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Introduction – This is a summary of the major retail businesses closing their doors in whole or in part in the USA. The USA will have a very black Christmas. Nothing we heard Obama say would lead us to believe that things will return to prosperity anytime soon, or if at all. Foreclosures are high, 50 million people have no health care insurance, one out of six houses is in foreclosure, credit card debts overdue 90 days or more are at an all time high, and bankruptcies are way up to all time record highs, government spending is soaring and the future for the USA seems to be doom and gloom. When the pensions start defaulting and going bankrupt which has already started then it will be very interesting to watch hopefully from hundreds of miles away from their borders. Many of the companies who are closing stores and operations in the USA are expanding the amount of stores they have in other countries. That tells one something if they care to listen.
Here is a list of the businesses going out of business or closing operations. Remember when 8 jobs are lost it means an additional job will be lost shortly down the road so the snowball effect has yet to kick in. It is going to become a lot worse. Getting a stop then a reversal is going to be very hard. We do include the link to the article so you can actually check up on us and see our sources since this is so frightening. We do strive for accuracy.
USA Retail Stores Closed or Closing in 2008
Circuit City – 155 stores , up to 7,300 jobs
Lane Bryant, Fashion Bug, Catherine’s – 150 stores
Eddie Bauer – 27 stores and more after January
J. Jill/Talbots Women’s store – all stores
Gap – the Forth & Towne chain- owns Old Navy and Banana Republic- closing 85 total stores
http://retail.freedomblogging.com/2008/03/14/gap-inc-closing-85-stores/
Limited Too – Converting to lower priced Justice – closing 26 Limited Too
Levitz- all remaining stores (76)
Zales – 23 in 2008, 105 by July 31
Whitehall – 37 remaining stores
Disney – 100 or the remain 220 stores
Movie Gallery - 400 more stores – announced 520 previously
Pep Boys – 33 stores, l 860 jobs
Sprint/Nextel – 125 stores, 4000 jobs
JCPenney – 75 stores, 4,900 jobs
Wilsons the Leather Experts – 160 stores, 1000 jobs
Shaper Image – remaining 86 store
Obama Economics - A policy of increased taxes, regulation and cracking down on people to make sure taxes are paid especially from offshore investments is not an answer. These are policies that will destroy more small businesses and scare more and more people away from the USA. Has anyone ever heard Obama talk about doing anything sane to help the small and mid-sized business. No! Government regulation and taxes is what killed these businesses and drove them out of the USA. Setting the USA as a police state did not help any either. So we hear about new and different regulations and more taxation. Doom and Gloom.
Time to Leave in Whole or Monetarily Only? - Those who get out first get out with the most. Things are fine in Central America. Lost of work, booming businesses, the malls are packed – very hard to get a parking space and people are carrying bags and packages. in the malls. Get your assets out now is the advice before any new legislation will prevent you from doing so. You will be grandfathered in. Get your second citizenship and passport now before they prevent you from doing so. You can even get a second citizenship with a name change now without breaking any laws as far as we know, and without telling your home country what your new name is. This comes in handy for banking anywhere in the world. If you cannot leave at least get your money out now while you can. Open an offshore account and spread your money into several different currencies, buy real estate, invest in stocks and bonds around the world. Diversification is the key to asset protection.
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*Offshore Legal Associates Law Firm.We have no legal ties or associations with any other law firm or corporation with similar or like sounding names anywhere and should not be so confused with any other entity having a similar or like sounding name.