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Tuesday, September 1, 2020

Business News

A report from Coresight Researsh says 25 per cent of America's malls will close in the next three to five years.  There are about 1,000 malls left in the country.  It's sad for those of us who grew up in the mall era, but times change.

A Pittsburgh newspaper reports a major mall operator is close to filing for bankruptcy protection.  The company doesn't have any properties in our area, but it has two in the York, PA area.  Could there be more dead malls in America's future?

We are several months in to the current situation, and there are still shortages of plenty of products, and that makes me fear for the fragility of the system.

Checking the "futures" has become one of my early morning rituals.

Lord & Taylor is going out of business.  38 stores close.  Thousands lose their jobs.  An American institution disappears.  America no longer loves department stores, at least high end ones.

The Stein Mart chain also closing.  There are no Stein Marts in our area.

Dollar store chains are reporting strong sales and profits.  It's not difficult to understand why.  People are broke.

I really don't care who owns Tik Tok.  No account now.  None on the horizon.  Ever.

Jeff Bezos is worth more than $ 200 billion.  Good for him!  The man created a product and service America wanted.  It's as simple as that.

There have been plenty of news stories lately about chain restaurants closing.  While I don't know anyone in love with a chain restaurant, they do employ a lot of people.  We all hurt when they close.