Wednesday, May 7, 2014

Business Wednesday

Money losing Office Depot has announced a plan to close 400 stores.  That's about 25 per cent of what it has.

I admit, I'm a geek, and I used to drive to Allentown to shop at Office Depot.  It had a store in Wilkes-Barre that didn't last long.  Office Depot always seemed to be pricey, but it had the newest stuff first.  Color me disappointed.

In making the closing announcement, Office Depot said consumers are buying their supplies in other places, especially the internet.  I'm not doubting that, but If I'm going to make a major purchase, like a computer, I want to see it in person first.

ABC News is naming its New York headquarters building after the soon to be retired Barbara Walters.  Nice idea.  It took me a while to warm up to her, especially after the Harry Reasoner debacle of 1976.  If you want to see a tense set, go to YouTube, and look up ABC's 1976 election night coverage.  Walters, Reasoner, and Howard K. Smith.  No one looked like they wanted to be there, and the Jimmy Carter victory call was made, it fell to Walters.  ABC News president Roone Arledge was smart enough to let Reasoner go back to CBS.  Walters was relieved of anchor duties.  She was made special correspondent.  Brilliant.  Walters got the big interviews then, and she kept it up for 40 years.

The New York Times reports old fashioned board games are making a comeback, as families try to spend non high tech quality time together.  I'll pass.  I had my fill of those games as a kid.  I do like the concept though.  Anything that promotes family time.

ABC has extended Jimmy Kimmel's contract for another two years.  Funny show.  Stability is always good.  I'm still a Dave guy.

Target's president quit, said to be more fallout from last year's botched credit card data breach.  The company's chief information officer is already out.  I know people who are still wary of shopping at Target.  Understatement of the year:  it will take a long, long time to recover from this one.