Block Buster going bust
by Greg Farber | February 28, 2010
BlockBuster were/are passing details of all videos rented to FACEBOOK social networking site without peoples knowledge or consent. So everybody who has a FACEBOOK account and who rented from BlockBusters would have a record of all the movies they had watched accumulated by FACEBOOK without their knowledge. I have not rented these movies in years, I buy one now and again, mostly to check out the hidden subliminal messages within them.. This facebook is a real big brother of the Knights of Malta intelligence network aka Military Intelligence 5/6, GCHQ, CIA, NSA and so forth. Keep well away from it and similar.
Blockbuster Collapses: Shutting Down 500 Stores
In Desperate Bid To Save $200 Million
Lauren Hatch | Feb. 25, 2010
http://www.businessinsider.com/blockbuster-closes-500-stores-to-save-200-million-2010-2
Blockbuster is losing big when it comes to at-home videos, so they are cutting back on expenses and on advertising in the U.S. to make up for it.
US same-store sales fell 15.9% in the 4Q and revenue dipped 18% to $1.08 billion compared to last year.
By closing its 500 weakest stores, the video-rental company hopes to reduce expenses by $200 million, the Financial Times reports.
Jim Keyes, chief executive officer, said the company was working with Rothschild, its financial advisors, on ways to increase its liquidity, including a possible recapitalisation.
Under Mr Keyes, Blockbuster is seeking to establish its brand in rapidly emerging new channels such as digital downloads and vending kiosks.
But they’ve already been beat to the punch. Netflix and Redbox dominate market share when it comes to digital downloads and vending kiosks, and Blockbuster will have a difficult time growing in those segments.
The company ended last year with $963 million of debt. Can they make it through 2010?
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