional development.
Hourly compensation as a national average means very little to me, because there are more lower skilled workers deflating the average.
My career field personally is a heavy growth field with salary averages on a 10 year rise.
David_TheMan
Banned
WTF does your first sentence mean?
I never said anything about basic income
Nope more jobs aren't disappearing than new technology creates, the technology itself creates new fields.
100s of millions of americans wont starve to death. You are repeating disproven luddite shyt. Hell I just read an article with someone using the same reasoning you are using to ban the sewing machine in the 1500s.
Stephen Hawking's Final Warning: Why His Worries Were Unwarranted | Barry Brownstein