RSSVictims of the Economic Crisis
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el cabal
ATA was a victim of its own ineptitude and the same goes with Circuit City.
Don’t you dare blame the economy on those two. They each SUCKED as companies back in 2001 when the Economy was good.
Niles Lesh
A fool and his money are lucky to get together in the first place !
Rocky Rook
I’m glad Mervyn’s is on that list. I always hated that “open, open, open, open” commercial.
kazanjig
Uh, Sovereign Bank didn’t fail. There were some unfounded concerns about it, but it’s actually very well capitalized… with all my money.
Elagie
I have to second the point that the retailers on the list failed for other reasons than the economy. (I do analysis on the retail world for a living.) In a booming economy even poorly-run operations can succeed and in a bad one they fail — it’s retail Darwinism. The best-equipped and most adaptable survive.
Scott-O
I don’t see the American taxpayer who is funding this mess on the “victim” list anywhere. For $700 Billion we should at least get an also-ran on there.
Sid Morrison
It’s crap to blame the sinking of all these firms on teh credit crunch. Most of them are directly victims of their own incompetence. Have you ever been in a Circuit City, for example? ‘Nuff said.
The managements of every underperforming poorly run company are licking their chops to be able to blame their failures on “the credit crunch”. The same thing happened for 9/11 attacks, Hurricane Katrina, rising fuel prices, &c. It’s a huge copout. If you run a firm, it must be robust to market swings. Take responsibility and stop using these lame excuses to placate shareholders and seek a little free government bailout teat.
Straight talk from Sid.
Sannhp
The retailers may have had poor practices that would have worked had the economy been strong. The economy may not be completely to blame for their downfall, but it sure does get the ball rolling.
Plus we live in a time of excess. America doesn’t need Circuit city, because there are hundreds of other stores who are similar or almost exactly the same. One of them has to fail when times get tough, and I wouldn’t be surprised if more do before all this is over.
DB
I don’t think Aloha Airlines counts–they’ve been struggling since gas prices went up so much and tourism went down (and tourism is integral to Hawaii’s economy). And they went down pretty early this year.
Hazard
ATA sucked so badly- like, broken planes still in service- way before the credit crunch, no wonder they failed.
MENLOHEAVYWEIGHT
victims my a$$ the people losing their jobs across the country because of greedy sh!tty managers is who are the victims of this mess, if any on you want to know why we are in this mess find out more about credit default swaps and you will then understand why we are all bailing out these fat cats. We are the victims of this mess not these companies.
Nathan Miller
As has already been said, too many of these companies are not victims of the credit crunch.
Bombay, for example, liquidated in November 2007, well before many of these other failures.
AndyIII
My family is really in dire straits without a supplier of heated luxury dog houses and full size Spiderman statues. Oh Sharper Image, where have you gone?!
Kathleen
uhhh…you might want to revisit that post Alex. What are you implying by the title of “Victims of the Economic Crisis”. As pointed out above, some caused the crisis, and many of those companies stil exist…AIG still exists, Circuit City still exists. Also pointed out by other commenters…many of them failed due to their own faults. If you’re going to post an image like that, you really need to explain what you’re implying.
cooties
Why isn’t there a ‘Survivors’ list of companies that have existed through every single ‘crisis’ of the past 25, 50 or even 100 years, including this one? We never get stories about companies that change course and procede.
Nick
Several of had failed or were failing well before the current economic crisis. Just off the top of my head, Aloha Airlines, Levitz and Sharper Image filed for bankruptcy in March 2008, December 2007 and February 2008, respectively, well before Wall Street buckled.
Dandy
“victims”!?!?!? My fat fanny!!!
An economy is MADE to be good or bad – it does NOT “just happen”!!!
Remember, money is ONLY backed by the trust that you will be able to exchange this paper for a product, and nothing more.
If you violate that trust by giving it to someone that does not deserve it (can you say “no credit needed, no money down, interest payments only”?) you have just made your money worthless.
Dianne
Not gone but definitely cutting back:Starbucks. (I LOVE their atmosphere but have never cared for their coffee). I miss Bennigan’s hot apple cobbler that they bought to you on a sizzling platter.
Anon
You can chalk up the gaming company I work for too! our investors were invested in by Lehman Brothers. We havn’t been paid in over 7 weeks now and lat-off and people quitting happen every day. Company has gone from 250+ employees to less than half that in 6 mos. Scary stuff!
Broken5hift
The only picture that should be under that header is a picture of an American tax payer
Shannon
I thought all the Levitzes closed a few years ago. I’ve never heard of steak and ale, tweeter and Harolds and I’ve heard of Benagins but I never knew exactly where there was one. I guess its like sonic or Dunkin Donuts I’ve seen the ads but never the actual restaurants.
Dan B.
George W. Bush and his administration really did a number on this country. Criminals, all of them.
You can also blame bin Laden’s financial terrorism for this mess.
Mission accomplished.
becky j
You can add DHL to the list ~ they’re shutting down US operations effective immediately:
Gail Pink
ATA deserved to fail because they were the worst airline, ever!
Katey
Um, Sovereign is still banking. I have an account with them. Two, actually.
Dianne
Also, what’s this I hear about QVC having layoffs? Say it ain’t so!!!!!
Chandrielle
Wow, those are some angry posters.
I just have to say RIP Bennigans. Your chicken club sandwich was so awesome. 
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Becca
tigermachine
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