From the Dallas Morning News, the story of CompUSA’s failure:
. . . as stores are liquidating and the company is shutting down – most employees’ last day is Friday – several analysts, longtime shoppers and one of the company’s founders all say Dallas-based CompUSA could have done a lot better over the years.
A series of mistakes killed the company, they said. CompUSA once ruled the emerging niche of computing but couldn’t keep up in a changing world wrought by its own products.
In a recent eulogy, Credit Suisse analysts boiled it down to three issues:
•CompUSA needed more stores with higher volumes. But it couldn’t grow because Best Buy and others were adding brands and expanding their categories, reducing customers’ reasons to visit CompUSA.
•Acquisitions diverted attention.
•Money-saving cuts were the last straw.
What the article didn’t mention was that CompUSA never really committed to any one business and ended up doing everything halfway. They sold hardware, but they really wanted to push software training. The hardware they sold was easily available online for less from companies like Newegg. (It was at CompUSA I saw the $100 HDMI cable). They sold DVDs, but the selection wasn’t very deep and never discounted.
They sold games, but they didn’t keep the inventory well maintained and were slow to discount. They would consistently find themselves with a bunch of outdated games that had dropped to lower prices in other stores, but were held out as “closeout” bargains at a higher price point.
They ended up being the “emergency store” I’d go to when I couldn’t find a copy of Pokemon at Target or Best Buy around Chiristmas, because I knew nobody shopped there.
Now I’m hearing that the Plano store will reopen under the management of the same folks who run Tiger Direct. This will be interesting, this is a store that’s less than 2 miles from a Fry’s and a Best Buy, and about 5 miles from the only Micro Center in the Metroplex.
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Courtesy of SFGate.com, how the 2008 tax rebates are going to be paid.
Under HR5140, the Economic Stimulus Act of 2008, most working people will get $600 if they are single or $1,200 if they file a joint return, assuming they paid at least that much in federal income tax in 2007.
To help people who earn little or nothing - and might be more likely to spend their rebates - Congress said that anyone who had at least $3,000 in income from a job, self-employment, Social Security and/or certain veterans benefits would get a flat rebate of $300 if single or $600 if married filing jointly, even if they don’t owe income tax.
If your 2007 federal tax liability is between $300 and $600 (single) or $600 and $1,200 (married), your rebate will be equal to whatever you paid in tax.
Anyone who gets a rebate of any size will get an additional $300 for each child eligible for the child tax credit in 2008. To qualify, the child must be younger than 17 on Dec. 31, 2008.
The rebates - including the $300 rebate for kids - start to shrink when your adjusted gross income hits $75,000 (single) or $150,000 (married). Adjusted gross income includes income from all sources, but before most deductions and exemptions have been subtracted.
The rebate is reduced by $50 for every $1,000 you earn above the income limit. It disappears at some point which varies depending on your family size.
Singles with more than $87,000 in gross income and couples with more than $174,000 get no rebate if they have no children.
Looks like a good motivation to get those 2007 taxes filed instead of taking an extension to file until August.