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Economy | Tag Archive | Gear Live

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Video: Why the penny needs to die

Posted by Andru Edwards Categories: Misc. Tech, Videos

You know how you have all those pennies stored away somewhere in a jar, or some sort of awkward spot in your car? Of course you do, because no one wastes their time using pennies to make purchases, unless they're clueless or trying to pull some sort of sick joke. Check out the video above, which explains why the penny needs to be abolished from the United States currency, as it's a burden on the economy.


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Nano Vehicle Released in India

Posted by Sheila Franklin Categories: Transportation

NanoToday is the day that Tata Motors debuts its Nano in Mumbai, India. The starting price of $1999.00 means that it is pretty basic. The car is 10.2 ft. long, has a 623cc rear engine, a very small trunk and only one windshield wiper. Power steering, a radio and air conditioner are optional. The fact that it doesn’t have airbags or antilock brakes tells us that it will undoubtedly not reach the States without some upgrading. Tata Motors has been having financial problems of late so we hope the mini-car can get them out of their difficulties.

Read More | USA Today

Comics and the Economy

Posted by Jonas Hinckley Categories: Editorials, Marvel Comics

one dollar with sunglasses

With all the rumblings about the economy going on recently, I asked a retailer friend the other day how that was affecting his shop. And he gave me the following anecdote, which I’ll paraphrase:

The other day, one of my box customers came into the shop and asked to see his pull list. After crossing off about half the titles on the sheet, he handed it back to me and then asked with a straight face: “So, how’s this economy treating you?”

My friend, good retailer that he is, didn’t actually react as I might have, which probably would have been to leap over the counter and try to strangle the guy.

With maybe the exception of the recent Obama issue of Amazing Spider-Man, which looks to be selling for ridiculous amounts on ebay, it’s tough to see how comics retailers wouldn’t be affected just like everybody else by the economic downturn. But it’s one more reason to support your local comic shops right now to help keep folks in business for the long haul.

While I haven’t cut back much yet, I’m definitely not making as many spur-of-the-moment purchases as I might otherwise do. Of course, it would certainly help if the prices would stop going up.

Read More | Bridge City Comics

TiVo aims to save you some cash with their Netflix offering

Posted by Andru Edwards Categories: Home Entertainment, Movies, Videos

Have you fallen on tough times in this rough economy? Well, if so, wants you to know that they’re here to take care of you, what with their new compatibility and all. You see, all you have to do is stop going to the movies, get yourself a Netflix account, and watch movies from your Netflix Instant Queue instead. Nevermind the fact that Netflix offers mostly just catalogue titles, as opposed to the latest blockbusters. Beggars can’t be choosers, yo.


Office Depot Closing 112 Stores, Cutting 2,200 Jobs

Posted by Patrick Phelps Categories: Corporate News, Misc. Tech

DescriptionIn an attempt to cut their losses, Office Depot’s adopting a familiar strategy; announcing today that they’ll be closing 112 or roughly 9% of their “underperforming” stores, six of their 33 North American distribution facilities and reducing their workforce by 2,200 jobs over the next three months. The plan to close 112 stores will reduce the chain’s brick and mortar stores to 1,163. It plans to close 45 stores in the Central U.S., 40 in the Northeast and Canada, 19 in the West and eight in the South - proof that “Taking Care of Business” is not only a slogan, but a business model…

Read More | Yahoo! Finance

DHL to Discontinue U.S. Domestic Shipping Services

DHL Aircraft ImageDHL, a popular shipping alternative to FedEX, UPS and the U.S. Postal Service announced today in a press release that it will end all domestic shipping services effective January 30, 2009. According to the release, DHL’s U.S. Express business will focus entirely on its international offerings and will discontinue its domestic-only air and ground services, eliminating its U.S. ground hubs, and reducing the number of stations from 412 to 103. This will result in a reduction of 9,500 U.S. jobs at DHL Express on top of the approximately 5,400 positions already reduced since January; retaining 3,000 to 4,000 U.S. Express employees, tailored to the needs of international express customers. This reduction is expected to allow DHL’s U.S. Express business to reduce its operating costs from $5.4 billion to under $1 billion, a decrease of over 80%.

We’re hoping that this loss in competition doesn’t drive up the cost of shipping, seeing as the majority of our gadgets are doorstep-delivered by one of these shipping giants. Cross your fingers.

Read More | DHL via Bloomberg


Circuit City To Sell Off Stores

Posted by Sheila Franklin Categories: Corporate News, Misc. Tech

Circuit CityCircuit City is undergoing the same economic crunch most of us are. They are now thinking about closing at least 150 of their 712 stores. Thousands of jobs will be lost in an effort of the company to hold off Chapter 11 bankruptcy. The Wall St. Journal reports that it is working with an investment bank to help them out before the upcoming holiday season. We expect this will not be the last retailer, electronics or otherwise, to feel the pinch in the weeks to come.

Read More | Wall St. Journal

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