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| Economy |
| Radio Shack looking for a buyer? |
| 2010-03-27 |
| We could be close to witnessing the end of yet another consumer electronics chain. According to what sources have told the New York Post, Radio Shack is "exploring strategic alternatives," or shopping itself around. It's very early in the process, and the retailer is still mulling its options. Investment bankers have been looking to gauge the interest of private-equity firms in buying out the Texas-based chain, but merging with Best Buy is also an idea being tossed around, at least by the bankers involved, according to the Post. A Radio Shack representative said Friday the company does not comment on rumors as a matter of policy. Radio Shack is also sitting on $900 million in cash. That means the company can buy back a lot of its outstanding shares, or even buy another company itself. So while Radio Shack isn't struggling to pay its creditors the way Circuit City and CompUSA were before they closed, it is looking for more opportunities to grow its business beyond simply cutting costs, laying employees off, and building more stores. It could also follow in the footsteps of both Circuit City and CompUSA, which were sold to online electronics retailers that have attempted to revive the brands by focusing less on brick-and-mortar gadget sales and more on Internet-based sales. The Post's sources believe that if Radio Shack did put itself on the auction block, it could bring in more than $3 billion. |
| Posted by:Fred |
| #12 My comments were for cash payments. I understand the gas pump thing for credit cards. That makes sense. I think Lowe's asks for a phone number even for cash payments - supposedly so you can return something without a receipt. |
| Posted by: Rambler in Virginia 2010-03-27 19:10 |
| #11 lotp, as I understand it some smartypants figured a way to 'lift' numbers off of the gas pumps and somewhat magnatize a card; a fancy 'quarter with a string attached' - the zip code is an additional security feature. I figured the phone/zip deal was in case someone was going to make a Johnny-5 and needed to be found who and where it came from, but bought just batteries and they would not sell them without that info - never went back. Their niche was damaged by big electronic stores and disappeared with the internet. |
| Posted by: swksvolFF 2010-03-27 17:48 |
| #10 Gas station pumps in our area are now asking for the billing zip code associated with a credit card. Fudge it and the charge is denied. |
| Posted by: lotp 2010-03-27 17:01 |
| #9 If you pay cash, you could always ask "what's the zip code here? I just moved to the area". 90210 is also a well known zip code. If they want a phone number, just say (local area code) 555-1212. |
| Posted by: Rambler in Virginia 2010-03-27 16:56 |
| #8 American Express uses the zip code as an i.d. to confirm the credit card. Otherwise one can just refuse to share that information -- I've said no at a great variety of stores without issue. |
| Posted by: trailing wife 2010-03-27 14:40 |
| #7 Of course, many other stores do that now, no avoiding it. I give a zip code from somewhere halfway across the country and a made up phone number. I resent them doing market research on my dime. I just tell them "No!" end of story. If they give me any resistance I tell them I'll be walking out. No Sale. Nine times out of ten, they just key in the override and I am on my way. Of course, I live in Texas, and real (native) Texans can be stubborn. Just tell them no, and stick to it, most of the time they will fold...and they DO have an override code no matter what they tell you otherwise. |
| Posted by: Secret Asian Man 2010-03-27 12:36 |
| #6 I guess you can always supply the address and phone number of the Radio Shack HQ.... |
| Posted by: CrazyFool 2010-03-27 11:26 |
| #5 Never should have shut down Tandy Brass |
| Posted by: Shipman 2010-03-27 11:16 |
| #4 no mo uro, I always "make a mistake" on my street number, zip code, and phone number when I can't avoid giving them - with my handwriting, it's easy. (Helps if I'm not paying with a check, which was usually true at Radio Shack.) I just told them the answer was 'cash,' but as you said, there are a lot more places to get the stuff I used to buy there. |
| Posted by: Barbara Skolaut 2010-03-27 09:24 |
| #3 Maybe the Chinese would like to buy "America's Technology Store?" |
| Posted by: Free Radical 2010-03-27 06:59 |
| #2 Stopped using them years ago when they were the first place that set up their sales procedure in such a fashion that you couldn't buy anything there without giving a phone number and a zip code. I've used them only at great need ever since. Of course, many other stores do that now, no avoiding it. I give a zip code from somewhere halfway across the country and a made up phone number. I resent them doing market research on my dime. |
| Posted by: no mo uro 2010-03-27 06:17 |
| #1 can only gauge by the local 'rat shack' but they seemed to have tried to reinvent themselves into nothingness a few years back. not a lot there except a few niche radio control toys and cell phones. they were staying afloat with the local Mexicans (yes, from Mexico)but the housing market went flat here and most of them seem to have self-deported. |
| Posted by: abu do you love 2010-03-27 00:59 |