The guitar apocalypse is real

[vurt]

yeah, but costco allow "members" to shop there too, you pay a membership fee for a card that allows you to shop, so you can feel all exclusive.

I see... interesting - and that... like... works?

not for me, but they seem to be successful.
like pekbro, i dont really do enough shopping to need the bulk products

[resynthesis]

CostCo don't just do bulk stuff. We bought our garden shed there and it was about £400 cheaper than getting it from B&Q or any of the other DIY suspects. It's often worth checking out if you're looking for electrical or DIY stuff (maybe other things too).

[Uncle E]

I see... interesting - and that... like... works?

They sell 50 pounds of flour for $15, 20 pounds of bacon for $45, and 60 eggs for $12. As you can imagine, those aren't for the normies, who are off buying frozen dinner entree du jour, although the $4.99 whole roasted chickens are for everyone.

[tapper mike]

yeah, but costco allow "members" to shop there too, you pay a membership fee for a card that allows you to shop, so you can feel all exclusive.

I see... interesting - and that... like... works?

It works for Costco and people think that buying the annual membership is saving them money. But the truth is Costco is very much aware of how much people are going to spend and add that into the price of the card. It looks like a good deal at check out but it's not.

https://www.youtube.com/watch?v=BOHG-TGip3Q

[tapper mike]

I love this thread.


So Sam Ash has been having a liquidation sale. But they are only offering 10% off the regular prices. Bankruptcy usually works like this. The Lawyers get all the money, Suppliers usually only get money for stuff they ship after it sells. Or 180 days same as cash. Suppliers get screwed. Banks who usually loan out money to the stores and are caught holding the bag for bounced checks get nothing. Landlords get nothing. The last bit if any left over goes back to the big wigs who have already cashed out their golden parachutes.

After liquidation by store sales everything must go goes into auction by lot. If you are an online dealer or a former exec you can make big bucks buying the stuff before it hits the dumpster.

I've worked for a few places that have gone through the entire process. One of the former top brass did exactly that. He waited till the auction bought various items at deep deep discounts and sold them to resale shops for a killing.

[donkey tugger]

I've worked for a few places that have gone through the entire process. One of the former top brass did exactly that. He waited till the auction bought various items at deep deep discounts and sold them to resale shops for a killing.

Not sure if the law in the US is the same, but here in the UK a limited company can go into administration/liquidation, pay the creditors f**k all as you outline, then the same directors can set up another company doing exactly the same thing using personal funds or other investment, and have to pay nothing from this to former creditors.

'Limited liability'. Not f**king kidding.

[tapper mike]

Yeah mostly the same.

Limited Liability Corporation (LLC)
Limited to the amount invested at time of incorporation. That doesn't stop them from collecting golden parachutes awarding themselves huge bonuses on the way out.

[pekbro]

That's the beauty of the Corporation, shift liability onto the commercial entity, shift it away from yourself.